Tallahassee Neighborhoods And Non-Arms Length Sales

The time has come again to look at Tallahassee neighborhoods to see what is happening. We like to do this every month or so in order to identify the hottest selling subdivisions in Tallahassee, as well as see if any trends are occurring.

We compiled all of the existing home sales in Tallahassee (meaning no new home sales, only resales) and separated them by whether or not they were “arms length” sales or not. As a reminder, arms length sales are home transfers which are freely entered into by parties who don’t have a special relationship or control over one another.

Arms Length Home Sales Are Fair Market Sales

An arm’s length sale is indicated by the fairness of price, conditions, and other terms of the agreement. For example, an agreement between relatives or sales involving a deal on the side may not be considered an arm’s length sale because they may not reflect the true value of the deal.

In the Tallahassee Subdivision Report below, we have displayed the top selling neighborhoods in Tallahassee (based upon total number of existing home sales) and have reported the following information:

• Units (AL) – Total number of homes sold (Arms Length)
• Price (AL) – Average Price of homes sold (Arms Length)
• Units (NAL)- Total number of homes sold (Not Arms Length)
• Price (NAL)- Average Price of homes sold (Not Arms Length)
• Units (Total)- Total number of homes sold (Combined)
• Price (Total)- Average Price of homes sold (Combined)
• NAL% – The percentage of homes sold that were Not Arms Length
• NAL/AL% – The average price of a Not Arms Length sale compared to an Arms Length Sale

It is important to note that not all “Not Arms Length” sales are distressed sales. Some of these could be property transfers from parents to child, wife to husband, etc. For example, if you look at the 6th line down in the table below, Summerbrooke shows 1 Not Arms Length sale for $100. This was most likely a transfer between family members.

Tallahassee Subdivision Report [click to see how each Tallahassee subdivision performed…]