MLS MONTHLY REPORT NOV ‘09
TAMPA BAY AREA (tri-county) Homes Condos Total Units
Total Units Available: 18,307 9,278 27585
Total Units Pending: 2,407 954 3,361
Total Units Sold: 2,030 632 2,662
Absorption rate: 11.09% 6.81% 9.65%
Avg Days on Market 88 days 111 days 93 days
Months of Inventory 9.0 mons 14.7 mons 10.4 mons
Sold vs List Price % 94% 92% 94%
Sold vs Original List Price % 75% 79% 76%
PINELLAS COUNTY Homes Condos Total Units
Total Units Available: 6,681 5,519 12,200
Total Units Pending: 801 448 1249
Total Units Sold: 679 320 999
Absorption rate: 10.16% 5.80% 8.19%
Avg Days on Market 80 days 117 days 92 days
Months of Inventory 9.8 mons 17.2 mons 12.2 mons
Sold vs List Price % 93% 91% 93%
Sold vs Original List Price % 84% 75% 81%
N. BEACHES (476-478, 370-375) Homes Condos Total Units
Total Units Available: 590 1411 2,001
Total Units Pending: 38 87 125
Total Units Sold: 34 72 106
Absorption rate: 4.07% 5.10% 5.30%
Avg Days on Market 111 days 123 days 119 days
Months of Inventory 17.4 mons 19.6 mons 18.9 mons
Sold vs List Price % 93% 92% 92%
Sold vs Original List Price % 79% 83% 81%
Showing posts with label november real estate sales. Show all posts
Showing posts with label november real estate sales. Show all posts
Tuesday, December 22, 2009
Sunday, December 14, 2008
November was bleak, as expected. Overall home & condo sales rates were about a point lower than October’s sales rates. Pending home sales ticked up (as reported by several media outlets) but many of those don’t make it to closing the next month (or at all!). Pricing is still homeseller’s strongest sales tactic – distressed properties in Tampa Bay sold at an AVERAGE PRICE 23% LOWER than non-distressed properties, which is very stiff competition.
Below is a 5 year lookback at our inventory in Tampa Bay – November’s inventory dipped below 38,000 units for sale for the 1st time in AT LEAST 2 YEARS! Our current rate of supply decay from Nov ‘07 to Nov ’08 is 10%...at current rates, barring any major increase in buyers or inventory, it would take 10 YEARS to get back to healthy, sustainable levels, i.e. 12,000 – 14,000 units! I think the turnaround will be quicker, but no sooner than 2010 until we see that “healthier” market.
Expect December to be as slow as November. I am experiencing more showing calls and also taking clients out more often. I also expect a mental shift in homebuyers in the 1st quarter of 2009 as 1) confidence in a new administration 2) low mtg rates 3) low prices and 4) increased job stability encourage homeowners to explore our market.
TAMPA BAY AREA (tri-county) Homes Condos Total Units
Total Units Available: 26,040 11,446 37,486
Total Units Pending: 1,789 523 2,312
Total Units Sold: 1,406 394 1,800
Absorption rate: 5.40% 3.44% 4.80%
Avg Days on Market 97 days 106 days 99 days
Months of Inventory 18.5 mons 29.1 mons 20.8 mons
Sold vs List Price % 93% 92% 93%
Sold vs Original List Price % 83% 83% 83%
PINELLAS COUNTY Homes Condos Total Units
Total Units Available: 9,089 6,570 15,659
Total Units Pending: 576 270 846
Total Units Sold: 458 204 662
Absorption rate: 5.04% 3.11 % 4.23%
Avg Days on Market 96 days 120 days 103 days
Months of Inventory 19.8 mons 32.2 mons 23.7 mons
Sold vs List Price % 92% 91% 92%
Sold vs Original List Price % 84% 82% 83%
N. BEACHES (476-478, 370-375) Homes Condos Total Units
Total Units Available: 707 1800 2,507
Total Units Pending: 29 72 101
Total Units Sold: 27 48 75
Absorption rate: 3.82% 2.67% 2.99%
Avg Days on Market 91 days 120 days 110 days
Months of Inventory 26.2 mons 37.5 mons 33.4 mons
Sold vs List Price % 92% 90% 91%
Sold vs Original List Price % 83% 82% 83%
Below is a 5 year lookback at our inventory in Tampa Bay – November’s inventory dipped below 38,000 units for sale for the 1st time in AT LEAST 2 YEARS! Our current rate of supply decay from Nov ‘07 to Nov ’08 is 10%...at current rates, barring any major increase in buyers or inventory, it would take 10 YEARS to get back to healthy, sustainable levels, i.e. 12,000 – 14,000 units! I think the turnaround will be quicker, but no sooner than 2010 until we see that “healthier” market.
Expect December to be as slow as November. I am experiencing more showing calls and also taking clients out more often. I also expect a mental shift in homebuyers in the 1st quarter of 2009 as 1) confidence in a new administration 2) low mtg rates 3) low prices and 4) increased job stability encourage homeowners to explore our market.
TAMPA BAY AREA (tri-county) Homes Condos Total Units
Total Units Available: 26,040 11,446 37,486
Total Units Pending: 1,789 523 2,312
Total Units Sold: 1,406 394 1,800
Absorption rate: 5.40% 3.44% 4.80%
Avg Days on Market 97 days 106 days 99 days
Months of Inventory 18.5 mons 29.1 mons 20.8 mons
Sold vs List Price % 93% 92% 93%
Sold vs Original List Price % 83% 83% 83%
PINELLAS COUNTY Homes Condos Total Units
Total Units Available: 9,089 6,570 15,659
Total Units Pending: 576 270 846
Total Units Sold: 458 204 662
Absorption rate: 5.04% 3.11 % 4.23%
Avg Days on Market 96 days 120 days 103 days
Months of Inventory 19.8 mons 32.2 mons 23.7 mons
Sold vs List Price % 92% 91% 92%
Sold vs Original List Price % 84% 82% 83%
N. BEACHES (476-478, 370-375) Homes Condos Total Units
Total Units Available: 707 1800 2,507
Total Units Pending: 29 72 101
Total Units Sold: 27 48 75
Absorption rate: 3.82% 2.67% 2.99%
Avg Days on Market 91 days 120 days 110 days
Months of Inventory 26.2 mons 37.5 mons 33.4 mons
Sold vs List Price % 92% 90% 91%
Sold vs Original List Price % 83% 82% 83%
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