What Home Inventory Trends Tell Us In Tallahassee
If you are curious about what is happening and what is going to happen to home values in the Tallahassee real estate market, I suggest you start your study with a close look at the inventory of homes for sale in Tallahassee (and its surrounding counties). A study of home inventories (and more importantly the movement of inventory) will clue us in quickly as the the current and near future state of the real estate market in Tallahassee.
Home Inventory Levels Dropping In Tallahassee
If I've written it once, I've written it a hundred times. The start of the turn of the market begins with a long-term trend of home inventory reduction. That is why we measure home inventory levels in Tallahassee every day at Joe Manausa Real Estate in Tallahassee. It is a critical that we see inventory levels drop back to where the "normal" pace of sales balances the market.
The graph above gives us the following information about housing inventory in Tallahassee:
- 432 fewer homes on the market versus 270 days ago
- 792 fewer homes on the market versus 180 days ago
- 378 fewer homes on the market versus 90 days ago
- 90 fewer homes on the market versus 30 days ago
Fewer homes is better, but we still have the issue of seasonality in real estate that we must think about. Seasonality in real estate is measured as the fluctuations in home sales due to "time of year" issues. The only way to remove all affects of seasonality on our data is to look at 1-year trends. Our data is not sufficient to do that yet, but we will be able to accomplish this in the first quarter of the coming year.
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Your Local Expert In Tallahassee
When moving to, in, or from Tallahassee, you will fare better if you work with a local expert. We are here to help. If you have further questions on the Tallahassee real estate market, you can leave a comment below, give us a call at (850) 366-8917, or drop us a note and we'll give you the local information needed to ensure a successful, smooth transaction.
As a local born and raised in Tallahassee with a focus on customer service, I promise you'll find great success when working with Joe Manausa Real Estate, just as have our past customers. You can read thousands of their reviews reported on Google, Facebook and Zillow right here: Real Estate Agent Reviews Tallahassee.
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