If you have a home for sale in Tallahassee, then you might be curious about the differing performance levels of different areas in Tallahassee. Some areas of town are doing better than others, and knowing this information can help guide you on your asking price. If your area is getting more popular, you might consider [...]
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Northeast Tallahassee Home Sales Doing Best
If you have a home for sale in Tallahassee, then you might be curious about the differing performance levels of different areas in Tallahassee. Some areas of town are doing better than others, and knowing this information can help guide you on your asking price. If your area is getting more popular, you might consider [...]
Keep Reading...North Florida Home Sales Continue To Struggle
It has been quite some time since I published reports on home sales in the counties that surround the Tallahassee Real Estate Market. Because of time constraints, I usually get to this information on a quarterly basis, but it doesn’t hurt when I get several requests asking for an update.
Reminder: You do not have to [...]
Does The Florida Bankers Association Think You’re Stupid?
A very hot potato is coming to town over the next several weeks, and you really need to pay attention. Who am I talking to? I’m talking to anybody who cares about property values in the State of Florida, but most importantly I’m talking to people who own their homes free and clear as well [...]
Keep Reading...REALTOR® MLS Systems Fraught With Errors
Every month around this time, I am itching to discover the changes in supply and demand in the Tallahassee MLS so that I can anticipate market price movements. What I am hoping to find is an increase in home sales versus the same month in the prior year, and an overall reduction in the inventory [...]
Keep Reading...If you have a home for sale in Tallahassee, then you might be curious about the differing performance levels of different areas in Tallahassee. Some areas of town are doing better than others, and knowing this information can help guide you on your asking price. If your area is getting more popular, you might consider working the top-end of your value range, while the opposite is true if you are in a less-popular area.
The northeast quadrant of the Tallahassee real estate market is growing in market share, while the northwest and southwest quadrants are dropping. The southeast has pretty much remained the same for the past two years. The following graph shows each area over time as a percentage of the market.
The key to understanding what this real estate graph is telling us (and what it is not telling us) is to remember that these are trends (one year averages) and they are the measurement of market share of each quadrant. For example, Northeast Tallahassee home sales were about 42% of the total market in March 2008, but now they represent 51% of the total market.
I think this trend is really showing the cooling off of growth areas in Tallahassee, as opposed to the strengthening of the Northeast. Historically the Northeast Tallahassee housing market has been hovering around the 50% mark, so the current number appears more of a “return to normal” than anything else. We’ll keep an eye on this for further developments.
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