I was reviewing 32311 house sales this morning for a client who wants to sell a house. She asked if I would prepare a zip code report like the recent ones for 32308, 32309, and 32312. Additionally, she asked me what she should expect in terms of value and time to sell.
The good news is that there are plenty of 32311 house sales happening, so we have the real estate liquidity required to give her an accurate assessment of her house value. Currently, there are 251 houses for sale in the 32311 zip code.
Additionally, due to the nature of the current market trends, we told her to expect a contract within the first two weeks (more on that later).
But house value trends are another story altogether.
The real estate graph above shows that 32311 house sales are exhibiting the same size trends as the rest of the Tallahassee real estate market. Buyers are choosing larger houses today than they have in the past.
32311 House Prices
The average 32311 house price has stayed fairly consistent since 2008, hovering very close to $200,000.
32311 House Values
house values continue to slide in the 32311 zip code, and the primary reason relates to supply and demand. Even as demand for houses in Tallahassee was falling over the past five years, there has been no shortage of new construction of houses in this Southeast Tallahassee area.
Non Arms Length 32311 House Sales
This next graph is the one that should cause you concern if you need to sell a house in the 32311 zip code in the next few years. As you can see, more than a third of all 32311 house sales have been distressed sales (short sales, foreclosures, etc.) this year, and the trend is rising.
So, why did I tell my homeowner that she should plan to sell her 32311 house in two weeks or sooner? The answer is painful, but simple. There are enough buyers registered on our site looking and buying houses in the 32311 zip code to know that she can sell it right away.
But looking at the graph above, we can see that demand in the 32311 is at at 10+ year low and 32311 house values are falling. The longer she takes, the less she should expect to yield upon a sale. It's in her best interest to market the house aggressively and to sell it fast.
»»» Recent 32311 House Sales
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