Search Listings

Real Estate Inventory Levels Now Rising

Rising real estate inventory levels is not good news, as the biggest problem that our market faces is the over supply of homes in all counties that comprise the Tallahassee MLS. While we normally focus on Leon County, this monthly graphic shows housing market supply and demand in  Tallahassee and its surrounding counties.

Tallahassee MLS Supply And Demand

Real supply (the number of homes for sale in the MLS, including all statuses from active through contingent) are measured in red, while the relative supply (months of supply) is shown in purple.

When we look at the real supply of homes (red), we see that our MLS has roughly double the number of homes for sale as we had “pre-boom” in 2003, while relative supply has shot up to 18 months. A balanced market would show 5 to 6 months of supply.

Shadow Inventory Not Included

We also know that we have roughly 5,000 homes in the shadow inventory (homes that need to be sold but are not actively listed in the MLS for one reason or another) and these homes are guaranteed future supply.

This excess of supply will continue to put pressure on home values for at least 3 more years, and even longer if the rate of sales continues to decline.

Post a Comment

Blog Navigation

Posts By Category

All Categories Advice: Real Estate (469) Blogging Real Estate (189) Distressed Property (31) Foreclosures (3) Glossary of Real Estate Terms (28) Government and Real Estate (29) Homes For Sale (100) Housing Market Conditions (1213) Housing Report (54) Lis Pendens (4) Main (1030) Mortgage / Finance (66) New Construction (1) Off Topic (80) Our Listings (3) Our Sales (7) Real Estate Market Snapshot (20) Real Estate Opinion (3) REALTOR News (11) Tallahassee (87) Tallahassee Neighborhoods (246) Uncategorized (50)

Posts By Month

Blog Roll

Homes For Sale In Killearn Lakes Plantation Homes For Sale In Killearn Estates Homes For Sale In Southwood Homes For Sale In Killearn Acres Homes For Sale In Summerbrooke Homes For Sale In Golden Eagle Plantation Homes For Sale In Piney Z Homes For Sale In Bull Run Homes For Sale In Betton Homes For Sale In The Ox Bottom Area

Tag Cloud

Grab Our RSS Feed
© Joe Manausa. All Rights Reserved.
Privacy Policy|Terms of Use|DMCA Notice