As provided by the 2008 census, there are 171, 992 resident that are living in Florida’s capital, the Tallahassee. The Tallahassee is ranked number 113 as one of the biggest cities. The real estate market of Tallahassee provides home for each and everyone of different social status. There are 5 bedroom homes that is worth 4.9 million dollars or 3 bedrooms that is worth $225, 000 and everything that you might need in between.
The real estate market in Tallahassee has been booming for the last five years due to their high sales that reaches over 150 houses a month. For the past two years, the percentage of sales of houses in Tallahassee lowered to almost 65%.
Around 1990s, the real estate market has been perfectly stable. If the market’s stability have been maintained, then the possibility of selling 9, 000 houses during the booming period would not be purchased by many. Based on the trend charts, the number of houses that are supposed to be sold is only around 6, 000 houses. This renders around 3, 000 homes that are not sold. Today, there are several merchants and traders who are having a tough time in selling their houses than they were for the past years. There is only a percentage of 36% that has a big possibility of getting sold out of all the houses that are in the list.
At the present time, the market of Tallahassee has been declining and is already 60% below from where it was situated for the past years, and it is for the last 3 years, to be exact and some people would say that the market will improve after its recent decreases or declines and some people also do not agree to that idea. Moreover, it has also been estimated that the year 2011 and 2010 are not the best years to venture business such as house sales. The year 2012 is also calculated to be the year when the market will begin to boom again. Meaning to say that the number of homes that will be sold in a period of 30 days will increase. However, many experts would say that they are not really certain if the real estate market has already reached the bottom most yet.
Nowadays, people have observed that the amount of houses that are being sold or available for purchase have been getting less and less. The number of houses that are being added in the inventory for sale are getting less and less. However, the marketing experts have a positive attitude towards this kind of experience.
At this present time, even though the real estate market is having a tough time in getting more house sales, it is still looking up for ways to increase and boom the market. But, because of the domestic legislators, it will be tough for them.
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