Tallahassee, FL housing market

In Tallahassee, sellers are asking nearly forty thousand dollars more than the typical home is actually worth. That gap is the real story this month, and it will decide whether your sale moves quickly or drags into fall. The median list price right now is about three hundred twenty-five thousand dollars. The typical home value is roughly two hundred eighty-four thousand dollars, up only about 1.4 percent over the past year. So the average seller is pricing well above where values actually sit, and buyers have the time to notice. There are about 995 homes for sale, and only about 312 new listings came on last month, so supply is not shrinking. The typical home is taking 54 days to sell, nearly two months on the market. But here is the catch. Values are still rising, just barely. And only about 16 percent of listings have cut their price, which means most sellers have not adjusted yet. If you are selling in Tallahassee, price at or just under what comparable homes are actually worth, not where you wish the market was. Overprice, and you join the crowd sitting for two months before cutting. Price right, and you can still catch a market that is quietly gaining value. To see where your home actually sits in this market, get a free home value estimate at Home Value Pros dot com.