Weekly Special | April 29, 2019

Hot Market For Million Dollar Homes

The market for million dollar homes (homes priced from $1M and up) has never been better. If you have been thinking of selling a home at the very top of the price range in Tallahassee, now is your time.

The graph above shows all million dollar homes sold and reported in the Tallahassee MLS from 2003 through present, and it is clear to see that 2018 posted significantly more million dollar home sales than any year prior.

In fact, there were nearly the same number last year as the previous three years combined!

Currently, there are 20 million dollar homes for sale in Tallahassee, and three are already under contract, roughly 10 months of supply based upon 2018’s results, or 30 months of supply if you use the average annual sales of million dollar homes. Regardless of the number you use, we are still in a buyers’ market for these homes.

If you are trying to sell a million dollar home and you’re not finding success, you need to change what you are doing. Remember, this is the hottest we have ever seen the market, and rising mortgage interest rates will significantly reduce the buyer pool at the top.

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