PROView - July 2008 - (Page 12) Marketplace Analysis Maybe the Worst Is Over Absorption rates are slowly climbing, inventory is dropping, and sales have shown a slow but steady increase for the single family home market. In fact, year over year, sales for the single family home category in May were just about even with May of 2007. We are still facing a myriad of problems and pain ahead including the availability of loans, foreclosures, potential short sales, and mortgage fraud. Amid the challenges, however, we can see a bright light. Meanwhile we are now hearing that bargain hunters are out in force, some of them long-term investors and some who are buying their own home – all folks who will contribute to a stabilized market. Maybe the worst is in fact over. otal Count BR BA List Price ount BR BA List Price DOM (To read the full marketplace analysis, please visit Sale Price 593 2 2 $683,129 192 28 2 2 $520,834 $469,975 www.tampabayrealtor.com/stats3) 2 $209,533 154 2 2 $254,482 162 6 $187,917 327 2 Price Class 2 $180,347 172 15 2 2 $171,812 $160,733 390 2 Most of the sold single family homes continued to be at 2 $200,993 155 21 2 2 $172,786 $157,024 155 2 levels between $200,000 and $250,000. $117,970 13.1% 2 $167,326 141 922 For May, $108,989 71 2 2 $153,142 140 522 $173,420 $156,380 of homes sold within that bracket. Condo sales were a 406 2 2 $203,050 146 26 2 2 $115,384 $105,112 bit more spread out. 11.7%14 sold 2 $159,577 priced of 2 condos were $143,057 509 2 2 $240,408 160 between $200,000 and $250,000, 11.1% within $120,000$0 54 2 2 $190,253 186 0 $0 and 489 2 to2$140,000 level 166 10.5% in the 2 $146,703 20 2 $300,000 to $400,000 $123,736 $112,315 1161 2 range. $595,863 2 187 51 2 2 $492,394 $448,204 725 2 2 $158,626 51 2 2 $156,502 $147,465 Absorption Rate 182 342 2 2 $122,525 158 18 2 2 $116,306 $107,322 The single family 167 home absorption 2 $221,275 May 6.8%, rate was for 61 2 2 $207,538 82 $199,625 708 2 2 $335,949 195 27 2 2 $433,385 $403,582 824 2 2 $298,159 167 48 2 2 $225,192 $208,344 up from 6.3% in April and 5.4% in March. The rate for condos increased to 4.7%, up from 4.1% in April and 3.6% in March. Month’s Supply of Inventory (MSI)* A shift resulting in more properties now showing a balanced market continues. Single family homes priced below $120,000 are within a seller’s market at an MSI of 8. With an MSI between 10 and 15, homes priced from $120,000 to $150,000 and $200,000 and $250,000 are within a balanced market. Homes priced between $150,000 and $200,000 and $350,000 and $500,000 with MSI figures between 17 and 19, are within a buyer’s market. Single family homes priced between $250,000 and $350,000 and above are in an extreme buyer’s market, showing an MSI ranging from 23 to 41. Worth noting is that the highest Pinellas County MSI for the latter grouprpreviously was 104 . Unde Contract Total Averages Condos priced below $120,000 and between $200,000 Count % SP/LP DOM and $350,000 are BR BA List Price market, showing an MSI within a buyer’s DOM 90.23% 142 61 2 2 $575,162 192 between 18 and 20 while those offered at $120,000 to 89.68% 168 822 $216,672 94 $200,000 as well as2above $350,000 are considered to be 93.55% 81 36 2 $188,813 122 within an 90.87% 111 extreme 2 2 33 buyer’s market, with an MSI between 23 $156,425 140 and 54. 92.38% 117 18 2 2 $141,361 95 90.17% 42 Sales Price 2 2 9 $135,622 114 Median 91.09% 110 38 2 2 The median sales price for $129,131 126homes was single family 89.64% 113 43 2 2 $216,908 128 $175,000, down $3,000 from $178,000 the month. The 0 0 $0 0 median for condos was for the month $175,900, 90.76% 107 sales price 2 2 35 $140,473 128 an 139 figure of $172,000. 