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southwood in tallahassee: The Devil Is In The Details In Southwood Home Sales Report - 08/12/11 11:54 AM
As home values continue to decline, we would expect to start seeing the number of home sales start to rise. Unfortunately, we are not yet seeing that with Southwood home sales, nor most of the rest of the Tallahassee real estate market. Currently, both unit sales and homevalues are still on the decline for much of Tallahassee.
Southwood in Tallahassee is one of the rare neighborhoods where new home sales make up a good percentage of the real estate activity. The Tallahassee MLS is currently showing about 1 in every 3 Southwood home sales are new construction, therefore we are … (0 comments)
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southwood in tallahassee: Tough Times For Southwood Home Sellers - 06/21/11 06:09 AM
If you own a home in Southwood and you want to get it sold, you are joining a growing list. Southwood has the most active new home construction market in Tallahassee, and that means if you want to sell a home in Southwood must compete with a builder who has its own full time sales force. The results don’t lie, as Southwood has one of the higher failure rates for existing home owners.
Currently in the Tallahassee real estate market, 42% of the homes listed for sale in the Tallahassee MLS over the past year succeeded in selling, while 58% failed … (0 comments)
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southwood in tallahassee: Homeowners Create Niche Market For Home Builder - 08/17/10 09:44 AM
I received a comment from reader “GF” yesterday who was encouraged about some signs of recovery in new home sales. I thought his comment was very revealing in regards to the “big picture” on housing supply and demand, and that we could all learn from his question. GF wrote:
It is encouraging to see some building activity in places like Southwood, but that’s the result of the Homebuyer Tax Credit. Now what? The question is, how bad will it get before it starts getting better?
In order to answer this question, the very first thing I did was look at … (0 comments)
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southwood in tallahassee: Tallahassee's Southwood Sees Increased Home Buyer Activity - 05/21/10 10:18 AM
Southwood home values continue to decline, but increased activity shows that buyers are starting to like what they see. While the current trend shows that monthly home sales are down nearly 40% from the peak of the market, Southwood is now up to averaging roughly seven arms length existing home sales per month.
When we compare the average number of monthly home sales in Southwood to its trend of home values, we see an interesting correlation between falling prices and increased buyer activity. Unfortunately, the buyer activity is not sufficient to reduce the existing inventory of homes in Southwood, so we … (0 comments)
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southwood in tallahassee: Southwood Home Sales Decline In Tallahassee - 02/19/10 08:45 AM
Southwood is one of the most active neighborhoods in Tallahassee, thus we are often asked to provide updates on Southwood home sales and values. For those readers who have followed the Tallahassee Real Estate Blog for any period of time, this report will not be surprising.
Home values continue to fall in Southwood, though unit sales have started to increase again. When we look at arms-length existing home sales in Southwood, we see 24% depreciation since the top of the market, and the current rate of home sales in Southwood is 44% lower than at the peak of the market.
… (2 comments)
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southwood in tallahassee: Expired Home Listings Adding To The Shadow Inventory - 11/27/09 08:16 AM
A friend of mine asked me the other day “what’s the real deal in Southwood?” I responded “The real deal?”
He said he heard all kinds of rumors about what is going on in Southwood, that taxes are up and values are down.
I told him that I would do a thorough analysis of the real estate market in Southwood, as I knew it would make great material for the Tallahassee Real Estate Blog.
So today we’ll take an analytical tour of the supply and demand of homes in the Southwood neighborhood.
This post is packed full of information, including … (4 comments)
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southwood in tallahassee: Signs Of Stability In Southwood Home Sales - 10/23/09 08:29 AM
The newest home sales numbers are showing that Southwood is finally showing signs of stabilization, mostly in the number of homes sold though average home price drops seem to have slowed as well If you are a regular reader of the Tallahassee Real Estate Blog, then you know that we have reported on the Southwood Subdivision in Tallahassee for several years now, and have not been seeing much good at all.
While it is way too early to that a bottom is in sight for Southwood, I would think that it will all depend on new construction levels over the next … (0 comments)
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southwood in tallahassee: Southwood Tallahassee: New Construction Cheaper Than Resales? - 05/20/09 07:35 AM
As I was helping a great Tallahassee real estate agent prepare an offer for a buyer on a home for sale in Southwood, I pulled a lot of data from the Tallahassee Board of REALTORS Multiple Listing Service (MLS) and summarized it for quick analysis. I figured the information would make for a quick “Southwood Real Estate Market Update.”
But I also received a comment on the Tallahassee Real Estate Blog asking the following:
Joe,
I’d love to see a break down between single family homes and condo (townhomes) for Southwood, since a lot of neighborhoods only have one or the … (0 comments)
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southwood in tallahassee: Home Sales Plummet In Tallahassee's Southwood Subdivision - 04/11/09 08:30 AM
The average number of homes selling in Southwood has dropped 74% in the past three years, and the the trend is continuing to head down. We are seeing pricing pressures across the board, and many people who have recently sold and closed on their homes in Southwood will look back with relief that they got out.
New construction prices are being offered well below what was available in the past, making the newer homes priced even lower than most resales. Prudent home owners are lowering their Southwood home prices as they realize smart home buyers will not pay as much for … (0 comments)
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southwood in tallahassee: Tallahassee Subdivision Report - June 2008 - 07/19/08 11:25 AM
Here’s a quick Tallahassee Subdivision update. I downloaded all the current listings in the Tallahassee Board of Realtors Multiple Listing Service (MLS) and tabulated the results by subdivision. The first column gives the name of the subdivision. The second column, titled “Homes” shows the number of homes on the market. The third and fourth column are the average price and the average price per square foot per home on the market. The fifth column shows how the average price per square foot compares to the Tallahassee average.
Follow this link to see All Tallahassee Subdivisions and Neighborhoods.
As a … (0 comments)
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southwood in tallahassee: The Southwood Subdivision In Tallahassee, Florida - 03/07/08 05:47 PM
Southwood is located on Capital Circle SE and will be one of the Tallahassee real estate market's largest developments when it is completed. Rather than write a comprehensive review of Southwood, I went to the MLS and to the tax records to take a quick peek at what is going on.
The first chart is the recent sales and homes available (Single-Family Detached Homes) in Southwood. We see a common theme here, the units that sold were priced lower than those on the market, and significantly lower than the units that failed to sell.
In the next chart, we look at the … (2 comments)
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Joe Manausa - Tallahassee Real Estate
Tallahassee,
FL
More about me…
Century 21 First Realty
Address: 1140 Capital Circle SE, Suite #12, Tallahassee, FL, 32301
Office Phone: (850) 386-2001
Cell Phone: (850) 508-1544
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