Year To Date Home Sales Best Since 2007
Year to date home sales through September are the best on record since 2007.
In order to generate this report, we look to all single family detached home sales, condominium sales, and townhouse sales from January through September of each year.
Our housing report covers the past 22 years, from 1991 through 2013, and it contains a pleasant surprise beyond what the headline promises.
Year To Date Home Sales Through September 2013
[sociallocker id="48093"]Our real estate graph below shows a stacked report of homes sold from January through September of each year. Condominium and townhouse sales are shown in pink, while single family detached home sales are shown in crimson.
The growth in year to date home sales from last year to this year is a whopping 31.4%. Needless to say, this is very good news for the Tallahassee real estate market and it's the type of growth in demand that we have been hoping for since the decline began back in 2006.
But there is something special about this year to date home sales report that might not reach out and grab your attention right away, but I think it is worth mentioning.
A 31% growth in home sales is great news, but our market is still performing at very low levels. In fact, until this report, we were showing closed home sales at figures last reported in the 1980s! Think about it ... Leon County has a significantly higher population than it had 30 years ago, so shouldn't we expect home sales to be more robust than they were when Miami Vice owned the airways?
But take a look at the far left of the report.
Our year to date closings have surpassed those reported in 1991, and I think that is significant.
Year To Date Home Sales Of The Future
I fully expect demand to continue to increase in Tallahassee for the next several years.
So long as interest rates stay low and banks continue to allow short sales to be sold, this report (a year from now) could very well compete with the levels reported in 2007.
If you would like to know what the year to date home sales report means for your specific home's value, just drop me a note and we can schedule a time to evaluate your home and give you the feedback that you need.[/sociallocker]