What Homebuyers Want In Tallahassee January 31, 2010
You might wonder why we graph so many things here at the Tallahassee Housing Report. We often are asked why we do this, and the answer is simple. The more we graph, the more we "see." Sometimes, just graphing information teaches us the questions that we should be asking. It's not always the answers that we are seeking, rather sometimes it is the question.
As case in point is demonstrated in the real estate graph below. I was curious what it would look like to graph all the price ranges in Tallahassee as a percentage of the whole market, and this is what I was able to observe:
So, what do I see in this? I see that less than 1% of the market will buy a home for over $750,000, and roughly 3% will buy a home over $500,000. That means if I have a home to sell in one of those price ranges, I better understand that the competition is very stiff for the few buyers in these two price ranges.
I also see that roughly 75% of the market is looking for a home under $250,000, so if I have one of these, I know I'm in the heart of the current market.