My New Blog

I apologize for the lack of updating over the past month, however I should start back up this weekend.

I have been contracting with FEMA to help victims of hurricane Ike in Texas.

Thank you for your patience!

Paul

10/22/2008

Here are the most recent numbers for the Tampa Bay area! Now included will be total short sales.

Total Listings in Pasco, Pinellas and Hillsborough Combined are as follows for current vs the prior period: 23,818/24,305/24,059/24,298/24,312 Active listings plus 3,209/3,355/3,302/3,363 pending and 18,529/18,416/18,157/18,227/18,207 sold 12 months ending 10/21/2008. Average sales price/Days on Market is $295,577/140 DOM vs $249,894/103 vs $254,507/103 DOM vs $255,721.

The prior 12 month period was 21,440 vs 22,165 vs 22,259 vs 22,665 vs 22,787 with an average sales price of $303,016/225 vs $285,949/86 vs $286,403/85 vs $286,410/83.

Based on the above recent sales and available listings, the absorption rate is still hovering in the 6.3% area reflecting 16 months of inventory.

Of the 23,818/24,305/24,059/24,298/24,312 active listings, 8,230/8,301/8,194/8,220/9,205 are vacant and 4,315/4,135/3,993/3,907/3,113 are in some type of foreclosure stage.

Total active short sales: 1,067

In the most recent month there have been 1,581/1,502/1,736/1,735 sold with an average sale price of $219,887/100 DOM vs $218,270/97 DOM vs $234,668/101 DOM vs $234,822/104 DOM and for the previous 90 days 5,209/5,217/5,370/5,413 sales and an average sale price of $229,532/102 DOM vs $230,194/103 DOM vs $239,154/102 DOM vs $240,986/104 DOM.

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

Currently 469 sales at $201,470/83 DOM vs 418 sales at $215,203/89 DOM vs 419 sales at $214,942/87 DOM vs 433 sales at $217,528/89 DOM vs 433 homes average sold price of $219,745/89 DOM vs 438 homes with an average sale price of $221,241.

For the same period last year it was 431 sold at an average of $254,298/92 DOM vs 450 sold at an average of $258,993/85 DOM vs 471 sold at an average of $260,504/96 DOM vs $263,066/84 DOM vs $261,691.

Above Statistics based on single family homes listed and sold in MLS only.

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