If you have a home for sale in Tallahassee, then you might be curious about the differing performance levels of different areas in Tallahassee. Some areas of town are doing better than others, and knowing this information can help guide you on your asking price. If your area is getting more popular, you might consider working the top-end of your value range, while the opposite is true if you are in a less-popular area.
The northeast quadrant of the Tallahassee real estate market is growing in market share, while the northwest and southwest quadrants are dropping. The southeast has pretty much remained the same for the past two years. The following graph shows each area over time as a percentage of the market.
The key to understanding what this real estate graph is telling us (and what it is not telling us) is to remember that these are trends (one year averages) and they are the measurement of market share of each quadrant. For example, Northeast Tallahassee home sales were about 42% of the total market in March 2008, but now they represent 51% of the total market.
I think this trend is really showing the cooling off of growth areas in Tallahassee, as opposed to the strengthening of the Northeast. Historically the Northeast Tallahassee housing market has been hovering around the 50% mark, so the current number appears more of a “return to normal” than anything else. We’ll keep an eye on this for further developments.