Home sellers are finding more success today than they have for the past two years. By tracking the total number of home sales in Tallahassee, and dividing them by the total number of listings during the same period of time, we are able to track a measurement that we refer to as the “Home Sales Success Rate.” Currently, the 365 day trend of the home sales success rate has hit 47%, up from a low of 35% found roughly one year ago. In the real estate graph below, the blue field shows the one year trend measurement, while the red, green and purple lines show the shorter-term trends.
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Home Sellers More Successful March 9, 2010
Home sellers are finding more success today than they have for the past two years. By tracking the total number of home sales in Tallahassee, and dividing them by the total number of listings during the same period of time, we are able to track a measurement that we refer to as the “Home Sales Success Rate.” Currently, the 365 day trend of the home sales success rate has hit 47%, up from a low of 35% found roughly one year ago. In the real estate graph below, the blue field shows the one year trend measurement, while the red, green and purple lines show the shorter-term trends.
Keep Reading...Wakulla County Home Sales Report March 8, 2010
Wakulla County home sales are down 79% since the peak of the market in March 2006. Simultaneously, foreclosures are “through the roof” compared to historical averages. In the real estate graph below, the red area shows that the number of foreclosures (which historically averages about 2 per month) has jumped up quite a bit in the past year and a half.
Keep Reading...Pending Home Sales Rising March 7, 2010
Pending home sales are on the rise in the Tallahassee real estate market. The 365 day trend of pending home sales is monitored daily by the best real estate agents in the Tallahassee housing market as a barometer of current and future market movements.
In the real estate graph below, we can see both the fall [...]
Home Sales Failure Trend Still Falling March 6, 2010
An important trend that we monitor at the Tallahassee Real Estate Blog is the percentage of homes for sale that “fail to sell.” This would include all home listings that expired, canceled, or withdrew from the market without a successful home sale. The movement of this trend gives us an idea of whether it is getting easier or harder to sell a home in Tallahassee.
Keep Reading...Closed Home Sales Report March 5, 2010
Closed home sales continue to rise in the Tallahassee real estate market, continuing belief that the market bottom was reached on August 18, 2009. Of course, just because unit sales are rising now does not mean that property prices are rising. In fact, the opposite is true. Home prices continue to decline, thus enticing new [...]
Keep Reading...Condo and Townhouse Construction Trends March 4, 2010
We are finally starting to see some volatility in the housing market when looking at condominiums and townhouse construction. The average price of a newly built condo and townhouse has dropped over $100,000, but the monthly unit sales have doubled. I believe the trend in prices is due to a slow-down of condo sales in downtown Tallahassee, while the increase in sales has been heavily influenced by the home buyer tax credit.
Keep Reading...Distressed Property By Type March 3, 2010
While we do have a site dedicated to distressed property information for Tallahassee, we also like to track them in our market reports area. Rather than focus on the specific units, we look at the broader categories and how troubled property owners will impact the market.
Currently, of the 2,500 homes for sale in Tallahassee, over [...]
Housing Inventory Trends In Tallahassee March 2, 2010
Housing Inventory Trends in Tallahassee look mostly good when we observe the following real estate graph. The graph contains a 365 day average (meaning no effects from seasonality) for new listings, new failures (homes leaving the market by failing to sell), new pending home sales, and new closed home sales.
Keep Reading...Home Sales Failures In Tallahassee March 1, 2010
Home sales failures are not something that most homeowners consider when they are deciding whether or not to move. Who would have thought that somebody wouldn’t want your beautiful home? Well, the fact is that over 76% of the homes that were put into the pool of homes for sale in Tallahassee over the past 365 failed to see the home sell.
Keep Reading...Mobile Homes Report February 28, 2010
Tallahassee mobile homes have decreased in both price and unit sales, just like the rest of the housing market. I believe it is important to keep a vigilant eye on this entry level of the housing market, as tough economies and elevated land prices make mobile homes a viable housing solution for many people around the country.
Keep Reading...Home sellers are finding more success today than they have for the past two years. By tracking the total number of home sales in Tallahassee, and dividing them by the total number of listings during the same period of time, we are able to track a measurement that we refer to as the “Home Sales Success Rate.”
Currently, the 365 day trend of the home sales success rate has hit 47%, up from a low of 35% found roughly one year ago. In the real estate graph below, the blue field shows the one year trend measurement, while the red, green and purple lines show the shorter-term trends.
The short term trends in the home sales success rate are all falling, both an indication of seasonal moves in the housing market as well as a warning for the long-term trend to start to drop. One interpretation of this graph could be that serious home sellers who stage, price, and market their homes correctly right now have the best chance of selling their home that they have seen in over two years (and possibly the best chance they will have for years to come).
If you are trying to sell a home in Tallahassee, make sure you put your best effort forward now, or you risk of joining those who are on the “failed to sell” list.
Great Tallahassee Real Estate Resources
Do you want to know more about the Tallahassee real estate market? It is not as hard as you might think keeping up with the movements in the housing market, you just have to know where to look. The following are some of the best resources that you can find on Tallahassee real estate:
- Daily Real Estate Blog (A Technorati Top 100): Tallahassee Real Estate Blog
- Current Housing Reports: Housing Market Reports
- Map Based Property Search Tool: MLS Property Search
- Foreclosure Reports: Lis Pendens and Foreclosures
- List of Distressed Properties in the MLS: Distressed Properties
- REALTOR® news and updates: Successful REALTORS®
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