WEB JOURNAL

General information Regarding Pinellas County
Real Estate –  August, 2008

Single Family Homes  -

1.      June unit sales almost doubled while the number of listings continues to decline.

            2.  Year to date data shows a 12.4% drop in listings while the absorption rate is improving and was 7.3% for June and 6.1% for July.

3.      There are about 13% more properties in a pending status than a year ago.

4.      About 30% of the properties that are under contract are in foreclosure, pre-foreclosure or potential short sales.

5.      The median sale price for single family homes was $185,000 up $10,000 from $175,000 a month ago but down 15.9% from $220,000 a year earlier.

6.      Activity is picking up in the $300,000 to $400,000 bracket, with 9.7% of all single family homes sold in that segment.  11.4% of homes sold were between $200,000 and $250,000.

7.      The average days on the market, based on single family homes sold in the month of June was 98.37.

Condos –

1.      The number of listings dropped by 18.6% year over year while condo sales were down by 8.1%.

2.      Listings with pending and active with contract status show a slight increase over last year, but echoing the sales rate, properties under contract have slowed as well.

3.      The absorption rate in June was 4.5% and 4.3% in July.

4.      The median sales price for the month of June is $160,000, a decrease from $175,900 for the month of May.

5.      The average days on the market, based on single family homes sold in the month of June was 128.63.

9.8% of condos sold within the $100,000 to $120,000 level and 10.7% of condos priced between $300,000 and $400,000