Search Listings

Opinion Poll: Where Have The Buyers Gone In Tallahassee?

While doing the research necessary for our monthly supply and demand report, I found a continuing trend that we first began reporting in February. This is not a good trend.

So here we are four months later and the trend of declining homebuyer activity is firmly rooted in the Tallahassee real estate market, and I'm not entirely sure what is going on. You will see it in this month's infographic (available for download), and you'll see it in the growing supply of homes for sale in Tallahassee.

This trend is so disturbing that I have included an opinion poll to see if some of our readers can tell us what they think is causing the rapid decline in new real estate contracts.

Tallahassee Real Estate Market Activity

The following real estate graph shows two important trends, and they are moving in a very odd and disturbing manner. Real Estate Market Tallahassee Florida

The purple line (new contracts) shows a general decline in buyer activity that started at the beginning of 2013, while the green line (closed home sales) shows a steady incline over that same time period, except it appears to be changing as of two weeks ago.

What this means is that for the past 18 months, fewer buyers were writing contracts, yet more buyers were closing on home purchases. Those should be conflicting trends.

Were it not for the downtown in closings in May, we would be doubly purplexed.

  1. Why are buyers writing few contracts when we know the market is still trading well below its historically normal rate, and
  2. How is it possible for "more closings" to come from "fewer contracts?"

The latter appears to be related to the decline of short sales in Tallahassee, which typically produce several contracts for the eventual closing. But the former is a mystery that we are going to put to our readers.

[poll id="9"]

Thank you for taking the poll, please check back from time to time to see what other readers have to say.

Tallahassee Real Estate Infographic May 2014

Tallahassee Real Estate Infographic June 2014We have prepared our monthly infographic that provides a picture of the Tallahassee real estate market. Click on the image to the right to download a .pdf version that is large enough to enjoy.

The number of homes sold in May was down 19% compared to May 2013, which is something that we have been warning sellers about when contracts first began to decline in February. Expect to see this declining trend continue, making it tougher for sellers to get their homes sold.

The median price of a home sold in Tallahassee in May was 12% higher than last year, and the median home value was up 2% over that same time. The discrepancy between price and value can likely be attributed to falling interest rates which have armed buyers will more spending money.

New listings and new failures rose, while new contracts and new closings declined in May. These are not minor spikes, we continue to see contracts down more than 60% since a year ago.

If you are thinking about selling a home in Tallahassee, make sure you are armed with the very best marketing plan possible, or you will be leaving money on the table (or not selling at all).

If you want to know more about selling a home in today's difficult market, just drop me a note and we can schedule a time to help you get the money you need and moved within your desired time frame.

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!

Please Like Us And Share On Facebook - Help us grow our brand!

Also like us on Facebook at https://www.facebook.com/joemanausarealestate/

Your Local Expert In Tallahassee

Are you ready to go see a home in this oft-overlooked, amazing neighborhood? Do you have further questions on the Tallahassee real estate market? If so, 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.

The digital marketing guide for small businessesHave 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 it on Amazon (UK) for immediate delivery, or you can go to Amazon (US) to reserve a copy at a pre-US published rate.

Real Estate Agent reveals in Tallahassee, Florida

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.

Post a Comment

Blog Navigation

Posts By Category

All Categories Advice: Real Estate (496) Blogging Real Estate (187) Distressed Property (32) Foreclosures (4) Glossary of Real Estate Terms (33) Government and Real Estate (31) Homes For Sale (159) Housing Market Conditions (1269) Housing Report (54) Lis Pendens (4) Main (1018) Mortgage / Finance (74) New Construction (19) Off Topic (87) Our Listings (3) Our Sales (7) Real Estate Market Snapshot (26) Real Estate Opinion (3) REALTOR News (11) Tallahassee (90) Tallahassee Neighborhoods (643) Team Member (1) Uncategorized (50)

Posts By Month

Blog Roll

Luxury Homes For Sale New Construction Homes For Sale Homes For Sale With Swimming Pools Homes For Sale On Acreage Homes For Sale In Golden Eagle Plantation Homes For Sale In Killearn Lakes Plantation Homes For Sale In Killearn Estates Homes For Sale In Southwood Homes For Sale In Killearn Acres Homes For Sale In Summerbrooke Homes For Sale In Piney Z Homes For Sale In Bull Run Homes For Sale In Betton Homes For Sale In The Ox Bottom Area

Tag Cloud

Grab Our RSS Feed

Tallahassee Home Searches

Contact Us

Joe Manausa Real Estate
1934 Dellwood Drive
Tallahassee, FL 32303
(850) 366-8917