Weekly Special | August 24, 2015

Fresh Listings Are Fewer And Pricier

New sellers entering the Tallahassee real estate market are fewer in number and are asking more money for their homes.

The graph above shows the median price per square foot of “fresh” listings (meaning homes that have not been listed for sale in the recent past) entering the market.

The blue columns measure the number of listings each month (left vertical axis), while the blue line shows the one-year trend of monthly units listed. Currently, the average number of fresh listings each month is 367 (down 8% from the year prior).

The orange columns measure the median asking value each month (price per square foot, shown on the right vertical axis), while the orange line shows the one-year trend of the median asking value.

The trend of values is definitely on the rise, as the orange line has risen nearly 7% over the past twelve months.

This is a good sign for the market, as we know many homeowners need values to continue to rise so that they can sell and move.

With fewer homes coming onto the market, this too is good as it will help reduce the glut of homes that are available and a diminishing supply will eventually push values higher.

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