Yesterday I reported on affordable housing in Tallahassee, so today I will cover the other end of the market. For this research, I included all areas of the Tallahassee Board of Realtors Multiple Listing Service (Leon, Jefferson, Gadsden, Franklin and Wakulla Counties).
The upper end of the Tallahassee Real Estate Market has definitely seen better times. The inventory levels are approaching three years at the highest end of the market. These numbers are certainly skewed by the fact that coastal properties are included in the totals. Homes priced from $500,000 to $600,000 have roughly 21 months of supply. Supply jumps when we look at the $600,000 - $700,000 price range to approximately 31 months, while the "over $700,000" part of the market is nearly 34 months of supply.
Price Range |
For Sale |
Sold |
Months Supply |
| $500,000 - $599,999 | 134 |
78 |
20.6 |
| $600,000 - $699,999 | 99 |
38 |
31.3 |
| > $700,000 | 188 |
67 |
33.7 |
| Grand Total | 421 |
183 |
27.6 |
In order to get a feel for different areas, I broke these numbers down by Subdivision. The following table shows activity in the most active subdivisions of homes priced over $500,000. The first thing that caught my eye was that the coastal numbers are the ones that are having the big affect on the overall data. Some locations in Leon County are actually doing very well (Buckhead has five months supply of homes and is relatively active). Historically, we expect to see nearly a year's worth of supply of homes priced in the upper part of the Tallahassee Real Estate Market.
Subdivision Name |
For Sale |
Sold |
Months Supply |
Grand Total |
421 |
183 |
27.6 |
No Subdivision |
65 |
12 |
65.0 |
Golden Eagle |
36 |
25 |
17.3 |
Southwood |
20 |
17 |
14.1 |
Buckhead |
5 |
12 |
5.0 |
Betton Hills |
7 |
5 |
16.8 |
Killearn Estates |
6 |
5 |
14.4 |
Summerbrooke |
4 |
7 |
6.9 |
Oyster Bay Estates |
9 |
1 |
108.0 |
Shell Point Beach |
8 |
1 |
96.0 |
The Hermitage |
3 |
4 |
9.0 |
The Tennyson |
4 |
2 |
24.0 |
Baker Place |
2 |
4 |
6.0 |
Bobbin Brook |
1 |
5 |
2.4 |
Holiday Beach |
4 |
1 |
48.0 |
Tarpon Shores |
4 |
1 |
48.0 |
Vieux Carre |
2 |
3 |
8.0 |
Bull Run |
1 |
4 |
3.0 |
Ox Bottom |
3 |
1 |
36.0 |
Highgrove |
2 |
2 |
12.0 |
Pilckem Ridge |
2 |
2 |
12.0 |
Pirates Landing |
2 |
2 |
12.0 |
Rosehill |
2 |
2 |
12.0 |
Tallahassee Center |
2 |
2 |
12.0 |
Deerwood At Ox Bottom Manor |
1 |
3 |
4.0 |
Millstone Farms |
1 |
3 |
4.0 |
White Beach |
2 |
1 |
24.0 |
Bobbin Trace |
1 |
1 |
12.0 |
Meridian Oaks |
1 |
2 |
6.0 |
Moore Pond |
1 |
2 |
6.0 |
Pelican Bay Townhouse Resort |
1 |
2 |
6.0 |
1300 Live Oak Plantation |
1 |
1 |
12.0 |
Coventry Banks |
1 |
1 |
12.0 |
Hawks Landing |
1 |
1 |
12.0 |
Luna Plantation |
1 |
1 |
12.0 |
Ox Bow Estates |
1 |
1 |
12.0 |
Pickett'S Landing |
1 |
1 |
12.0 |
The Resort At Shell Point |
1 |
1 |
12.0 |
Timberlane |
1 |
1 |
12.0 |
Turkey Roost |
1 |
1 |
12.0 |
Valley View Estates |
1 |
1 |
12.0 |
The Residences At St James Bay |
10 |
0 |
0.0 |
Paradise Shores |
7 |
0 |
0.0 |
Panacea Shores |
6 |
0 |
0.0 |
Peninsular Point |
6 |
0 |
0.0 |
Shell Point Harbor |
6 |
0 |
0.0 |
The Club At Mexico Beach |
6 |
0 |
0.0 |
Alligator Point |
5 |
0 |
0.0 |
George'S Lighthouse Pointe |
4 |
0 |
0.0 |
Penn Point |
4 |
0 |
0.0 |
Preakness Point |
4 |
0 |
0.0 |
Bungalow Bay Condo/ Hotel |
3 |
0 |
0.0 |
Snug Harbour |
2 |
0 |
0.0 |
St. James Bay |
3 |
0 |
0.0 |
The Reserve At Golden Eagle |
3 |
0 |
0.0 |
Tradewinds |
3 |
0 |
0.0 |
Vason Lane |
3 |
0 |
0.0 |
Alford Property Unrec |
2 |
0 |
0.0 |
Alligator Harbor |
2 |
0 |
0.0 |
Alligator Point Townhomes |
2 |
0 |
0.0 |
Barefoot Cottages |
2 |
0 |
0.0 |
Bay North |
2 |
0 |
0.0 |
Breakaway Acres |
2 |
0 |
0.0 |
Chemonie Crossing |
2 |
0 |
0.0 |
Dark Island |
2 |
0 |
0.0 |
Dog Island Gulf Beaches |
2 |
0 |
0.0 |
Fiddlers Cove |
2 |
0 |
0.0 |
Keaton Beach |
2 |
0 |
0.0 |
Killearn Lakes |
0 |
2 |
0.0 |
Lake Carolyn Estates Unrec |
0 |
0 |
0.0 |
Live Oak Plantation |
2 |
0 |
0.0 |
Magnolia Hills |
2 |
0 |
0.0 |
Metropolitan Properties |
2 |
0 |
0.0 |
Millstone Plantation |
0 |
2 |
0.0 |
Monterey Pines |
1 |
0 |
0.0 |
Oakfair Farms Unrec |
2 |
0 |
0.0 |
Ochlocknee River Estate |
2 |
0 |
0.0 |
One Charleston Place |
0 |
2 |
0.0 |
Paradise Gardens |
2 |
0 |
0.0 |
Pine Tip Hills |
2 |
0 |
0.0 |
Plantation Heights |
2 |
0 |
0.0 |
Standing Pines |
2 |
0 |
0.0 |
Summercamp |
2 |
0 |
0.0 |
Talquin |
2 |
0 |
0.0 |
The Moorings |
2 |
0 |
0.0 |
Water Side Village |
2 |
0 |
0.0 |
Whitfield Plantation |
0 |
2 |
0.0 |
Bald Point Estates |
1 |
0 |
0.0 |
Barrier Dunes |
0 |
1 |
0.0 |
Bay Palm Village |
1 |
0 |
0.0 |
Bellamy Plantation Phase Ii |
1 |
0 |
0.0 |
Betton Estates |
0 |
1 |
0.0 |
Betton Woods |
1 |
0 |
0.0 |
Breton Ridge |
1 |
0 |
0.0 |
Buck Lake Estates |
0 |
1 |
0.0 |
Calypso Towers And Resort |
1 |
0 |
0.0 |
Cape San Blas Shores |
1 |
0 |
0.0 |
Carriage Road Unrec |
1 |
0 |
0.0 |
Casa Del Mar |
0 |
1 |
0.0 |
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