Weekly Special | September 18, 2016

Confidence Soaring Among Newest Home Sellers

The newest home sellers entering the market are asking significantly more for their homes (8% more than what we saw one year ago).

The graph above is fairly straightforward, but it required hundreds of hours of work to produce.

Intense scrutiny of every home for sale was involved so that we can separate fresh listings (homes listed for sale for the first time) from stale listings (those that have been on the market without selling in prior years).

The blue bars report the median asking price of fresh listings each month (recorded on the left vertical axis), while the orange bars report the median home asking value each month, recorded as price per square foot and shown on the right vertical axis.

The trend of both asking prices and asking values are shown as straight lines in their respective colors.

Bottom Line? Home sellers are asking for more and are gaining confidence.

If the Tallahassee real estate market had a consumer confidence poll, this is what the results would look like.

Remember, this information includes only “new” sellers and we’ve washed out all the people who keep coming back to the market (who likely started with unrealistic expectations).

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