6 Clear Pictures Of Today's Housing Market

Real Estate Agent with Joe Manausa Real Estate 8508880888

Since we often are told that nothing in life is free, I would like to present our readers six housing graphs that clearly demonstrate current trends in the Tallahassee real estate market recovery.

We will take a close look at property types and distressed home sales, which should provide homeowners with an understanding of what is happening to the value of their homes.

Foreclosure Sales On The Rise

Our first housing graph contains information that you need to know if you are getting ready to sell a home, buy a home, or invest in the Tallahassee real estate market in any way.

Home Sales By Type

This graph clearly shows that distressed home sales are on the rise, as roughly 1 in every 3 transactions is a short saleforeclosure, or bank owned property. This is tough for existing homeowners, because that means a full third of their competition just wants to get rid of the property, and the sales price is a secondary consideration.

Home Sales Accelerating

Those distressed properties are keeping buyers active, as the first quarter of 2014 out-performed all years prior going back to 2008.

House Sales By Type

The major question that looms for the Tallahassee real estate market is how many more distressed properties need to clear the market? We have to wonder whether a flood of properties is waiting around the next corner, or perhaps will their be price-shock for buyers coming soon if we conclude the cleansing of the market.

Condominium Values Recovering?

2014 has delivered lower values for single family detached homes and townhouses, but condominium values have shot upwards.

House Values By Type

This is less a move in market values, and more a picture of what happens in a low liquidity market (condo sales in Tallahassee) when product mixes change. The fact is we are seeing some of the downtown market wake up, and with so few condominiums sold, their impact on "average" condo values is very clearly fogging our results.

Home Prices Coming Down

Single family detached home prices and values are coming down thus far in 2014. So too are townhouses.

House Prices By Type

I suspect this is nothing more than a normal blip in an upwardly moving market. Values and prices soared in 2013, it is only logical that we would see some regression as distressed home sales "confused" buyers. When we see distressed sales begin to decline, you can expert this short term reprieve to reverse.

Non-Distressed Home Values Down

The difference between arms length home values and distressed home values was at its widest margin last year, and buyers are being pulled to values in short sales and foreclosures.

Home Values By Type

This has caused competition for distressed properties and we are seeing values rise, while it has reduced the competition among arms length sellers, thus values are under pressure.

Distressed Home Prices Rise

Our final tax day freebie shows that the majority of distressed properties that are selling are below the median home price in Tallahassee.

Home Prices By Type

This means that when we compare the average prices and values of distressed properties with those of arms length properties, we are not really comparing apples to apples. Investment properties still dominate the distressed sales, so we have to take these relative images with a grain of salt and ensure that we do a detailed evaluation for every specific situation for which you find yourself. Never apply market averages directly to your specific scenario, adjustments need to be made.

What To Do With Your Housing Graphs

OK, I admit, free pictures of the housing market wasn't like winning the lottery, but hey ... we tried :).

If you want to know how to use the information from your 6 housing graphs to make a move in the Tallahassee real estate market, just drop me a note and we will schedule a time to review your specific needs and wants, and then get you moving!


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Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Excellent info Joe.  Thank you very much.  (Similar to my market)

Apr 23, 2014 11:09 PM #1
Joe Manausa
Joe Manausa Real Estate - Tallahassee, FL
Tallahassee Real Estate

Thanks Gabe (I was just down your way last weekend for a wedding). Beautiful.

Apr 23, 2014 11:12 PM #2
Fernando Herboso - Broker for Maxus Realty Group
Maxus Realty Group - Broker 301-246-0001 - Gaithersburg, MD
301-246-0001 Serving Maryland, DC and Northern VA

I guess that is the shadow inventory that everyone was talking about ...

Apr 23, 2014 11:33 PM #3
Joe Manausa
Joe Manausa Real Estate - Tallahassee, FL
Tallahassee Real Estate

I think so Fernando, we'll be seeing it for another few years.

Apr 23, 2014 11:37 PM #4
Randy Shamburger
Movement Mortgage - Greenville, SC
FHA, VA, USDA and Conventional Mortgage Expert

Excellent market reports, thanks for sharing.

Have a Big day,


Apr 24, 2014 03:49 AM #5
Sean Batcheler

Nice post - great report. Thanks

Sean Batcheler

Apr 24, 2014 09:44 PM #6
Karen Mathers - REALTOR®
Keller Williams Vero Beach - Vero Beach, FL
When it Matters, Choose Mathers! 772-532-3221

Great information here!  I personally like to see those green lines of Arms Length Transactions topping the charts!  It will be great to get back to "normal" LOL!

Apr 25, 2014 01:41 AM #7
Karen Johnson, Realtor, ABR
Addison Wolfe Real Estate - Doylestown, PA
"Bucks County PA Homes"

Hi Joe, these are great numbers and an easy to read market report. I hope you receive lots of clicks and leads from it!

Apr 25, 2014 11:03 AM #8
Rod Pierson
Results Real Estate Inc - Redding, CA
Northern California

Iteresting presentation of your local market trends, like the graphs.  Enjoy your market, great post. 

Apr 25, 2014 04:18 PM #9
Bruce Swedal
Denver, CO
Denver Real Estate

Thanks for the insight into your market with this concise report. I enjoy learning about new areas. Local home buyers and sellers should look you up.

Apr 28, 2014 01:16 AM #10
IRMA Beltran
Century 21 M & M and Associates-Turlock homes Real Estate - Turlock, CA
Your Real Estate Agent 4 Life Always there 4 You!

Excellent report, thank you for sharing.

Have a Blessed day!

May 02, 2014 06:46 AM #11
A. J. Zaki
REMAX Realty Pros - Boca Raton, FL
Home Finder In Florida

Thank you for sharing this information! Have a great week!

May 07, 2014 12:45 AM #12
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Tallahassee Real Estate
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