MLS Inventory Update
It’s time for another update of our housing inventory in the Tallahassee Board of Realtors Multiple Listing Service (MLS) which covers homes in Leon County, Wakulla County, Gadsden County, Jefferson County, Franklin County and a category referred to as “Other Counties.”Every month we track the MLS inventory trends and produce the following real estate inventory chart:
Updated MLS Information
The purple line says it all. Inventories have hit the seventeen (17) months of supply range and look to continue climbing in the near future. Sales (green line) continue to trend down and supply (red line) is only beginning to drop.
More analysis is needed with this information as it is unwise to lump all these properties together. While each county shares similar market reactions, there is a distinct difference between beach properties and inland properties. I will do an in-depth analysis of each county in the coming weeks.
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Joe Manausa is a real estate investor and the Broker and Co-Owner of Century 21 First Realty. He can be reached via e-mail through the Tallahassee Real Estate Website or catch his latest writings on the Tallahassee Florida Real Estate Blog , or by calling (850) 386-2001.
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August 4th, 2008 at 6:49 pm
I enjoy following your blog! The Bend Oregon real estate market continues to slow. It looks like a good time to buy in your market.
August 5th, 2008 at 10:21 am
I think the wider the spread between supply and sales, the more opportunities there are for buyers. I don’t think we have hit bottom in Florida, but I do think we are close. Buyers have more to choose from in today’s market and that adds up to one of the best buyers markets in decades.
Great blog.
August 7th, 2008 at 6:41 am
Hi,
Rightly said that there is more analysis needed on this information. No doubt your sales are going down and the inventories are increasing, the time is coming when there will be more sales in the market and president’s new orders will have a good effect on the sales.