Tallahassee Housing Stats
The Market Bulletin
Current Supply and Demand For Tallahassee Housing Can be downloaded by clicking the image to the right.
The following graphs show the current "state of the market" Tallahassee Real Estate Inventory Report, and are updated two to three times per week.
Tallahassee Housing Inventory: 30 Day Trend Report
The red area represents homes coming on the market (new listings & re-listed homes), the green area represents those homes leaving the market (sold, expired, canceled and withdrawn listings), while the yellow area shows the total change (above the line means that inventory is growing, below the line means that inventory is shrinking).
The following graphs show the current "state of the market" Tallahassee Real Estate Inventory Report, and are updated two to three times per week.
Tallahassee Home Buyer Activity
The following real estate graph shows the change in buyer activity each day. Each point on the graph represents the daily average number of homes sold in Tallahassee for the past 365 days. We are hoping to see this "bottom out" and begin to rise real soon!
Tallahassee Housing Inventory: 30 Day Trend Report
The short-term trend has made a move recently! While the short term trend continues to show an increase in inventory due to what I still suspect is the seasonal affect of the new year (when many people put their homes on the market after waiting for the holidays to pass), growth is almost zero now. Time will tell and we'll keep our eye on the short-term trend.
The red area represents homes coming on the market (new listings & re-listed homes), the green area represents those homes leaving the market (sold, expired, canceled and withdrawn listings), while the yellow area shows the total change (above the line means that inventory is growing, below the line means that inventory is shrinking).
The next graph shows the trends for homes that have come back on the market after failing to sell (BOM), homes that failed to sell (Fail), and for homes that have sold in the past 365 days (Sold). It is rather interesting that we are seeing the failures rise and the sales falling, which makes it very important that only "serious sellers" enter this market.
The failures is a measure of the number of homes that failed to sell over the past year compared to the number of homes that were newly listed for sale over the same period of time. Based upon the current trend, we have seen failures explode beyond 80%. This means that we are consuming inventory, but more through failures than through sales. We are now able to observe these trends on a 1-year basis , allowing the seasonal distortion to be removed (meaning a whole year's data means that there are no spikes due to time of the year changes). The orange trend line shows that inventory is down over 1,000 homes since this time last year.
The failures is a measure of the number of homes that failed to sell over the past year compared to the number of homes that were newly listed for sale over the same period of time. Based upon the current trend, we have seen failures explode beyond 80%. This means that we are consuming inventory, but more through failures than through sales. We are now able to observe these trends on a 1-year basis , allowing the seasonal distortion to be removed (meaning a whole year's data means that there are no spikes due to time of the year changes). The orange trend line shows that inventory is down over 1,000 homes since this time last year.
Tallahassee Home Inventory Trends
The next chart shows that the 1 year trend is showing inventory reduction, while most of the shorter trends are now showing a lower reduction of homes in the Tallahassee real estate market. This means that our inventory reduction rate will be slowing on the one year trend. We need to keep our eye on the short term inventory change trends as they will give us an early warning on what the longer-term trends will be doing.
Tallahassee Real Estate Inventory Trend Summary
One Year Trend In Tallahassee Housing Market Inventories
The real estate graph that we have been long anticipating is starting to populate with data. What we are seeing here is a slow decline in the number of homes listed each day (down by more than 2 homes per day, on average, since mid December). Simultaneously, we're seeing the same number of failures per day (15) and a decline in the sales and pendings. Overall, more inventory is leaving the market than is coming on the market.
Tallahassee Home Sellers Find Difficulty Selling Their Homes
The next real estate graph is what we refer to as the "Sales Success Graph." We track the number of homes that sell and compare it to the number of new homes listed during the same period of time. The short-term trend is really looking ugly, with a sales success level starting to rebound from a depth of 20%. We observe the short-term trend crossing over all other trend lines, meaning we that we are doing better now than we have in the recent past.
While the specific value is not necessarily reflective of the true rate of success Tallahassee home sellers are finding, the direction of the trend is a fair assessment of whether or not the home sellers are finding more or less success as the market continues forward. The blue line is the 1 Year Trend, meaning that no seasonality exists in its measurement. We can accurately say that sellers are having a harder time selling their home today than they were 1 year ago. This line is currently trending at 36%, meaning over the past year, only 36% of the homes listed actually sold in the Tallahassee real estate market.
