Real Estate Market Report - Simple Graphs

Every so often, I like to take a detailed look at residential sales in the Tallahassee real estate market. By downloading all of the sales from the Tallahassee Board of Realtors Multiple Listing Service (MLS), I am able to graph some trends that might not be so readily evident from the general market reports that are published without scrutiny from the Florida Association of Realtors.


For the purpose of this study, we will define residential sales in the Tallahassee real estate market as the sales of condominiums and townhouses (CT) plus the sales of single-family detached homes (DET) in Leon County, Florida. These abbreviations are used in the following graphs to differentiate the unit types.

The first graph depicts units sales (quantity) for the months of January through April for each year. We can see that the market peaked in 2006 and has been settling back since. Based upon these units sales figures, we can see that the first four months of sales in the Tallahassee real estate market were down 54% from the height of the market.



The next graph records the movement of average prices by property type in the Tallahassee real estate market. As we would expect, prices continued to move higher beyond the height of unit sales (lag in market awareness) and peaked in 2007, and since we have only seen about a 1% drop in the average price of residential properties since that time. It is this information that I continue to see reported as "proof" that our local market is doing very well.




The next graph shows the average size of homes sold during this period in the Tallahassee real estate market. Unlike the previous two graphs, this one shows that the average size home has actually started to increase since the height of the market in 2006. I think this reflects the buying power of the buyers in the Tallahassee real estate market is stable or has grown (interest rates are low, employment is strong) and so even while prices drop (see next chart), the average price stays the same because buyers are buying bigger homes.
The final graph, one that I do not see reported elsewhere, shows the relative price of homes in the Tallahassee real estate market is actually dropping. By looking across the Tallahassee MLS and focusing on price per foot, we can see that this figure is dropping since the height of the market. The average price per foot is down a little over 4%, and I would view this as the real pricing change in the Tallahassee real estate market since the height of home prices last year.


As a reminder for those who subscribe to the Tallahassee Real Estate Blog by email, some embedded pictures and videos might not be appearing in your email and you might need to click the title header to go to your browser where all will be visible.

Keep checking out the Tallahassee Real Estate Blog every day for updates that include charts, graphs, and analysis of the Tallahassee real estate market.

If you like this Article then please subscribe to my blog through a full RSS feed. You will be able to stay informed about the happenings in the Tallahassee Real Estate Market. You can also subscribe to this blog and have it delivered by Email.

Joe Manausa is a real estate investor and the Broker and Co-Owner of Joe Manausa Real Estate. He can be reached via e-mail through the Tallahassee Real Estate Website or catch his latest writings on the Tallahassee Florida Real Estate Blog , or by calling (850) 386-2001.

 

View Joe Manausa's profile on LinkedIn

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/

Joe Wrote The Book On How To Sell A Home Today

Joe Manausa wrote the book on how to sell a home in the digital age, you can find it hereWARNING: The Internet & digital marketing systems have changed the way sellers need to market a home for sale. It's not about getting a home sold anymore, it's about getting a home sold and netting the most money from the sale.

To do this, a seller needs to hit the digital market hard in a coordinated effort that alerts ready-buyers (all at the same time) to ensure buyers understand they are competing for the right to buy the home.

While it only takes ONE buyer to sell a home, it takes MULTIPLE BUYERS for the seller to bid the property up to its highest value in today's market. You see our full explanation about how to sell a house here, or you can buy the book and really get into the nuts and bolts of selling a home in the digital age.

Get the book that explains it all, in a manner that is understanding to all, even technology neophytes. It's available on Amazon, a trusted source for consumers.

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.

Discussion

#1 By Kathy Koops @ theCincyBlog at 7/11/2017 3:44 AM

Great graphs- unfortunately our MLS does not include square footage.

Post a Comment

(850) 378-5727