Recently, a reader asked "what is a normal amount of home sales in Tallahassee."
He was curious about how today's abnormal conditions compares to what we are used to seeing in the housing market.
New Listings In Tallahassee
Here are the newest listings of homes for sale in Tallahassee. (FYI, you can always check the newest listings of homes for sale right here, we update it 96 times per day).
When it comes to figuring out what buyers are choosing in today's Tallahassee real estate market, a study of the median home in Tallahassee is a good way to evaluate behaviors and trends.
For example, are the homes getting bigger or smaller? More expensive or less expensive? And what is the impact on real estate appreciation.
The median home in Tallahassee is simply the "middle" home when looking at home sales sorted by the specific trait for which we want to observe.
The median home price is the price of the middle home in the list of homes sorted by price. The median home value is the value (price per square foot) of the middle home in the list of homes sorted by value. Etc. Etc. Etc.
This report shows the 25 year history of the median home in Tallahassee.
Median Home Price In Tallahassee
One quadrant of the Tallahassee real estate market is recovering much faster than the rest. Can you guess which one?
Today's housing report shows year to date home sales after dividing Leon County into its NE, NW, SE and SW quadrants, and three of the four appear to be recovering at the same rate, while one is almost a full year ahead of the rest.
For the purpose of determining recovery rate, we are only addressing the number of homes selling each year. A future report will examine appreciation in each of the four quadrants in Tallahassee.
Home Sales By Quadrant
The following real estate graph shows the number of homes sold by quadrant in Leon County. The blue line measures home sales in the Northeast quadrant, the orange line measures home sales in...
Every month we produced a real estate supply and demand report for the purpose of calculating the changes in the relative supply of homes for sale in Tallahassee.
This report contains that information, along with a free downloadable .pdf form showing the months of supply of homes in Tallahassee sorted by area and price range.
If you are currently in the market to sell a home in Tallahassee or buy a home in Tallahassee, this one-page reference is absolutely critical in determining the liquidity (competitiveness) of your targeted price range.
Use the information in this report to help yourself to the best deal possible in Tallahassee.
Supply And Demand For Homes In Tallahassee
One major change in the Tallahassee housing market that has resulted from the housing bubble and subsequent crash is the reduction in the real estate turnover rate.
The turnover rate is a simple concept that is not so simple to measure, and I have not heard local real estate agents use this important measurement when advising home buyers and home sellers during real estate transactions. When we refer to the real estate turnover rate, we simply mean the percentage of homes (in a particular area or neighborhood) that sell every year.
For the purpose of this article, I will contrast two neighborhoods in the Tallahassee real estate market and show the impact the housing market crash has had on the length of time people are owning their homes.
How The Real Estate Turnover Rate Is Used
First of all, have you ever...
We have compiled the data from the first half of 2015 in order to produce this report on the median home sold in Tallahassee.
As a reminder, the median is one way to calculate the "average" of a group. Normally, when we see the term "average" used, it refers to the "mean" of a group of data, which is just the sum of all numbers divided by the number of numbers in the group. But the "median" is the "middle" value when all the data is sorted in order. Both tell us something about the market, but when we have ample data, the median value is less prone to skewing than is the result of calculation of the mean.
OK, here's what we've done. We sorted all the homes in the Tallahassee MLS that have sold thus far in 2015, and have plucked the one in the middle out so that we understand where this middle of the market is, and how it has moved (trended)...
The number of homes sold in Tallahassee through May is much better than what we have seen in recent years, but still far lower than the level Tallahassee would record were it not in a real estate market recovery stage.
Low mortgage interest rates continues to bring new buyers to the market, but many existing homeowners who would like to sell and buy still feel trapped in their homes as current values remain much lower than the levels seen during the peak of the housing market from 2004 through 2006.
Our report covers historic home sales in order to create perspective for the current level of activity in the Tallahassee real estate market.
Year To Date Home Sales
The number of homes sold through May is at the highest level since 2007, and is consistent with all but the final two years of the 1990s. The graph below shows the number...
Are you curious about the Tallahassee real estate market's various zip codes?
We often see people using our property search tool's zip code quick links (like this one featuring homes for sale in the 32312 zip code). So our belief is if people want to search by the zip codes in Tallahassee, they probably would also like more housing market information for each of these areas as well.
Today, we will take a look at the most active zip codes in the Tallahassee housing market by reviewing average home prices, average home values, and the percentage of distressed home sales occurring in each zip code.
The Most Active Zip Codes In Tallahassee
The following list shows the most active zip codes for home sales in Tallahassee, and each one is linked...
The primary purpose of this blog is to communicate information about the market of homes for sale in Tallahassee, FL.
Of course, we also provide a lot of information, stories, anecdotes, and advice on all aspects of buying or selling a home, but the primary focus is on the homes that comprise the Tallahassee real estate market.
This means that we produce a regular stream of information about the most popular neighborhoods and subdivisions in Florida's Capital City, and we also provide the most insightful analysis of what this means for people who are looking to sell a home or buy a home in the Tallahassee real estate market.
During the course of generating and reviewing all of this data, we often find discover an interesting and/or enlightening trend that is occurring that we feel compelled to share. Today's...
Lakefront homes in Tallahassee are having their best year in a long, long time.
It was less than two years ago when we reported that lakefront homes are cheaper than ever, but oh how quickly times change. When the real estate market hit bottom in 2012, we saw the value of land become almost inconsequential, with buyers valuing the homes far more than the homesite.
Waterfront homes have always enjoyed a "premium" over their land viewing counterparts, but the range of this premium fluctuates over time. As we pointed out in our previous article in 2013, that premium had fallen to an all-time low of just 14% (meaning buyers were paying 14% more for homes on the water than they were for homes not on the water).
But things have changed in 2015. I guess buyers have been paying attention.