PROView - November 2008 - (Page 12) Marketplace Analysis The Markets, Fall Season, and Pinellas County The single family market showed distinctive signs of improvement. We previously reported a higher number of pending sales, and September brought some harvest. The absorption rate was the highest it has been this year. Unit sales increased 21.3% from a year ago. It would appear that we may be getting close to the right level for buyers to feel good about buying again. Condo sales, on the other hand, are still working through a slower market. Listings are down 17.2% and sales are also down 6% year over year. Just as with single family homes, the future looks brighter, with pending sales at 22% higher than last year. Pinellas County has a lot going for it. We may have problems with foreclosures and short sales, but they will work through. Sooner, rather than later, we hope. Fall is here and the first Active month of the autumn season was much betterSold last year. than $300,000-400,000: 9.9%. CONDOS: $100,000-120,000: 10.8%; $120,000-140,000: 11.2%; $200,000-250,000: 12.4%; and $250,000-300,000: 8.0%. Absorption Rate The single family home absorption rate was for September 6.2%, the highest for 2008. The rate for condos decreased from 4.3% to 3.6%. Month’s Supply of Inventory (MSI)* With an MSI of 12 to 13, single family homes priced from $120,000 to $150,000 are within a balanced market. Homes priced between $150,000 and $200,000, and $250,000 and 500,000, with MSI figures between 18 and 20, are within a buyer’s market. Single familyCounty Pinellas homes priced between $200,000 to $250,000 and above $500,000 are in an extreme Under Contract buyer’s market, showing an MSI ranging from 21 to 71. Total Averages tal Averages Total Averages ount BR -BA List Price Count BR DOM Sale Price Ann Guiberson, President & CEO BA List Price 513 2 2 $651,002 219 12 2 2 $492,158 $458,917 142 2 To read the full marketplace 2 2 2 and view a video 2 $241,994 196 $102,450 $98,950 analysis 283 2 presentation, please visit www.TampaBayRealtor.com/stats. 2 $179,054 189 922 $159,144 $148,556 361 2 2 $185,501 187 17 2 2 $192,397 $166,103 149 2 2 $149,165 145 922 $138,139 $129,222 Statistics Highlights for September2 $143,033 2008 67 2 2 $143,204 169 93 $132,311 341 2 2 $161,188 163 23 2 2 $130,073 $119,348 Price Class 473 2 2 $224,528 182 12 2 2 $133,079 $119,450 41 2 2 $184,502 231 422 $228,925 $202,000 Most of both sold single family homes and condos 434 2 2 $140,879 194 12 2 2 $127,933 $119,708 several 2 brackets. $429,022 962 2 continue to be spread over 30 2 price$469,330 SFH: 2 $567,319 211 646 2 $120,000-140,000: 11.2%; $140,000-160,000: 10.3%; $148,209 2 $149,456 223 27 2 2 $160,532 286 2 $160,000-180,000: 8.6%; $200,000-250,000: 9.9%; and 2 $112,573 183 822 $118,530 $112,000 59 2 2 $206,871 180 233 $189,950 $177,000 629 2 2 $321,635 203 19 2 2 $168,918 $155,168 702 2 2 $282,913 194 24 2 2 $241,150 $220,575 tal Averages ount BR BA AreaPrice List DOM 133 4 3 North Beaches 212 $1,484,390 248 3 2 Tarpon Springs166 $354,718 404 4 3 East Lake/ Oldsmar $571,729 165 470 3 2 Palm Harbor 151 $443,848 128 3 2 Countryside 135 $320,066 175 3 3 Safety Harbor 171 $423,540 386 3 2 Dunedin $279,825 151 506 3 2 Clearwater $304,154 160 111 3 2 Bellair $594,586 159 401 3 2 Largo $326,034 163 479 3 3 South Beaches194 $1,058,001 786 3 2 Seminole $317,823 165 474 3 2 Pinellas Park 185 $208,368 13 4 2 Feather Sound 143 $441,608 409 3 2 St. $330,868 Petersburg 151 N. 953 3 2 St. $313,164 Petersburg 168 S.