Weekly Special | October 18, 2021

Available Inventory Up 51% Since May

The supply of homes for sale has been far too low all year, and it is much worse today than it was one year ago. But that does not mean it’s as bad today as what we’ve seen previously this year.

As I have pointed out in the past, when buyers go online and look at homes for sale, more than one-half of the listings are not really available. The supply of homes for sale is far too low for buyers to be able to casually shop for a home.

The dashed green line plots the the “under contract” trend, and it has hit an all-time high of 57%. We had never seen this trend hit 40% until last year, but it has blown past that mark by a mile.

But seasonality plus a small rise in mortgage interest rates has brought more opportunity for buyers. Today’s inventory, while still far too low, has more available homes than we saw back in May. When we remove the homes for sale that already are under contract, there are 51% more homes for buyers to see than what they would have found in May.

Again, it is worse that it was last year, and that is why the under contract trend continues to rise. But today, there are 538 homes for sale in Leon County NOT under contract versus just 356 in May.

If you are ready to sell your home, conditions remain extremely favorable for you to get top dollar while also controlling the time frame of your move. Simply give us a call and we’ll schedule a time to put your best plan together.

The original one-page Weekly Special PDF is still available.