The May numbers are in and the most noticeable trend is our sinking inventory, which is 1 half of the supply demand equation. Inventory is hovering at the 31,000 unit mark, which is the lowest level in at least 2 years. Is the market stabilizing...yes. But like a train coming to a stop, it will take time.

Another notable number is the ABSORPTION RATE for Tampa Bay area homes...almost 10%. we haven't seen double digit absorption rates in about 18 months. In laymans terms, roughly 1 out of every 10 homes listed for sale actually sold in the month of May.

Beach properties are stabilizing, but the Days on Market is HORRENDOUS. Beach condo sellers can expect their average sale time to be 154 day...5 months! By pricing competitively and being open to buyer incentives, you can shave this time way down.

MLS MONTHLY REPORT May ‘09


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

Total Units Available: 20,722 10,078 30800

Total Units Pending: 3,240 1053 4,293

Total Units Sold: 2,019 576 2,595

Absorption rate: 9.75% 5.72% 8.43%

Avg Days on Market 105 days 117 days 107 days

Months of Inventory 10.3 mons 17.8 mons 11.9 mons

Sold vs List Price % 93% 90% 93%

Sold vs Original List Price % 82% 80% 82%


PINELLAS COUNTY Homes Condos Total Units

Total Units Available: 7,472 5,978 13,450

Total Units Pending: 995 543 1538

Total Units Sold: 641 322 963

Absorption rate: 8.58% 5.39% 7.16%

Avg Days on Market 103 days 126 days 111 days

Months of Inventory 11.7 mons 18.6 mons 14.0 mons

Sold vs List Price % 92% 89% 91%

Sold vs Original List Price % 80% 80% 80%


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

Total Units Available: 645 1702 2,347

Total Units Pending: 59 137 196

Total Units Sold: 37 90 127

Absorption rate: 5.74% 5.29% 5.41%

Avg Days on Market 134 days 154 days 148 days

Months of Inventory 17.4 mons 18.9 mons 18.5 mons

Sold vs List Price % 93% 89% 90%

Sold vs Original List Price % 79% 79% 79%