Northeast Tallahassee Continues To Lead Home Sales

Posted by Joe Manausa on Tuesday, March 8, 2016 at 5:11 AM By Joe Manausa / March 8, 2016 Comment

Northeast Tallahassee is selling homes.

With more than one half of all homebuyers currently choosing homes in the NE quadrant of Leon County, the supply and demand for housing is getting better here than what we are finding in the other quadrants.

If you happened to catch yesterday's post about the current state of the overall Tallahassee housing market, you'll remember that the market is rapidly approaching equilibrium, where buyers and sellers are trading on equal ground.

Of course, that is just the overall market, each homeowner and homebuyer must know the specific supply and demand for homes that are similar to the ones in which they wish to transact.

The following graph and analysis are therefore a continuation from yesterday, except we have drilled down from the overall market in order to study the supply and demand of homes for sale in NE Tallahassee.

NE Tallahassee Housing Market

The following real estate graph shows the supply and demand for houses in NE Tallahassee, broken down by price range.

Graph of the supply and demand for homes in NE Tallahassee, Florida

The red bars record the average number of listings in each price range over the past year, while the green bars record the average number of sales each month over the past year. The blue line shows the relative supply of homes (months of supply of homes).

When the blue line drops below the yellow field (market equilibrium), we call it a sellers' market. When the blue line moves above the yellow field, we refer to this as a buyers' market.

Right now, the NE Tallahassee real estate market is split. Homes priced below $300,000 are in a sellers' market, while those priced above $350,000 are in a buyer's market. Over time, we should see this boundary move a bit higher.

Expect to see the buyers' market remain at the highest levels for many more years.

The following tool shows a map of all current NE Tallahassee home listings, and it will be updated every 15 minutes to stay current into the future.