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Tallahassee Home Inventory Report October 2009

The following tables demonstrate housing supply and demand dynamics in the Tallahassee real estate market as of October 6, 2009. 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").

Currently, there is over 14 months of supply of homes on the market in Tallahassee. This will continue to put pressure on home prices until we see market inventories stabilize at the 6 months of supply level.

Leon County (All Areas)

    For Sale     Sold     Supply  
PRICE RANGE All New Resale All New Resale All New Resale
All Area Totals 2464 202 2262 2114 223 1891 14.0 10.9 14.4

Northeast Leon County (Area 1)

    For Sale     Sold     Supply  
PRICE RANGE All New Resale All New Resale All New Resale
$0 - $75,000 3 0 3 3 0 3 12.0 No Sales 12.0
$75,000 - $100,000 10 0 10 5 0 5 24.0 No Sales 24.0
$100,000 - $125,000 33 1 32 46 0 46 8.6 No Sales 8.3
$125,000 - $150,000 72 0 72 75 0 75 11.5 No Sales 11.5
$150,000 - $200,000 194 10 184 311 15 296 7.5 8.0 7.5
$200,000 - $250,000 201 14 187 216 16 200 11.2 10.5 11.2
$250,000 - $300,000 160 7 153 154 21 133 12.5 4.0 13.8
$300,000 - $500,000 238 18 220 157 17 140 18.2 12.7 18.9
$500,000 - $750,000 69 4 65 37 5 32 22.4 9.6 24.4
$750,000 + 57 5 52 16 1 15 42.8 60.0 41.6
Totals 1037 59 978 1020 75 945 12.2 9.4 12.4

Northwest Leon County (Area 2)

    For Sale     Sold     Supply  
PRICE RANGE All New Resale All New Resale All New Resale
$0 - $75,000 57 0 57 55 0 55 12.4 No Sales 12.4
$75,000 - $100,000 126 0 126 71 2 69 21.3 0.0 21.9
$100,000 - $125,000 122 1 121 123 4 119 11.9 3.0 12.2
$125,000 - $150,000 166 9 157 140 12 128 14.2 9.0 14.7
$150,000 - $200,000 199 47 152 115 17 98 20.8 33.2 18.6
$200,000 - $250,000 52 11 41 35 13 22 17.8 10.2 22.4
$250,000 - $300,000 47 10 37 12 3 9 47.0 40.0 49.3
$300,000 - $500,000 35 11 24 22 8 14 19.1 16.5 20.6
$500,000 - $750,000 7 4 3 0 0 0 No Sales No Sales No Sales
$750,000 + 8 0 8 1 0 1 96.0 No Sales 96.0
Totals 819 93 726 574 59 515 17.1 18.9 16.9

Southeast Leon County (Area 3)

    For Sale     Sold     Supply  
PRICE RANGE All New Resale All New Resale All New Resale
$0 - $75,000 24 0 24 27 0 27 10.7 No Sales 10.7
$75,000 - $100,000 43 0 43 23 0 23 22.4 No Sales 22.4
$100,000 - $125,000 43 1 42 43 0 43 12.0 No Sales 11.7
$125,000 - $150,000 67 6 61 66 14 52 12.2 5.1 14.1
$150,000 - $200,000 79 11 68 114 26 88 8.3 5.1 9.3
$200,000 - $250,000 28 4 24 40 5 35 8.4 9.6 8.2
$250,000 - $300,000 27 2 25 33 6 27 9.8 4.0 11.1
$300,000 - $500,000 33 0 33 32 13 19 12.4 0.0 20.8
$500,000 - $750,000 8 1 7 4 1 3 24.0 12.0 28.0
$750,000 + 3 0 3 0 0 0 No Sales No Sales No Sales
Totals 355 25 330 382 65 317 11.2 4.6 12.5

Southwest Leon County (Area 4)

    For Sale     Sold     Supply  
PRICE RANGE All New Resale All New Resale All New Resale
$0 - $75,000 31 0 31 20 2 18 18.6 0.0 20.7
$75,000 - $100,000 46 1 45 31 0 31 17.8 No Sales 17.4
$100,000 - $125,000 73 9 64 26 2 24 33.7 54.0 32.0
$125,000 - $150,000 49 9 40 24 7 17 24.5 15.4 28.2
$150,000 - $200,000 29 5 24 23 13 10 15.1 4.6 28.8
$200,000 - $250,000 4 0 4 6 0 6 8.0 No Sales 8.0
$250,000 - $300,000 10 1 9 3 0 3 40.0 No Sales 36.0
$300,000 - $500,000 9 0 9 5 0 5 21.6 No Sales 21.6
$500,000 - $750,000 0 0 0 0 0 0 No Sales No Sales No Sales
$750,000 + 2 0 2 0 0 0 No Sales No Sales No Sales
Totals 253 25 228 138 24 114 22.0 12.5 24.0

* 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 Oct 09

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