One unique measurement that we maintain at The Market Bulletin is what we refer to as the home sales success rate. This is simply the measurement of the number of homes sold over a period of time versus the number of homes listed for sale over the same period of time. For example, if 200 homes sold over the past 30 days, and 400 homes were listed for sale, we would say the the Sales Success Rate for the past 30 days is 50% (200 ÷ 400).
In order to get a feel for the kind of success Tallahassee home sellers are finding, we measure this ratio from the 30 day trend all the way to the one-year trend. By doing so, we can see both the current action of the market due to seasonality, as well as the long term movement of the housing market with seasonality removed. It is this “non-seasonal” trend that is so important to watch.
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