pinellas county real estate statistice september 2012

Monthly Snapshot

For residential real estate activity by members of the Pinellas REALTOR® Organization

One-Year Change inClosed Sales

Single-Family Homes

One-Year Change inMedian Sales PriceSingle-Family Homes

One-Year Change inHomes for Sale

Single-Family Homes

Monthly Indicators

September 2012

+ 7.3% + 5.8% - 15.6%Most housing metrics should follow their usual, autumnal movements – higher inventory and days on market, fewer sales, lower prices. That applies only to month-to-month seasonal trends; most indicators should still show improvement on a year-over-year basis. As you already know, all real estate is local – down to the city neighborhood, suburban development and exurban lot. Let's dive into some local figures.

Residential real estate activity comprised of single-family properties, townhomes and condominiums combined. Percent changes are calculated using rounded figures.

23456789

10111213

Pending SalesClosed Sales

Data as of October 12, 2012. All data from the My Florida Regional Multiple Listing Service. Provided by Florida REALTORS®. Powered by 10K Research and Marketing.

New Listings were up 3.5 percent for detached homes and 4.4 percent for attached properties. Pending Sales decreased 12.8 percent for single-family homes and 1.5 percent for townhouse-condo properties.

The Median Sales Price was up 5.8 percent to $132,250 for detached homes and 18.4 percent to $106,250 for attached properties. Months Supply of Inventory decreased 20.0 percent for single-family units and 23.0 percent for townhouse-condo units.

Not to get negative like a political TV ad, but sluggish job growth, persistently high gas prices, drought-induced spikes in food prices and other global events could threaten consumer confidence. The Fed's mortgage purchases drove Freddie Mac's average 30-year fixed-rate mortgage survey to an all-time low of 3.40 percent. Employment growth remains critical, providing the jobs that will stimulate housing demand and push home prices up to help beleaguered homeowners that have been financially unable to sell for several years.

calculated using rounded figures.

Days on Market Until SaleMedian Sales PriceAverage Sales PricePercent of Original List Price ReceivedHousing Affordability IndexInventory of Homes for SaleMonths Supply of Inventory

New Listings

Single-Family Market OverviewTownhouse-Condo Market Overview

Single-Family Market Overview

Key Metrics Historical Sparklines 9-2011 9-2012 Percent Change YTD 2011 YTD 2012 Percent Change

Key metrics for Single-Family Properties Only, excluding Manufactured Housing, for the report month and for year-to-date (YTD) starting from the first of the year.

New Listings 1,077 1,115 + 3.5% 11,245 - 4.7%

Pending Sales 755 658 - 12.8% 7,857 8,324 + 5.9%

11,798

+ 10.1%

Days on Market 54 36 - 33.3% 61 45 - 26.2%

Closed Sales 786 843 + 7.3% 7,342 8,081

9-2009 9-2010 9-2011 9-2012

9-2009 9-2010 9-2011 9-2012

9-2009 9-2010 9-2011 9-2012

9-2009 9-2010 9-2011 9-2012

+ 8.3%

Average Sales Price $179,676 $187,724 + 4.5% $176,324 $189,010 + 7.2%

Median Sales Price $125,000 $132,250 + 5.8% $120,000 $130,000

+ 3.4%

Affordability Index 187 189 + 1.4% 193 192 - 0.4%

Pct. of Orig. Price Received 88.6% 90.4% + 2.0% 87.3% 90.2%

-- --

Homes for Sale 5,918 4,997 - 15.6% -- --

Data as of October 12, 2012. All data from the My Florida Regional Multiple Listing Service. Provided by Florida REALTORS®. Powered by 10K Research and Marketing. | Click for Cover | 2

--

Months Supply 7.1 5.7 - 20.0% --

9-2009 9-2010 9-2011 9-2012

9-2009 9-2010 9-2011 9-2012

9-2009 9-2010 9-2011 9-2012

9-2009 9-2010 9-2011 9-2012

9-2009 9-2010 9-2011 9-2012

9-2009 9-2010 9-2011 9-2012

Townhouse-Condo Market Overview

Key Metrics Historical Sparklines 9-2011 9-2012 Percent Change YTD 2011 YTD 2012 Percent Change

Days on Market 91 59 - 35.7% 78 63

4,512 4,753 + 5.3%

- 18.7%

+ 4.4%

Closed Sales 432 454 + 5.1%

Key metrics for Townhouse-Condo Properties Only for the report month and for year-to-date (YTD) starting from the first of the year.

