Though the pace for house sales in Summerbrooke has slowed, house values and house prices are still enjoying a nice recovery.
As one of the top selling neighborhoods in Tallahassee (along with Southwood, Killearn Lakes Plantation, Killearn Estates, and Bull Run), we keep a close eye on Summerbrooke to gain insight on changing trends for the entire Tallahassee real estate market.
Thus far in 2013, there have been 39 houses sold in Summerbrooke, with an average sales price of $354,000 and a value of $123 per square foot. That means you are getting a 2,884 square foot house for just over $350K in a highly desirable NE Tallahassee neighborhood.
Currently, there are 20 houses for sale in Summerbrooke, and those that are priced well and marketed well are selling fast.
Rising House Values
After hitting a market low of 2 house sales per month back in September of 2012, Summerbrooke has seen sales rebound as high as four house sales per month, and the current rate of sales is just over 3 per month.
House values continue to rise after hitting bottom in September of last year. Distressed properties sales have declined greatly, allowing arms length houses to gain more traction in the market.
House Prices Recovering
House prices continue to recover from a bottom found in January of this year. Currently the average arms length sales price of a home in Summerbrooke is around $365,000, while the distressed houses have sold for an average of $306,000.
With the falling number of distressed properties available in Summerbrooke, their impact on the "average" will be greatly reduced, likely allowing prices to go higher in 2014.
Houses For Sale
The following map shows the Summerbrooke houses that are on the market today. If you want more information on a particular home, simply click on the marker on the map and it will open up the listing to show you up to 25 pictures of each house.
Recent House Sales In Summerbrooke
The following is a list of all houses sold in Summerbrooke (recorded in the Tallahassee MLS).
I hope you were able to learn something from this Summerbrooke Home Sales Report, please drop me a note if you have any other questions or concerns that I can help you with.