June Housing Report For Tallahassee

The new numbers are in for home sales in the Tallahassee real estate market, and unfortunately there is little good news to be gleened from the reports. Average prices are still dropping, unit sales are still dropping, and year-over-year home sales just posted the 36th consecutive month of declining home sales.

One of the most important trends that we can watch is the year-over-year home sales report. This real estate graph is created by comparing each new month with its corresponding month in the previous year. So June of 2009 was compared to June 2008, June 2008 compared to June 2007, etc.

If you look at the following graph, you will see that we just posted 36 straight months of declines. Statistically, this is unthinkable. Nowhere else on this graph can you see a run, whether positive or negative, exceed 9 consecutive months.

36 Consecutive Months of Home Sales Declines In Tallahassee

Year over Year Home Sales In Tallahassee

If there is one positive result above that we can claim for June, it is the fact that Tallahassee home sales in June of 2009 were "only" down 13% compared to June of 2008. With recent declines in the high twenties and mid thirties, this makes me think we might be on pace to find the bottom of the market by the end of November of this year (see previous reports on the bottom of the Tallahassee housing market).

Average Real Estate Prices Continue To Fall In Tallahassee

Another real estate graph pulled from the recent Tallahassee housing report shows that our average real estate prices continue to fall.

Average Real Estate Prices In Tallahassee

The red line shows single family homes have trended below $200K for the first time since 2005, townhomes in green have dropped below $150K for the first time since 2006. The yellow line shows the continued declining trend of lot prices back to their mid $70K levels from 2005, while mobile home prices are fairly stable near their highs from 2008, coming in near the mid $50Ks.

We will cover the June housing report in great detail in the upcoming Tallahassee Real Estate Newsletter. If you have not subscribed, it's easy to do and takes about 15 seconds. You can just enter your email address in the form in the sidebar to the right.


Subscribe in a reader Subscribe by email

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. Additionally, if you would like to respond (leave a comment) to this article, you will need to “click through” to the blog site to post your feedback.

Keep checking out the Tallahassee Real Estate Blog every day for updates on real estate in Tallahassee Florida.
If you like this Article then please subscribe to my blog through a full RSS feed, or you can Subscribe by Email.You will be able to stay informed about the happenings in the Tallahassee Real Estate Market.
Joe Manausa is a real estate blogger, 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.
NewsletterArchives MarketReportBlog
 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/

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.

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 The Business Of Getting Business by clicking on any of the trusted retailers below.

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.


#1 By brad at 7/11/2017 3:44 AM

I have a quick question for you. Before I start I just want to say I've never sold a house so I don't really know the process but here is my question.

Who is responsible for setting the ultimate price of a house?

Do realtors ever turn down sellers because they are not asking a reasonable price or do realtors take any listing they can get?

I'm asking this because I see many houses listed out there that are priced so high compared to comps I doubt anyone has ever asked to see them. It seems like a waste of the realtors time and money advertising the home for sale.

Thanks for taking the time to answer this. Maybe I'll see if I can send some examples a little later.

#2 By Joe Manausa at 7/11/2017 3:44 AM

Thanks Brad, that's a great question. The short answer is that ultimately, the homeowner sets the price. The REALTOR advises them about the market value, and the seller then sets the asking price.

There are some REALTORs who will take a listing at any price. Some take over-priced listings because they are ignorant of market activity. Others do it with the intent to get the homeowner to lower the price once the home is rejected by the market.

Personally, I think it is unprofessional and poor service to put a home on the market at a price that will produce no sale. It usually ends up costing the homeowner more than pricing it correctly right away.

Post a Comment

(850) 378-5727