I figured a great way to start a new week would be to discuss the concept of seasonality. The Tallahassee Real Estate Market, like any other industry or market, experiences different levels of sales during the different times of the year. This effect is known as Seasonality.
We measure seasonality in order to predict the levels of sales we should expect each month. This is very helpful for budgeting in the Tallahassee Real Estate Brokerage Business, but it is also helpful when trying to predict how current market conditions are going to play-out over the next few months. The following table shows, as a percentage of annual sales, how the sales occur over the course of a typical year. These figures were calculated by using the sales in the Tallahassee Real Estate Market over the past five years. I have included four different groups in the table, single family homes (SF), Condo/Townhomes (CT), Mobile Homes (MH), and Lot sales (Lots).
As you can tell, the busiest time of the year is during the months of June through August. Perhaps more people move during the summer months due to a lesser effect on school-age children. Who really knows.... The table above is graphed below.
Finally, we can take what we determined above and look at our current market conditions. The figures below are the actual sales in the Tallahassee Real Estate Market this year (Leon County statistics), plus the anticipated finish applying our seasonality figures.
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Joe Manausa, MBA, CRB, CRS | Broker / Owner | Century 21 First Realty
2365 Centerville Road | Tallahassee, Florida 32308 | 850-386-2001 | http://www.manausa.com/