Weekly Special | February 25, 2018

92% Of NE Tallahassee Buyers Must Compete

Northeast Leon County is the busiest quadrant in the Tallahassee housing market, as just over half of all home sales occur here.

The graph above shows the one-year trend of the supply and demand of homes in Tallahassee. The red bars measure the number of listings while the green bars measure the number of sales.

Supply Of Homes Is Far Too Low When we divide annualized listings by sales, we determine relative supply (blue line recorded as months of supply). This relative supply is hugely important to you if you want to know the current and near future direction of the housing market.

The yellow band above highlights “market equilibrium,” a level where we consider the market balanced. When the blue line drops below that yellow range, we call it a sellers’ market.

Currently, the supply of homes for sale priced $450K or lower is far too low. In fact, 92% of all sales occurred in this price range last year, so this means that nine out of ten NE Tallahassee homebuyers are likely to find themselves in a grossly imbalanced sellers’ market and having to compete with other buyers at the time they find the home they would like to buy.

If you are in this situation, work with an A-rated buyers’ agent, get prepared, consider all areas in Tallahassee before committing to NE Tallahassee if you must, and then be decisive and make a SMART offer when you find the home you would like to buy.

This issue went with a longer report on our blog: read the full blog post. The original one-page Weekly Special PDF is still available.