PROView - June 2008 - (Page 21)

Marketplace Analysis Spring Market Brings Some Improvement I think it is premature to say that the downturn is over, but I do believe it is nearing the end and that we actually could look back and say that this in fact is the turning point. Consider the following: Single family: Listings are down almost 5% from last year with the number of active listings on the market at the beginning of May at 8,757. Sales, while better than any month in the first quarter, are 10.7% below April last year. Absorption Rate The single family home absorption rate was for April 6.3%, up from 5.4% in March and 4.3% in February. The rate for condos went from 3.6% in February and March to 4.1% in April. tal unt 675 168 353 437 180 78 436 577 60 516 243 794 360 73 772 896 Month’s Supply of Inventory (MSI)* There’s been a slight shift in reported MSI, resulting in more price ranges now showing a balanced market and fewer price ranges indicating an extreme buyer’s market. Condo: Listings are down by nearly 17%, which is an even With an MSI between 10 and 14, single family homes better number than for the single family segment of the marpriced $120,000 to $150,000 and $200,000 to $250,000 ket. At the beginning of this month, we had 7,698 listings. are within a balanced market. Homes priced between Sales are down 10% year over year with a total of 319 units $150,000 and $200,000, with an MSI figure of 18, are sold in April 2008, the most sold in a single month since June within a buyer’s market. Single family homes priced above of last year. Pinellas County $250,000 are in an extreme buyer’s market, showing an Sold Under Contract —Active Ann Guiberson, President & CEO MSI ranging from 23 to as high as 104 for homes above Averages Total Averages Total Averages (To read the full marketplace analysis, please go to Count BR BA List Price Count BR BA List Price $1,000,000. BR BA List Price DOM Sale Price % SP/LP DOM DOM www.TampaBayRealtor.com/stats) 2 $846,142 22 $684,720 178 33 2 $745,988 88.16% 111 49 2 2 $663,021 203 Condos, however, show a different picture. All condos are 2 Statistics Highlights for April 2008 2 $259,760 149 422 $146,588 $136,350 93.01% 65 11 3 2 $265,807 117 within an extreme buyer’s market, showing an MSI of 21 to 49. 22 $187,363 160 822 $172,906 $159,900 92.47% 80 28 2 2 $185,535 95 2 Price Class 2 $180,700 147 26 2 2 $145,919 $135,670 92.97% 162 Sales Price 2 32 2 $175,560 66 Median 2 The majority of single family homes sold continue $160,929 2 $163,733 124 722 $174,555 11 2 2 $130,566 135 to be at 92.19% 140 The median sales price for single family homes was 2 levels between $200,000 and $250,000. For April, 15.7% of 2 $150,510 118 622 $167,900 $161,717 96.31% 117 11 2 2 $152,618 84 $178,000, down $2,000 from $180,000 the month before 22 $198,640 135 20 2 2 $135,450 $122,790 90.65% 121 42 2 2 $137,297 129 homes sold within that bracket, up from 11.9% the month and $34,500 or 16.2% 2 $171,294 132 April a year ago. from $212,500 in 22 $250,310 145 16 2 2 $179,331 $159,522 88.95% 131 32 2 2 before. The condo market appears to be a bit more spread 2 $195,266 166 0 $0 $0 0 0 $0 The median sales price for condos was 0 the month for 10.3% 2 $148,068 2 out. Of those sold in April, 14 2 were within the $100,000 95.01% 2 $149,044 150 $140,689 87 29 2 $172,000, an increase 2 $139,994 125 figure in March from the $160,000 2 to $120,000 level, 10% between $120,000 and $140,000 2 $578,633 177 43 2 2 $400,139 $358,323 89.54% 125 101 2 $707,057 145 and $155,000 number2in February yet 3.3% lower than the 2 and 10% for those priced $300,000 to $400,000. 2 $157,078 165 24 2 2 $178,468 $167,002 93.57% 136 82 2 2 $165,690 138 price level for April, 2007 of $177,900. 2 2 2 2 2 2 2 2 Total Averages Total Averages Total Averages Total tal Averages Total Averages Total Averages Total Averages Count Sale Price Count unt BR BA List Price Count BR BA List Price Count Count BR SP/LP DOM Count BR BA List Price Area Sale % BA List PriceCount DOM % SP/LP BA DOM Price Sale Price DOM DO Area BA List Price BR BA List Price BR DOM List Price DOM North4 4 22 $769,475 Beaches 675 2 33 $846,142 $745,988 388.16%$1,037,660 49 111 182 3 3 North Beaches159 $1,402,103 90.15% 178 13 2 $565,125 $655,085 64 131 915 2 $773,048 2$693,725 $684,720 2 115 $589,242 3 2 131 12 2 38 2 2 305 3 2 Tarpon Springs $392,364 145 17 91.14% 149 34 2 $236,482 $238,863 44 100 Tarpon Springs 2 $256,356 168 2 4 $146,588 $136,350 293.01% $218,755 