Long time readers of the Tallahassee Real Estate Blog know that I produce charts, graphs, and analysis of our local housing market, and most of those reports show information relating to what is selling.
But every month I also produce a Tallahassee Real Estate Supply and Demand Report, as it shows the relationship between what has been selling versus what is available at the time of the report.
Today's post shows some of the interesting trends occurring with the current inventory of homes for sale in Tallahassee.
Inventory Status For The Tallahassee Real Estate Market
There are three different status levels that at which homes can be listed. For example, the home is either "For Sale" or "Pending" or "Contingent." The latter two means the seller has executed a contract with a buyer, whereas the former means no contract exists for the property.
The two major trends that I see occurring are the decline in "For Sale" inventory and the decline in "Contingent" inventory. While the contingent inventory is up 22% over December of last year, it has been falling off since the summer peak. Could this be a sign of short sales clearing at faster levels? Time will tell.
Monitor The Tallahassee Real Estate Market
You can download our monthly Tallahassee Real Estate Inventory Report (click image at left) to stay up to date on the relative supply of homes for sale in Tallahassee.
Our report segments the market by area and price range, then shows just how much competition there is for homeowners in each category.
It is important to understand the difference between real supply and relative supply to truly reveal current home value trends.
This is a "must have" report for somebody who is thinking of selling a home in Tallahassee or someone preparing to write an offer on a home here as well.
If you are thinking about making a move to or from the Tallahassee real estate market, just drop me a note and we can schedule a time to help you build a winning strategy.
Joe Manausa, MBA is a 24 year veteran of real estate brokerage in the State of Florida and has owned and managed his own company since 1992. He is a daily blogger with content that focuses on real estate analytics and providing his clients with a tactical advantage in today's challenging market.