Tallahassee Real Estate Blog

The real estate market keeps moving along at a pace much too weak for anyone's liking.  We hear exciting news one day, depressing news the next.  But there are some very positive trends happening - not just flash-in-the-pan numbers, puffed-up news stories, or statistical blips, but longer-term gradual movements in the right direction.  Here's a few:

• There were 1719 detached homes sold in Tallahassee (Leon County) during 2011.  This is up from 1705 sold during 2010.  This is the first year that's happened in Tallahassee since 2007.
• There were at least 100 homes sold in each month during 2011.  That's another "first time" since 2007.  Usually, there has been at least 1 or 2 months with only 80 or 90 sales. 
• The median price trend seems hovered around $175,000 in Tallahassee throughout 2011.  We saw pronounced price declines in 2008, 2009, and the first part of 2010.  This trend appears steady.
• The inventory of home listed has declined steadily.  This January, we saw 260 homes newly listed in Tallahassee.  Compare that to January 2010 where 340 homes came on the market.  Granted, there is probably a significant shadow inventory of sellers and banks that would like to put their homes on the market, but if this doesn't happen all at once, it will at least bring some stability to the supply and demand equation. 

Well, it's not earth shattering, but after several years of very visible downward trends, it's nice to see some stabilization.

If you wnat specific info on your Tallahassee home or neighborhood, email us at terancekeenan@kw.com or call 850.445.2476.  We're happy to help.