* sadena CONDOS Active MLS Activity bySeptember 2008 2008 Area – September February 2007 Count BR BA List Price % SP/LP DOM DOM All condos are 35 2within an extreme134 now 2 $513,205 buyer’s market, 93.24% 75 showing an MSI between 22 and 94. 161 96.58% 264 10 2 2 $202,038 93.34% 166 27 2 2 $157,879 90 Median Price 86.33% 139 Sales50 2 2 $140,133 74 93.54% 120 14 2 2 $130,286 118 The 125 92.50% median sales price for single family homes was 722 $147,229 124 $165,000, down from $175,900 in August. The median 91.75% 143 33 2 2 $144,632 140 sales price for condos was for the month $150,000, a slight 89.75% 106 64 2 2 $161,445 126 88.23% 238 from the August figure of $150,800. 322 $174,600 147 decrease 93.57% 163 34 2 2 $134,581 88 91.41% 168 74 2 2 $519,362 150 92.32% 139 61 2 2 $127,503 104 94.49% 63 46 2 1 $106,042 86 93.18% 92 422 $200,600 100 * Month’s inventory 2 91.85% 116supply of 48 2 is the number of months it would take to sell all the $241,634 150 homes on given 91.46% 136 the market at a2 2 price range for any given point in time. 80 $373,812 70 Pinellas Count Total Averages Total Averages Total Averages Total Total Averages Total Averages Total Averages Count BR BA List Price Count Count BR BA List Price Sale Price Count BR DOM ListCount BR Sale List Price DOM Count BR SP/LPList Price Count BR BA List Price Area BA Price Sale Price % BA DOM % SP/LP BA DOM Price DO DOM North5Beaches 2 $1,333,380 513 2131 2 12 4 $565,125 $492,158 64 115 $458,917 3 93.24% $1,037,660 35 75 79.19% 219 18 $766,917 915 3 2 2 $773,048 $1,056,000 $651,002 2 184 $589,242 2 2 12 2 38 2 2 Tarpon Springs 2 $220,420 142 2 2 $102,450 44 97 $98,950 2 96.58% 264 14 87.67% 196 27 3 $236,482 $234,469 196 3 2 2 $347,513 2$193,243 $241,994 3 133 $250,153 2 2 116 7 2 14 2 $218,755 10 East Lake/ Oldsmar $440,570 283 2 9 $159,144 86 116 $148,556 2 93.34% 166 23 90.26% 189 56 3 2 $361,951 342 4 32 2 $220,621 2$397,677 $179,054 2 109 $228,670 2 $216,935 100 17 2 44 2 $239,107 27 Palm Harbor 22 $295,989 361 2 17 3 2 $192,397 85 106 $166,103 2 86.33% 139 38 92.11% 187 65 $290,582 460 3 2 $225,688 2$272,648 $185,501 2 111 $183,045 2 $170,971 111 21 2 42 2 $180,821 50 1 Countryside 22 $227,500 149 2 9 $138,139 86 99 $129,222 2 93.54% 120 11 94.27% 145 26 3 $216,693 $238,167 217 3 2 $189,569 2$214,486 $149,165 2 106 $236,636 2 2 95 9 2 18 2 $174,375 14 Safety Harbor 22 $393,100 67 2 9 $143,033 $132,311 2 92.50% 125 13 93.14% 89 16 4 $120,633 3 $362,516 96 3 2 $176,966 2$366,154 $143,204 2 169 $129,311 3 2 92 9 2 109 128 10 2 $169,040 7 Dunedin 3 22 $261,362 341 2 23 $130,073 68 90 $119,348 2 91.75% 143 27 92.51% 79 59 3 $298,106 $234,689 595 2 $269,603 2$241,807 $161,188 2 163 $301,997 2 2 114 40 2 73 2 $410,192 33 Clearwater 473 2 12 $133,079 $119,450 2 89.75% 106 33 95.96% 64 83 3 $252,692 $221,668 653 3 22 $183,238 2 $365,772 2$175,838 $224,528 2 182 $263,197 2 2 115 15 2 102 96 39 2 $431,503 64 Bellair 41 2 4 $228,925 $202,000 2 88.23% 238 2 89.85% 61 10 3 $289,967 $473,479 50 4 42 $862,500 2 $249,720 2$775,000 $184,502 2 231 $302,967 2 2 112 3 2 117 149 3 2 $138,000 3 Largo 434 2 12 $127,933 90 81 $119,708 2 93.57% 163 28 94.29% 96 45 3 $138,356 $183,603 504 3 22 $224,738 2 $191,705 2$211,916 $140,879 2 194 $145,042 2 2 124 16 2 25 2 $178,619 341 South