Weekly Special | May 13, 2019

So Where Are All The Home Sellers?

The number of new sellers entering the market is lower now than any of the past six years.

The graph above shows the number of “fresh” listings from January through April of each year. We have segmented listings into one of two groups, where “fresh” listings are those homes that are new to the market and were not previously listed.

The other group, not included above, are those “stale” listings that have been around prior to their current listing contract, and some for as many as nine years! These are just homeowners with unrealistic expectations and won’t have an impact on the market until they reconcile their needs with their expectations.

By focusing on fresh listings, we only count a home once; stale listings might be relisted ten or more times before they finally sell or quit trying, so by counting them just the first time they enter the market, we gain a clear understanding of the new inventory.

New Listings Down 7% The majority of our market remains in an inventory shortage, yet new listings are down 7% even after a strong 2018 that saw home values rise far more than average.

It’s a good time to sell for the majority of Tallahassee homeowners, as the strong sellers’ market continues. Only a few areas of town plus homes priced above $600K are still in a buyers’ market, and the first four months of the year suggest that sellers are getting stronger.

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