PROView - October 2008 - (Page 14) Marketplace Analysis August Numbers Resemble Those of July August homes sales looked a lot like those in July. The absorption rate for both single family and condo were identical. Single family listings and sales were virtually unchanged. Condo listings continued to drop slightly and sales remained about the same. The same is true when comparing activity this year to last year. Not up, but not down much either. On the bright side, for buyers at least, the single family median price is still tracking along at 2003 levels. If you remember, that was a good market prior to the boom. Condo median price is still trending downward slightly, but it is difficult to compare the trend to previous years. Overall it is still above 2004 levels, but certainly less than 2005. The really interesting number for August is the 19% increase over 2007 in single family homes in pending sale status. The number of accepted contracts also shows an increase of 8% Active Sold over Averages July. There was a similar jump in contracts for condos, Total Averages 14% Count BR BA List Price BR where there is a DOM increase over August the previous year BA List Price Sale Price and an$670,806 over July this year. 2 $538,762to presage 8% jump 213 This seems 22 26 2 $475,960 2 the second season for stronger sales that we usually $212,450 2 $238,317 184 222 $249,450 see in 2 September and October. It’s definitely good to see more 2 $181,785 180 12 3 2 $164,265 $153,623 22 $188,929 20 2 2 $152,800 $138,444 buyer activity. 184 2 2 2 2 2 2 2 2 2 2 2 2 $211,875 $201,875 $133,725 $130,266 2 $161,572 172 14 2 2 $97,814 $87,211 To read the full marketplace analysis, please go to www. 2 $228,243 170 19 2 2 $146,979 $140,823 TampaBayRealtor.com/stats 3 2 2 $140,300 2 $185,173 230 $114,300 2 $140,565 192 15 2 2 $132,833 Statistics Highlights for August 2008 $143,129 2 $585,646 204 52 2 2 $538,024 $463,017 Price Class 2 $151,444 214 34 2 2 $146,195 $134,360 Most of both sold178 single family homes and condos are now 2 $112,360 17 2 2 $128,871 $116,794 2 $205,733 181 122 $139,900 $134,000 2 $318,915 190 22 2 2 $252,818 $237,204 2 $282,000 185 37 2 2 $236,354 $214,478 spread over several price brackets. SFH: $120,000-140,000: 10.5%; $140,000-160,000: 9.3%; $160,000-180,000: 9.9%; $200,000-250,000: 12%; and $300,000-400,000: 10.3%. CONDOS: $100,000-120,000: 14.1%; $120,000-140,000: 8.5%; $250,000-300,000: 10.5%; and $300,000-400,000: 9.5%. Absorption Rate The single family home absorption rate was for August 6.1%, the same as for July. The rate for condos remained at 4.3%. Month’s Supply of Inventory (MSI)* With an MSI of 13, single family homes priced from $120,000 to $150,000 are within a balanced market. Homes priced between $150,000 and $350,000, with MSI figures between 18 and 20, are within a buyer’s market. Single family homes priced between $350,000 to above $1,000,000 are in an Pinellas County extreme buyer’s market, showing an MSI ranging from 21 to Under Contract 92. Total Averages tal unt 531 145 301 343 146 59 350 500 41 438 972 670 283 56 671 717 — Ann Guiberson, President4& CEO 2 2 $150,627 178 2 $153,874 tal Averages unt BR BA List Price DOM Area 141 3 3 North Beaches 209 $1,485,869 249 3 2 Tarpon Springs162 $360,514 414 4 3 East Lake/ Oldsmar $567,700 159 463 3 2 Palm Harbor 148 $440,145 138 3 2 Countryside 140 $323,007 179 3 2 Safety Harbor 175 $436,332 394 3 2 Dunedin $283,794 146 525 3 2 Clearwater $287,316 157 111 3 3 Bellair $629,605 167 386 3 2 Largo $331,157 161 483 3 3 South Beaches190 $1,064,781 802 3 2 Seminole $317,174 160 504 3 2 Pinellas Park 173 $207,821 15 4 3 Feather Sound 114 $456,400 402 3 2 St. $342,608 149 Petersburg N. 954 3 2 St. $316,570 166 Petersburg S.