Beaches 2 $567,481 962 2 30 3 $486,011 $469,330 $429,022 2 91.41% 168 16 88.40% 211 51 $544,382 1593 3 2 2 $654,180 2$501,675 $567,319 2 187 $533,926 2 2 126 27 2 143 132 93 2 $806,158 74 Seminole 3 22 $239,057 646 2 27 $160,532 $148,209 2 92.32% 139 64 91.23% 98 131 3 $170,995 $223,733 744 2 $202,829 2$218,112 $149,456 2 223 $180,230 2 2 102 22 2 101 85 45 2 $138,601 61 Pinellas Park 22 $139,272 286 2 8 $118,530 $112,000 2 94.49% $117,231 46 63 36 95.43% 183 78 3 $131,180 $145,182 436 3 2 $166,811 2$132,908 $112,573 2 105 $137,720 2 2 101 10 2 120 112 24 2 1 Feather Sound 2 $369,000 59 2 2 4 $195,817 $189,950 91 112 $177,000 2 93.18% $190,380 4 92 1 94.85% 180 6 $385,467 72 3 3 2 $265,711 2$350,000 $206,871 2 106 $200,300 3 3 106 6 2 5 2 1 St.100 3 22 $216,328 Petersburg N. 629 2 19 $168,918 $155,168 2 91.85% 116 92.78% 203 214 3 $203,493 $206,196 1169 2 $332,839 2$200,721 $321,635 2 100 $211,260 2 2 132 37 2 109 110 109 2 $321,117 48 St. Petersburg22 $142,313 702 2 24 $241,150 80 99 402 $220,575 2 91.46% 136 54 92.00% 91 140 3 $275,235 $166,950 1266 3 2 S.* $346,687 2$130,928 $282,913 2 194 $289,375 2 2 160 55 2 2 $450,079 80 Total Averages Total Averages Count CONDO Active Single Family Sold Active Sold Condos Sold Under Contract Sold Sold Under Contract 12 SINGLE FAMILY SINGLE FAMILY PINELLAS REALTOR® ORGANIZATION Active Total Averages * Includes Gulfport and Pasadena Active Sold © 2008 Pinellas REALTOR® Organization All Rights Reserved. Total Averages Count Sold Total Averages November 2008 Under Contract Total Count http://www.TampaBayRealtor.com/stats
Table of Contents Feed for the Digital Edition of PROView - November 2008 PROView - November 2008 Contents Chairman’s Notes Feature Story PROActive Brokerage Design Marketplace Analysis Home Sales Report MLS Update MLS Mind Your Manners 2009 REALTOR® Dues New REALTOR® and Affiliate Members Calendar of Events & Programs PROView - November 2008 PROView - November 2008 - PROView - November 2008 (Page Cover1) PROView - November 2008 - PROView - November 2008 (Page Cover2) PROView - November 2008 - Contents (Page 1) PROView - November 2008 - Chairman’s Notes (Page 2) PROView - November 2008 - Chairman’s Notes (Page 3) PROView - November 2008 - Feature Story (Page 4) PROView - November 2008 - Feature Story (Page 5) PROView - November 2008 - Feature Story (Page 6) PROView - November 2008 - Feature Story (Page 7) PROView - November 2008 - PROActive (Page 8) PROView - November 2008 - PROActive (Page 9) PROView - November 2008 - Brokerage Design (Page 10) PROView - November 2008 - Brokerage Design (Page 11) PROView - November 2008 - Marketplace Analysis (Page 12) PROView - November 2008 - Home Sales Report (Page 13) PROView - November 2008 - MLS Update (Page 14) PROView - November 2008 - MLS Mind Your Manners (Page 15) PROView - November 2008 - 2009 REALTOR® Dues (Page 16) PROView - November 2008 - New REALTOR® and Affiliate Members (Page 17) PROView - November 2008 - New REALTOR® and Affiliate Members (Page 18) PROView - November 2008 - Calendar of Events & Programs (Page 19) PROView - November 2008 - Calendar of Events & Programs (Page 20) PROView - November 2008 - Calendar of Events & Programs (Page 21) PROView - November 2008 - Calendar of Events & Programs (Page Cover3) PROView - November 2008 - Calendar of Events & Programs (Page Cover4)
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