Understanding Turnover Rate In Your Neighborhood
One statistic that a good listing agent in Tallahassee should discuss with you when you are considering selling a home is the turnover rate in your neighborhood.
The turnover rate is defined as the number of homes selling each year divided by the total number of homes that exist in the neighborhood.
If your Tallahassee neighborhood has 250 homes, and on average 25 sell each year, you can say that your neighborhood has a turnover rate of 10%. We can also measure how often somebody chooses to sell a home by taking the inverse of this turnover rate. So in the previous example (1/10%), the average length of homeownership would be 10 years.
By tracking the trend of turnover rates in an area, you can find out a lot about the stability of a neighborhood in Tallahassee. You can also find out whether or not you should expect more homes to come on the market (to compete with yours). The following real estate graph is an example of the turnover rate measured in Weems Plantation in Tallahassee, Florida.
Please Do Us A Small Favor
We work very hard to produce daily content for our long-time readers and first-time visitors. We provide this information for free, hoping to earn your respect and trust and the right to one-day help you when selling or buying a home. Can we get your help spreading the word about our blog?
If you like the content, would you please like it or share it using the Facebook button at the beginning of the post? This simple action will be greatly appreciated! THANK YOU!
Also like us on Facebook at https://www.facebook.com/joemanausarealestate/
Neighborhood Turnover Rate Example
In the real estate graph above, the blue line shows the trend of the turnover rate in Weems Plantation for the past 8 years. The vertical red bars are the trend of the average price. It appears that when the prices soared in Weems, everybody that could sell their homes, with a turnover rate exceeding 20%.
Video Answers To Your Questions
Video Housing Market Reports
Your Local Expert In Tallahassee
When moving to, in, or from Tallahassee, you will fare better if you work with a local expert. We are here to help. If you have further questions on the Tallahassee real estate market, you can leave a comment below, give us a call at (850) 366-8917, or drop us a note and we'll give you the local information needed to ensure a successful, smooth transaction.
As a local born and raised in Tallahassee with a focus on customer service, I promise you'll find great success when working with Joe Manausa Real Estate, just as have our past customers. You can read thousands of their reviews reported on Google, Facebook and Zillow right here: Real Estate Agent Reviews Tallahassee.
Have you heard about my new book "The Business of Getting Business?" It's a comprehensive guide for small businesses to help them make the move to digital. For those of us who want to survive and thrive in a world where large corporations are taking over, it is a must-read. It's also the perfect guide for how to sell a home in the digital age. You can find The Business Of Getting Business by clicking on any of the trusted retailers below.
Think all REALTORS are alike?
Read what people are saying about working with Joe Manausa Real Estate! You can see thousands of real customer reviews reported on Google, Facebook and Zillow at this link: CLICK HERE FOR REAL ESTATE AGENT REVIEWS.