July’s sales data is very similar to June’s…here are some highlights:

• Across all segments, SFH sales are doing much better than condo sales.
• Roughly 6.20% of all homes for sale in the tri-county Tampa Bay area sold in July. Simply put, it’s appr 6 out of every 100 properties.
• Beach home sales rebounded from their low sales in June to “regular” sales volume in July.
• Beach condos are selling (on average) at 79% of original list price!
  

MLS MONTHLY REPORT JULY ‘08


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

Total Units Available: 26,748 11,918 38,666

Total Units Pending: 2,285 619 2,904

Total Units Sold: 1,885 513 2,398

Absorption rate: 7.05% 4.30% 6.20%

Avg Days on Market 99 days 125 days 104 days

Months of Inventory 14.2 mons 23.2 mons 16.1 mons

Sold vs List Price % 94% 93% 93%

Sold vs Original List Price % 86% 84% 85%


PINELLAS COUNTY Homes Condos Total Units

Total Units Available: 9,163 6,864 16,027

Total Units Pending: 683 328 1,011

Total Units Sold: 574 280 854

Absorption rate: 6.26% 4.08% 5.33%

Avg Days on Market 96 days 143 days 111 days

Months of Inventory 16.0 mons 24.5 mons 18.8 mons

Sold vs List Price % 92% 92% 92%

Sold vs Original List Price % 85% 82% 84%


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

Total Units Available: 246 920 1,166

Total Units Pending: 12 38 50

Total Units Sold: 14 37 51

Absorption rate: 5.69% 4.02% 4.37%

Avg Days on Market 98 days 180 days 158 days

Months of Inventory 17.6 mons 24.9 mons 22.9 mons

Sold vs List Price % 90% 91% 91%

Sold vs Original List Price % 86% 79% 82%

Here are some quick "tidbits" for you:

1. The First-Time Home Buyer Tax Credit was just signed into law and it may be confusing for some to understand. The "credit" is actually a NO-INTEREST loan that will be repaid over a period of 15 years (read the fine print). It's a great deal, don't get me wrong, but it's not FREE MONEY ;-( To qualify, a buyers' date of first occupancy must be on or after April 9, 2008 and before July 1, 2009. Visit www.federalhousingtaxcredit.com for more info.
2. If you have a Citizen's Wind Insurance policy, you may need a new roof w/i the next 6 months. An article in the St. Petersburg Times describes a homeowner with a shingle roof more than 25 years old AND/OR any type of roof more than 50 years old (i.e. concrete tile) may have their policy non-renewed when it expires. Call your insurance agent with any questions.
3. Hundreds of foreclosed homes will be auctioned off in Tampa on August 13, 2008 and other parts of the state thereafter. Sponsored by Hudson and Marshall, (www.hudsonandmarshall.com), this aution may be a chance for investors to get in on a property with instant equity. If you go, make sure you register and bring the required downpayment in certfied funds (normally 5%-10%). The balance of funds are normally due within 30 days.