One In Every Three Home Sellers Choosing Not To List Right Now
This is the time of year when most people like to move, yet one in every three sellers has chosen to wait since the pandemic made its presence known in Tallahassee.
Take a look at the current inventory of homes and note how many of them are already under contract (nearly 1/2), and you'll see why your home is needed so badly.
Current Listings Of Homes Priced Between $250K and $350K
Video Housing Market Report
Home Sellers Needed
The following graph shows the number of fresh new listings is down 18% in 2020 when compared to the same period last year.
Remember, this is a market that started the year with too few homes, so a reduction in what is being listed is only going to push prices higher and create pent-up demand for homes.
While this might seem like "good news" for sellers as their homes are worth more, you also have to remember that most sellers are going to be buying another home in the same market (with the same soaring prices).
After a recent meeting with my Buyer Specialists discussing "ready buyers," I found that we have 27 buyers who are fully qualified with lenders and want to buy a home in Tallahassee priced between $250K and $350K. Of course, we also have buyers standing by in other price ranges too.
They have seen everything that is available and what they've found is all the properly priced homes are under contract and they are not interested in what remains. We need homeowners who want to move to put their homes on the market!
My plea to people who were planning to sell is "please consider entering the market, we can make it a safe experience and get your home sold fast."
So how did this all come about (you might wonder).
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Year Over Year Makes It All Very Clear
This next graph is a clear indictment of the pandemic's impact on home sellers. It measures year-over-year changes in fresh new listings hitting the market. It compares the current month with the same month from the previous year. Green lines represent growth, while red ones measure declines.
The blue dashed line approximates the time frame in which COVID-19 started impacting home sellers' decision-making in Tallahassee.
In April, fresh new listings were down 36%, while May was worse when we saw the decline grow to 37%. This is not good for the heavy summer season for home selling.
My simple message to people who want to move and who need to sell is to talk to us! We have incorporated new safety measures that allow us to massively market a home while reducing risks to home sellers. Today's technology allows us to do quite a bit without endless showings of properties for sale.
If you are one of those "on the fence" about selling, let us give you a no-strings-attached virtual (or live) presentation to show you how we can sell your home safely and get you moved to take advantage of today's low mortgage interest rates.
Your Local Expert In Tallahassee
When moving to, in, or from Tallahassee, you will fare better if you work with a local expert. We are here to help. If you have further questions on the Tallahassee real estate market, you can leave a comment below, give us a call at (850) 366-8917, or drop us a note and we'll give you the local information needed to ensure a successful, smooth transaction.
As a local born and raised in Tallahassee with a focus on customer service, I promise you'll find great success when working with Joe Manausa Real Estate, just as have our past customers. You can read thousands of their reviews reported on Google, Facebook and Zillow right here: Real Estate Agent Reviews Tallahassee.
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