PROView - June 2008 - (Page 18)

Supply by Price Range reports which show the number of months it would take to sell all the homes in given price ranges; and the Condo and Single Family Month Supply of Inventory reports which show a comparison of the number of months it would take to sell all the homes in Pinellas, Pasco and Hillsborough counties as well as the overall Tampa Bay area. So what is the easiest way to convey the expected time it will take to sell a property? One way is certainly to show the supply and demand for home price ranges in Pinellas County or for MLS covered real estate market areas by using the following table together with the numbers in the reports referenced above: The PRO Median Price reports are great for keeping track of home buying market trends. A home median price signifies a change in home buyer’s preferences for the price of a home they are willing to buy. Essentially, when more buyers are buying less expensive homes than buyers who are buying more expensive homes the median price falls. On the other hand, when more buyers are buying more expensive homes than buyers who are buying less expensive homes, the median price rises. (Continued on page 23) Month's Supply of Inventory (MSI) Below 4.5 months 4.6 to 8.99 months 9 to 15 months 16 to 20 months 21+ months Type of Market Extreme Seller’s market Seller’s market Balanced market Buyer’s market Extreme Buyer’s market Thanks to Our 2008 Strategic Partners! Platinum Sponsor Homes & Land Magazine Gold Sponsors Bright House Networks – Pinellas Silver Sponsors Bentley De Night Insurance Services First American Core Logic Gulf Coast Chapter FAMB Landy Insurance Pelican Inspections Pinellas REALTOR Foundation Habitat Build in Tarpon Springs The Pinellas REALTOR Foundation will soon start its second Habitat Build in Tarpon Springs and volunteers are needed. Please contact Glenda McKinney at gmckinney@tampabayrealtor.com or call 727-216-3030 for dates and more information.. ® ® Bronze Sponsors Gulf Creations Knology LSG Consulting Services,LLC MongoFax SunTrust Mortgage 18 PINELLAS REALTOR® ORGANIZATION June 2008

Table of Contents Feed for the Digital Edition of PROView - June 2008

PROView - June 2008 Contents Chairman’s Notes Sustainable Lifestyles Greening the Not-So-New House Green Renovation Checklist Green Building Tips Going Green PROActive You Have 30 Seconds to Prove Your Value Marketplace Analysis Home Sales Report PRO Biz Calendar of Events & Programs New Members and Affiliates

PROView - June 2008

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