Weekly Special | August 7, 2016

New Sellers Entering Market Finding Success

The number of homes for sale in Tallahassee continues to decline, all the while buyer activity has been returning to normal, higher levels.

This is good news for sellers who have been waiting for values to return. The “fresh” sellers, new to the market, are enjoying their highest success rate in more than ten years.

The graph above examines existing home sales (meaning no new construction) to determine the success rate for new sellers just entering the market.

We have excluded all sellers, whether successful or not, who were previously listed for sale with another real estate company.

The orange bars measure sellers who successfully sold their home and left the market (closed) each month, while the blue bars show those that failed and left the market (and both are recorded on the left vertical axis).

The red line measures the monthly success rate while the red dotted line shows the one-year trend of the home sellers’ success rate (recorded on the right vertical axis).

93% of sellers who left the market for the first time in July 2016 did so successfully (compared to just 29% in September 2014).

Measuring the success rate of new sellers is a good way for people considering a sale of their home to anticipate how well they will be received. Right now, it looks good for new sellers.

The original one-page Weekly Special PDF is still available.