Home Sales Success Rates Still Too Low April 2, 2010

One statistic that we have been maintaining at The Market Bulletin is a measurement that we refer to as the “Home Sales Success Rate.” Currently, the one-year trend is at a two-year high! By dividing the total number of closed sales by the total number of new listings, over a specific time period, we can show a trend that gives a hint at how many homes (as a percentage of the total) are actually selling. We are more curious about the direction of this trend as opposed to its absolute value because we know it does not track the history of homes being sold against their specific listings. The graph above shows:

• 1 Year Trend: 48% of homes are selling
• 9 Month Trend: 50% of homes are selling.
• 6 Month Trend: 47% of homes are selling.
• 3 Month Trend: 38% of homes are selling.

So, in simplified terms, we can say that over the past year, less than 48% of the homes that were listed actually sold. Lately we have seen some improvement in the one-year trend, but all the shorter term trends have been falling so we must keep an eye on their progress. With inventory levels starting to rise, this trend most likely will be turning down.

Tallahassee Real Estate Resources

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:

• Daily Real Estate Blog (A Technorati Top 100): Tallahassee Real Estate Blog
• Tallahassee Neighborhood Report: Tallahassee Subdivisions
• Current Housing Reports: Housing Market Reports
• Map Based Property Search Tool: MLS Property Search
• Foreclosure Reports: Lis Pendens and Foreclosures
• List of Distressed Properties in the MLS: Distressed Properties
• REALTOR® news and updates: Successful REALTORS®