91.02% increase from April 2 104 2 $683,445 133 70 2 2 $150,971 134 94.22% 131 92.27% 72 37 2 2 $129,971 119 * Month’s supply of inventory is the number of months it would take to sell all the 90.21% on the market5 a 2 2price$247,340 any 152 point in time. homes 68 at given range for given 93.12% 125 57 2 2 $289,695 140 87 2 2 $403,749 80 92.51% 135 —Ann Guiberson, President & CEO Active Total Averages Statistics Highlights for MayAverages 2008 Sold otal Averages ount BR BA List Price DOM Area 168 3 3 North Beaches 176 $1,437,058 256 3 2 Tarpon Springs 149 $404,908 480 4 3 East Lake/ Oldsmar $564,223 140 511 3 2 Palm Harbor 147 $440,956 127 3 2 Countryside $307,998 119 175 3 3 Safety Harbor 150 $475,235 424 3 2 Dunedin $306,697 137 533 3 2 Clearwater $315,903 141 117 3 3 Bellair $671,166 165 431 3 2 Largo $313,005 154 519 3 2 South Beaches 175 $1,000,468 844 3 2 Seminole $321,511 153 521 3 2 Pinellas Park 154 $222,894 14 4 2 Feather Sound 139 $419,127 1545 3 2 St. Petersburg N. $355,222 137 1063 3 2 St. Petersburg S.* $316,108 144 asadena ACONDOS ctive MLS Activity by Area – May 2008 February 2007May 2008 Pinellas Count Total Averages Total Averages Averages Total Total AveragesTotal Averages Total Averages Total Averages Count BR BA Count Count Sale Price Count Count BR SP/LP List Price Count BR BA List Price DOM DOM List Price % SP/LP BA List Count BRSale List Price DOM BA Price Sale Price BA Area BR BA % BA DOM BR Price DO List Price DOM List Price 92.79% 192 $589,242 2 $565,125 3 $613,283 $569,067 $683,129 63 13 2 $684,331 90.23% $1,037,660 61 2 North Beaches 593 131 28 3 2 $520,834 64 117 38 $469,975 9156 2 2 2 $773,048 2 2 12 2 2 3 2 142 14 2 2 3 $204,486 $192,679 $254,482 94.22% 102 $250,153 3 $236,482 39 3 2 2 $244,752 89.68% 168 Tarpon Springs 154 116 6 $209,533 44 121 14 $187,917 196 2 $347,513 2 2 7 3 162 2 2 2 $218,755 8 91.21% 172 $228,670 2 $216,935 30 2 43 $369,896 $337,418 $180,347 86 66 3 $431,840 93.55% $239,107 36 East Lake/ Oldsmar$220,621 327 100 2 2 15 4 2 $171,812 86 117 44 $160,733 81 342 2 17 2 2 2 2 37 2 3 $254,055 $238,668 $200,993 93.94% 155 $183,045 2 $170,971 96 83 2 $302,876 90.87% 111 Palm Harbor 2 390 2 21 3 2 $172,786 85 109 42 $157,024 460 2 $225,688 111 2 21 2 2 2 2 $180,821 33 1 90.92% 114 $236,636 2 $216,693 17 2 3 $376,526 $342,362 $167,326 22 4 2 2 $286,239 81 18 92.38% 117 Countryside 2 155 9 $117,970 86 $108,989 217 2 $189,569 2 95 2 9 2 141 2 2 2 $174,375 18 94.53% 140 $129,311 2 $120,633 13 2 43 $436,815 $412,923 $153,142 79 29 3 2 2 $325,419 90.17% $169,040 9 Safety Harbor2 71 5 $173,420 $156,380 42 96 $176,966 2 92 2 9 2 2 109 106 10 2 2 30 3 $207,193 $193,783 $203,050 93.52% 146 $301,997 2 $298,106 77 54 2 $198,372 91.09% 110 Dunedin2 2 406 114 26 3 2 $115,384 68 134 73 $105,112 595 2 $269,603 2 2 40 2 2 2 2 $410,192 38 73.29% 160 $263,197 2 $252,692 39 2 3 $593,318 $434,862 $240,408 86 90 2 $220,511 93 39 89.64% 113 Clearwater 2 509 115 14 3 2 $159,577 653 2 $365,772 2 2 15 2 2 102 $143,057 2 2 $431,503 43 $425,844 $372,056 $190,253 87.36% 186 $302,967 3 $289,967 $0 78 13 2 $487,585 Bellair 2 54 112 0 $0 0 509 3 2 2 $249,720 2 2 3 2 2 117 143 3 2 2 $138,000 0 95.68% 166 $145,042 2 $138,356 38 3 $217,886 $208,494 $146,703 97 79 2 $238,768 90.76% 107 Largo 2 2 489 124 20 3 2 $123,736 90 117 25 $112,315 504 2 $191,705 2 2 16 2 2 2 2 $178,619 35 1 34 3 $943,456 $595,863 88.06% 169 $533,926 