6,655 - 10.7%

Pending Sales 403 397 - 1.5% 4,747 4,871 + 2.6%

7,453New Listings 657 686

9-2009 9-2010 9-2011 9-2012

9-2009 9-2010 9-2011 9-2012

9-2009 9-2010 9-2011 9-2012

9-2009 9-2010 9-2011 9-2012

--Months Supply 8.5 6.5 - 23.0% -- --

Data as of October 12, 2012. All data from the My Florida Regional Multiple Listing Service. Provided by Florida REALTORS®. Powered by 10K Research and Marketing. | Click for Cover | 3

+ 3.7%

Homes for Sale 4,219 3,353 - 20.5% -- -- --

Affordability Index 238 222 - 6.4% 237 246

+ 3.3%

Pct. of Orig. Price Received 86.0% 89.7% + 4.4% 86.1% 88.6% + 2.9%

Average Sales Price $140,288 $175,132 + 24.8% $150,735 $155,664

$92,000 + 2.2%Median Sales Price $89,732 $106,250 + 18.4% $90,000

9-2009 9-2010 9-2011 9-2012

9-2009 9-2010 9-2011 9-2012

9-2009 9-2010 9-2011 9-2012

9-2009 9-2010 9-2011 9-2012

9-2009 9-2010 9-2011 9-2012

9-2009 9-2010 9-2011 9-2012

New Listings

New ListingsSingle-Family

Year-Over-YearChange

Townhouse-Condo


October 2011 1,217 -18.6% 708 -27.5%

November 2011 1,151 -16.2% 772 -14.5%

December 2011 967 -24.8% 623 -29.1%

January 2012 1,278 -23.3% 789 -29.4%

February 2012 1,256 -6.7% 775 -16.9%

March 2012 1,326 -13.8% 823 -21.5%

April 2012 1,280 -0.5% 756 -13.4%

May 2012 1,296 +2.9% 730 -1.7%

June 2012 1,215 +3.0% 655 -12.0%

July 2012 1,237 +4.2% 747 +14.9%

August 2012 1,242 -1.2% 694 +1.0%

September 2012 1,115 +3.5% 686 +4.4%

12-Month Avg. 1,215 -8.6% 730 -14.2%

A count of the properties that have been newly listed on the market in a given month.

1,597

9701,077

657

1,115

686

September15,052

9,281

11,798

7,453

11,245

6,655

Year to Date

2010 2011 2012

+ 4 4%32 3%+ 3 5%- 32 6% 19 7%- 4 7%- 21 6% 10 7%2010 2011 2012 2010 2011 2012 2010 2011 2012

+ 0 2% + 1 6% 0 9%6 6%12 Month Avg. 1,215 8.6% 730 14.2%

Historical New Listings by Month

Note on the Historical Line Chart: If no activity occurred during a month, no data point is shown and the line extends to the next available data point.Data as of October 12, 2012. All data from the My Florida Regional Multiple Listing Service. Provided by Florida REALTORS®. Powered by 10K Research and Marketing. | Click for Cover | 4

Single-Family Townhouse-Condo

500

1,000

1,500

2,000

2,500

3,000

1-2008 1-2009 1-2010 1-2011 1-2012



2010 2011 2012

+ 4.4%- 32.3%+ 3.5%- 32.6% - 19.7%- 4.7%- 21.6% - 10.7%2010 2011 2012 2010 2011 2012 2010 2011 2012

