APRIL HOME/CONDO SALES NUMBERS FOR THE TAMPA BAY AREA!
It is my personal belief, given the unemployment rate, plummeting incomes, and the inflation just around the corner, that our market has quite a bit of time ahead of it before it "turns the corner". However, April sales numbers are surprisingly strong, given the last 6 tumultuous months.
However, strong is a relative word. 9 out of every 100 homes sold in April...quite a difference from the meteoric (and now unsustainable) 30 to 40 homes per 100 sold in 2005 - 2006. Single family homes, which make up roughly twice as much of the Tampa Bay market as condos do, registered the strongest performance, most likely owing the the fact that prices have receded to 2002 & 2003 levels.
Beach properties are still weak, but much stronger than recent prior months. Final sales prices for all classes of homes are in the low 80% range...meaning that if you list your home, on average you will sell it at around 80% of it's initial listed value...Sellers, take note!!!
TAMPA BAY AREA (tri-county)Homes Condos Total Units
Total Units Available: 21,748 10,440 32188
Total Units Pending: 3,352 922 4,274
Total Units Sold: 1,942 585 2,527
Absorption rate: 8.93% 5.6% 7.85%
Avg Days on Market 100 days 111 days 103 days
Months of Inventory 11.2 mons 17.8 mons 12.7 mons
Sold vs List Price % 93% 91% 93%
Sold vs Original List Price % 83% 80% 82%
PINELLAS COUNTY Homes Condos Total Units
Total Units Available: 7,675 6,122 13,797
Total Units Pending: 1086 460 1546
Total Units Sold: 645 301 946
Absorption rate: 8.40% 4.92% 6.86%
Avg Days on Market 94 days 120 days 102 days
Months of Inventory 11.9 mons 20.3 mons 14.6 mons
Sold vs List Price % 92% 90% 92%
Sold vs Original List Price % 82% 81% 82%
N. BEACHES (476-478, 370-375) Homes Condos Total Units
Total Units Available: 677 1772 2,449
Total Units Pending: 55 100 155
Total Units Sold: 46 69 115
Absorption rate: 6.79% 3.89% 4.70%
Avg Days on Market 93 days 146 days 125 days
Months of Inventory 14.7 mons 25.7 mons 21.3 mons
Sold vs List Price % 92% 91% 91%
Sold vs Original List Price % 83% 80% 82%
About Me
- Rich Cornelius
- Born in New York, I retired to the Tampa Bay area at the ripe old age of 18 months, and have been a resident ever since. I attended Embry-Riddle Aeronautical University, received my Bachelors Degree in Aeronautical Science and became an airline pilot with a major carrier. After 5 years in professional aviation, I joined Sand Key Realty, Sales & Rentals. While at Sand Key Realty, I successfully sold more than $10M in residential real estate, including one of the highest sales on record on Clearwater Beach. In June of '07, I joined Coldwell Banker Residential Real Estate in Clearwater so I could better serve family, friends and clients alike and meet all of their real estate needs. In real estate, as in aviation, I do it right the first time because of the trust and responsibility placed in me by my clients. Simply put, it’s all about the details.
No comments:
Post a Comment