Closed Home Sales Trend April 3, 2010

By tracking closings in the Tallahassee MLS on a daily basis, we can normally spot trends just as they are beginning to happen.

When we look at the graph above, we can see a recent spike in the number of daily closed home sales in Leon County. There is much speculation that the Homebuyer Tax Credit is helping boost sales, and we will have to see what happens when that opportunity goes away (buyers must be under contract no later than April 30, 2010 and closed no later than June 30, 2010 in order to qualify for the credit).

What is the First-Time Homebuyer Tax Credit?

This tax credit is a dollar-for-dollar reduction in  what the taxpayer owes in income taxes. To qualify for the tax credit, a home purchase must occur on or after January 1, 2009 and before June 30, 2010 and the taxpayer must meet the annual income requirements. For the purposes of tax credit, the purchase date is the date when closing occurs, but the contract date cannot be later than April 30, 2010.

The graph below shows the same information, over a longer period of time. It puts the recovery into perspective, as we still have a ways to go to get back to the “pre-boom” levels of home sales.

More About Tallahassee Real Estate

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 real estate:

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