+ 0.2% + 1.6% - 0.9%- 6.6%

Pending Sales

Pending SalesSingle-Family


Townhouse-Condo


October 2011 742 +9.0% 451 +17.1%

November 2011 707 -8.4% 433 +2.6%

December 2011 764 +13.5% 407 -1.9%

January 2012 921 +12.0% 556 -1.2%

February 2012 958 +8.9% 640 +10.3%

March 2012 1,065 +1.7% 693 -2.4%

April 2012 1,064 +19.4% 601 -1.3%

May 2012 948 +21.2% 585 +31.2%

June 2012 931 -2.7% 460 -10.5%

July 2012 916 +2.7% 502 +8.7%

August 2012 863 +3.9% 437 -5.0%

September 2012 658 -12.8% 397 -1.5%

12-Month Avg. 878 +5.5% 514 +3.2%

A count of the properties on which offers have been accepted in a given month.

679

448

755

403

658

397

September

6,761

4,109

7,857

4,747

8,324

4,871

Year to Date

2010 2011 2012

1 5%10 0%- 12 8%+ 11 2% + 15 5%+ 5 9%+ 16 2% + 2 6%2010 2011 2012 2010 2011 2012 2010 2011 2012

20 1% 4 7% + 17 3%+ 8 0%12 Month Avg. 878 +5.5% 514 +3.2%

Historical Pending Sales by Month



200

400

600

800

1,000

1,200

1-2008 1-2009 1-2010 1-2011 1-2012



2010 2011 2012

- 1.5%- 10.0%- 12.8%+ 11.2% + 15.5%+ 5.9%+ 16.2% + 2.6%2010 2011 2012 2010 2011 2012 2010 2011 2012

- 20.1% - 4.7% + 17.3%+ 8.0%

Closed Sales

Closed SalesSingle-Family


Townhouse-Condo


October 2011 731 +10.4% 405 +6.9%

November 2011 706 +12.2% 391 +8.9%

December 2011 814 -6.8% 512 -4.3%

January 2012 638 -0.2% 382 +1.3%

February 2012 707 -0.8% 425 -10.3%

March 2012 952 +1.8% 643 +0.9%

April 2012 942 +7.4% 657 +1.7%

May 2012 995 +17.8% 579 +8.8%

June 2012 1,020 +13.7% 565 +4.4%

July 2012 942 +16.7% 514 +17.4%

August 2012 1,042 +23.6% 534 +22.8%

September 2012 843 +7.3% 454 +5.1%

12-Month Avg. 861 +8.7% 505 +4.8%

A count of the actual sales that closed in a given month.

694

471

786

432

843

454

September

6,605

4,030

7,342

4,512

8,081

4,753

Year to Date

2010 2011 2012

+ 5 1%8 3%+ 7 3%+ 13 3% + 12 0%+ 10 1%+ 11 2% + 5 3%2010 2011 2012 2010 2011 2012 2010 2011 2012

15 9% + 3 9% + 25 8%+ 10 3%12 Month Avg. 861 +8.7% 505 +4.8%

Historical Closed Sales by Month



200

400

600

800

1,000

1,200

1-2008 1-2009 1-2010 1-2011 1-2012



2010 2011 2012

+ 5.1%- 8.3%+ 7.3%+ 13.3% + 12.0%+ 10.1%+ 11.2% + 5.3%2010 2011 2012 2010 2011 2012 2010 2011 2012

- 15.9% + 3.9% + 25.8%+ 10.3%

Days on Market Until Sale

Days on MarketSingle-Family


Townhouse-Condo


October 2011 65 +26.2% 74 +15.6%

November 2011 61 +22.0% 76 -1.3%

December 2011 58 -3.3% 77 +24.2%

January 2012 59 +3.5% 70 +4.5%

February 2012 58 -10.8% 76 0.0%

March 2012 51 -22.7% 77 -4.9%

April 2012 46 -26.6% 64 0.0%

May 2012 42 -23.6% 58 -24.7%

June 2012 43 -34.6% 60 -23.1%

July 2012 41 -38.6% 51 -39.3%

August 2012 37 -39.3% 52 -33.3%

September 2012 36 -33.3% 59 -35.7%

12-Month Med.* 48 -18.6% 64 -14.7%

Median number of days between when a property is listed and when an offer is accepted in a given month.

