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At CENTURY 21 First Realty, we believe that if you track tons of information and record it on a daily basis, the market will speak to us through our Tallahassee housing charts and graphs. While no specific real estate graph can express succinctly the current state of the housing market, the totality of the market can be gleaned by viewing some key trend charts and reports.
REMINDER: The Tallahassee Real Estate Newsletter will publish and deliver the 30th edition on Monday of next week. We have just received the market data for the month of August, so plenty of new real estate graphs and charts will be featured in this edition.
Real Estate Graph Shows Year Over Year Home Sales Decline
Tallahassee home sales dropped 20% each month following the end of the Homebuyer Tax Credit, when compared to the same months from 2009. The real estate graph below shows how the positive year over year reports ended at the same time as the tax stimulus program ended, thus leaving this market with a lot of questions.
Real Estate Graph Shows Long Term Declines
One very analytical view of the Tallahassee housing market shows that the number of homes selling each month is declining, not just over the past few years, but for the long-term trend as well. The average number of homes selling each month for the past ten years (blue line in real estate graph below)Â has been falling for the past three years.
The key conclusion that I draw from both of these real estate graphs is that unit sales of homes is on a long-term decline. Even though the population in Tallahassee is larger than it was 10 years ago, fewer home sales are occurring. This includes the boom period of 2004 through 2006, so we have to be concerned that our ability to consume the excess supply of homes for sale in Tallahassee could take even longer than we have previously forecasted.
Using This Information To Sell A Home
Roughly 60% of homeowners who tried to sell their home last year failed! I find this statistic disturbing as it indicates how many people in Tallahassee appear to be trapped in their homes, and the trend is getting worse. By this time next year, we anticipate the failure rate for home sellers to approach 70%!
Yet some people are finding success in getting their homes sold, does it make you wonder how they do it? We have developed two very short videos that show traditional marketing methods versus new progressive marketing campaigns. If you plan on selling a home in Tallahassee in the coming years, they are worth the short amount of time to view and can be seen by clicking the image below.
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