Slower sales are no longer limited to a few unusual properties.
They have become common across the Tallahassee area.
The graph below ranks local counties by the share of existing-home sales that took more than 60 days on the market.
Leon County, the largest and most liquid county in the Tallahassee MSA, still had half of sales take more than 60 days.
Several surrounding counties showed even higher shares.
That matters because many people talk about “the Tallahassee market” as if it were a single market. It is not.
County, property type, price range, condition, location, and buyer pool all affect the time to sell.
For sellers, this means a two-month listing is not automatically an outlier. But it is also not something to ignore. The first few weeks still matter because active buyers quickly learn which homes are priced correctly.
For buyers, a home that has been on the market for more than 60 days may present an opportunity. But it should be studied carefully. Some homes sit on the market because they are overpriced. Others sit because they have condition issues, unusual layouts, insurance concerns, or a smaller buyer pool.
Longer market time creates information.
Use it wisely.
Read the full article here:
Real Estate Market Time: Tallahassee Homes Take Longer
Want to know whether 60 days on the market is normal in your North Florida area? Contact the Joe Manausa Team at Xcellence Realty for a county-level market time review.
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