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Home Builders: More Houses Are Needed In Tallahassee

Shout out to homebuilders: We need more houses in Tallahassee

We need more houses in Tallahassee, so consider this a shout-out to all homebuilders to make us some more!

The inventory of homes for sale in Tallahassee is far too low, and that means there are buyers who are ready to move yet have nowhere to go. Today's post starts with all new homes for sale in Tallahassee and then delves into the rate that new homes are being listed for sale.

New Construction Homes For Sale In Tallahassee

205 Properties
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New Construction Entering The Tallahassee Housing Market

As you saw from the list of new home construction above, there is not a whole lot going on in Tallahassee.

The graph below shows the trend of new homes entering the market as well as the average price trend (trend means the one-year average for both measurements).

Graph of number of new construction listings and average price in Tallahassee

The average number of homes being built each month is on the rise, and if all we had for data was this graph, one would think we are not far from an all-time high number of new homes being built.

Unfortunately, that is not the case. Our current average of just under 40 per month is far lower than the 150+ per month we averaged in the 1990s and far below the overzealous building that we saw after the turn of the century. Unfortunately, the losses incurred 15 years ago still have builders and bankers a little squeamish about another bubble (watch this video if you have concerns about a new bubble forming).

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Both New And Existing Listings Are Too Few

When we look at all fresh new listings (both new construction and existing homes that have not been recently listed for sale), we see that the amount of houses being listed for sale is the second-lowest in the past 7 years, and yet the demand is the highest.

Graph off all fresh new listings in the Tallahassee real estate market

Right now, there appears to be a slow-down from existing homeowners entering the market due to fear of the pandemic, and that makes perfect sense. But the ones that are entering the market are getting sold for top dollar and buying replacement homes with historically-low mortgage interest rates.

My recommendation for those who were planning on moving this year (but who have been stalled by the pandemic), give us a call and let us discuss some of your options. You might be amazed at what you can do today.

As for our readers who are homebuilders, talk to your lenders about producing more inventory when the pandemic allows. Even prior to new construction slowing due to health concerns, the pace of new homes being brought to the market was far too slow. There is a great opportunity for builders who bring the right homes to the market.

Recent Video Housing Market Reports

July 2020 Housing Market Report
The Housing Market July 2020 Report is a comprehensive analysis of the Tallahassee real estate market at the half-way point in 2020. If you own a home in Tallahassee, this will give you insight into how your largest asset is doing and let you know where you stand if you would like to move now or in the near future. If you do not live in Tallahassee, this report is likely to reveal market conditions very similar to your own, though the price-points might be higher or lower.
June 2020 Housing Market Update
3 Market Forces Helping Home Sellers

Joe Wrote The Book On How To Sell A Home Today

Joe Manausa wrote the book on how to sell a home in the digital age, you can find it here“Location, location, location’ is no longer a competitive advantage. Digital marketing and going direct to consumer have made all geographical boundaries obsolete. The Business of Getting Business is a must-read modern-day survival guide for any local business to get to the next decade. Local businesses are on death ground.

They can either take a stand and re-invent themselves by embracing the digital frontier and have a chance to survive the overwhelming odds of digital direct-to-consumer capabilities that have erased all local and national business distinctions, or they can choose business as usual and accept certain death.

The Business of Getting Business is the critical survival guide for those that choose to dig in and fight.”
   – Anthony Noto, CEO, SoFi and former COO, Twitter

Get the book that explains it all, in a manner that is understanding to all, even technology neophytes. It's available on Amazon, a trusted source for consumers.

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Joe Manausa Real Estate
1934 Dellwood Drive
Tallahassee, FL 32303
(850) 366-8917