August stats are in and they aren't half bad. We have not fropped through 28,000 units yet, which I would have liked to see. I still believe our "healthy" Tampa Bay area levels are around 15,000 - 18,000 homes for sale. So we are slightly less than double our normal inventory, which is still applying downward pressure to prices.

I am amazed that some of average sale prices are up to 25% LOWER than their original listing price and around 85% - 90% of the current list price.

However, there are buyers out there. Recently wrote an offer for a client for a small bank-owned forclosure that was on the market for just 3 days. Wouldn't you know the realtor had 10+ offers in under 72 hours of listing the property! Normal retail homes in average condition will find their values similiar to what they were in 2002 & 2003...you can't change it and the new privacy fence or low flow toilets will not add extra value to the home.

MLS MONTHLY REPORT August ‘09


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

Total Units Available: 19,009 8,999 28008

Total Units Pending: 3,252 988 4,240

Total Units Sold: 2,031 578 2,609

Absorption rate: 10.68% 6.42% 9.32%

Avg Days on Market 96 days 103 days 98 days

Months of Inventory 9.4 mons 15.6 mons 10.7 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: 6,927 5,442 12,369

Total Units Pending: 1073 459 1532

Total Units Sold: 653 297 950

Absorption rate: 9.42% 5.46% 7.68%

Avg Days on Market 86 days 110 days 94 days

Months of Inventory 10.6 mons 18.3 mons 13.0 mons

Sold vs List Price % 91% 90% 91%

Sold vs Original List Price % 78% 79% 78%


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

Total Units Available: 588 1511 2,099

Total Units Pending: 55 103 158

Total Units Sold: 36 80 116

Absorption rate: 6.12% 5.29% 5.53%

Avg Days on Market 130 days 124 days 126 days

Months of Inventory 16.3 mons 18.9 mons 18.1 mons

Sold vs List Price % 83% 88% 85%

Sold vs Original List Price % 72% 78% 75%