* sadena Active CONDOS MLS Activity by Area – August 2008 February 2007 August 2008 % SP/LP DOM priced below BA List Price DOM Condos Count BR $120,000 and between $250,000 88.34% 120 34 2 2 $468,509 123 and $350,000 are within a buyer’s market, showing an MSI 85.16% 73 10 2 2 $191,248 161 between 18 and 19 while those offered at $120,000 to 93.52% 50 25 2 2 $155,998 129 $250,000 as well as 2 2 $350,000 to above $1,000,000 are from $137,491 90.60% 140 60 90 considered to be within an extreme buyer’s market, with an 95.28% 121 17 2 2 $131,497 101 MSI 150 97.41% between 29 and 79. 932 $142,711 151 89.15% 130 47 2 2 $134,171 125 Median Sales Price 95.81% 149 44 2 2 $164,277 113 81.46% median sales price 2 single family homes was 32 The 204 for $221,933 275 92.80% 91 33 2 $139,489 134 $175,900, down $4,1002from July’s $180,000. The median 86.05% 165 83 2 was for the month $150,800, a 2 $550,990 159 sales price for condos 91.90% 166 decrease from 69 July 2 $145,855 105 the 2 figure of $152,000. 90.62% 149 44 2 2 $116,596 83 95.78% 179 423 $177,450 102 93.82% 88 46 2 141 * Month’s supply of inventory is 2 number of months it would take to sell all the the $179,464 homes on range for 90.74% 109the market at a given price $408,175any given point in time. 77 2 2 76 Averages Total Averages Total Averages Total Averages Total Total Averages Total Averages Total Averages Count BR Count Sale Price Count Count BR SP/LP DOM Count BR BA List Price % SP/LP BA List Count BRSale Price DOM BR BA List PriceDOMDOM BA List Price Area BR BA List Price Sale Price % BA List PriceCount BR Price DO BA List Price DOM 6 $748,300 95.40% 213 $589,242 2 $565,125 99 16 3 2 2 $669,731 North Beaches2 531 26 $538,76264 160 38 $475,960 388.34%$1,037,660 34 120 915 4 3 2 $773,048 2$713,905 $670,806 1312 12 2 2 2 2 11 86.51% 184 $250,153 2 $236,482 77 31 3 2 2 $270,496 Tarpon Springs 145 2 $249,45044 130 14 $212,450 285.16% $218,755 10 73 196 3 22 $275,368 2 $347,513 2$238,247 $238,317 1162 7 3 2 2 28 93.37% 180 $228,670 3 $216,935 84 63 4 2 3 $418,386 East Lake/ Oldsmar$433,086 301 12 $164,26586 129 44 $153,623 293.52% $239,107 25 50 342 4 32 2 $220,621 2$404,382 $181,785 1002 17 2 2 2 44 $315,304 94.44% 113 $183,045 2 $170,971 79 3 2 2 $305,491 Palm Harbor 22 343 20 $152,80085 107 42 $138,444 290.60% $180,821 60 140 460 3 2 $225,688 2$297,785 $188,929 1112 21 2 184 2 2 1 11 $209,307 96.40% 154 $236,636 3 $216,693 60 16 3 2 2 $213,706 72 18 Countryside 22 146 4 $211,87586 $201,875 295.28% 121 217 3 2 $189,569 2$201,782 $153,874 952 9 2 2 2 $174,375 17 6 $452,117 95.99% 107 $129,311 2 $120,633 16 3 2 2 $323,716 Safety Harbor22 59 4 $133,725 $130,266 297.41% 150 96 4 2 $176,966 2$434,000 $150,627 922 9 2 178 2 109 122 10 2 $169,040 9 37 $211,908 93.67% 172 $301,997 2 $298,106 77 51 3 2 2 $239,073 Dunedin 3 22 350 14 $97,81468 97 73 $87,211 289.15% $410,192 47 130 595 2 $269,603 2$198,499 $161,572 1142 40 2 2 2 38 $195,063 94.47% 170 $263,197 2 $252,692 88 79 3 2 2 $220,083 90 39 Clearwater 22 500 19 $146,979 653 3 2 $365,772 2$184,282 $228,243 1152 15 2 2 102 $140,823 295.81% 149 2 $431,503 44 3 $316,133 94.21% 135 $302,967 2 $289,967 732 2 $574,727 Bellair 3 22 41 3 $140,300 $114,300 281.46% 204 50 2 $249,720 2$297,833 $185,173 1122 3 2 230 2 