Search Listings

Tallahassee Home Inventory Report Available For Download

march-home-inventory-report-in-tallahasseeEvery month we pull all the data from the Tallahassee Board of REALTORS® Multiple Listing Service (MLS) in order to determine the months of supply of homes, by price range. This report is a great snapshot that is valuable to people who want to buy a home in Tallahassee as well as to people who want to sell a home in Tallahassee. Think of this as the "competition report" for each price range.

Each area of Leon County (Tallahassee Real Estate Market) is broken down by homes for sale and homes that have been sold. The report shows new home sales as well as resales, and then computes the months of supply of homes (based upon the current rate of sales) for each area and each price range.

Slower Home Sales  Cause Higher Levels Of Supply

With home sales continuing to fall, months of supply of homes continues to rise. Additionally, we saw an increase in the total number of homes for sale for the first time in quite a while. The combination of fewer home sales as well as more homes coming on the market at the beginning of the year has caused a growth in both real and relative supply.

inventory-of-homes-in-tallahassee

The table above is the summary report for home supplies for the Month of March. For example, for homes price d$250,000 to $300,000, there are 38.8 months of supply for the Northwest section of Tallahassee. What this means is that at our current rate of sales, there are enough homes for sale in the Northwest section of Tallahassee, in that price range, to satisfy all of the buyers for the next 3 years and three months!

Balanced Real Estate Markets Seek 6.0 Months Of Supply Of Homes

You might be wondering what all the numbers are supposed to be for a "normal" real estate market. Most people around the country consider 6.0 months of supply to be a balanced or level market. Once the numbers drop below 5.0 months of supply, we consider it a "sellers'" market, whereas when the numbers rise about 7.0 months of supply, we consider it a "buyers'" market. Looking at the real estate chart above, you can see how severe a buyers' market that we are in.

Housing Market Softened Across The Board

When we compare this month with last month, we see most areas and most price ranges actually got worse. Note, if the numbers are in red, that represents a drop (which means supply got better).

tallahassee-home-inventory-change

So, from the real estate chart above, we see that homes priced $250,000 to $300,000 in the Northwest grew by 2 months of supply during the past month. A home buyer and/or home seller can use this chart to get a feel for the relative competition in the appropriate price range. So, if somebody is looking to sell a home, in the Northwest, priced between $250,000 and $300,000, that person needs to know that competition just got tougher.

Subscribe in a reader Subscribe by email

As a reminder for those who subscribe to the Tallahassee Real Estate Blog by email, some embedded pictures and videos might not be appearing in your email and you might need to click the title header to go to your browser where all will be visible. Additionally, if you would like to respond (leave a comment) to this article, you will need to “click through” to the blog site to post your feedback.

Keep checking out the Tallahassee Real Estate Blog every day for updates that include charts, graphs, and analysis of the Tallahassee real estate market.

If you like this Article then please subscribe to my blog through a full RSS feed, or you can Subscribe by Email.You will be able to stay informed about the happenings in the Tallahassee Real Estate Market.
Joe Manausa is a real estate investor and the Broker and Co-Owner of Joe Manausa Real Estate. He can be reached via e-mail through the Tallahassee Real Estate Website or catch his latest writings on the Tallahassee Florida Real Estate Blog , or by calling (850) 386-2001.
View Joe Manausa's profile on LinkedIn

Post a Comment

Blog Navigation

Posts By Category

All Categories Advice: Real Estate (466) Blogging Real Estate (191) Distressed Property (31) Foreclosures (3) Glossary of Real Estate Terms (27) Government and Real Estate (29) Homes For Sale (95) Housing Market Conditions (1211) Housing Report (52) Lis Pendens (4) Main (1030) Mortgage / Finance (66) New Construction (1) Off Topic (77) Our Listings (3) Our Sales (7) Real Estate Market Snapshot (20) Real Estate Opinion (3) REALTOR News (11) Tallahassee (86) Tallahassee Neighborhoods (199) 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