Real estate continues to take a hit in the Tampa Bay area as we grapple with 3 times the normal amount of inventory and only 6 out of 100 available properties selling in the Tampa metro area.

The beaches, spurred by investors and "flippers", are still in sticker shock as only 3 out 100 available properties sold in October.

The global credit crises may be to blame for the lower than anticipated numbers, but in the end we are still in a supply vs. demand correction. Condos are doing only half as well are SFH, but both types of homeowners are seeing sales prices at appr 80% - 85% of the original sales price...


MLS MONTHLY REPORT October ‘08


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

Total Units Available: 26,431 11,677 38,108

Total Units Pending: 2,074 534 2,608

Total Units Sold: 1,671 446 2,117

Absorption rate: 6.32% 3.82% 5.56%

Avg Days on Market 95 days 107 days 97 days

Months of Inventory 15.8 mons 26.2 mons 18.0 mons

Sold vs List Price % 93% 90% 93%

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


PINELLAS COUNTY Homes Condos Total Units

Total Units Available: 9,253 6,672 15,925

Total Units Pending: 627 239 866

Total Units Sold: 547 227 774

Absorption rate: 5.91% 3.40 % 4.86%

Avg Days on Market 88 days 110 days 95 days

Months of Inventory 16.9 mons 29.4 mons 20.6 mons

Sold vs List Price % 92% 89% 91%

Sold vs Original List Price % 85% 81% 84%


N. BEACHES (476-478, 370-375) Homes Condos Total Units

Total Units Available: 700 1785 2,485

Total Units Pending: 26 57 83

Total Units Sold: 20 48 68

Absorption rate: 2.86% 2.69% 2.74%

Avg Days on Market 104 days 125 days 118 days

Months of Inventory 35.0 mons 37.2 mons 29.9 mons

Sold vs List Price % 90% 87% 88%

Sold vs Original List Price % 83% 79% 80%