5046

54

91

36

59

September

50

6361

78

45

63

Year to Date

2010 2011 2012

35 7%+ 97 8%- 33 3%+ 8 0% + 23 0%- 26 2%+ 22 0% 18 7%2010 2011 2012 2010 2011 2012 2010 2011 2012

2 0% 20 6% 20 3%36 1%12 Month Med. 48 18.6% 64 14.7%

* Days on Market for all properties from October 2011 through September 2012. This is not the Median of the individual figures above.

Historical Days on Market Until Sale by Month



20

40

60

80

100

120

1-2008 1-2009 1-2010 1-2011 1-2012



2010 2011 2012

- 35.7%+ 97.8%- 33.3%+ 8.0% + 23.0%- 26.2%+ 22.0% - 18.7%2010 2011 2012 2010 2011 2012 2010 2011 2012

- 2.0% - 20.6% - 20.3%- 36.1%

Median Sales Price

Median Sales PriceSingle-Family


Townhouse-Condo


October 2011 $127,000 -11.2% $78,125 -25.6%

November 2011 $108,000 -10.0% $90,000 -18.9%

December 2011 $120,750 -0.6% $90,000 -12.8%

January 2012 $117,000 +15.9% $86,000 +17.4%

February 2012 $120,000 +20.0% $84,625 +5.1%

March 2012 $125,000 +8.7% $82,500 -5.4%

April 2012 $135,250 +8.2% $92,500 +0.5%

May 2012 $131,000 +9.2% $94,950 +5.5%

June 2012 $134,000 +4.3% $100,000 +0.3%

July 2012 $135,000 +10.7% $95,000 0.0%

August 2012 $132,000 +7.3% $89,930 -10.1%

September 2012 $132,250 +5.8% $106,250 +18.4%

12-Month Med.* $128,000 +6.3% $90,000 -3.2%

Point at which half of the sales sold for more and half sold for less, not accounting for seller concessions, in a given month.

$126,825$122,000$125,000

$89,732

$132,250

$106,250

September

$137,500

$116,000$120,000

$90,000

$130,000

$92,000

Year to Date

2010 2011 2012

+ 18 4%- 26 4%+ 5 8%- 1 4% - 22 4%+ 8 3%- 12 7% + 2 2%2010 2011 2012 2010 2011 2012 2010 2011 2012

6 1% 1 8% - 7 2%- 3 2%12 Month Med. $128,000 +6.3% $90,000 3.2%

* Median Sales Price for all properties from October 2011 through September 2012. This is not the Median of the individual figures above.

Historical Median Sales Price by Month



$60,000

$80,000

$100,000

$120,000

$140,000

$160,000

$180,000

$200,000

1-2008 1-2009 1-2010 1-2011 1-2012



2010 2011 2012

+ 18.4%- 26.4%+ 5.8%- 1.4% - 22.4%+ 8.3%- 12.7% + 2.2%2010 2011 2012 2010 2011 2012 2010 2011 2012

- 6.1% - 1.8% - 7.2%- 3.2%

Average Sales Price

Average Sales PriceSingle-Family


Townhouse-Condo


October 2011 $180,316 -3.1% $132,255 -24.8%

November 2011 $171,231 +5.0% $139,819 -12.2%

December 2011 $179,098 +5.9% $145,989 -11.8%

January 2012 $166,584 +1.7% $138,388 +2.4%

February 2012 $170,075 +12.0% $148,403 +5.8%

March 2012 $184,763 +8.2% $148,275 -0.9%

April 2012 $196,909 +8.2% $161,079 +4.5%

May 2012 $194,742 +9.7% $158,494 +1.7%

June 2012 $201,768 +11.1% $155,659 -4.0%

July 2012 $194,494 +6.0% $163,321 +4.3%

August 2012 $190,447 +0.4% $149,025 -4.7%

September 2012 $187,724 +4.5% $175,132 +24.8%

12-Month Avg.* $186,397 +6.2% $152,260 -1.3%

Average sales price for all closed sales, not accounting for seller concessions, in a given month.

