Months Of Supply Of Homes In Tallahassee January 27, 2010
Yesterday, we saw that the Tallahassee real estate market currently has 11.6 months of supply of homes for sale. But in reality, the market is not equally balanced in all price ranges, some are doing better and some are doing worse than this average.
In the real estate graph below, we see that while the overall market averages 11.6 months of supply, this is distributed across price ranges where homes from $150,000 to $200,000 have just over 8 months of supply, and at the opposite end of the spectrum, homes priced between $500,000 and $750,000 (as well as homes under $75,000) have over 18 months of supply.
The key is understanding supply and demand in real estate and your price range, then determining how much competition you have if you are a home seller, or how much opportunity you have if you are a home buyer.