Every month I receive the Tallahassee real estate market data from a company that compiles all of the real estate sales that are recorded at the Leon County Court House. This is the most accurate set of data one can analyze to determine where the market has been.
One of the first things that I look at is the average price of real estate in Tallahassee.
Each past-year's information is January through December, while this year is just January. It is way too early in the year to make any conclusions, but it is nice seeing the average price move up. Much of the state is not seeing anything like this. I'll be curious to see what future Tallahassee real estate market reports show us.
It is important to note that average price movement does not necessarily imply appreciation or depreciation. Outside factors, such as interest rates, might allow people to purchase more home than they could in the past. It is possible to see average prices increase, while the market experiences depreciation. Of course, the opposite is true too.
One category that is not charted above, which I see as the "true" housing market, is the combination of condominiums, town houses, and single-family detached homes. This combination represents the bulk of what Tallahassee home buyers are purchasing.
It appears that the average for this combination of categories is up to $217,000 in the Tallahassee real estate market. Again, with 2008 data being so young, it will take a few months before we see where this is really going.
If you like this Article then please subscribe to my full RSS feed. You will be able to stay informed about the happenings in the Tallahassee Real Estate Market. You can also subscribe by Email.
Joe Manausa is the Broker and Co-Owner of Century 21 First Realty. He can be reached by clicking on the comments button below, via e-mail through his company website at http://www.manausa.com/, or by calling (850) 386-2001.
Comments(51)