By now you have heard...January home sales were waaaayyyy down. By my calculations, sales in ALL sectors - homes, condos, beach, mainland, etc - were down 40%-50%.
What does this portend?? Well, that "V"-shaped recovery is an extended "U". I think is was a typical post-holiday lull complicated by record low temps (man, was it cold showing houses) coupled w/ a slowly declining market. I think we'll see more "normal" (a term I use very loosely) numbers in Feb and beyond.
The bugger in the covers are now the appraisals. Arms length sellers and buyers are watching their dreams evaporate thanks to new mortgage rules that require ZERO communication between sellers, buyers, realtors, mortgage brokers, etc. This rule would have been great 4-5 years ago but there are few who believe they can get away with mortgage fraud these days...which is what these rules aim to eliminate. Now, it's the regular joes like you and me who can't move on with their lives because some appraisers are UNWILLING to correctly value our homes.
Showing posts with label tampa bay area home sales. Show all posts
Showing posts with label tampa bay area home sales. Show all posts
Tuesday, March 02, 2010
Tuesday, December 22, 2009
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%
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%
Tuesday, September 15, 2009
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%
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%
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