Tallahassee Home Inventory Report September 2011

The following real estate graph and tables demonstrate housing supply and demand dynamics in the Tallahassee real estate market as of September 4, 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 nearly 12 months of supply of homes on the market in Tallahassee, and though the relative supply fell last month, it was more due to seller’s who have not yet re-listed than it was for homes being sold. High levels of relative home supply 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 September 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		10	0	10		23	0	23		5.2	No Sales	5.2
	$75,000	–	$100,000		40	0	40		45	0	45		10.7	No Sales	10.7
	$100,000	–	$125,000		59	0	59		73	0	73		9.7	No Sales	9.7
	$125,000	–	$150,000		83	1	82		74	0	74		13.5	No Sales	13.3
	$150,000	–	$200,000		222	1	221		274	3	271		9.7	4.0	9.8
	$200,000	–	$250,000		175	13	162		203	26	177		10.3	6.0	11.0
	$250,000	–	$300,000		113	13	100		134	18	116		10.1	8.7	10.3
	$300,000	–	$500,000		187	8	179		188	14	174		11.9	6.9	12.3
	$500,000	–	$750,000		54	0	54		34	2	32		19.1	0.0	20.3
	$750,000	+			32	1	31		9	1	8		42.7	12.0	46.5
	Totals				975	37	938		1057	64	993		11.1	6.9	11.3
	Northwest Leon County (Area 2)
	$0	–	$75,000		124	1	123		178	1	177		8.4	12.0	8.3
	$75,000	–	$100,000		130	0	130		120	1	119		13.0	0.0	13.1
	$100,000	–	$125,000		78	0	78		97	0	97		9.6	No Sales	9.6
	$125,000	–	$150,000		91	2	89		71	4	67		15.4	6.0	15.9
	$150,000	–	$200,000		92	10	82		88	10	78		12.5	12.0	12.6
	$200,000	–	$250,000		26	2	24		21	1	20		14.9	24.0	14.4
	$250,000	–	$300,000		20	1	19		11	1	10		21.8	12.0	22.8
	$300,000	–	$500,000		23	1	22		15	2	13		18.4	6.0	20.3
	$500,000	–	$750,000		2	0	2		4	0	4		6.0	No Sales	6.0
	$750,000	+			8	0	8		1	0	1		96.0	No Sales	96.0
	Totals				594	17	577		606	20	586		11.8	10.2	11.8
	SouthEast Leon County (Area 3)
	$0	–	$75,000		57	0	57		79	0	79		8.7	No Sales	8.7
	$75,000	–	$100,000		55	1	54		39	1	38		16.9	12.0	17.1
	$100,000	–	$125,000		44	2	42		50	3	47		10.6	8.0	10.7
	$125,000	–	$150,000		40	5	35		54	7	47		8.9	8.6	8.9
	$150,000	–	$200,000		49	3	46		53	9	44		11.1	4.0	12.5
	$200,000	–	$250,000		17	1	16		32	8	24		6.4	1.5	8.0
	$250,000	–	$300,000		21	2	19		29	10	19		8.7	2.4	12.0
	$300,000	–	$500,000		19	4	15		28	9	19		8.1	5.3	9.5
	$500,000	–	$750,000		12	0	12		9	3	6		16.0	0.0	24.0
	$750,000	+			3	0	3		1	0	1		36.0	No Sales	36.0
	Totals				317	18	299		374	50	324		10.2	4.3	11.1
	Southwest Leon County (Area 4)
	$0	–	$75,000		75	0	75		97	0	97		9.3	No Sales	9.3
	$75,000	–	$100,000		39	0	39		27	2	25		17.3	0.0	18.7
	$100,000	–	$125,000		30	0	30		11	4	7		32.7	0.0	51.4
	$125,000	–	$150,000		19	1	18		7	2	5		32.6	6.0	43.2
	$150,000	–	$200,000		27	0	27		6	2	4		54.0	0.0	81.0
	$200,000	–	$250,000		4	0	4		1	0	1		48.0	No Sales	48.0
	$250,000	–	$300,000		16	0	16		1	0	1		192.0	No Sales	192.0
	$300,000	–	$500,000		11	0	11		0	0	0		No Sales	No Sales	No Sales
	$500,000	–	$750,000		0	0	0		0	0	0		No Sales	No Sales	No Sales
	$750,000	+			1	0	1		0	0	0		No Sales	No Sales	No Sales
	Totals				222	1	221		150	10	140		17.8	1.2	18.9
	All Area Totals				2108	73	2035		2187	144	2043		11.6	6.1	12.0

* 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 September 2011