Hello All!
With all the talk of new construction inventory I thought it may be interesting to look at the levels here in Tallahassee. In all of Tallahassee there are currently 285 new construction detached single family new construction (built 2007 or 2008) homes available through our local MLS. There are 33 pendings and 19 properties have sold since January 1, 2008. Obviously, it is going to take some time for the market to absorb this much product. The good news is that for buyers it's a wonderful time to take a hard look at new construction as an option! There are builders who are willing to add extras, cut prices or perhaps build that dream home from scratch at a reduced price! With the slow-down in new construction starts and banks unwilling to provide spec loans, it's only a matter of time until the market stabalizes and prices creep back up. Until then, happy buying!
Kim Rivers
The Rivers Team
Keller Williams Town & Country Realty
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