117 157 3 2 $138,000 3 22 $216,190 95.24% 117 $145,042 2 $138,356 57 3 2 2 $197,033 88 25 Largo 3 22 438 15 $143,12990 $132,833 292.80% $178,619 33 91 504 2 $191,705 2$205,909 $140,565 1242 16 2 192 2 2 1 20 $683,505 87.64% 188 $533,926 2 $486,011 54 3 2 2 $598,006 South 3 22 972 52 $538,024 $463,017 286.05% 165 1593 Beaches 2 $654,180 2$599,025 $585,646 1262 27 2 204 2 143 148 93 2 $806,158 83 55 $228,067 95.48% 214 $180,230 2 $170,995 84 132 3 2 2 $231,373 98 45 Seminole3 22 670 34 $146,195 744 2 $202,829 2$217,771 $151,444 1022 22 2 2 101 $134,360 291.90% 166 2 $138,601 69 28 $159,264 92.40% 178 $137,720 2 $131,180 92 79 3 2 2 $138,164 94 24 Pinellas Park 22 283 17 $128,871 149 436 3 2 $166,811 2$147,164 $112,360 1012 10 2 2 120 $116,794 290.62% $117,231 44 2 1 1 $369,000 96.20% 181 $200,300 2 $195,817 30 442 2 $389,475 Feather Sound2 56 1 $139,90091 134 $134,000 295.78% $190,380 4 179 72 3 2 2 $265,711 2$355,000 $205,733 1062 6 2 2 5 2 1 113 87.26% 190 $211,260 2 $203,493 98 229 3 2 2 $219,377 St. Petersburg N. $332,839 2$222,320 $318,915 671 22 $252,818 $237,204 293.82% $321,117 46 88 1169 3 22 $254,762 2 1322 37 2 2 109 108 109 2 93.23% 185 $289,375 2 $275,235 72 126 3 2 2 $173,900 98 402 St. 39 Petersburg S.* $346,687 2$153,137 $282,000 717 37 $236,35480 $214,478 290.74% 109 1266 3 22 $164,246 2 1602 55 2 2 2 $450,079 77 Sold CONDO Active Single Family Sold Active Sold Condos Under Contract Sold Sold Pinellas Count Under Contract 14 SINGLE FAMILY SINGLE FAMILY PINELLAS REALTOR® ORGANIZATION Active Total Averages Total Averages Total Averages Count Active © 2008 Pinellas REALTOR® Organization All Rights Reserved. * Includes Gulfport and Pasadena Sold Total Averages Count Sold Total Averages October 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 - October 2008 PROView - October 2008 Contents Chairman's Notes Feature Story PROActive Brokerage Design Marketplace Analysis Home Sales Report MLS Update MLS Mind Your Manners Calendar of Events & Programs New REALTOR® and Affiliate Members Technology PROView - October 2008 PROView - October 2008 - PROView - October 2008 (Page Cover1) PROView - October 2008 - PROView - October 2008 (Page Cover2) PROView - October 2008 - Contents (Page 1) PROView - October 2008 - Chairman's Notes (Page 2) PROView - October 2008 - Chairman's Notes (Page 3) PROView - October 2008 - Feature Story (Page 4) PROView - October 2008 - Feature Story (Page 5) PROView - October 2008 - Feature Story (Page 6) PROView - October 2008 - Feature Story (Page 7) PROView - October 2008 - PROActive (Page 8) PROView - October 2008 - PROActive (Page 9) PROView - October 2008 - Brokerage Design (Page 10) PROView - October 2008 - Brokerage Design (Page 11) PROView - October 2008 - Marketplace Analysis (Page 12) PROView - October 2008 - Home Sales Report (Page 13) PROView - October 2008 - MLS Update (Page 14) PROView - October 2008 - MLS Update (Page 15) PROView - October 2008 - MLS Mind Your Manners (Page 16) PROView - October 2008 - Calendar of Events & Programs (Page 17) PROView - October 2008 - Calendar of Events & Programs (Page 18) PROView - October 2008 - New REALTOR® and Affiliate Members (Page 19) PROView - October 2008 - Technology (Page 20) PROView - October 2008 - Technology (Page 21) PROView - October 2008 - Technology (Page 22) PROView - October 2008 - Technology (Page 23) PROView - October 2008 - Technology (Page 24) PROView - October 2008 - Technology (Page 25)
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