Exciting news for the Tallahassee real estate market. The numbers have been crunched and things are looking up for Tallahassee home sellers.
The second quarter sales totals are in and sales of single family homes are up 12.9% from this time last year in Tallahassee. Additionally, the median time before a property enters into a Contract is down 13.8% and is now averaging 56 Days. Another fact worth mentioning is that the absorption rate is down 12.1%, meaning that there are less homes on the market, supply is tight, and market competition is strong.
In short:
- Sales are up over this time last year
- The average time a home on the market is down (shorter times on market) from this time last year
- There are are less homes and more buyers on the market now than this time last year