Tallahassee has quite a few golf courses and most of them have neighborhoods that are built around and through the golf courses. In the northeast quadrant of Tallahassee, you can find the Summerbrooke neighborhood which is also built around a locally developed golf course.
The Tallahassee Real Estate Blog often visits Summerbrooke in order to keep our readers informed of the activity in the housing market. As we have seen (and reported) in the past, Summerbrooke home sales continue to be affected by the market as much as any other neighborhood in Tallahassee.
Summerbrooke Home Sales Stabilizing At 2 Per Month
When we measure the trend of recent home sales in Summerbrooke, we can see the market has plummeted 63% from the peak when more than 6 resale homes per month were selling. It appears as if the Summerbrooke housing market has stabilized at about 2 homes selling monthly.
The average home price in Summerbrooke has dropped 20% since the peak of the market. The red shaded area in the real estate graph above shows how rapidly average home prices rose, and how they have come back about 1/3rd of the way.
Home Values Continue Dropping In Summerbrooke
When we look at the average price per square foot of homes sold in Summerbrooke, we get an overall feel for how well home values have held. Valuations appear to have fallen roughly 16% since the peak of the market in 2006.
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Nice Presentation - Great Chart
Good useful information for your local market. You prove my point that all Real Estate is Local and Your REALTOR should be too...