Every morning, most active Realtors produce a report from their local Multiple Listing Service (in Tallahassee, ours is the Tallahassee Board of Realtors Multiple Listing Service) in order to find out what is happening.
The name of this report is called "The Hotsheet" and it lets us know what property listings have had certain activities in a specific time period. I like to pull a hotsheet every morning that shows me the previous day's activity.
But I also like to pull a continuous thirty-day hotsheet in order to see what kinds of trends and changes are occurring in the market. This morning's 30-day hotsheet for the Tallahassee real estate market yielded the following information:
- New Listings in the Tallahassee real estate market: 546
- Price Changes in the Tallahassee real estate market: 594
- New Sales in the Tallahassee real estate market: 199
- Expired (failed to sell) Listings in the Tallahassee real estate market: 90
- New Pending Sales in the Tallahassee real estate market:335
These are fairly good numbers, but standing alone (without any history), they do not say a whole lot.
546 new homes hit the market and only 199 left as sales (36%). Obviously, I'd like to see a higher ratio than that.
There are many valuable pieces of information on the one-day hotsheet that when charted over time, yield some very important information. We publish much of this in our one-page weekly special report, which you can receive for free in conjunction with the Tallahassee Real Estate Newsletter. Stay informed, nothing could be easier.
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Joe Manausa, MBA is a 26 year veteran of real estate brokerage in Tallahassee, Florida and has owned and managed his own company since 1992. He is a daily blogger with content that focuses on real estate analytics and providing his clients with a tactical advantage in today's challenging market.