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Year Over Year Home Sales Surge 16% Higher in February

Home sales exploded in February, beating last year by 16%.

The following graph compares the number of homes sold each month with the same month from the prior year. When the column is green, it shows the year over year growth, while red columns demonstrate a year over year decline.

Year over year home sales report for the Tallahassee real estate market, conducted by Joe Manausa Real Estate

For our readers who subscribe to our Weekly Market Update (see form below if you'd like the most-current market analysis delivered to your email inbox on Monday mornings), you probably are aware that market growth had slowed.

Well, GOOD NEWS, the market continues to recover.

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Since September of 2014 (41 months), there have only been 9 months of declines during the Tallahassee real estate market recovery. While we have not come close to hitting the highs that were reported in 2006, the progressive recovery has been well received.

The market moved 16.1% higher in February, which means it is up 8.9% overall for the first two months of 2018 when compared to January and February of 2017.

If you would like to know how the market recovery has impacted (specifically) the value of your home, please give us a call at (850) 366-8917 or drop us a note and we'll be in touch right away. If you think we cover more in-depth information about Tallahassee and its most popular neighborhoods than any other real estate website, please be sure to recommend us to your friends!

Discussion

#1 By George Fergusson at 3/28/2018 3:44 PM

This is an important question. My friend, 78, plans to sell his 40 year old home in Waverly Hills in the next year. He feels he can sell it as is, but I caution him that most homes sold in that neighborhood have been upgraded to show well on the internet sites. Would you advise upgrading or leave it to fate?

#2 By Joe Manausa at 3/28/2018 4:15 PM

Great question George. The short answer is 'it depends.' Too often, I see real estate agents recommend that homeowners do a lot of renovation/updates before they sell. I'd have to see the home and make recommendations based on what would actually create 'profit' for the seller. No need to spend $20K to get $10K more on the sale, right?

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