Weekly Special | October 26, 2015

Home Sales Up 23% So Far In 2015

The month of October is far from over, yet even if no more home sales were closed, we could be excited about the progress of the housing market recovery in Tallahassee.

The graph above was assembled from information from both the Tallahassee MLS (realtor database) as well as from information compiled from the Leon County Property Appraiser’s office, so it is a very thorough list of home sales in our area.

The blue bars measure the total number of closed home sales each year through October, so that means all years prior are complete and we still likely have a 100 or so more to report for October of this year.

As it stands now, this is the best year on record since 2007, and the number of closed home sales is consistent with what we saw in the market 15 years ago.

That means (fortunately) there is still a lot of up-side remaining in our housing market recovery.

Unlike many parts of the country and the rest of the State of Florida where home sales are reaching all-time highs, Tallahassee remains about 40% below the number of home sales reported at the peak of the market in 2005.

Right now, there have been as many closed home sales in Tallahassee as there were through all 12 months last year.

Currently, our best estimate is that we’ll finish the year roughly 22% to 25% ahead of the production from 2014.

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