Key Housing Trends Tell The Story

by Joe Manausa on March 3, 2009

If you are truly interested in keeping tabs on your local housing market, there are some key trends I would recommend that you add to your daily observances. By viewing these on a regular basis, you’ll know what is happening before anybody else.

tallahassee-real-estate-inventory-other-trends-report-3-2-09

While the graph above is a one-year trend (365 day average) report for the Tallahassee real estate market, the same information can be found for most other markets that are tracked by a local Multiple Listing System (MLS). Here is a summary of what it shows:

  • Back On Market – These are homes that were under contract but have come back onto the market for sale.
  • Failed To Sell – These are homes that came off the market without selling. Note the current trend is 75% of all homes listed for sale are failing!
  • Sold – This number has been dropping for quite some time, but appears to have leveled off at 35% (yes 75+35>100%….more homes leaving the market than coming on the market). Not great odds if you need to sell a home in Tallahassee.
  • Inventory Change – The good news in this chart is that home supply is down nearly 800 homes in Tallahassee since this time last year. We won’t see a turn until inventory levels reach a balance between supply and demand.

For more charts, graphs and analysis of the Tallahassee real estate market, please visit The Market Bulletin on the Tallahassee Real Estate Web Site.

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