 |
|
Home sellers in Tallahassee have been following predictable patterns for longer than my 20 years in the real estate brokerage business. When they decide they need to sell a home in Tallahassee, they hit the market in early February with the hopes of being moved before the end of the summer.
But something is different this year. We know there is a back-log in the shadow inventory of homes, and we know there is a pile of homes that failed to sell over the past three years that will most likely re-emerge as homes for sale in Tallahassee in 2011. We have anticipated more than two year’s supply of homes that need to emerge, So what is going on?
Short Term Home Inventory Graph
If we track the thirty day inventory trends in the Tallahassee housing market over time, we observe seasonal cycles. Home sales spike around June of each year, and listing inventory grows at the fastest pace near the beginning of February. Typically, the number of homes for sale in Tallahassee increases from February through April or May of each year. So what’s going on now?
In the real estate graph above, the red area measures the average number of homes coming on the market over the past thirty days, while the green area measures the average number of homes leaving the market over the past thirty days. The resulting yellow area measures the thirty day average market growth. Note the spikes that occurred in each of the past three years, and how it currently does not exist in 2011. Where are the homes that we know are out there?
Sell A Home In 2011
If you want to sell a home in 2011, it is time to put it on the market for sale. Do not take this tasking lightly, as roughly 60% of the homes listed for sale in Tallahassee last year FAILED TO SELL! That’s right, the owner decided to sell the home, listed with a real estate agent, had the home marketed for 6 long months, but no sale ever resulted.
If you want to avoid the failure found by the majority of “wanna be” home sellers last year, make sure you review our primer on a Progressive Property Marketing Plan so that you know what to demand from your real estate brokerage company.
If you enjoyed this article, you'll love our Weekly Special (it's free).
Email Address:
This site runs on the Thesis WordPress Theme
If you are someone who does not understand a lot of PHP, HTML, or CSS, Thesis will give you a ton of functionality without having to alter any code. For the advanced, Thesis has incredible customization possibilities via extensive hooks and filters. And with so many design options, you can use the template over and over and never have it look like the same site.
If you are more familiar with how websites work, you can use the fantastic Thesis Users Guide and world-class support forums to make more professional customizations than you ever thought possible. The theme is not only highly customizable, but it allows me to build sites with a much more targeted focus on monetization than ever before. You can find out more about Thesis below:
{ 2 comments… read them below or add one }
I’m sorry but I’m afraid I missed something … You said,
“If you want to sell a home in 2011, it is time to put it on the market for sale. Do not take this tasking lightly, as roughly 60% of the homes listed for sale in Tallahassee last year FAILED TO SELL!”
So, why would I sell my home now when there is a definite surplus of homes from last year? As you mentioned, 60% failed to sell. Won’t that just decrease the chances of my home getting sold?
Nice “pick up.” I should have said “if you HAVE TO sell a home…”
Some people do not have the luxury of waiting 5 or more years. If they do, they should wait. But if the MUST sell this year, then my advice stands as above.
Thanks for the comment.