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Does Pent-Up Supply Exist In This Market?

By
Real Estate Agent with Joe Manausa Real Estate 8508880888

Goose Creek is one of many neighborhoods that sprung-up in the past 20 years on the east side of the Tallahassee real estate market. It features 3 and 4 bedroom houses in a zip code (32317) that is growing in popularity.

There are 169 houses built from 2002 through 2007 in Goose Creek, so you can expect this neighborhood to be a candidate for pent-up supply due to the combination of a slowed market intersecting normal family move-cycles. Roughly 150 families moved into Goose Creek in a 3 year period of time, thus we anticipate that now is the "normal" time to move for most of them.

In this report, we will look at average house prices, average house values, and average house sizes in Goose Creek, as well as show current listings in the Tallahassee MLS and all closed house sales going back to 2003.

Goose Creek house Prices

For the 3 real estate graphs found in this report, you will find the number of closed house sales for each year (red columns, measured on the left vertical axis), and an important real estate statistic shown in blue (measured on the right vertical axis. It is important to note that while the graphs and table will update on a regular basis, the analysis of the information that we provide is current through the first few days of April 2015.

Average house prices dipped slightly in 2014 versus 2013, but have shot up 13% thus far in 2015. The average recorded sales price is $241,300 for Goose Creek thus far in 2015, which is only 13% lower than house prices at the peak of the market in 2006.

Goose Creek Home Prices

house sales activity this year appears to be consistent with what we have seen over the past nine years, but still well below the levels recorded during the most active years from 2002 through 2006. Thus far in 2015, there have been 3 closed house sales in Goose Creek.

Goose Creek House Values

Average house values in Goose Creek rose nearly 7% in 2014, and are up an additional 8% in 2015, the third year in a row to report rising house values since the low set back in 2012.

Goose Creek Home Values

Through the first week in April, the average value of a house sold in Goose Creek has been $123 per square foot. This is up 23% over the bottom reached in 2012, but still down about 16% from the market high set back in 2006. This means that many houseowners who have purchased or refinanced in the past 10 years are likely at zero or negative equity situations.

House Sizes

The average house size sold in Goose Creek typically falls in a range of 1,600 to 2,000 square feet, and this year buyers have been selecting the larger houses. The 3 sales thus far in 2015 have averaged 1,960 square feet.

Goose Creek Home Sizes

Houses For Sale In Goose Creek

The following list of houses are the most recent listings in Goose Creek. A red box will appear when no houses are listed for sale in the Tallahassee MLS, but check back again on a regular basis as this page updates twice daily.

Houses for sale in Goose Creek

Goose Creek House Sales

The following list shows house sales going back to 2002, the first year of house sales in Goose Creek.

Goose Creek Home Sales

I hope you enjoyed our April 2015 update on house sales in Goose Creek, please feel free to drop me a note if you have questions not covered in this report.

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Joe Manausa Real Estate
1934 Dellwood Drive
Tallahassee, FL 32303
(850) 366-8917

Comments(2)

Frank Rubi
Frank Rubi Real Estate, LLC - Metairie, LA
FrankRubiRealEstate.com

Joe with home values rising in 2014 and thus far in 2015, I feel there is a pent up demand. In my market and your Goose Creek Meadow home are selling. Just not enough inventory. 

Apr 29, 2015 11:57 PM
Joe Manausa - Tallahassee, FL
Joe Manausa Real Estate - Tallahassee, FL
Tallahassee Real Estate

Thank you for stopping by and leaving a comment, Frank!

May 20, 2021 06:27 AM