Southwood is located on Capital Circle SE and will be one of the Tallahassee real estate market's largest developments when it is completed. Rather than write a comprehensive review of Southwood, I went to the MLS and to the tax records to take a quick peek at what is going on.
The first chart is the recent sales and homes available (Single-Family Detached Homes) in Southwood. We see a common theme here, the units that sold were priced lower than those on the market, and significantly lower than the units that failed to sell.
In the next chart, we look at the same information, but this time for "attached" housing. It would appear that the owners of these townhomes have their pricing more competitive than the detached home owners. Homes on the market are being offered at 95% of the price (per square foot) of the homes sold over the past twelve months.
Finally, taking a quick look in the tax data base, we can see single-family detached home sales have dropped back down to "pre-boom" levels of 30-40 units per month. It will be interesting seeing the affects of the market and the "new management" over the next few years in Southwood.
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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.
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