Some interesting figures were just released by the Market Trends & Analysis Committee (thanks to Don Pickett) that I'd like to share with my readers (see bottom of blog).  The chart below shows a study of resale - no new construction - and compares sales for the first half of 2006 with sales for the first half of 2007.  You'll see sales are down, as we hear time and time again in the media, and that appreciation in Tallahassee is modest.  However, the break down of that general news is always good to know - especially for my customers who are considering how to price their homes. 

I apologize for the messy tabs below.  The first column shows the area, the second the number of sales in the first half of 2006, the third is the number of sales in the first half of 2007, then the fourth shows the percentage of change.  Next, the fifth column shows the average price of a sale in the first half of 2006, column 6 shows the same for 2007, then column 7 shows the percentage of appreciation. 

It is interesting to consider that while sales are not significantly down overall for Leon County, there is currently almost twice the inventory that we had this time last year.  We're still fairly stable in sales, but there is currently an approximate 10-month supply of homes on the market.  If no new homes came up for sale, we could sell everything on the market at our current rate and not run out of homes for 10 months.  We typically consider a 3-month supply of homes to be healthy.

I hope you find this information helpful!  If you have any questions, please don't hesitate to contact me at Lisa@CareyCottage.com.  I always enjoy hearing from you and really appreciate the many kind comments I've received regarding this blog.  As a direct response to your comments, I will start adding more local statistical information like below. 

APPRECIATION 2007 HALF YEAR

RESALE DETACHED HOMES

AREA         2006 UNITS   2007 UNITS CHANGE 2006 AVERAGE 2007 AVERAGE APPRECIATION

LEON                 1382     1,105     -20%     241,216     244,339         1%

NE AREA         721         591         -18%     295,412     296,833         0%

NW AREA         356         290         -19%     177,749     185,819         5%

SE AREA         191         151             -21%     219,097     203,293         -7%

SW AREA         114         73             -36%         133,710     136,731         2%

WAKULLA         111         91            -18%         234,637      219,025         -7%

GADSDEN         94         68             -28%         152,667         166,373         9%

JEFFERSON        40     28             -30%         192,606            285,792         48%