PROView - February 2009 - (Page 12) Marketplace Analysis Good News, Bad News The good news is that single family sales and pending contracts continue to outperform activity when comparing January 2008 with January 2009 in every metric except median price. Unit sales were up 14.4%, listings were down 11.4%, contracts written were up 48% (pending and active with contract), and months supply of inventory is down to 24 months – the last a drop of 23% from last year. The bad news is that condo activity hit new lows in January. Just when we think we might be turning the corner in that segment of the market, it veers off track again. While condo listings were down from a year ago by 17.7%, sales were also down year over year by 20.3%, leaving us with 40 months supply of inventory at the end of January. – Ann Guiberson, President Averages l Averages Total & CEO nt BR BA List Price Count BR BA List Price DOM Sale Price (To read the full marketplace 2 2 $682,943 visit analysis, please 96 2 2 $602,740 169 18 $601,556 81 2 2 $206,864 188 000 $0 $0 www.TampaBayRealtor.com/stats.) 03 2 2 $166,370 144 11 2 2 $121,627 $108,364 45 2 2 $179,782 162 11 2 2 $159,673 $139,900 45 2 2 $137,163 125 132 $139,900 $138,900 80 2 2 822 $136,750 $123,863 Price$134,736 126 Class 29 2 2 $175,714 140 19 2 2 $84,871 $76,105 84 2 2 155 18 2 2 $196,930 $173,863 Both$199,945family homes and condos sales activity single 45 2 2 $175,527 158 00 $0 continues to be visible in several0price brackets without$0 64 2 2 $130,318 146 922 $81,544 $73,156 any dominant range. Single family homes: $100,00002 2 2 $497,075 182 26 2 2 $338,996 $307,695 120,000: 9.7%; $120,000-140,000: 8.1%; and $200,00028 2 2 $139,403 208 20 2 2 $145,887 $130,450 250,000: 8.4%. Condos: $60,000-$70,000: 8.5%, $100,00056 2 2 $111,825 165 14 2 2 $106,993 $96,086 84 2 2 $179,649 136 232 $207,450 $203,750 23 2 2 $310,313 167 15 2 1 $96,512 $86,920 09 2 2 $254,896 159 23 2 2 $179,143 $158,176 Active Sold January 2009 120,000: 11.6%; $120,000-140,000: 10.6%. Absorption Rate The single family home absorption rate was for January 4.9%, down from 6.8% in December. The rate for condos was at 2.8%, down from 4.2% the month before. Month’s Supply of Inventory (MSI)* With an MSI of 10, single family homes priced below $120,000 are within a balanced market. Single family homes priced between $120,000 and $750,000 have an MSI of 25 to 53, and homes priced $750,000 to above $1,000,000 are in an extreme buyer’s market with an MSI of 131 to 132. All condos are within an extreme Pinellas County buyer’s market. Condos priced below $120,000 and up to UnderMSI between 25 and 89 while those $750,000 showing an Contract Total Averages offered at $750,000 to above $1,000,000 have an MSI of Count BR BA List Price % SP/LP DOM DOM 93 to 134. 88.08% 180 32 2 2 $440,637 122 0% 0 11 2 2 $157,064 180 Median Sales Price 89.09% 178 36 2 2 $140,019 90 87.62% 89 64 2 2 $106,148 112 The median sales price for single family homes was 99.29% 23 13 3 2 $143,627 68 $124,500, down from $145,000 the112 month before. 90.58% 70 13 2 2 $134,354 The median 40 2 price for condos was for the month sales 1 $139,549 89.67% 127 70 88.29% 77 70 2 2 $115,634 97 $125,000, a decrease from the December figure of 0% 0 $93,592 89 $140,000. 