The relative home supply in Tallahassee improved again during the month of September. For new readers to the Tallahassee Real Estate Blog, relative home supply is the supply of homes for sale in Tallahassee, measured in months of supply, relative to the current demand for homes. By paying close attention to the supply and demand dynamic in Tallahassee housing, we can anticipate current and future housing market moves.
Valuable Home Supply Report
The report is valuable for all consumers, whether you want to buy a home in Tallahassee or sell a home in Tallahassee, it is good to know what competition exists for each area and each price range.
The housing report is broken down into the four quadrants of the Tallahassee real estate market:
- Northeast Tallahassee homes
- Northwest Tallahassee homes
- Southeast Tallahassee homes
- Southwest Tallahassee homes
Relative Home Supply Dropped In September
The relative supply of homes for sale in Tallahassee dropped by about 10 days worth of inventory during the month of September. The real estate chart below shows how each price range changed during the month. Figures in red represent a reduction in the inventory of homes, while figures in black show growth in the inventory.
While inventory reduction is always good news, we still have a long way to go. The Northeast quadrant of Tallahassee was the only area that showed improvement, but it showed enough to carry the entire market totals. The number of homes for sale in Tallahassee is still way too high. A balanced market is 6 months of supply, and we do not see this level in any area or any price range in the Tallahassee housing market. But we are starting to see some bright spots in certain price ranges …
[click for area and price range reports…]
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