Q1-2017 B Erhardt Tampa Bay Area Land Quarterly Report

Erhardt’s Tampa Bay Land Market Overview | Quarterly Report Q1 - 2017

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TAMPA BAY SINGLE FAMILY MARKET OVERVIEW MetroStudy Market Briefing, Q4-2016, www.MetroStudy.com • 2016 starts are up 16.9% to 8,785. We are now at 88% of the long term average of 10,000 starts. • 34% of the units sold were in the $200K-$300K category. 11% were in the $300K+ category. • New sales to entry level buyers have exceeded resale since 2013. • Starts by market area: Hillsborough 5,186, Pasco 2,412, Pinellas 603, Hernando 393, Citrus 191 • The table below ranks the top ten communities in the market by annual starts and their price range:

Community (Area) Annual Starts RANK COMMUNITY (AREA) PRICE RANGE

ANNUAL STARTS

1

Wiregrass

$150-$2963 $88-$1600

340 324 304 227 219 178 172 137 132 130

2 3 4 5 6 7 8 9

FishHawk Ranch

Waterset

$150-950

Long Lake Ranch Starkey Ranch Oak Creek (SHE) Valencia Lakes Magnolia Park Ayersworth Glen

$200-$500 $150-$550 $100-$305 $177-$460 $111-$300 $124-$376 $110-$297

10

Hawks Point

• Vacant Developed Lots and Months of Supply: –– Pasco County - 5,922 vacant developed lots, 29.5 months of supply –– Hillsborough County - 8,666 vacant developed lots, 20.1 months of supply

Top Builders as of 4Q 2016 RANK Builder

Closings

1

Lennar (WCI)

1,844

22.8%

2 3 4 5 6 7 8 9

DR Horton CalAtlantic

740 615 520 393 370 358 330 286 235

Taylor Morrison

Pulte Group

Homes by WestBay

M/I Homes NVR/Ryan

David Weekley

10

GL Homes

Top 10

5,691

70.4%

8