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Chris Chaback - Tallahassee (Leon County) Florida July '08 vs July '07

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Real Estate Agent with Keller Williams Realty

Hi All,

I was looking at some numbers the other day, and decided to see how July 2008 compared to July '07.  All the following information is for Single Family Residential Homes in the NE, NW, SE, and SW of Tallahassee and Leon County Florida.

First lets look at all of Tallahssee and Leon County for the first seven Months of 2008.

Market Statistics All MLS
Statistics for: Class=RS,MF,CO,LL,RN AND Type=DET AND Date Range=01/01/2008-08/31/2008 AND Area=01,02,03,04 AND Board=-1; As Of: 8/6/2008
 
Class Bedrooms Current Active Avg List Price Avg DOM
All All 2,197 $304,576 136
RS All 2,197 $304,576 136
 
Class Bedrooms Total Listed Num Sold Pct Sold Avg List Price Sold Avg Sale Price Sold Sale Price/List Price Ratio Avg DOM Sold Avg List Price Unsold Pct Expired
All All 3,342 1,220 36.51% $259,199 $248,555 95.89% 109 $285,620 34.83%
RS All 3,342 1,220 36.51% $259,199 $248,555 95.89% 109 $285,620 34.83%

The numbers are still down compared to 2007.  The interesting thing is Listings are down from 4180 to the 3342.  As Listings continue to drop, ther will be more of a balance to the Market.

Enough of year vs year, lets see how the Month of July compares!

July '08

Market Statistics All MLS
Statistics for: Class=RS,MF,CO,LL,RN AND Type=DET AND Date Range=07/01/2008-07/31/2008 AND Area=01,02,03,04 AND Board=-1; As Of: 8/6/2008
 
Class Bedrooms Current Active Avg List Price Avg DOM
All All 2,197 $304,490 136
RS All 2,197 $304,490 136
 
Class Bedrooms Total Listed Num Sold Pct Sold Avg List Price Sold Avg Sale Price Sold Sale Price/List Price Ratio Avg DOM Sold Avg List Price Unsold Pct Expired
All All 417 199 47.72% $253,146 $244,803 96.70% 109 $289,220 34.05%
RS All 417 199 47.72% $253,146 $244,803 96.70% 109 $289,220 34.05%

July '07

Market Statistics All MLS
Statistics for: Class=RS,MF,CO,LL,RN AND Type=DET AND Date Range=07/01/2007-07/31/2007 AND Area=01,02,03,04 AND Board=-1; As Of: 8/6/2008
 
Class Bedrooms Current Active Avg List Price Avg DOM
All All 2,197 $304,494 136
RS All 2,197 $304,494 136
 
Class Bedrooms Total Listed Num Sold Pct Sold Avg List Price Sold Avg Sale Price Sold Sale Price/List Price Ratio Avg DOM Sold Avg List Price Unsold Pct Expired
All All 520 255 49.04% $268,760 $262,308 97.60% 77 $307,855 29.23%
RS All 520 255 49.04% $268,760 $262,308 97.60% 77 $307,855 29.23%

It appears the Number of Listings are down, as well as average Sold Price.  Sales/List Price ratio is pretty close, but Days on Market is up.

We will have to keep a close eye on the rest of the 3rd Quarter, 4th Quarter, and into 2009 before we will know if we are in any kind of a Housing Recovery in Tallahassee and Leon County.  It will also be interesting to see how the Nov. Presidential Election will shape the start of 2009.

If you have any comment, questions, or observations, please feel free to pass them on.

I can be reached at 850.545.9317 or by email chris@bsbipartners.com

Until Next Time!

Chris

Christopher M. Chaback - 850.545.9317cell
Broker Associate, ABR, CRS



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