Current Supply and Demand For Tallahassee Housing Can be downloaded by clicking the image to the right.
Tallahassee Home Buyer Activity
Tallahassee Housing Inventory: 30 Day Trend Report
Home Sales Failure Rate
Another interesting trend to watch is the comparison of home failures (homes that failed to sell during their listing period in the Tallahassee MLS) versus homes that were listed for sale over the past year. This trend gives us a feel for how hard it is right now to sell a home in Tallahassee.
The failures is a measure of the number of homes that failed to sell over the past year compared to the number of homes that were newly listed for sale over the same period of time. Based upon the current trend, we have seen failures explode as high as 85%., though the current trend seems to be getting better. This means that we are consuming inventory, but more through failures than through sales. We are now able to observe these trends on a 1-year basis , allowing the seasonal distortion to be removed (meaning a whole year’s data means that there are no spikes due to time of the year changes).
One Year Trend In Tallahassee Housing Market Inventories
Tallahassee Home Sellers Find Difficulty Selling Their Homes
The next real estate graph is what we refer to as the “Sales Success Graph.” We track the number of homes that sell and compare it to the number of new homes listed during the same period of time. The short-term has improved greatly over the past four months, with a sales success level starting to rebound from a depth of 20% to roughly 55%.
We observe the long-term trend crossing over the 41% mark, which is right at the level it was just 1 year ago. We hope to continue to see this rise, but we are concerned with the mounting inventory of homes in the “Shadow Inventory” that the supply side is going to grow again next year.
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Joe Manausa, MBA is a 25 year veteran of real estate brokerage in the State of 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.