While we anxiously await October's numbers it is a good time to remember that September was our third consecutive month of increased sales over the same month last year. Will this continue in October?
We can clearly see that new construction sales continue to lag previous years' sales. The Tallahassee real estate market still has a good sized inventory of new construction homes to choose from at prices per square foot half of what was being sold in 2005-6.
It may be second quarter 2010 before we see numbers exceeding the previous year.
As mentioned, resales continue to exceed previous year results, providing some encouragement that we are beginning to see a stabilization of the Tallahassee area real estate market. Nothing to get excited about to be sure, but progress all the same.
So, we continue to have a market that is flat or still slightly declining in valuations, but sales are returning. The inventory still drives Tallahassee into a buyer's market but indications that we may be reaching some sort of equilibrium are encouraging. As long as interest rates remain near historic lows, this is still one of the best markets in which to buy in generations.
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Michael Lee
Tallahassee Realtor
Homes in Tallahassee
Piney Z Specialist
www.tallahasseerealestatetoday.com
COMING SOON! CORTONA HILLS
Realtor for Leon and Wakulla County. Subdivision expertise includes Piney Z, Myers Park, Buck Lake, Southwood, Evening Rose and Cortona Hills. Tallahassee and Wakulla County residential and commerci
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