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This weeks inventory has increased along with vacant properties. A foreclosure filings are up, I'm presuming the short sales are not going well with the lenders causing more homeowners letting the property go.                         Pasco                                Pinellas                      Hillsborough

Active/Vacant  6811/2609 38% 8679/3035 35%   12808/3973 31%

Sold (12 months)    4065             5863                   7136

Avg. Sale $      $206,928          $283,082              $307,136

Above Statistics for each county are based on single family homes only.

This Week as of 05/26/2008

Total Listings in Pasco, Pinellas and Hillsborough Combined are as follows: 24,650 active listings plus 3,401 pendings and 18,163 sold 12 months ending 05/26/2008. Average sales price/Days on Market is $271,589/77. The prior 12 month period was 24,661/72 with an average sales price of $289,464.

Of the 24,650 active listings, 8,301 are vacant and 3,157 are in some type of foreclosure stage.

In the most recent 30 days there has been 1,444 sold with an average sale price of $264,396/90 and for the previous 90 days 4,589 sales and an average sale price of $249,053/93. 

Above Statistics based on single family homes only.

Sponsored by Associated Appraisal Group, Inc. - appraising real estate in Pinellas, Pasco and Hillsborough Counties.

Total active listings are prcentage of vacancies appears to be holding. Average sales price is basically holding.

                                                         Pasco                                Pinellas                      Hillsborough

This Week

Last Week

Active/Vacant  6127/2349 38% 8464/2954 35%   10445/3178 30%

Sold (12 months)    4321             5943                   8051

Avg. Sale $      $206,315          $281,617              $300,030

Above Statistics for each county are based on single family homes only.

Sponsored by Associated Appraisal Group, Inc. - appraising real estate in Pinellas, Pasco and Hillsborough Counties.

Though this was of interest from FAR

HOME SALES

Florida Realtors reported positive signs in their local housing markets during first quarter 2008, noting a slower rate of expansion for inventory levels and an increase in pending home sales in some areas. Another positive note: A total of 8,581 existing condos sold statewide during the quarter, up 8.3 percent over fourth quarter 2007. "If we look at what is happening month-over-month for 2008, it appears that the bottom may be here," says 2008 FAR President Chuck Bonfiglio. "We are now seeing more activity, more sales and even prices starting to rise in some markets."

Read the full story:

http://www.floridarealtors.org/NewsAndEvents/n1-051308.cfm
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Total active listings are down slightly. Percentage of vacancies appears to be holding. Average sales price is also holding.

                                                         Pasco                                Pinellas                      Hillsborough

Active/Vacant  6127/2349 38% 8464/2954 35%   10445/3178 30%

Sold (12 months)    4321             5943                   8051

Avg. Sale $      $206,315          $281,617              $300,030

Above Statistics for each county are based on single family homes only.

Sponsored by Associated Appraisal Group, Inc. - appraising real estate in Pinellas, Pasco and Hillsborough Counties.

New statistics came out from our local board. March sales volume and sales price is up slightly from March 2008. Good sign. Condos are still taking a beating. I have gone through this type of market several times and it is all psychologically driven. Condos should be relatively close to the bottom. Single family homes in Pinellas & Hillsborough are at or near the bottom. Pasco I think has a little more to go to smooth out the rough spots.

As of today we have 28,696 listings between the three counties with 2,931 pending sales and 17,045 sold listings with an average sales price of $275,126. It is still 20 months of listing inventory though.

I'll give a county by county count of single family homes over the weekend.

Enjoy your weekend and Happy Mothers Day!!!