2 $486,011 53 2 $565,329 South 2 3 1161 126 51 3 2 $492,394 $448,204 91.02% 139 104 1593 Beaches $1,071,318 2 $654,180 2 2 27 2 187 2 143 141 93 2 2 $806,158 92.52% 182 $180,230 2 $170,995 66 2 2 3 $298,129 $275,853 $158,626 97 134 3 2 2 $277,208 Seminole 725 102 51 $156,502 $147,465 94.22% 131 744 2 $202,829 2 2 22 2 2 101 106 45 2 2 $138,601 70 37 Park 2 3 $159,870 $151,262 $122,525 94.61% 158 $137,720 2 $131,180 90 79 3 2 2 $148,490 88 24 92.27% $117,231 37 1 Pinellas 2 342 101 18 $116,306 72 436 2 $166,811 2 2 10 2 2 120 $107,322 2 2 94.86% 138 $200,300 2 $195,817 4 $399,000 $378,500 $207,538 4 3 $414,700 90.21% $190,380 5 1 Feather Sound 61 106 842 $221,275 91 164 $199,625 68 722 2 3 2 $265,711 2 2 6 2 167 2 5 2 2 114 2 32 $262,033 $335,949 87.66% 195 $211,260 2 $203,493 79 227 3 2 2 $232,830 93.12% 125 St. Petersburg N. $298,892 708 2 27 $433,385 $403,582 1169 2 $332,839 132 2 37 2 2 109 106 109 2 2 $321,117 57 90.80% 167 $289,375 2 $275,235 3 $184,486 $298,159 90 146 3 2 2 $209,679 St. 63 2 2 S.* $203,166 Petersburg 824 160 48 $225,192 80 101 402 $208,344 92.51% 135 1266 2 $346,687 2 2 55 2 2 2 2 $450,079 87 Sold CONDO Active Single Family Sold Active Sold Condos ld Under ContractoSold S Under Contract * Includes FAMIL SINGLEGulfport and Pasadena LE Active Y FAMILY SING 12 PINELLAS REALTOR® ORGANIZATION Total Averages Area July Total AveragesTotal Averages Total Averages Total Averages2008 Total Count Count BR BA List Price Count BA Price Sale Count BR SP/LP List Price Price Area % BA DOM DOM Count BR BA List Price BRSale List Price DOM Count BR BA List Price DO DOM 92.79% 63 North Beaches 168 3 3 $1,437,058 176 632 $613,283 $569,067 13 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 - July 2008 PROView - July 2008 Contents Chairman’s Notes Feature Story PROActive Making the Most of Your Membership Marketplace Analysis Home Sales Report MLS Update Brokerage Design MLS Mind Your Manners Calendar of Events & Programs New Members and Affiliate Members PROView - July 2008 PROView - July 2008 - PROView - July 2008 (Page Cover1) PROView - July 2008 - PROView - July 2008 (Page Cover2) PROView - July 2008 - Contents (Page 1) PROView - July 2008 - Chairman’s Notes (Page 2) PROView - July 2008 - Chairman’s Notes (Page 3) PROView - July 2008 - Feature Story (Page 4) PROView - July 2008 - Feature Story (Page 5) PROView - July 2008 - PROActive (Page 6) PROView - July 2008 - PROActive (Page 7) PROView - July 2008 - PROActive (Page 8) PROView - July 2008 - PROActive (Page 9) PROView - July 2008 - Making the Most of Your Membership (Page 10) PROView - July 2008 - Making the Most of Your Membership (Page 11) PROView - July 2008 - Marketplace Analysis (Page 12) PROView - July 2008 - Home Sales Report (Page 13) PROView - July 2008 - MLS Update (Page 14) PROView - July 2008 - Brokerage Design (Page 15) PROView - July 2008 - MLS Mind Your Manners (Page 16) PROView - July 2008 - Calendar of Events & Programs (Page 17) PROView - July 2008 - Calendar of Events & Programs (Page 18) PROView - July 2008 - Calendar of Events & Programs (Page 19) PROView - July 2008 - Calendar of Events & Programs (Page 20) PROView - July 2008 - Calendar of Events & Programs (Page 21) PROView - July 2008 - New Members and Affiliate Members (Page 22) PROView - July 2008 - New Members and Affiliate Members (Page 23) PROView - July 2008 - New Members and Affiliate Members (Page Cover3) PROView - July 2008 - New Members and Affiliate Members (Page Cover4)
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