Tag: home values
2016 was an interesting year for Tallahassee residential real estate. Inventory was down and yet home sales were up. There were in total 8.7% more sales in Tallahassee than the previous year. The lack of homes on the market in combination with the increased demand for homes caused median Tallahassee home values to rise an estimated 3.7%.
At this time, fewer than average homes are for sale in the Tallahassee real estate market. Partially, the lack of inventory can be explained by homeowners who are waiting until after the holidays are over to put their homes on the market. However, homeowners who would like to sell quickly and for top-dollar should reconsider this approach as the holidays are the perfect time to obtain maximum exposure for their home.
While home values continue to rise, home sales have slowed down in Tallahassee’s northeast side. Homes located in 32309, have experienced a more than 50 percent decrease in sales this month. However, this drop off in sales comes on the heels of months of decreased inventory. In other words, the market may finally be leveling off.
If the most recent market update for 32309 tells us anything it’s that home sales are down because less homes are entering the market. Additionally, home values are continuing to rise. For sellers, this means that it is a great time to sell.