Homes For Sale In Tallahassee Today Have Less Competition
Homes for sale in Tallahassee today have fewer competitors than we have seen for the past eight years.
As a matter of fact, it was about this time of year in 2007 when we saw the number of listings really start to rise while at the same time the number of buyers plummeted to very low levels.
This caused the relative supply of homes (the number of homes for sale measured against the current rate of demand) to shoot upwards rapidly and it kept going northward until it peaked at 15.5 months of supply in June 2009.
Today's seasonally adjusted relative supply has fallen to 6.5 months of supply, which means the overall market is rapidly approaching equilibrium.
Supply Of Homes For Sale In Tallahassee Today
The graph below is used to track the relative supply of homes for sale in Tallahassee today.
The number of sales each month is shown as a green line and is measured on the right vertical axis, while the current number of homes for sale is shown in red and also measured on the right vertical axis.
We use these two measurements to plot the current relative supply of homes which are shown as blue columns and measured on the left vertical axis. Finally, the one-year average of the relative supply of homes is shown as a blue line.
And it is this thin blue line that shows the reduced competition among home sellers. For many price ranges, the relative supply of homes is already at market equilibrium, though for homes at the higher price ranges there is still too much competition among home sellers.
You can download our most recent supply and demand report by clicking on the image at the left. It breaks down relative supply by price range and area in the Tallahassee real estate market.
If you take the time to view each area, you will see that relative supply varies quite a bit. You can use this information, whether buying a home or selling a home, to better understand your position in a negotiation which should help you choose the optimal tactics for getting the best deal.
If you would like to know more about how using real estate supply and demand information during your next real estate transaction, simply drop me a note and we'll schedule a time to review current data and prepare you to win in your deal.