Will January Home Sales Point to a Rise in Home Values?

Will January Home Sales Point to a Rise in Home Values?

Economists and housing watchers have been predicting a better 2015 for the real estate market. That’s good news for the millions of home owners that are still underwater or have very little home equity. They’ve been waiting for home values to rise – and home values have been rising over the past few years, albeit very slowly. Now, a significant rise in January Tallahassee home sales point to a rise in home values.

Rise in Sales Produces a Rise in Home ValuesRise in home sales

In general, as demand for homes rises, so do home values. The decline in homes values during the great recession was directly linked to the decline in home purchases. That’s why the rise in Tallahassee home sales is exciting: increased sales points to increased demand.

This January, there were 149 home sales – the most home sales since January 2007 at the peak of the real estate market. Compare that to January 2014 when there were 128 home sales. The biggest increases occurred in the northwest area of Tallahassee (Old Bainbridge Highway, US27, FSU) and the southeast area (Southwood, Apalachee Parkway). Northeast Tallahassee was virtually unchanged.

The January 2015 level of home sales continue an unbroken rise in January home sales since 2010. This boost in sales has mirrored a rise in home values over the same period. In January 2015, the average sales price was $213,896. This is up from the average sale price of $206,443 in January 2014. The largest jump in January to January average sale prices occurred in southeast Tallahassee.

Are you interested in the rise in home values in your neighborhood? Each neighborhood and each house is different. Let us provide you with a free home value analysis. You can feel confident in how much you will benefit from the rise in home values.

Click. Find Your Home Value

Click. Find Your Home Value

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