Relative Supply of homes for sale in Tallahassee
The following graph displays the relative supply of homes for sale in Tallahassee. The relative supply is defined as the current supply of homes relative to the current rate of demand, expressed as months of supply.
Historically, we have seen 6.0 months of supply represent market equilibrium, the state at which neither seller nor buyer has an advantage in the market. Another way to phrase this would be “a balanced market.”
In the graph above, as well as for those following, sales are shown in green while existing inventory is shown in red. Market equilibrium is shown as a yellow field. The relative supply of homes for sale is shown in blue.
When this blue line falls below the yellow field, we refer to this as a sellers’ market, as there is more demand than supply. When the blue line rises above the yellow field, then we refer to this as a buyers’ market, where supply exceeds demand.
Overall, Tallahassee is in a sellers’ market for homes priced below $400,000, and a buyer’s market above $500,000. As you’ll see from the following graphs, the relative supply of homes fluctuates throughout each segment of the Tallahassee real estate market.
Relative Supply Of Homes In NE Tallahassee
The following graph displays the relative supply of homes for sale in NE Tallahassee.
Northeast Tallahassee’s sellers’ market extends to homes up to $450K and the buyers’ market begins at $550K. While the top-end remains awash with too much inventory, it’s important to note that luxury home sales are booming.
Relative Supply Of Homes In NW Tallahassee
The following graph displays the relative supply of homes for sale in NW Tallahassee.
NW Tallahassee’s housing market is in a seller’s market for homes priced below $250K, but immediately above that remains a strong buyers’ market. If you look to the far right of the graph, you’ll see far more inventory (relative supply) here than was showing in Northeast Tallahassee.