6 2 2 89.71% 238 36 2 2 $109,654 108 90.77% 141 70 2 2 $526,667 128 89.42% 135 45 2 2 $138,215 167 89.81% 117 33 2 2 $120,398 94 98.22% 18 922 $105,966 48 * Month’s supply of inventory is the number of months it would take to sell all the 90.06% 106 the market at a given price range for any given point in time. 55 2 2 $239,776 138 homes on 88.30% 117 99 2 2 $307,614 90 Statistics Highlights for January, 2009 Total Averages Total Averages Total Averages Total A l Averages Total Averages Total Averages Total Averages Total Averages Count Count Count B nt BR BA List Price Count BR Count BR BA List Price Count BR BA List Price Sale Count % BA DOM DOM Area Sale Price Count % SP/LP DOM BA Price DOM BA DO Area BA List Price BR BA List Price BR DOM List Price BR SaleList Price DOM Price BR SP/LPList Price DOM 596 2 $602,740 2 169 18 $682,943 64 128 $601,556 3 88.08% $1,037,660 32 180 44 4 3 North Beaches180 North Beaches 2 2 $896,429 2 $706,286 $1,347,068 7 78.79% 173 13 4 3 $790,746 915 3 2 $773,048 131 12 2 $589,242 2 2 $565,125 38 2 25 Springs 181 2 $206,864 3 188 0 $0 0% $218,755 11 7 0 76 3 2 Tarpon Springs $347,785 157 Tarpon8 3 22 $118,963 2 $106,663 89.66% 104 34 3 2 $251,178 44 131 196 2 $347,513 116 7 2 $250,153 0 0 $236,482 14$0 2 2 Lake/ 4 22 303 2 $166,370 2 144 11 $121,627 86 132 $108,364 2 89.09% 178 48 4 3 East Lake/ Oldsmar East342 Oldsmar $361,750 2 $322,082 $541,295 144 16 89.03% 74 64 3 3 $327,331 2 $220,621 100 17 2 $228,670 2 2 $216,935 44 2 $239,107 36 7 445 2 $179,782 2 162 11 $159,673 85 106 $139,900 2 87.62% $180,821 64 89 06 3 2 Palm Harbor 142 Palm Harbor $418,504 21 91.80% 99 73 3 2 $252,974 460 3 22 $265,056 2 $243,333 21 2 $225,688 111 2 $183,045 2 2 $170,971 42 2 10 145 2 $137,163 2 125 1 $139,900 86 120 $138,900 2 99.29% $174,375 13 7 23 18 3 2 Countryside 111 Countryside3 22 $129,900 2 $129,000 $359,970 1 99.31% 24 20 3 2 $186,597 217 2 $189,569 95 9 2 $236,636 3 2 $216,693 18 2 80 2 $134,736 2 126 8 $136,750 $123,863 2 90.58% $169,040 13 5 70 77 4 3 Safety Harbor 154 Safety Harbor 22 $311,234 2 $298,175 $437,431 8 95.80% 118 28 4 2 $306,611 96 4 2 $176,966 92 9 2 $129,311 2 2 $120,633 109 106 10 2 429 2 $175,714 2 140 19 2 2 $84,871 $76,105 2 89.67% 127 45 3 2 Dunedin $264,323 129 Dunedin 3 22 $189,426 2 $180,974 19 95.54% 82 78 3 2 $201,797 68 105 595 2 $269,603 114 40 2 $301,997 $298,106 73 2 $410,192 40 8 61 3 2 Clearwater $308,601 139 Clearwater 3 22 $125,222 2 $116,907 29 93.36% 83 92 3 2 $163,991 484 2 $199,945 2 155 18 $196,930 $173,863 2 88.29% $431,503 70 8 77 653 2 $365,772 115 15 2 $263,197 2 2 $252,692 102 103 39 2 20 3 2 Bellair $499,195 157 Bellair 3 3 22 $284,550 2 $243,667 85.63% 95 332 $133,267 45 2 $175,527 2 158 0 $0 0% $138,000 6 4 0 50 2 $249,720 112 3 2 $302,967 0 0 $289,967 117 63 3$0 2 2 64 3 2 Largo $305,077 140 Largo 28 3 22 $194,116 2 $175,092 90.20% 107 66 3 2 $174,073 90 106 364 2 $130,318 2 146 9 $81,544 $73,156 2 89.71% 238 504 2 $191,705 124 16 2 $145,042 2 2 $138,356 25 2 $178,619 36 10 28 3 2 South Beaches165 South12 3 22 $1,133,883 2 $984,779 $973,223 86.85% 146 69 3 2 $575,029 Beaches 1202 2 $497,075 2 182 26 $338,996 $307,695 2 90.77% 141 1593 2 $654,180 126 27 2 $533,9262 2 $486,011 143 112 93 2 $806,158 70 8 27 3 2 Seminole $288,313 155 Seminole 3 22 $188,699 2 $175,537 47 93.02% 99 155 3 2 $220,660 728 2 $139,403 2 208 20 $145,887 $130,450 2 89.42% 135 744 2 $202,829 102 22 2 $180,2302 2 $170,995 101 115 45 2 $138,601 45 9 36 3 2 Pinellas Park 161 Pinellas Park 22 $120,217 2 $111,324 $183,800 20 92.60% 112 71 3 2 $111,384 356 2 $111,825 2 165 14 $106,993 $96,086 2 89.81% 117 436 3 2 $166,811 101 10 2 $137,720 2 2 $131,180 120 101 24 2 $117,231 33 12 16 4 3 Feather Sound165 Feather Sound 02 $652,419 0 $0 6 332 $332,933 84$0 2 $179,6490% 136 2 $207,450 91 44 $203,750 2 98.22% $190,380 9 18 72 0 2 $265,711 2 106 2 20 $200,300 3 2 $195,817 5 2 11 18 3 2 St.$336,818 68 90.53% 109 203 3 2 $197,885 Petersburg 2 623 2 $310,313 2 167 15 $96,512 $86,920 2 90.06% 106 Petersburg 139 St.1169 3 N.2 $181,629 2 $164,434 37 N. 2 $332,839 132 2 $211,260 2 1 $203,493 109 102 109 2 $321,117 55 6 86 3 2 St.$303,975 78 $92,270 $85,546 92.71% 70 139 3 2 $178,241 Petersburg 2 2 809 2 $254,896 2 159 23 $179,143 80 108 402 $158,176 88.30% 117 Petersburg 139 St.1266 3 S.* S.* 2 $346,687 2 160 55 2 $289,3752 2 $275,235 2 2 $450,079 99 8 dena CONDOS Active MLS Activity by Area – January 2009 January 2009 February 2007 CONDO Active Single Family Sold Sold Active Condos Sold Sold Under Contract Sold Pinellas County Under Contract 12 SINGLE FAMILYSINGLE FAMILY PINELLAS REALTOR® ORGANIZATION Active Total Averages Total Averages Total Averages Active © 2008 Pinellas and Pasadena * Includes Gulfport REALTOR® Organization All Rights Reserved. Total Sold Averages Sold Total Averages February 2009 Under Contract Total http://www.TampaBayRealtor.com/stats
Table of Contents Feed for the Digital Edition of PROView - February 2009 PROView - February 2009 Contents Chairman’s Notes Feature Story PROActive Marketplace Analysis Home Sales Report MLS Update Mind Your Manners Calendar of Events & Programs Brokerage Design Marketing PROView - February 2009 PROView - February 2009 - PROView - February 2009 (Page Cover1) PROView - February 2009 - PROView - February 2009 (Page Cover2) PROView - February 2009 - Contents (Page 1) PROView - February 2009 - Chairman’s Notes (Page 2) PROView - February 2009 - Chairman’s Notes (Page 3) PROView - February 2009 - Feature Story (Page 4) PROView - February 2009 - Feature Story (Page 5) PROView - February 2009 - Feature Story (Page 6) PROView - February 2009 - Feature Story (Page 7) PROView - February 2009 - PROActive (Page 8) PROView - February 2009 - PROActive (Page 9) PROView - February 2009 - PROActive (Page 10) PROView - February 2009 - PROActive (Page 11) PROView - February 2009 - Marketplace Analysis (Page 12) PROView - February 2009 - Home Sales Report (Page 13) PROView - February 2009 - MLS Update (Page 14) PROView - February 2009 - Mind Your Manners (Page 15) PROView - February 2009 - Mind Your Manners (Page 16) PROView - February 2009 - Calendar of Events & Programs (Page 17) PROView - February 2009 - Brokerage Design (Page 18) PROView - February 2009 - Brokerage Design (Page 19) PROView - February 2009 - Marketing (Page 20) PROView - February 2009 - Marketing (Page 21) PROView - February 2009 - Marketing (Page Cover3) PROView - February 2009 - Marketing (Page Cover4)
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