Tallahassee Home Inventory Report August 2011

The following real estate graph and tables demonstrate housing supply and demand dynamics in the Tallahassee real estate market as of August 3, 2011. Each area of Tallahassee (Leon County, Florida) is summarized with homes for sale, homes that have sold over the past 12 months, and finally the relative supply of homes for sale (measured in “months of supply”).

Tallahassee Real Estate Supply And Demand

Currently, there are over 12 months of supply of homes on the market in Tallahassee, and the relative supply is rising. This will continue to put pressure on home prices until we see market inventories stabilize at the 6 months of supply level.

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	Leon County Inventory Report
	Residential Supply August 2011
					For Sale				Sold (Past 12 Months)				Months of Supply
	PRICE RANGE				All	New	Resale		All	New	Resale		All	New	Resale
	Northeast Leon County (Area 1)
	$0	–	$75,000		9	0	9		21	0	21		5.1	No Sales	5.1
	$75,000	–	$100,000		36	0	36		42	0	42		10.3	No Sales	10.3
	$100,000	–	$125,000		56	0	56		74	0	74		9.1	No Sales	9.1
	$125,000	–	$150,000		98	1	97		69	0	69		17.0	No Sales	16.9
	$150,000	–	$200,000		227	1	226		267	3	264		10.2	4.0	10.3
	$200,000	–	$250,000		189	11	178		195	25	170		11.6	5.3	12.6
	$250,000	–	$300,000		123	10	113		134	18	116		11.0	6.7	11.7
	$300,000	–	$500,000		213	12	201		182	14	168		14.0	10.3	14.4
	$500,000	–	$750,000		51	0	51		35	2	33		17.5	0.0	18.5
	$750,000	+			39	1	38		8	1	7		58.5	12.0	65.1
	Totals				1041	36	1005		1027	63	964		12.2	6.9	12.5
	Northwest Leon County (Area 2)
	$0	–	$75,000		125	0	125		169	1	168		8.9	0.0	8.9
	$75,000	–	$100,000		138	0	138		117	1	116		14.2	0.0	14.3
	$100,000	–	$125,000		83	0	83		98	1	97		10.2	0.0	10.3
	$125,000	–	$150,000		95	2	93		68	2	66		16.8	12.0	16.9
	$150,000	–	$200,000		115	14	101		84	11	73		16.4	15.3	16.6
	$200,000	–	$250,000		36	3	33		22	2	20		19.6	18.0	19.8
	$250,000	–	$300,000		22	1	21		13	1	12		20.3	12.0	21.0
	$300,000	–	$500,000		17	1	16		15	3	12		13.6	4.0	16.0
	$500,000	–	$750,000		2	0	2		5	0	5		4.8	No Sales	4.8
	$750,000	+			10	0	10		0	0	0		No Sales	No Sales	No Sales
	Totals				643	21	622		591	22	569		13.1	11.5	13.1
	SouthEast Leon County (Area 3)
	$0	–	$75,000		51	0	51		79	0	79		7.7	No Sales	7.7
	$75,000	–	$100,000		50	1	49		36	1	35		16.7	12.0	16.8
	$100,000	–	$125,000		52	4	48		47	1	46		13.3	48.0	12.5
	$125,000	–	$150,000		31	1	30		54	8	46		6.9	1.5	7.8
	$150,000	–	$200,000		55	3	52		55	10	45		12.0	3.6	13.9
	$200,000	–	$250,000		23	1	22		30	9	21		9.2	1.3	12.6
	$250,000	–	$300,000		23	1	22		30	11	19		9.2	1.1	13.9
	$300,000	–	$500,000		22	4	18		30	9	21		8.8	5.3	10.3
	$500,000	–	$750,000		13	0	13		7	3	4		22.3	0.0	39.0
	$750,000	+			4	0	4		1	0	1		48.0	No Sales	48.0
	Totals				324	15	309		369	52	317		10.5	3.5	11.7
	Southwest Leon County (Area 4)
	$0	–	$75,000		66	0	66		100	0	100		7.9	No Sales	7.9
	$75,000	–	$100,000		50	2	48		27	2	25		22.2	12.0	23.0
	$100,000	–	$125,000		38	4	34		14	4	10		32.6	12.0	40.8
	$125,000	–	$150,000		21	2	19		6	2	4		42.0	12.0	57.0
	$150,000	–	$200,000		29	1	28		10	4	6		34.8	3.0	56.0
	$200,000	–	$250,000		4	0	4		2	0	2		24.0	No Sales	24.0
	$250,000	–	$300,000		14	0	14		1	0	1		168.0	No Sales	168.0
	$300,000	–	$500,000		8	0	8		0	0	0		No Sales	No Sales	No Sales
	$500,000	–	$750,000		1	0	0		0	0	0		No Sales	No Sales	No Sales
	$750,000	+			0	0	1		0	0	0		No Sales	No Sales	No Sales
	Totals				231	9	222		160	12	148		17.3	9.0	18.0
	All Area Totals				2239	81	2158		2147	149	1998		12.5	6.5	13.0

* Residential Properties including single family detached homes, condos, and townhouses ** Source: Tallahassee Board of REALTORS® Multiple Listing Service (Tallahassee MLS)

*** Download a copy of this in .pdf format: Tallahassee Home Inventory Report August 2011