Tallahasseee Residential Real Estate Report - February 2008

Tallahassee Residential Real Estate Market Report - February 2008

The final numbers are in and the charts, graphs and analysis have been completed for the February Edition of the Tallahassee Real Estate Market Report.




Every day we record the "hotsheet" to determine the relative change in inventory in the Tallahassee real estate market. The chart above shows Leon County residential real estate inventory as a thrity-day trend of homes coming on the market versus homes coming off the market. Inventory levels are growing again.


The number of homes pended (under contract) is starting to rise again, as we can see the blue line above has started heading higher since September of last year. Below, we can see the affect of new construction on the inventory. When the data falls below the red line, we are building more new homes than we are selling. This graphic shows us that we spent quite a bit of time over the last two years reducing new construction inventory (above the red line).

Another way to look at the information above is with a trend chart (below) which show the twelve-month trend of permits versus sales in Leon County.


The next chart is a bit of a boggler.... Why is the average price rising again even as inventories are rising? Perhaps the solution falls 2 charts beyond it.
The average prices broken down by "new versus resale" show that builders are building less expensive homes now.

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Joe Manausa is the Broker and Co-Owner of Century 21 First Realty. He can be reached by clicking on the comments button below, via e-mail through his company website at www.manausa.com, or by calling (850) 386-2001.

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