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North Florida Region Fights Oversupply of Homes March 11, 2010

While the long-term forecast for home-owners in the northern region of Florida, the short-term outlook is not so rosy.

A glut of available properties, due to aggressive building during and after the boom market that started in 2004, as well as the resulting post-boom correction of slower buyer activity, has left the four county area with 18 months of supply of homes.

This graph is a bit overly simplistic in defining the North Florida real estate market though. Leon County represents the majority of the activity in the area, and currently has 12.6 months of supply. That means the other counties in this report are doing much worse than 12.6 months of supply.

Unfortunately, we see that the surrounding counties currently are measuring supply in years, rather than months. We can expect a longer recovery time for them.

County Listings Sales Months Years
Franklin 108 40 32 2.7
Gadsden 234 151 19 1.5
Jefferson 96 45 26 2.1
Liberty 11 1 132 11.0
Madison 24 4 72 6.0
Taylor 19 2 114 9.5
Wakulla 442 296 18 1.5
Other 121 75 19 1.6

Great Tallahassee Real Estate Resources

Do you want to know more about the Tallahassee real estate market? It is not as hard as you might think keeping up with the movements in the housing market, you just have to know where to look. The following are some of the best resources that you can find on Tallahassee real estate:

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