Upper End Home Sales Report Contains A Surprise

By
Real Estate Agent with Joe Manausa Real Estate 8508880888

Lately, we have identified the fact that it appears that we’ve reached the bottom of the housing market and in fact, we are seeing signs of increased home buyer activity. Yesterday’s blog included real estate graphs that showed a rise in closed home sales as well as an increase in the new pending contracts., so I received a few comments and feedback from our regular readers.

One such comment/question about real estate in Tallahassee, Florida came from “Buddy” who wrote:

Joe…. Many of the Real Estate agents I talk to are experiencing an up-tic in activity, but most of them say it is in the $400K and below market on housing, and little or no activity in finished lot sales. I wonder if the data stream you are looking at can shed any light on the higher priced ranges for house sales, and has the lot sale market shown any improvement?

As always I look forward to your insightful analysis.

Buddy

In order to answer Buddy’s question, I went the Leon County Tax Assessors database of residential sales in Tallahassee. This includes single family detached homes, condos, and townhouses. In order to clarify market activity, I have created a real estate graph for existing home sales and then separately I have created one for new home sales. The results are somewhat surprising.

[click to graphs of upper end home sales and lot sales in Tallahassee…]

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Rainmaker
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Lina Robertson
RE/MAX Solutions and RE/MAX House of Brokers - Springfield, MO
REALTOR® Serving Springfield, Nixa and Ozark, MO

That is great news for the higher end homes.  I've always thought that once we saw more activity in THAT market, then we could truly start believing this crisis may be turning around.  I love your graphs.

Sep 22, 2009 12:02 AM #1
Rainmaker
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Joe Manausa
Joe Manausa Real Estate - Tallahassee, FL
Tallahassee Real Estate

Thanks Lina. I think we need to see some loan products that make Jumbo more attractive as well.

Sep 22, 2009 12:07 AM #2
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Rainmaker
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Joe Manausa

Tallahassee Real Estate
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