Weekly Special | November 26, 2017

2017 To End As Best In Past Eleven Years

When we count the number of home sales in Tallahassee this year, it looks as if we’ll see 2017 set an eleven year high.

While that is obviously good news for the progress of the housing market recovery, there is additional good news to be found in the graph above.

The information in the graph above is from all closed and recorded home sales through October of each year from 1991 through 2017.

Single family detached home sales are shown in red, while condominiums and townhouses collectively are shown in blue.

The fact that 2017 looks to finish as the best in the past 11 years is great, but even better is the fact that 2017 only ranks as the ninth best year of the past twenty seven.

This suggests that there is plenty of upside remaining in the Tallahassee real estate market recovery, especially when considering these two key points:

1. Population Growth: There are more people here than in the past, it is likely we’ll need more home sales.

2. The new Governor in 2019 is likely to add Tallahassee (State) jobs, which would also stimulate home sales.

Look for continual growth in the housing market, so long as inventory allows.

This issue went with a longer report on our blog: read the full blog post. The original one-page Weekly Special PDF is still available.