As part of our review of the most popular zip codes in the Tallahassee real estate market, today we'll examine 32308 house sales to determine current trends.
Combined with our recent reports for the 32309 and 32312 zip codes, the 32308 house sales report makes up the "big 3" of Northeast Tallahassee.
But unlike the previous 2 reports, a very different trend is occurring among houses for sale in the 32308 zip code.
32308 House Price Trend
In the real estate graph above, we see that buyers are getting a lot of house for the money in the 32308 zip code, where the average size of a 32308 house sold is near an all-time high.
Below, we see that the average price of a 32308 house sale remains near a 6 year low, so combining the two graphs we can conclude that values must look pretty good right now for housebuyers.
32308 House Value Trend
The graph below is the "smoking gun;" the different trend that is occurring in the 32308 zip code. Note how 32308 house values have remained fairly stable over the past year, while the rest of the Tallahassee real estate market has shown real estate depreciation?
Of course, this has more to do with the stream of distressed property sales than it does actual value changes, but it is still comforting to see the line flatten from its six year decline.
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