Some homes in Tallahassee neighborhoods sitting on the market for longer periods

• Area realtors say the end of July and beginning of August are slow periods for the housing market in our neighborhoods.
• Local real estate experts say homes priced higher are sitting on the market longer.
• Watch the video to find out which neighborhoods are hot right now.

BROADCAST TRANSCRIPT:

In Florida, homes are staying on the market longer than they were in months past.

While that may be the trend statewide, I'm investigating what those numbers look like in our neighborhoods.

Thomas Dickens said the home selling process is… "A little bit nerve racking," Dickens said.

He is selling his home in the Southwood neighborhood on Stanhope Drive.

He is doing so while data from the Florida Association of Realtors shows homes are staying on the market a bit longer.

His realtor, Patty Wilson, said this is common for this time of year.

"Typically, the first week of August, it slows down," Wilson said. "That's when I plan my vacation."

She said kids being out of school coupled with inflation are what is keeping those homes on the market.

Wilson said in our neighborhoods, some areas are seeing quicker sales.

"Southwood, two homes similar to the one we are standing in sold cash within a couple weeks."

To see what's the trend in my neighborhood, I went to Keller Williams Realtor Kelly Vinson.

She said homes are selling fast here, but only at certain price points.

"The really high prices, like 750 or above, is the only place we're super slow," Vinson said.

Wilson agreed.

"If your starting point in Killearn is $450k or $500k, it reduces the number of buyers able to buy," Wilson said.

Their advice to sellers:

"It's not always pricing exactly where you think it is, it's pricing a little lower to get all of those multiple offers," Vinson said.

"If it needs an AC or needs a water heater, needs a roof, don't delay. Time is money," Wilson said.

Dickens said the advice of his realtor Wilson has been helpful.

"It makes the process easier, but there's always going to be anxiety with selling your home," Dickens said.

Experts with the Mortgage Bankers Association say they expect 30-year mortgage rates could drop to as low as 6% in 2025.