PROView - January 2009 - (Page 14) Marketplace Analysis BYE to 2008 Whew! 2008 is over at last. Surprisingly, December showed a nice rebound over 2007, with both single family and condo sales up a decent amount. Year in Review Total dollar volume for Pinellas County was down 20% from 2007 and down 28% for the Tampa Bay area in all residential properties. Single family total dollar volume was down 21% for Pinellas and down 25% for the Tampa Bay area. Condos were down 17% in Pinellas and down 31% in the Tampa Bay area as a whole. No one will mourn the passing of 2008, but will 2009 be better? With low mortgage rates, realistic sales prices and government programs to help the distressed sales segment of the market, Act optimistic that 2009 will continue the trend old S towards a we areive Total Averagesmind, it’s time to take Averages recovering market. With that thought in Count Sale Price BR advantage of every opportunityBR hone sales and marketing BA List Price DOM to BA List Price 2 skills, leverage technology to18 maximum, and develop a 2 $616,716 172 $357,750 $320,128 the 2 2 2 dynamic unique value proposition. 2 2 $208,767 183 62 $203,617 $181,417 2 2 2 2 2 2 2 2 2 2 2 2 2 2 22 $173,707 $159,760 22 $127,992 $112,488 2 $138,327 137 422 $166,246 $150,750 (To read the full marketplace analysis,2 please visit www.$120,300 2 $137,015 137 82 $127,675 TampaBayRealtor.com/stats.)24 2 2 2 $174,229 146 $148,085 $134,021 2 $202,982 154 27 2 2 $125,475 $118,543 Statistics Highlights for December, 2008 2 $170,856 157 2 $134,886 147 15 2 2 $126,547 $113,307 Price Class 2 $502,351 191 30 2 2 $412,847 $376,460 2 both single family homes28 2 2 $141,013 214 $130,543 $122,213 For and condos, sales activity 2 $113,496 166 12 2 2 $104,760 $90,694 continues to be visible in several price brackets without any 2 $188,421 149 142 $310,000 $290,000 2 $303,436 181 28 2 2 $200,334 $175,130 2 $261,232 163 33 2 2 $200,218 $183,440 December 2008 Starting with the January, 2009, issue of PROView Magazine, local statistics will be available for the month prior. Because the publication is now online only, we’ll be able to showcase statistics about three weeks after the close of each month. Previously, due to a longer print cycle, the magazine included market statistics from two months earlier. This month’s issue features both November and December 2008. dominant range. SFH: $100,000-120,000: 8.8%; $120,000140,000: 9.9%; $140,000-160,000: 8.4%; $200,000-250,000: 11.2%; and $250,000-300,000: 7.5%. Condos: $100,000-120,000: 8.6%; $120,000-140,000: 8.2%; $140,000-160,000: 10.7% and $200,000-250,000: 8.2%. Absorption Rate The single family home absorption rate was for December 6.8%, up from November’s 5.0%. The rate for condos was 4.2%, up from 3.4% the month before. Month’s Supply of Inventory (MSI)* With an MSI of 9, single family homes priced below $120,000 Pinellas County are within a balanced market. Homes priced between $120,000 and $350,000 with UnMSIrof 16 toa are within a buyer’s an de Contr 19 Total Averages market. Properties from $350,000 to above $1,000,000 are in Count market with an an DOM % SP/LPextreme buyer’sBR BA List Price MSI ranging from 41 and 65. 99 89.48% Condos priced below $120,000 are within a buyer’s market 37 2 2 $466,885 127 with 127 532 $153,680 202 89.10% an MSI of 20 when all other condos are within an extreme buyer’s market. 11 2 2 priced between $120,000 and Properties $135,254 103 91.97% 118 $750,000 41 2 1 $85,093 94 87.89% 126 show an MSI between 21 and 61, while those priced above $750,000 have an 2 of 130 to 143. MSI $157,217 63 52 90.68% 135 84 832 $158,250 114 94.22% Median Sales Price 2 2 85 31 $140,345 80 90.50% 81 55 2 2 $155,331 103 94.48% The median sales price for single family homes was $145,000, 111 $89,800 18 down from $159,900 the month before. 161 median sales The 20 2 2 $103,547 89.54% 123 price for condos was for2the month $140,000, an increase from 60 2 $588,737 89 91.19% 102 the November figure of 2 $125,500. 