11 65 196 3 2 2 $347,513 2$233,667 $259,760 3 114 $250,153 3 2 116 7 2 14 2 518 4 3 East Lake/ Oldsmar East21 4Oldsmar $338,444 $554,910 134 95.26% 160 61 2 3 $410,556 86 87 Lake/2 22 353 2 8 2 $172,906 $159,900 292.47% $239,107 28 80 342 $220,621 2$322,410 $187,363 2 123 $228,670 4 $216,935 100 17 2 44 2 571 3 2 Palm Harbor 132 $443,421 40 92.92% 147 81 2 $170,971 $297,996 85 110 Palm Harbor 22 $305,203 437 2 26 $145,919 $135,670 292.97% $180,821 32 162 460 3 2 $225,688 2$283,595 $180,700 2 120 $183,045 3 2 111 21 2 42 2 1 137 3 2 Countryside 115 $307,553 11 93.86% 86 21 2 $216,693 $354,792 86 83 Countryside 22 $298,474 180 2 7 $174,555 $160,929 292.19% $174,375 11 140 217 3 2 $189,569 2$280,170 $163,733 2 124 $236,636 3 2 95 9 2 18 2 196 3 2 Safety Harbor 135 $462,699 19 93.64% 92 20 2 $120,633 $417,045 Safety Harbor 22 $281,379 78 2 6 $167,900 $161,717 296.31% $169,040 11 117 96 3 2 $176,966 2$263,499 $150,510 2 118 $129,311 4 2 92 9 2 109 108 10 2 445 3 2 Dunedin $302,329 126 33 92.72% 135 46 2 $298,106 $213,147 68 109 Dunedin 3 22 $205,927 436 2 20 $135,450 $122,790 290.65% $410,192 42 121 595 2 $269,603 2$190,951 $198,640 2 101 $301,997 3 2 114 40 2 73 2 576 3 2 Clearwater $329,093 132 30 86.67% 98 73 2 $252,692 $223,719 Clearwater2 22 $309,647 577 2 16 $179,331 $159,522 288.95% 131 653 3 $365,772 2$268,393 $250,310 2 145 $263,197 3 2 115 15 2 102 103 39 2 $431,503 32 119 3 3 Bellair $703,496 157 3 88.57% 166 15 $464,820 Bellair 60 2 0 $0 2 0 50 4 32 $507,667 2 $249,720 2$449,667 $195,266 2 152 $302,967 3 2 112 3 2 $289,967 $0 117 82 3 2 $138,000 0 483 3 2 Largo $300,123 140 34 95.19% 84 73 2 $138,356 $202,814 90 100 Largo 516 2 14 $148,068 $140,689 295.01% $178,619 29 87 504 3 22 $286,186 2 $191,705 2$272,422 $149,044 2 150 $145,042 3 2 124 16 2 25 2 1 582 3 2 South Beaches $1,006,119 162 18 92.35% 177 61 2 $486,011 $609,397 South Beaches 2 $565,971 1243 2 43 $400,139 $358,323 289.54% 125 1593 3 2 2 $654,180 2$522,717 $578,633 2 149 $533,926 3 2 126 27 2 143 132 93 2 $806,158 101 924 3 2 Seminole $325,650 140 51 93.56% 86 120 $279,133 Seminole 3 22 $248,455 794 2 24 2 $170,995 $178,468 $167,002 293.57% 136 744 2 $202,829 2$232,465 $157,078 2 165 $180,230 3 2 102 22 2 101 99 45 2 $138,601 82 565 3 2 Pinellas Park 139 $223,469 33 95.66% 77 71 2 $131,180 $147,359 Pinellas Park 22 $154,210 360 2 11 $148,027 $138,445 293.52% $117,231 42 151 436 3 2 $166,811 2$147,522 $122,360 2 144 $137,720 3 2 101 10 2 120 88 24 2 1 18 4 3 Feather Sound158 $489,261 1 88.03% 16 3 $396,300 Feather Sound22 $249,900 73 2 0 $0 2 0 72 2 2 $265,711 2$220,000 $212,692 2 159 $200,300 3 2 106 6 2 $195,817 $091 161 5 2 $190,380 4 1 651 3 2 St.$366,231 98 93.40% 186 226 $241,957 St. Petersburg 22 $231,022 772 2 21 2 $203,493 $259,405 $240,033 292.53% $321,117 53 167 Petersburg 128 N. 1169 3 N. 2 $332,839 2$215,792 $349,345 2 105 $211,260 3 2 132 37 2 109 95 109 2 148 3 2 St.$321,825 49 90.13% 154 139 $188,077 80 95 402 St. Petersburg 22 $190,466 896 2 39 2 $275,235 $272,583 $245,579 290.09% 126 Petersburg 132 S.* 1266 3 S.* $346,687 2$171,678 $298,096 2 103 $289,375 3 2 2 160 55 2 2 $450,079 105 sadena CONDOS Active MLS Activity byApril 2008 2008 Area – April February 2007 CONDO $122,360 $212,692 $349,345 $298,096 144 159 186 154 11 0 21 39 2 2 2 2 $148,027 $0 $259,405 $272,583 $138,445 $0 $240,033 $245,579 93.52% 151 42 2 2 $133,160 108 0 422 $195,925 136 * Month’s supply of inventory is the number of months it would take to sell all the 92.53% 167 the market at a2 2 price range for any134 point in time. 53 $356,910 homes on given given 90.09% 126 105 2 2 $366,087 72 Pinellas Count Active Active Single Family Sold Sold Condos Sold Sold Under Contract Sold Under Contract * Includes SINGLEGulfport and Pasadena FAMILY FAMILY SINGLE Active Total Averages PINELLAS REALTOR® ORGANIZATION Area North Beaches Total Averages Total Averages Total Averages Total Total 2008 June Averages 21 Count Count Count Area BA Price Sale Count BR SP/LP DOM Price % BA List Price Count Count BR BA List Price BR BA List Price BR DOM List Price BR Sale List PriceDOM BA DO DOM North Beaches 3 $1,439,651 3 112 $1,402,103 3 159 $813,780 4 $716,980 182 3 4 2 $769,475 115 201 3 5 2 152 $693,725 390.15% $754,600 13 5 2 1 Active © 2008 Pinellas REALTOR® Organization All Rights Reserved. Sold Sold Under Contract http://www.TampaBayRealtor.com/stats

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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