PROView - August 2008 - (Page 12) Marketplace Analysis Pinellas Mid-Year Trends While the press continues to report the Tampa Bay Area market as still being in decline, members need to know that’s only part of the story. Single Family: • June unit sales almost doubled while the number of listings continues to decline. • Year to date shows a 12.4% drop in listings while the absorption rate is improving. • The June median price was higher than any other month so far this year. • There are about 13% more properties in pending status than last year. • About 30% of the properties under contract are in foreclosure, pre-foreclosure, or potential short sales. that segment. 11.4% of homes sold were between $200,000 and $250,000. 9.8% of condos sold within the $100,000 to $120,000 level and 10.7% of condos priced between $300,000 and $400,000. Absorption Rate The single family home absorption rate was for June 7.3%, showing a steady incline through the first half of the year. The rate for condos was 4.5%. tal ount 586 151 303 381 145 68 393 493 44 463 100 701 309 53 669 796 Month’s Supply of Inventory (MSI)* More single family homes are now returning to a balanced market, away from the previous dominance in buyer’s and extreme buyer’s markets. With an MSI between 9 and 14, single family homes priced below $120,000 between $150,000 and $200,000 and between $250,000 and $350,000 are within a balanced market. Homes priced between $120,000 and Condo: $150,000, $200,000 to $250,000 and $350,000 to $500,000, 1. The number of listings dropped by 18.6% year over year Pinellas County with MSI figures between 17 and 20, are within a buyer’s while condo sales were down 8.1%. Active with pending and active with contract status show Sold Under Contract market. Single family homes priced above $500,000 are in an 2. Listings Total Averages Averagesa slight increase over last year, but, echoing the sales rate, Total Averages extreme buyer’s market, showing an MSI ranging from 22 to Count Count BR BA List Price % SP/LP DOM BR BA List Price under contract have slowed as well. Sale Price 45. Condos pricedBR BA List Price are within a buyer’s market, below $120,000 DOM properties DOM 22 $678,221 193 30 2 2 $545,458 $484,100 88.75% 173 46 2 2 showing an MSI of 17, while$503,135 154 over $120,000 those offered to share with 2 Sure, we face challenges but it’s imperative $114,900 this $114,900 100.00% 2 $248,032 171 111 71 822 $203,560 138 are considered to be within an extreme buyer’s market, with 2 consumers. 2 $183,831 174 17 2 2 $178,723 $164,953 92.29% 190 38 2 2 $170,138 133 an MSI between 222 2 31 for those between $120,000 and and 22 $201,124 160 22 2 2 $160,105 $144,516 90.26% 167 32 $156,044 147 –Ann Guiberson, $750,000 and 81 to2 for those between $ $750,000 to above 98 2 $135,766 112 22 $165,421 152 11 2 2 $137,964 $128,325 93.01% 88 15 President & CEO $1,000,000. 14 2 2 $124,100 111 22 $153,141 154 322 $143,600 $137,000 95.40% 68 2 To read the full marketplace12 2 2please go to www. 2 $200,928 154 $95,158 $88,242 92.73% 82 analysis, Median Sales 38 2 2 $153,478 141 Price 2 TampaBayRealtor.com/stats 21 2 2 2 $247,271 165 $208,854 $189,183 90.58% 123 54 2 The median sales price 2 single family 91 for $199,157 homes was $185,000, 22 $198,539 200 222 $119,500 $101,000 84.51% 145 622 $151,743 210 up $10,000 from $175,000 the month before yet down 22 $144,900 175 $120,736 92.10% 139 35 2 2 $135,580 107 Statistics Highlights for 22 2 2008 $131,090 June 2 15.9% from $220,000 a 2 $659,191 The156 year earlier. median sales price 22 $578,435 186 54 2 2 $455,732 $411,342 90.25% 130 84 2 Price Class for condos was for the month $160,000, a decrease from 22 $154,510 194 36 2 2 $149,303 $134,060 89.79% 147 61 2 2 $158,601 138 Activity is picking 171 among homes 2 the$98,657 up in $300,000 to$89,627 90.84% 139 figure of May2yet 0.1% higher than the price level for $175,900 22 $118,512 15 2 36 2 $131,179 110 $400,000 bracket, 152 9.7% of all single family homes sold in 90.34% 179 with June, 2007 of $159,900. 22 $204,222 432 $242,675 $219,250 322 $262,933 140 2 2 2 2 tal Averages ount BR BA List Price DOM Area 159 4 3 North Beaches 194 $1,444,276 262 3 2 Tarpon Springs157 $392,674 454 4 3 East Lake/ Oldsmar $578,381 147 494 3 2 Palm Harbor 145 $437,269 141 3 2 Countryside $315,826 131 181 3 3 Safety Harbor 150 $455,458 401 3 2 Dunedin $300,194 140 532 3 2 Clearwater $306,581 141 107 3 3 Bellair $693,796 160 392 3 2 Largo $320,980 159 499 3 2 South Beaches184 $1,004,065 822 3 2 Seminole $317,214 152 515 3 2 Pinellas Park 158 $211,215 15 3 2 Feather Sound 137 $388,948 479 3 2 St. $346,469 144 Petersburg N. 022 3 2 St. $318,916 153 Petersburg S.* sadena CONDOS Active MLS Activity byJune – June 2008 Area 2008 February 2007 $335,665 $293,536 189 171 32 27 2 2 2 2 $182,981 $266,781 $165,736 $242,034 90.57% 127 46 2 139 * Month’s supply of inventory is2 number of months it would take to sell all the the $319,553 homes 97 range for 90.72% on the market at a 2 2price$402,780 any given point in time. 91 given 94 Pinellas Count Total Averages Total Averages Total Averages Total Averages Total Total Averages Total Averages Count BR Count Sale BA List PriceBR DOMListCount BRSale Price Count Count BR BA List Price DOMPrice % SP/LP BA Area BA List Price % BA List Price Count Price DOMSaleCount BR SP/LP DOM DO BA List Price BR Price DOM 75.21% 2 59 17 3 2 $731,294 North1 2 22 $1,649,900 586 2131 2 30 $545,45864 108 38 $484,100 3 88.75%$1,037,660 46 173 915Beaches 2 $773,048 $1,241,000 $678,2212 193 $589,242 2 $565,125 12 2 2 19 $242,824 $230,109 $248,0323 171 $250,153 1 $236,482 94.76% 119 28 3 1 2 $227,713 Tarpon Springs2 151 2 1 $114,90044 100 14 $114,900 2 100.00% $218,755 71 8 196 3 2 2 $347,513 2116 7 2 2 $339,392 $183,8312 174 $228,670 2 $216,935 90.06% 116 68 4 2 3 $437,644 East30 4Oldsmar $376,834 Lake/ 303 2 17 $178,72386 128 44 $164,953 2 92.29% $239,107 38 190 342 2 32 $220,621 2100 17 2 2 43 2 $348,290 $318,543 $201,1242 160 $183,045 2 $170,971 91.45% 108 89 3 2 $315,931 Palm Harbor 22 381 2 22 $160,10585 111 42 $144,516 2 90.26% $180,821 32 167 460 3 $225,688 2111 21 2 2 1 14 $310,457 94.23% 2 84 14 3 2 $233,211 Countryside 32 145 2 11 $137,96486 84 18 $128,325 2 93.01% $174,375 15 88 217 4 2 $189,569 2$292,571 $165,4212 152 $236,636 2 $216,693 95 9 2 15 2 $371,460 97.18% 2 77 19 3 2 $367,472 Safety Harbor 22 68 2 3 $143,600 $137,000 2 95.40% $169,040 14 68 96 3 $176,966 2$361,001 $153,1412 154 $129,311 2 $120,633 109 98 10 92 9 2 28 $224,874 $208,972 $200,9282 154 $301,997 2 $298,106 92.92% 104 63 3 2 $200,99368 112 73 Dunedin 3 22 393 2 12 $95,158 $88,242 2 92.73% $410,192 38 82 595 2 $269,603 2114 40 2 2 39 2 $178,888 $247,2712 165 $263,197 2 $252,692 92.77% 101 82 3 2 $219,101 Clearwater 493 2 21 $208,854 $189,183 2 90.58% $431,503 54 123 653 3 22 $192,815 $365,772 2115 15 2 102 102 39 2 10 2 $532,390 $198,5392 200 $302,967 2 $289,967 90.94% 2 93 7 3 $536,971 Bellair 44 2 232 $119,500 $101,000 2 