Q3-2018 B Erhardt Tampa Bay Area Land

Quarterly Report Q3 - 2018

Single Family Market Overview Provided by Landmark Reports 813-810-4335, Chris@landmarkreports.com

Tampa New Home Closings By County

County

# of closings

Aggregate Closings

Avg Closing Price

Avg HSF

Avg FF

1

Hernando

199

$45,125,135

$226,759 $288,402 $387,315 $332,682 $393,857 $373,179

2,090 2,377 2,293 2,480

68 49 56 54 35 52

2 Hillsborough

5,386 1,653 2,898

$1,553,335,838 $640,232,362 $964,112,990 $132,245,371 $672,467,673

3 Manatee 4 Pasco 5 Pinellas 6 Sarasota

336

2,175

1,802

2,098

Closings By County Submarket

County

# of closings

Avg Closing Price

1

Citrus Park/NW Tampa

486 199 238 240 439 956

$557,725 $226,759 $248,037 $363,949 $294,266 $368,425 $269,739 $361,451 $342,302 $230,869

2 Hernando

3 I-4/Plant City 4 North of SR 64 5 North of the river

6 SR 54/Trinity

7 South Hillsborough

4,424 1,348

8 Wesley Chapel/New Tampa

9 West of I-75 infill

221 283

10 Zephyrhills

Top 10 By Community

County

# of closings Avg Closing Price

Avg HSF

Avg FF

1

Waterset

274 263 234 225 220 220 219 190 189 188

$335,425 $328,466 $368,695 $412,591 $310,079 $360,773 $289,819 $344,577 $186,001 $209,273

2,521 2,346 1,878 2,671 2,393 2,507 2,606 2,559 1,614 2,140

52 50 46 58 48 54 48 25 48 51

2 Bexley South

3 Islandwalk at the West Villages 4 Villages of Starkey Ranch

5 Epperson Ranch South 6 Fishhawk Ranch West

7 Connerton Village

8 Union Park 9 Oak Creek

10 Cypress Creek

Notes From Zonda Frame Tampa 9/20/19

–– Pasco 3,800 –– Pinellas 800 –– Hernando 500

National • Existing home sales 85% of national market • New homes up 12.8% nationally • Mtg rate 5.1% in 2019 • Median home size 2,400 SF. In 2000 it was 2,100 SF

• Lakeland up 16%, new home affordable YOY. Tampa is up 2% • Tampa 2.3 months supply new homes should be 3x’s that and 6 months is balanced • Tampa 1.49/job to permits Lakeland 1.09 • Demand is pushing prices up 8% in Tampa and 4% in Lakeland • Home Prices –– 38% below $250k

–– 31% 1,000-1,499 –– 27% 1,500-1,999 –– 58% • Challenges – affordable Local • Permits last 12 months –– Hillsborough 8,000

–– 49% $250-$450k

5