30 2 $128,070 111 93.62% 103 27 2 2 $117,813 86 86.57% 139 45 62 40 93.55% * Month’s supply of inventory is2 number of months it would take to sell all the the $126,600 33 given 116 87.42% on the market at a 2 2price $190,233any given point in time. homes 88 range for 86 2 2 $339,899 76 91.62% 112 l nt 67 82 03 13 37 75 02 82 44 63 87 13 53 70 08 79 Ann Guiberson, President & CEO 2 $175,859 172 21 $171,421 l Averages nt BR BA List Price DOM Area 41 3 3 North Beaches 180 $1,309,844 78 3 2 Tarpon Springs158 $353,926 35 4 3 East Lake/ Oldsmar $548,914 144 99 3 2 Palm Harbor 145 $419,939 18 3 2 Countryside 132 $317,912 80 4 3 Safety Harbor 162 $413,211 25 3 2 Dunedin $270,330 139 46 3 2 Clearwater $313,918 144 18 3 2 Bellair $553,924 169 52 3 2 Largo $303,558 145 20 3 2 South Beaches165 $993,051 55 3 2 Seminole $281,877 153 36 3 2 Pinellas Park 162 $182,966 21 4 2 Feather Sound 171 $508,651 03 3 2 St. $327,545 140 Petersburg N. 84 3 2 St. $303,219 145 Petersburg S.* dena Active CONDOS MLS Activity byDecember 2008 2008 Area – December February 2007 Total Averages Total Averages Total Averages Total Averages Total Averages Total A Total Averages Total Averages Count BR Count BRBA Price Count BR BA List Price BR DOM List Count BR SaleList Price DOM Count B Count Count % BA DOM Count BR BA List Price % SP/LP BA BA List Price Sale Price BR SP/LP List Price DOM Price DO BA List Price Sale Price DOM 5 $1,247,400 12 11 $983,709 131 38 70.47% 104 $589,242 2 4 2 3 $357,750 64 $320,128 89.48% $1,037,660 3725 North Beaches 32 $1,770,160 567 2 $616,716 2 172 18 99 915 3 2 $773,048 2 131 2 $565,125 3 2 14 $193,398 $182,177 90 $250,153 2 3 2 2 $203,617 44 $181,417 21 $194,886 82 14 94.20% 2 Tarpon Springs22 182 2 $208,767 3 183 6 89.10% 127 196 3 2 $347,513 2 116 7 $236,482 2 2 $218,755 5 7 $320,891 17 46 $359,324 147 44 91.63% 120 $228,670 2 3 2 2 $173,707 86 $159,760 East 23 4 22 Lake/ 2 Oldsmar $350,215 303 2 $171,421 2 171 13 91.97% 118 342 $220,621 2 100 2 $216,935 2 2 $239,107 11 7 $309,234 $280,674 21 48 $263,051 98 42 90.76% 106 $183,045 2 3 2 2 $127,992 85 $112,488 Palm28 3 22 Harbor 413 2 $175,859 2 172 21 87.89% 126 460 2 $225,688 2 111 2 $170,971 2 2 $180,821 4110 12 $198,642 75 $236,636 2 3 2 2 $166,246 86 $150,750 $179,005 125 18 92.85% 2 Countryside 22 137 2 $138,327 2 137 48 90.68% 135 217 3 2 $189,569 2 $184,439 95 9 $216,693 2 2 $174,375 6 7 15 $252,960 14 $229,720 95 10 91.96% 110 $129,311 2 3 2 2 $127,675 Safety Harbor 22 75 2 $137,015 2 137 8 84 94.22% $169,040 8 5 96 3 2 $176,966 2 $232,633 92 9 2 $120,633 109 $120,300 2 2 38 $183,728 $173,380 40 81 $301,997 2 3 2 2 $148,085 68 $134,021 56 $209,671 73 73 94.37% 2 Dunedin 3 22 402 2 $174,229 2 146 24 85 90.50% $410,192 31 8 595 2 $269,603 2 114 $298,106 2 2 45 $154,479 $143,202 15 77 $154,642 85 39 92.70% 107 $263,197 2 3 2 2 $125,475 Clearwater3 22 482 2 $202,982 2 154 27 81 94.48% $431,503 55 8 653 2 $365,772 2 115 2 $252,692 102 $118,543 2 2 $233,872 $216,188 3 2 $275,883 92.44% 116 $302,967 3 $289,967 Bellair8 3 22 44 2 $170,856 2 157 50 2 $249,720 2 112 3 2 117 54 3 2 2 $138,000 1 4 92.05% 2 37 $144,814 16 62 $145,042 2 3 2 2 $126,547 90 $113,307 51 $166,770 92 25 Largo 363 2 $134,886 2 147 15 89.54% 123 504 3 22 $157,324 2 124 2 $191,705 $138,356 2 2 $178,619 2010 15 $663,390 $578,860 27 42 $764,601 120 93 87.26% 120 $533,926 2 3 2 2 $412,847 South Beaches32 1187 2 $502,351 2 191 30 91.19% 102 1593 3 2 $654,180 2 126 2 $486,011 143 $376,460 2 2 $806,158 60 8 64 $246,639 $219,345 22 73 $180,230 2 3 2 2 $130,543 97 $221,845 117 45 88.93% 2 Seminole 3 22 713 2 $141,013 2 214 28 93.62% 103 744 2 $202,829 2 102 $170,995 101 $122,213 2 2 $138,601 30 9 33 $129,282 $119,987 10 95 $137,720 2 3 2 2 $104,760 57 $126,068 87 24 92.81% 2 Pinellas Park 22 353 2 $113,496 2 166 12 86.57% 139 436 3 2 $166,811 2 101 $131,180 120 $90,694 2 2 $117,231 2712 Feather Sound 2 70 2 $188,421 2 149 1 $310,000 91 $290,000 45 93.55% $190,380 611 72 2 $265,711 2 106 6 2 $200,300 4 2 $195,817 5 2 2 110 $201,404 37 78 $211,260 2 3 2 2 $200,334 166 $215,334 108 109 93.19% 2 St. Petersburg N. 608 2 $303,436 2 181 28 88 87.42% $321,117 33 6 1169 3 22 $216,113 2 132 2 $332,839 $203,493 109 $175,130 2 2 62 $140,189 55 82 $289,375 2 3 2 2 $200,218 80 $183,440 133 $156,186 93 402 92.08% 2 St. Petersburg S.* $152,239 779 2 $261,232 2 163 33 91.62% 112 1266 3 22 2 $346,687 2 160 $275,235 2 2 $450,079 86 8 Total Averages Total Count Sold A DO Active Single Family Sold ctive Sold Under ContCondoslSold ra o d S Pinellas County Under Contract U 14 SINGLE FAMILY ® ORGANIZATION Y PINELLAS REALTOR GLE FAMIL Active Total Averages * Includes Gulfport and Pasadena Active Sold © 2008 Pinellas REALTOR® Organization All Rights Reserved. Averages Total Averages Count Sold Total Averages January 2009 Under Contract Total A Count U http://www.TampaBayRealtor.com/stats http://www.TampaBayRealtor.com/stats
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