The buzz around town (at least in my Tallahassee Real Estate world) is everybody speculating about what the Tallahassee housing market is going to do this year. In yesterday's blog, I summarized Dr. Hank Fishkind's 2009 Real Estate Forecast for the State of Florida, as well as what his expectations are for the Tallahassee real estate market. We will go into great detail about his findings in our newsletter (click here for The Tallahassee Real Estate Newsletter).
But just as I pointed out last year, Fishkind uses numbers that differ with mine. If you are a regular reader of the Tallahassee Real Estate Blog, then you know that I prudently track all sales in Tallahassee (Leon County), not just the ones reported in the Tallahassee MLS. We have reported that Tallahassee REALTORs only account for about 2/3rds of the market, therefore we have to track all deed filings to really know the complete market view.
Tallahassee Single Family Resale Home Numbers Have Fallen
While our numbers differ quite a bit from the numbers reported in the Fishkind 2009 Real Estate Forecast, they do parallel in showing that prices have gone up since 2000 and volume has dropped since 2005. The major difference is that we are still holding price much better than he concludes, therefore I have to wonder if the partial data that he is using is affecting his conclusions.
In the real estate graph above, Fishkind reports average price per year as shown with the red line, whereas recorded deeds in Leon County (Tallahassee) are shown in the red shaded area. Similarly, Fishkind reports Volume (unit sales) as shown with the blue line, whereas real volume is shown in the blue shaded area.
Joe Manausa Real Estate Launches Newsletter For Tallahassee Housing Market
The discrepancies between what gets reported about the Tallahassee real estate market nationally and at the State level have created a need for a much better source of information about the housing market in Tallahassee. Due to this demand, we have created the The Tallahassee Real Estate Newsletter and will be reporting all about Tallahassee Real Estate with accurate information, confirmed at the local level. We encourage you to sign up for the Tallahassee Real Estate Newsletter and to continue providing the feedback through the remarks section below that guides the future content of what we do here and in the newsletter.
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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.