Tallahassee Real Estate - High End Home Market

By
Real Estate Agent with Joe Manausa Real Estate 8508880888

High End Homes In Tallahassee

Yesterday I reported on affordable housing in Tallahassee, so today I will cover the other end of the market. For this research, I included all areas of the Tallahassee Board of Realtors Multiple Listing Service (Leon, Jefferson, Gadsden, Franklin and Wakulla Counties).

The upper end of the Tallahassee Real Estate Market has definitely seen better times. The inventory levels are approaching three years at the highest end of the market. These numbers are certainly skewed by the fact that coastal properties are included in the totals. Homes priced from $500,000 to $600,000 have roughly 21 months of supply. Supply jumps when we look at the $600,000 - $700,000 price range to approximately 31 months, while the "over $700,000" part of the market is nearly 34 months of supply.

Price Range

For Sale

Sold

Months Supply

$500,000 - $599,999

134

78

20.6

$600,000 - $699,999

99

38

31.3

> $700,000

188

67

33.7

Grand Total

421

183

27.6

In order to get a feel for different areas, I broke these numbers down by Subdivision. The following table shows activity in the most active subdivisions of homes priced over $500,000. The first thing that caught my eye was that the coastal numbers are the ones that are having the big affect on the overall data. Some locations in Leon County are actually doing very well (Buckhead has five months supply of homes and is relatively active). Historically, we expect to see nearly a year's worth of supply of homes priced in the upper part of the Tallahassee Real Estate Market.

Subdivision Name

For Sale

Sold

Months Supply

Grand Total

421

183

27.6

No Subdivision

65

12

65.0

Golden Eagle

36

25

17.3

Southwood

20

17

14.1

Buckhead

5

12

5.0

Betton Hills

7

5

16.8

Killearn Estates

6

5

14.4

Summerbrooke

4

7

6.9

Oyster Bay Estates

9

1

108.0

Shell Point Beach

8

1

96.0

The Hermitage

3

4

9.0

The Tennyson

4

2

24.0

Baker Place

2

4

6.0

Bobbin Brook

1

5

2.4

Holiday Beach

4

1

48.0

Tarpon Shores

4

1

48.0

Vieux Carre

2

3

8.0

Bull Run

1

4

3.0

Ox Bottom

3

1

36.0

Highgrove

2

2

12.0

Pilckem Ridge

2

2

12.0

Pirates Landing

2

2

12.0

Rosehill

2

2

12.0

Tallahassee Center

2

2

12.0

Deerwood At Ox Bottom Manor

1

3

4.0

Millstone Farms

1

3

4.0

White Beach

2

1

24.0

Bobbin Trace

1

1

12.0

Meridian Oaks

1

2

6.0

Moore Pond

1

2

6.0

Pelican Bay Townhouse Resort

1

2

6.0

1300 Live Oak Plantation

1

1

12.0

Coventry Banks

1

1

12.0

Hawks Landing

1

1

12.0

Luna Plantation

1

1

12.0

Ox Bow Estates

1

1

12.0

Pickett'S Landing

1

1

12.0

The Resort At Shell Point

1

1

12.0

Timberlane

1

1

12.0

Turkey Roost

1

1

12.0

Valley View Estates

1

1

12.0

The Residences At St James Bay

10

0

0.0

Paradise Shores

7

0

0.0

Panacea Shores

6

0

0.0

Peninsular Point

6

0

0.0

Shell Point Harbor

6

0

0.0

The Club At Mexico Beach

6

0

0.0

Alligator Point

5

0

0.0

George'S Lighthouse Pointe

4

0

0.0

Penn Point

4

0

0.0

Preakness Point

4

0

0.0

Bungalow Bay Condo/ Hotel

3

0

0.0

Snug Harbour

2

0

0.0

St. James Bay

3

0

0.0

The Reserve At Golden Eagle

3

0

0.0

Tradewinds

3

0

0.0

Vason Lane

3

0

0.0

Alford Property Unrec

2

0

0.0

Alligator Harbor

2

0

0.0

Alligator Point Townhomes

2

0

0.0

Barefoot Cottages

2

0

0.0

Bay North

2

0

0.0

Breakaway Acres

2

0

0.0

Chemonie Crossing

2

0

0.0

Dark Island

2

0

0.0

Dog Island Gulf Beaches

2

0

0.0

Fiddlers Cove

2

0

0.0

Keaton Beach

2

0

0.0

Killearn Lakes

0

2

0.0

Lake Carolyn Estates Unrec

0

0

0.0

Live Oak Plantation

2

0

0.0

Magnolia Hills

2

0

0.0

Metropolitan Properties

2

0

0.0

Millstone Plantation

0

2

0.0

Monterey Pines

1

0

0.0

Oakfair Farms Unrec

2

0

0.0

Ochlocknee River Estate

2

0

0.0

One Charleston Place

0

2

0.0

Paradise Gardens

2

0

0.0

Pine Tip Hills

2

0

0.0

Plantation Heights

2

0

0.0

Standing Pines

2

0

0.0

Summercamp

2

0

0.0

Talquin

2

0

0.0

The Moorings

2

0

0.0

Water Side Village

2

0

0.0

Whitfield Plantation

0

2

0.0

Bald Point Estates

1

0

0.0

Barrier Dunes

0

1

0.0

Bay Palm Village

1

0

0.0

Bellamy Plantation Phase Ii

1

0

0.0

Betton Estates

0

1

0.0

Betton Woods

1

0

0.0

Breton Ridge

1

0

0.0

Buck Lake Estates

0

1

0.0

Calypso Towers And Resort

1

0

0.0

Cape San Blas Shores

1

0

0.0

Carriage Road Unrec

1

0

0.0

Casa Del Mar

0

1

0.0

close

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Anonymous
MOJO

I think in a down market, like we have right now. Real Estate agents, especially Joe, can provide many great services and insights to seller, like pricing it right

I noticed many For Sale by Owner homes, still priced too high

Oct 24, 2007 07:56 AM #1
Rainmaker
1,159,842
Joe Manausa
Joe Manausa Real Estate - Tallahassee, FL
Tallahassee Real Estate
Thanks MOJO. That is one of the things that we do. We also can bring the world to the Tallahassee Real Estate Market through our global networks. In this market, Sellers cannot afford to miss one possible buyer.
Oct 24, 2007 08:48 AM #2
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Rainmaker
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Joe Manausa

Tallahassee Real Estate
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