Another Colorful Tallahassee Housing Report

Posted by Joe Manausa on Monday, November 16th, 2009 at 12:11pm.

Daily home sales in Tallahassee are increasingThe 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.

Tallahassee Real Estate Market Pending Home Sales

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.

Tallahassee Real Estate Market Daily Home Sales

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 30 Day Home Inventory Change Trend

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.

Tallahassee Real Estate Market 1 Year Home Inventory Change Trend

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.

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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.

2 Responses to "Another Colorful Tallahassee Housing Report"

Sandy Brown wrote: Hi there, been doing this since 1981 and do have lots of past and present clients really interested in yor wonderful information.

What is hard to convey for me is that even though sales are creeping up a bit, prices are not as far as I can tell. Would you cover this ,in comparing sales increases to prices increases? Thank you, Sandy

Posted on Monday, November 16th, 2009 at 1:25pm.

Joe Manausa, MBA wrote: Answered Sandy's question in the following post.

Posted on Thursday, November 26th, 2009 at 11:33am.

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