Betton House Values Remain Stable

By
Real Estate Agent with Joe Manausa Real Estate 8508880888
https://activerain.com/droplet/4GHJ

If you believe location matters in real estate, then the large group of people who want to live inside of I-10 and along the Thomasville Road corridor will likely cherish the Betton neighborhoods.

Other than the obvious excellent location, there are many other reasons to enjoy this area that has developed over the past 75 years. There is convenient access to downtown Tallahasssee, 4 city parks, Winthrop, Harriman, Chittenden (Bellamy), and McCord, ultra mature landscaping that makes each house rival those parks, and the growing social gatherings that are springing up in mid-town Tallahassee.

This report examines the popular Betton subdivisions (Betton Hills, Betton Hill, Betton Woods, Betton Estates, Betton Place and Betton Oaks) and lumps them together for the purpose of examining long-term house sales trends. These trends are insightful and highly valuable if you are planning on selling a house in Betton or buying one there too. We have compiled average house prices, house values, and house size trends in Betton, and we include all current listings in the Tallahassee MLS and all closed house sales going back to 1991.

For each of the 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 the narrative contained below is for sales through December for all previous years, but through June in 2015. The graphs and the closed sales table will be continuously updated into the future (meaning bookmark this page if you always want to know the current status of houses in the Betton neighborhoods).

Betton House Prices

Average house prices have been rising rapidly in the Betton neighborhoods for the past three years, and our report will show why. They rose 16% in 2014 and are up nearly 5% midway through 2015.

Tallahassee Betton House Prices

House sales activity this year is consistent with the rate of sales that we have recorded since the housing market collapse in 2007. For 7 consecutive years, the Betton neighborhoods have seen the number of closed house sales rise, but 2015 will need to hustle to make it 8 years and a continuation of the streak.

Betton House Values

Unlike house prices, average house values in Betton have been fairly stable over the past few years. Remember, prices are what buyers are spending, values are what sellers are getting. To understand the relationship between price and value, we'll have to take a look at "what" has been selling.

Betton House Values

Through June, the average value of a house sold in the Betton neighborhoods has been roughly $124 per square foot. This is slightly (less than 1%) lower than last year, which was also slightly lower than the year prior.

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Betton House Sizes

The average house size sold in Betton typically falls in a range of 2,000 to 2,300 square feet, but the past 18 months have seen buyers grabbing the bigger houses.

Size of house in Betton

In fact, low mortgage interest rates have propelled Betton house buyers to purchase the largest houses they can find, and I believe that is why average house prices have been soaring, all the while house values have remained fairly stable. Expect to see the trend reverse soon (meaning we'll be running out of the bigger houses), and you can expect to see Betton house sizes decline (and thus so too will house prices), while house values will resume rising.

Houses For Sale In Betton

The following map and list of houses are the most recent listings in the Betton communities.

Tallahassee MAP

Betton House Sales

The following list shows house sales in the Betton neighborhoods going back to 1991.

Betton Tallahassee House Sales

I hope you enjoyed our July 2015 update on house sales in the Betton area, 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

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Joe Manausa Thank you for sharing this local real estate market information it is most helpful for buyers and sellers alike!

Jul 29, 2015 10:37 PM #1
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