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Oh how I’ve longed to write this article. We have been tracking the daily movements in the Tallahassee real estate market for well over 2 years now, and reporting our findings at The Market Bulletin twice per week since March of 2008. Early on, we discovered that we could track the trend of daily buyer [...]
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Do you ever sneak over to The Market Bulletin to check out the current state of the Tallahassee Housing Market? A lot of people do, as we get many of our questions at CENTURY 21 First Realty that are based upon the information that is posted there twice a week.
This is a simple, one-page, real [...]
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7 graphs of the Tallahassee housing market. It is easier to get a feel of the Tallahassee real estate market when information is put into a graphical format. This quarterly report for home sales in Tallahassee is easy to see and understand.
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After reading The State of the Nation’s Housing 2009 from the Joint Center for Housing Studies of Harvard University, it became clear to me that much of the rest of the country is already seeing some signs of a housing market turn. More importantly, it made me fully aware of the fact that many learned people are seeing reasons why it should and will be occurring.
But how do you predict the turn of the housing market in Tallahassee? There are so many factors involved that you cannot simply point to any one factor, so I thought I’d summarize why I think I know when the turn will begin.
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As we have discussed often in the past, supply and demand will rule every and any market over the long haul. Currently, there is a glut of homes for sale in Tallahassee, but the gross number of homes for sale has been falling for nearly a year. You can monitor the movement in the Tallahassee home supply at The Market Bulletin, where home inventory records are updated twice per week.
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Real estate trends do not change overnight, so we should be able to see them coming. If we know what part of the cycle that we currently are working through, then we should know what the next change will look like.
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Right now, our graph shows us that we currently have 954 fewer homes on the market than we did one year ago. That is GOOD NEWS for the Tallahassee real estate market. Reduction of the glut of inventory is very important in getting this market back on stable ground.
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As I was assembling all of the charts, graphs and analysis of the Tallahassee housing market this past weekend, I had a very strong suspicion that I wasn’t going to find good news. I had already performed a preliminary analysis by downloading January sales from the Tallahassee Board of REALTORs Multiple Listing Service (MLS), and [...]
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