MLS MONTHLY REPORT MAY ‘08

WE ARE BELOW 40,000 UNITS FOR SALE (TAMPA BAY AREA) FOR ONLY THE 2ND TIME SINCE FEBRUARY 2007! It’s certainly not a trend, but it’s a move in the right direction

I have added a new data line – “Sale Price vs Original Sold Price”. I touched on this stat last month and feel that it will really help my clients as they receive/review/decide offers on their properties. The average of sale prices are appr 85% of the original list price – simply put, sellers in the Tampa Bay area are pricing anywhere between 10% - 15% HIGHER than what the market is bearing.

There was a slight uptick in total sales in May, which was expected based on the uptick in Pending Sales in April. Sales of SFH on the N. Beaches DOUBLED from 6 to 12 sales in May, which cut the “Inventory in Months” from 45 to 22 months of inventory.

TAMPA BAY AREA (tri-county) Homes Condos Total Units

Total Units Available: 27,445 12,212 39,657

Total Units Pending: 2,544 678 3,222

Total Units Sold: 1,895 561 2,456

Absorption rate: 6.9% 4.59% 6.19%

Avg Days on Market 99 days 111 days 101 days

Months of Inventory 14.5 mons 21.8 mons 16.1 mons

Sold vs List Price % 92% 92% 92%

Sold vs Original List Price % 84% 85% 85%


PINELLAS COUNTY Homes Condos Total Units

Total Units Available: 9,291 7,199 16,490

Total Units Pending: 805 358 1,163

Total Units Sold: 634 321 955

Absorption rate: 6.82% 4.46% 5.79%

Avg Days on Market 85 days 110 days 93 days

Months of Inventory 14.7 mons 22.4 mons 17.3 mons

Sold vs List Price % 89% 92% 90%

Sold vs Original List Price % 84% 84% 84%


N. BEACHES (476-478, 374, 375) Homes Condos Total Units

Total Units Available: 264 963 1,227

Total Units Pending: 10 56 66

Total Units Sold: 12 38 50

Absorption rate: 4.54% 3.95% 4.07%

Avg Days on Market 88 days 145 days 132 days

Months of Inventory 22.0 mons 25.3 mons 24.5 mons

Sold vs List Price % 90% 90% 90%

Sold vs Original List Price % 89% 83% 85%