The Tallahassee Housing Market is undergoing a pleasant change right now. Most of the key indicators signal that we might be starting a recovery.
Is it due to the fact that we have spent two years selling roughly 50% of the number of homes that our market history sells? Or is it due to the Home Buyers Tax Credit (both the extension of the First Time Homebuyers Program as well as the extension into a program for all)?
I think it most likely is a combination of both of these. I also think it is wise to keep track of what is occurring, as we know that there still exists several reasons why our market is not going to "return to normal" for quite some time.
Pending Home Sales In Tallahassee Continue To Rise
Maybe the most important trend that we can track from the Tallahassee MLS is the daily movement in the one-year trend of pending home sales. These are homes that are "under contract" between a buyer and seller, but have yet to close. Tracking pending home sales allow us a glimpse of what sales activity should look like in the next 60 days. As you can see from the real estate graph below, pending home sales are rising nicely.
Positive Results In Closed Home Sales
While the Pending Home Sales Report show us what is going to happen, the proof comes from the Closed Home Sales Report. The existing news comes from the following report, and the results show that home sales in Tallahassee are finally on the rise.
Keeping An Eye On Tallahassee Home Inventory
Another very important measurement that we maintain at the Tallahassee Real Estate Web Site is the current state of supply and demand in the Tallahassee housing market. The following graph show the 30 Day Trend of home supplies, which show that both activity and home supply has been dropping for quite some time.
Tallahassee Real Estate Market Reporting
Ultimately, it is nice to have a "picture" that tells us everything that we have seen above. The next graph is exactly that, showing in a single view the current state of the Tallahassee housing market.
This one graph really gives us a feel for current trends, and that is why we update this report twice per week at our market reports page, a Tallahassee real estate web site full of charts, graphs, and analysis of the Tallahassee real estate market. You should definitely create a link to that page if you want easy access in your web browser to the most updated information on housing in Tallahassee.
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Joe Manausa is a real estate blogger, a real estate investor and the Broker and Co-Owner of Joe Manausa Real Estate. He can be reached via e-mail through the Tallahassee Real Estate Website or catch his latest writings on the Tallahassee Florida Real Estate Blog , or by calling (850) 386-2001.
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.