Good News In The Tallahassee Housing Market
By Debbie Kirkland, Realtor CRS, SFR, SRES, Epro
The real estate market in Tallahassee is recharging! That is great news for our local economy, for small business owners, contractors, suppliers and service providers. Following what is happening throughout the State, the statistics provided directly from Florida REALTORS data and research department, we have much to be thankful for and to look forward to in the months to come.
It’s been a long haul for many Realtors, who are independent contractors, fully compensated by commission only. As sales declined, many have experienced the same setbacks as members of our community. Tallahassee Realtors are in the trenches each day working with home buyers, sellers and investors. We understand challenges buyers have with mortgage lending, disappointment sellers have with sales prices and the challenges of the cost of repairs, and the loss of revenue that some investors experienced over the last four years. However, in 2012 and this first month of 2013, the market trends are changing, and for the better all the way around and here are a few Stats:
- Single-Family homes for Sale Inventory is at it’s lowest since 2008
- Cash Sales Increased over 116% in one year (2011-2012)
- The Median Sales Price increased 1.3% and
- The Average Sales Price of Homes Sold increased 14.1%
- Traditional, Non Distressed Sales are up 20.1%
- Foreclosure Sales are Down 1.5%
Working Nationally with lawmakers to pressure banks to work through inventory, short sale contracts and mortgage modifications we are slowly finding beneficial relief. While changes do not come quickly, stabilization is occurring and homeowners are getting relief. Tallahassee, FL currently has less homes for sale, less distressed sales, and sellers in 2012 appreciated the increased market values than in 2011. REALTORS, Thank you to my fellow Realtors for working thru the toughest market in 40 years and your advocacy for home-ownership.
Want to know how much your home is worth? Ask for your FREE Market Analysis and Home Value Estimation from a REALTOR. We will be happy to provide this information to you, just CLICK HERE. Want more Market Statistics for your particular Neighborhood? Just ask 850-212-0440 and ask for Debbie.
REALTORS remain steadfast to the cause of homeownership and on April 10th Florida Relators from across the entire State will Rally at the Capitol to represent our customers concerns and initiatives. Ask your Realtor to carry your message to the Hill. Let’s keep our State and our City, Tallahassee, in recovery mode.