84.51% $138,000 145 6 50 3 32 $585,380 $249,720 2112 3 117 228 3 2 41 2 $264,606 $144,9002 175 $145,042 2 $138,356 94.86% 119 78 3 2 $216,274 Largo 463 2 22 $131,09090 115 25 $120,736 2 92.10% $178,619 35 139 504 3 22 $278,927 $191,705 2124 16 2 2 1 29 $594,529 $536,398 $578,4352 186 $533,926 2 $486,011 90.22% 2 95 52 3 2 $512,217 South Beaches 2 1100 2 54 $455,732 $411,342 290.25% $806,158 84 130 1593 3 2 2 $654,180 2126 27 143 134 93 2 77 $281,231 $261,322 $154,5102 194 $180,230 2 $170,995 92.92% 110 133 3 2 $245,661 Seminole 3 22 701 2 36 $149,303 $134,060 2 89.79% $138,601 61 147 744 2 $202,829 2102 22 2 101 97 45 2 30 $128,355 $121,332 $118,5122 171 $137,720 2 $131,180 94.52% 2 99 73 3 2 $145,018 Pinellas Park 12 309 2 15 $98,657 $89,627 2 90.84% $117,231 36 139 436 3 2 $166,811 2101 10 120 90 24 2 1 12 $239,900 $222,500 $204,2222 152 $200,300 3 $195,817 92.74% 294 5 3 $471,380 Feather Sound22 53 2 442 $242,67591 86 $219,250 2 90.34% $190,380 179 3 72 2 $265,711 2106 6 2 5 2 1 $225,653 $335,6652 189 $211,260 2 $203,493 91.96% 107 234 3 2 $217,912 St. 110 3 22 Petersburg N. $245,378 669 2 32 $182,981 $165,736 2 90.57% $321,117 46 127 1169 2 $332,839 2132 37 2 109 106 109 2 74 $181,829 $293,5362 171 $289,375 2 $275,235 90.97% 102 135 3 2 $187,642 St. Petersburg 22 796 2 27 $266,78180 100 402 $242,034 290.72% $450,079 91 97 1266 3 S.* $199,863 2 $346,687 2160 55 2 2 Total Averages Total Averages Count Sold CONDO Active Single Family SoldActive Sold Condos Under Contract Sold Sold Under Contract 12 SINGLE FAMILY SINGLE FAMILY PINELLAS REALTOR® ORGANIZATION Active Total Averages Active © 2008 Pinellas and Pasadena * Includes GulfportREALTOR® Organization All Rights Reserved. Sold Total Averages Count Sold Total Averages August 2008 Under Contract Total Count http://www.TampaBayRealtor.com/stats http://www.TampaBayRealtor.com/stats
Table of Contents Feed for the Digital Edition of PROView - August 2008 PROView- August 2008 Contents Chairman’s Notes Feature Story PROActive PRO News Marketplace Analysis Home Sales Report MLS Update New REALTOR® and Affiliate Members MLS Mind Your Manners Calendar of Events & Programs Money-Saving Gas Tips PROView - August 2008 PROView - August 2008 - PROView- August 2008 (Page Cover1) PROView - August 2008 - PROView- August 2008 (Page Cover2) PROView - August 2008 - Contents (Page 1) PROView - August 2008 - Chairman’s Notes (Page 2) PROView - August 2008 - Chairman’s Notes (Page 3) PROView - August 2008 - Feature Story (Page 4) PROView - August 2008 - Feature Story (Page 5) PROView - August 2008 - PROActive (Page 6) PROView - August 2008 - PROActive (Page 7) PROView - August 2008 - PROActive (Page 8) PROView - August 2008 - PROActive (Page 9) PROView - August 2008 - PRO News (Page 10) PROView - August 2008 - PRO News (Page 11) PROView - August 2008 - Marketplace Analysis (Page 12) PROView - August 2008 - Home Sales Report (Page 13) PROView - August 2008 - MLS Update (Page 14) PROView - August 2008 - New REALTOR® and Affiliate Members (Page 15) PROView - August 2008 - MLS Mind Your Manners (Page 16) PROView - August 2008 - Calendar of Events & Programs (Page 17) PROView - August 2008 - Calendar of Events & Programs (Page 18) PROView - August 2008 - Calendar of Events & Programs (Page 19) PROView - August 2008 - Money-Saving Gas Tips (Page 20) PROView - August 2008 - Money-Saving Gas Tips (Page 21) PROView - August 2008 - Money-Saving Gas Tips (Page Cover4)
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