Daily Home Sales Bumping Along
Tallahassee traditionally sees about 10 closed sales per day, on average, posted in the MLS. Our graph below shows the one-year trend of closed home sales going back to 2002, and I have highlighted mid-March trends for the past four years.
Currently, closed sales in the MLS are fairly flat at just under 7 per day, and this is consistent with what we saw at this time during the previous two years.
In 2007, the trend was falling fast, but in mid-March our one-year average daily closed home sales were double what they are today. They were 50% higher than today in 2008, but again that trend was falling fast too.
The question that we all want answered (and only time can do it), is what will we see from the daily closed sales in the Tallahassee MLS going forward. Most likely, the next few months will show a down-trend as the anniversary of the Homebuyer Tax Credit hits at the end of June. The second half of the year brings the hope of a renewed recovery in home sales, as they slowed last year during that time.