Tallahassee Homes Sales Down 50% From 2006Note that this graph reads from right to left and that it includes all types of residential real estate including single family detached (RS) as well as condominiums and townhouses (CT). The blue bar shows new home sales, the garnet bar shows resales, and the gold bar is the total of the two. Letting your eyes walk from right to left, the yellow bar represents all Tallahassee home sales through July of each year, and you can see how the market moved upwards for six straight years, then plummeted over the next two years. While it is no fun to see the market correct this sharply, one must also recognize the downward move is much sharper than was the upward move, meaning we are correcting this on a fairly rapid pace and the end of the downward spiral is near. We are already observing receding inventories (though inventories are still way too high) and if the real estate market trends that we are tracking now hold throughout the end of the year, I think 2009 will be considered the year that the market came back. Time will tell.... I'll be here.
As a reminder for those who subscribe to the Tallahassee Real Estate Blogby email, some embedded pictures and videos might not be appearing in your email and you might need to click the title header to go to your browser where all will be visible.
If you like this Article then please subscribe to my blog through a full RSS feed, or you can . You will be able to stay informed about the happenings in the Tallahassee Real Estate Market. You can also subscribe to this blog and have it delivered by Email.
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.