$169,646$175,432$179,676

$140,288

$187,724

$175,132

September$185,635

$179,519$176,324

$150,735

$189,010

$155,664

Year to Date

2010 2011 2012

+ 24 8%20 0%+ 4 5%+ 5 9% 16 0%+ 7 2%- 5 0% + 3 3%2010 2011 2012 2010 2011 2012 2010 2011 2012

3 0% 1 8% + 2 9%1 2%12 Month Avg. $186,397 +6.2% $152,260 1.3%

* Average Sales Price for all properties from October 2011 through September 2012. This is not the Average of the individual figures above.

Historical Average Sales Price by Month



$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

1-2008 1-2009 1-2010 1-2011 1-2012



2010 2011 2012

+ 24.8%- 20.0%+ 4.5%+ 5.9% - 16.0%+ 7.2%- 5.0% + 3.3%2010 2011 2012 2010 2011 2012 2010 2011 2012

- 3.0% - 1.8% + 2.9%- 1.2%

Percent of Original List Price Received

Pct. of Orig. Price Received

Single-Family


Townhouse-Condo


October 2011 88.0% +0.6% 88.1% +1.3%

November 2011 88.3% +1.0% 86.4% +1.0%

December 2011 88.1% +2.1% 86.3% -0.2%

January 2012 87.8% +1.5% 87.9% +2.8%

February 2012 89.3% +4.0% 88.2% +3.0%

March 2012 89.5% +4.1% 86.9% +3.3%

April 2012 90.7% +4.5% 87.8% +0.8%

May 2012 91.0% +3.4% 88.7% +3.0%

June 2012 90.8% +4.0% 89.1% +3.2%

July 2012 90.3% +2.9% 89.1% +3.3%

August 2012 91.0% +3.1% 90.1% +3.0%

September 2012 90.4% +2.0% 89.7% +4.4%

12-Month Avg.* 89.8% +3.0% 88.2% +2.4%

Percentage found when dividing a property’s sales price by its original list price, then taking the average for all properties soldin a given month, not accounting for seller concessions.

86.7% 89.3%88.6% 86.0%90.4% 89.7%

September

88.3% 86.7%87.3% 86.1%90.2% 88.6%

Year to Date

2010 2011 2012

+ 4 4%3 7%+ 2 0%+ 2 2% 0 8%+ 3 4%- 1 1% + 2 9%2010 2011 2012 2010 2011 2012 2010 2011 2012

1 8% + 2 5% + 4 0%+ 4 4%12 Month Avg. 89.8% +3.0% 88.2% +2.4%

* Pct. of Orig. Price Received for all properties from October 2011 through September 2012. This is not the Average of the individual figures above.

Historical Percent of Original List Price Received by Month



80%

82%

84%

86%

88%

90%

92%

1-2008 1-2009 1-2010 1-2011 1-2012



2010 2011 2012

+ 4.4%- 3.7%+ 2.0%+ 2.2% - 0.8%+ 3.4%- 1.1% + 2.9%2010 2011 2012 2010 2011 2012 2010 2011 2012

- 1.8% + 2.5% + 4.0%+ 4.4%

Housing Affordability Index

Affordability IndexSingle-Family


Townhouse-Condo


October 2011 183 +5.1% 259 +17.6%

November 2011 208 +3.5% 237 +11.3%

December 2011 192 -2.3% 237 +7.0%

January 2012 197 -3.7% 246 -4.3%

February 2012 195 -5.2% 250 +4.2%

March 2012 187 +0.5% 252 +10.6%

April 2012 179 +1.5% 236 +6.7%

May 2012 185 +0.5% 234 +2.9%

June 2012 183 +3.6% 227 +6.3%

July 2012 184 +0.4% 238 +7.8%

August 2012 186 -0.1% 246 +13.1%

September 2012 189 +1.4% 222 -6.4%

12-Month Avg. 189 +8.5% 240 -21.4%

This index measures housing affordability for the region. An index of 120 means the median household income is 120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability.

