Weekly Special | March 9, 2020

Number Of New Listings Is TOO LOW

The number of new listings entering the market is far too low to keep up with the current rate of demand for homes.

Buyers in this market must be ready to compete in a multiple-offer situation on the homes listed for sale below $400K (and even higher in Northeast Tallahassee).

The graph above shows the number of fresh new listings entering the MLS in January and February of each year. I use the term “fresh” to describe homes listed for sale that were not previously listed.

These are homes that are truly new to the market, not merely old inventory that was canceled and relisted by the agent or a new agent.

The year started off with too few homes for sale, and the number of fresh homes entering the market is down 14% when compared to the same period last year.

Low Supply + High Demand Supply is low, demand is high, simple economics tell us that prices are going to move higher. If you are in the market to buy a home, waiting is only going to cost you more money.

Of course, if you are selling too, then the home you are in now is going up too so the impact should be less. Our Monthly Supply And Demand Reports break out the inventory for each price range and area.

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