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The State of the Tallahassee Real Estate Market
Many people believe that understanding real estate market trends is too technical or difficult to comprehend, but it’s much easier than you think. All you need to do to anticipate real estate market movements is study the short and long term trends in housing inventory. Alternatively, you can read my market recap, below.
There are four rules about the housing industry that are helpful in discerning market trends:
A “good” real estate market simply means that you can sell your home when you want to move. A “balanced” market occurs when housing inventory levels are in the 4 to 7 months of supply range. A “sellers” market occurs when inventory levels drop below 4 months of supply. A “buyers” market occurs when the inventory exceeds 7 months of supply. Tallahassee Real Estate Market TrendsIn 2008, I predicted that the long term trend in Tallahassee would show that housing inventory would decrease, causing prices to rise. This is exactly what’s happening right now. With only a 3 months’ supply of homes for sale in some areas in town, homes are appreciating at a rapid pace. This means homes prices are increasing quickly, so if you purchased a house a year ago, it could already ... more

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