190 196187

238

189

222

September

179

204193

237

192

246

Year to Date

2010 2011 2012

6 4%+ 21 2%+ 1 4%1 9% + 16 4%- 0 4%+ 7 7% + 3 7%2010 2011 2012 2010 2011 2012 2010 2011 2012

+ 11 2% + 7 5% + 12 0%+ 8 5%12 Month Avg. 189 +8.5% 240 21.4%

Historical Housing Affordability Index by Month



100

125

150

175

200

225

250

275

1-2008 1-2009 1-2010 1-2011 1-2012



2010 2011 2012

- 6.4%+ 21.2%+ 1.4%- 1.9% + 16.4%- 0.4%+ 7.7% + 3.7%2010 2011 2012 2010 2011 2012 2010 2011 2012

+ 11.2% + 7.5% + 12.0%+ 8.5%

Inventory of Homes for Sale

Homes for SaleSingle-Family


Townhouse-Condo


October 2011 5,921 -34.7% 4,129 -33.1%

November 2011 5,948 -33.0% 4,172 -31.7%

December 2011 5,665 -31.3% 4,031 -29.8%

January 2012 5,561 -33.0% 3,974 -31.1%

February 2012 5,475 -31.4% 3,826 -32.0%

March 2012 5,310 -30.8% 3,674 -32.1%

April 2012 5,161 -29.5% 3,555 -31.2%

May 2012 5,120 -27.7% 3,429 -31.4%

June 2012 5,027 -23.6% 3,355 -29.1%

July 2012 4,976 -20.9% 3,343 -25.6%

August 2012 4,931 -18.8% 3,331 -22.0%

September 2012 4,997 -15.6% 3,353 -20.5%

12-Month Avg.* 5,341 -28.3% 3,681 -29.6%

The number of properties available for sale in active status at the end of a given month.

9,114

6,1325,918

4,2194,997

3,353

September

2010 2011 2012

20 5%31 2%15 6%- 35 1%2010 2011 2012

+ 6 8% 4 5%12 Month Avg. 5,341 28.3% 3,681 29.6%

* Homes for Sale for all properties from October 2011 through September 2012. This is not the Average of the individual figures above.

Historical Inventory of Homes for Sale by Month



2,000

4,000

6,000

8,000

10,000

12,000

1-2008 1-2009 1-2010 1-2011 1-2012


2010 2011 2012

- 20.5%- 31.2%- 15.6%- 35.1%2010 2011 2012

+ 6.8% - 4.5%

Months Supply of Inventory

Months SupplySingle-Family


Townhouse-Condo


October 2011 7.1 -44.0% 8.2 -41.8%

November 2011 7.2 -40.9% 8.3 -40.0%

December 2011 6.8 -39.4% 8.0 -38.0%

January 2012 6.6 -40.4% 7.9 -37.7%

February 2012 6.4 -38.5% 7.5 -37.9%

March 2012 6.2 -37.3% 7.3 -36.9%

April 2012 5.9 -38.4% 7.0 -36.1%

May 2012 5.8 -36.7% 6.6 -36.9%

June 2012 5.7 -30.8% 6.5 -32.3%

July 2012 5.6 -27.2% 6.5 -28.2%

August 2012 5.6 -24.4% 6.5 -24.0%

September 2012 5.7 -20.0% 6.5 -23.0%

12-Month Avg.* 6.2 -36.0% 7.2 -35.3%

The inventory of homes for sale at the end of a given month, divided by the average monthly pending sales from the last 12 months.

12.513.9

7.18.5

5.76.5

September

2010 2011 2012

23 0%39 0%20 0%- 43 2%2010 2011 2012

+ 6 9% 24 0%12 Month Avg. 6.2 36.0% 7.2 35.3%

* Months Supply for all properties from October 2011 through September 2012. This is not the Average of the individual figures above.

Historical Months Supply of Inventory by Month



5.0

10.0

15.0

20.0

25.0

30.0

1-2008 1-2009 1-2010 1-2011 1-2012


2010 2011 2012

- 23.0%- 39.0%- 20.0%- 43.2%2010 2011 2012

+ 6.9% - 24.0%

pinellas county real estate statistice september 2012

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