Many Real Estate Trends Improving In Tallahassee
One of the most popular topics for which we receive comments revolves around questions regarding Tallahassee real estate trends.
We try to ensure that the majority of our blog posts serve to either deliver information on home sales in Tallahassee, or advice on how to better position yourself in the real estate market.
This post today serves to answer a reader's question from yesterday's Tallahassee Real Estate Newsletter, regarding current real estate trends.
Real Estate Trends Are Brighter
If you subscribe to the Tallahassee Real Estate Blog or Tallahassee Real Estate Newsletter, you already know that many of our reports are showing strengthening real estate trends in Tallahassee.
But one reader asked to see an old chart that we irregularly display that shows short term and long term real estate trends. It is used for the purpose of looking at the number of home sales in the past and then trying to project how we might see the current market change.
Real Estate Trends Chart
The following real estate trends chart shows the number of homes sold each month (yellow diamonds), and then three trend lines showing the one year, five year, and ten year moving average.
When we look at the real estate trends in the chart above, we see that the average number of homes sold each month over the last year (red line) is rising. In fact, it has crossed over the five year trend line (green line) which can be stated as "the average number of homes selling each month over the past year is more than the average number of homes selling each month over the past five years." Simply put, the past year has been better for sales than the previous four years.
But when we look at the ten year average (blue line), we still have a long way to go. The last time we saw home sales exceed the ten year average was in August 2007, nearly 6 years ago. The yellow diamonds in the chart show just how close to the market bottom we still remain.
Yes, many of the real estate trends are improving for Tallahassee, but the market is far from healed and we still have a long way to go.