My New Blog

As of December 21, 2011 there are 18,969 listings in MLS for all
residential properties in Pasco County, Hillsborough County and Pinellas
County. Property style as MLS reflects is single family only, however as many
Realtors incorrectly call properties various styles, this may reflect a
combination of condos, townhomes and villas. But it would be a very small
percentage.

Of these 18,969, 7,169 are under contract.

Over the past 12 months, total sales = 27,198 with a median living area of 1,642
sf and $122,500 median sold price. However, the average is 1,835 sf home with
an average sale price of $166,932.

That is a large discrepancy, and due to the majority of distress sales, short
sales or REO's.

Of the 18,969 listings, 9,589 are listed as a short sale or REO.

Of the 27,198 sold, 13,212 are short sales or REO's.

With the above number of home sales in the Tampa Bay area, we have 5.2 months
inventory. Housing inventory is substantially lower than one year ago.

Over the last 90 days there have been 9,212 single family homes
entering the market vs the same period last year of 11,667 listings. This is a
good decrease.

There have been 6,185 sold listings over the past 90 days vs 5,697 same period
last year. If these stay in that direct, prices will start rebounding. However,
I think there are quite a few sellers sitting on the sidelines that will enter
in to the market as we increase. As these seller purchased during the high
times and lost quite a bit, but want to wait until a little bounce up occurs.
This will help hold the market stable for a couple of years. But, stable is
better than down.

Looking at a typical 3 bedroom, 2 bath home between 1,200 - 2,100
sf in the past 90 days:

Pinellas: 587 sales with a median sale price of $140,000/1585sf $90.33 per sf and 50 DOM.
vs last check of 653 sales with a median sale price of $149,000/$90.26 per
sf and 50 DOM.

Pasco: 448 sales with a median sale price of $109,950/1655sf $66.80 per sf and 59 DOM.
vs 510 sales with a median sale price of $108,000/$66.72 per sf and 80 DOM.

Hillsborough: 824 sales with a median sale price of $111,000/1568sf $70.66 per sf and 45 DOM.
vs 943 sales with a median sale price of $108,500/$70.08 per sf and 63 DOM.

Merry Xmas!!!