Dissecting The List Of Homes For Sale In Tallahassee, Florida
There is still an abundance of homes for sale in Tallahassee, Florida, and interest rates are still highly attractive for buyers who want to take advantage of a market in their favor.
Currently, there are just over 2,000 homes for sale in Tallahassee, Florida, with roughly half of those located in the northeast quadrant of Leon County.
Additionally, the Tallahassee MLS has another 1,000+ homes listed in counties other than Leon.
Shopping Homes For Sale In Tallahassee Florida
One thing that seems fairly common among homebuyers today is a readiness to use modern tools (i.e. property search tools on the internet) when shopping for homes for sale in Tallahassee, Florida. The NAR national surveys have shown that 94% of buyers are using the internet, and from what I can tell, that is also true in the Tallahassee real estate market.
But most of the reports that are available to homebuyers (and to people who want to sell a home) are overly general and do not provide the analysis to make an informed decision. They talk about appreciation or depreciation based on median home prices, and that just does not help somebody wanting to negotiate from a position of informed strength. By way of example, look at the real estate graph below:
The red bars, measured on the left vertical axis, show the current number of homes for sale in Tallahassee, Florida in each price range. The blue line (measured on the right vertical axis) shows the relative supply of home for each price range. The yellow band shows market equilibrium (where supply and demand are in balance).
As you can see from above, only homes priced between $200,000 and $250,000 (and homes priced below $75K) are in equilibrium right now, but both of those price ranges are being fed new inventory from the price ranges directly above them (when sellers drop their prices).
Negotiating Homes For Sale In Tallahassee Florida
Overall, the market is still very much a buyer's market, with more homes for sale in Tallahassee, Florida than there are buyers for those homes.
But reports have been telling us the market is improving (and it is), with some parts of Tallahassee doing better than others.
The buyer who uses general information fails to take advantage of the potential gains in negotiation that an informed buyer is able to use.
Take the time to be informed. Work with a real estate buyer's agent so that you know the seller's position for the area and price range that you are shopping.
If you work with one of our informed buyer's agents, you can be assured of having expert guidance and a better understanding of supply and demand for the home that you wish to buy.
If you would like more information on buying homes for sale in Tallahassee, Florida, then drop me a note and we can schedule an interview to review your specific needs and wants.