Turnover Rates At Historic Low Levels

By
Real Estate Agent with Joe Manausa Real Estate 8508880888

In preparing for our Weekly Special Housing Report which is emailed to subscribers every Monday morning, I poured through a lot of data on Tallahassee Subdivisions in order to find out which ones had the highest turnover rate. To measure the turnover rate, I divided the number of existing home sales by the total number of homes in each subdivision.

In the real estate graph below, two important statistics are measured for each Tallahassee Subdivision. On the left axis, the turnover rate is shown, while the growth rates is recorded on the right axis. The growth rate is the number of new homes sold this year, divided by the total number of homes in the subdivision as of the end of last year.

Tallahassee+Subdivision+Turnover+Rate

Considering that there are over 1,300 recognized subdivisions in Tallahassee, I find it surprising that only 12 had turnover rates exceeding 4% (1 in 25 homeowners moved from these neighborhoods). Additionally, this graph provides a powerful picture for “red alert” neighborhoods … those that added to their supply of homes this year. Most likely, the established neighborhoods that are adding to inventory right now will most likely take the longest to recover to a healthy balanced of supply and demand.

 

View Full List Of Home Sales By Subdivision

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Rainmaker
1,233,960
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

Our area has military and military contractors as well as medical staff turnover; otherwise, I expect little or no turnover for my residential tenants this summer unless they are moving OUT of the area...

Dec 26, 2010 11:56 PM #1
Rainmaker
1,162,383
Joe Manausa
Joe Manausa Real Estate - Tallahassee, FL
Tallahassee Real Estate

Thanks Wallace. We're a government town that just got a new Governor ... but otherwise, little movement is expected.

Dec 26, 2010 11:58 PM #2
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Rainmaker
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Joe Manausa

Tallahassee Real Estate
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