Downtown Tallahassee Condo Market Update

Posted by Joe Manausa on Tuesday, October 20th, 2009 at 9:16am.

The downtown Tallahassee condominium market exploded with the housing market boom in 2004, and many people have asked me how that part of the Tallahassee real estate market is doing. I just received this question from reader "Joyce" who asked:

Joe,

I would like to see condo market [high rise luxury, etc] in zip 32301, prices, past selling prices, etc.

Thanks. Joyce

After knocking out the Tallahassee Real Estate Newsletter yesterday, I have a limited amount of time for today's blog, so I will give a brief overview of what has occurred in the downtown Tallahassee market.

Downtown Tallahassee Condo Sales Still Relatively Strong

The first thing that I discovered when viewing the downtown Tallahassee condos sale was that it was performing differently than the rest of the Tallahassee housing market. While it did see a boom, and then a great fall-off from the boom, we have seen the downtown market return to levels that were "normal" prior to 2004.

In the real estate graph below, new condo unit sales are shown in blue, while existing condo unit sales are shown in red, for the 32301 zip code in downtown Tallahassee. The one year trend shows that we are averaging about 7 units sold per month, half new and the other half existing units.

Condo and townhouse sales in downtown Tallahassee Florida 32301

Condo Prices Recover To An Affordable Level

Many people who are interested in condominiums and townhouses in downtown Tallahassee will be happy to know that the average price for one of these units is around $180,000. Some units sell for upwards of $1M, or as low as $125K, but there are plenty that can be found below $300K.

Condo and townhouse prices in downtown Tallahassee Florida 32301

Recent High Rise Condo and Townhouse Sales In Downtown Tallahassee

Here are some recent Condo and Townhouse sales. I did a quick run-through and selected just the "arms length" sales, so this should give Joyce a good feel for some recent downtown condo prices in Tallahassee.

Subdivision/Location Parcel Address Price Sale Date
BROOKWOOD TRACE CONDO 2014 MIDYETTE RD $124,500 9/18/2009
BRIGHTON PLACE 1575 PAUL RUSSELL RD $155,000 8/31/2009
PLAZA TOWER CONDO 300 S DUVAL ST 2005 $465,900 8/20/2009
PLAZA TOWER CONDO 300 S DUVAL ST $255,700 8/19/2009
BRIGHTON PLACE CONDO 1575 PAUL RUSSELL RD $130,000 8/14/2009
PLAZA TOWER CONDO 300 S DUVAL ST 1405 $390,600 8/7/2009
BRIGHTON PLACE CONDO 1575 PAUL RUSSELL RD $156,500 8/5/2009
SUMMERCHASE CONDOMINIUMS GEARHART RD $130,000 8/3/2009
PLAZA TOWER CONDO 300 S DUVAL ST $215,600 7/31/2009
LAFAYETTE CONDO/TOWNHOMES 304 S FRANKLIN BLVD $105,000 7/29/2009
PLAZA TOWER CONDO 300 S DUVAL ST 1905 $434,100 7/24/2009
CHARLESTON RIDGE CONDO 1320 HENDRIX RD $140,000 7/23/2009
THE TENNYSON CONDOMINIUM N MONROE ST $116,000 7/23/2009
BRIGHTON PLACE CONDO 1575 PAUL RUSSELL RD $164,900 7/22/2009
PLAZA TOWER CONDO 300 S DUVAL ST $248,800 7/17/2009
PLAZA TOWER CONDO 300 S DUVAL ST 606 $352,000 7/15/2009
PLAZA TOWER CONDO 300 DUVAL ST 1110 $201,400 7/10/2009
PLAZA TOWER CONDO 300 S DUVAL ST 1610 $244,600 7/10/2009
LAFAYETTE CONDO/TOWNHOMES 348 S FRANKLIN BLVD $165,000 7/9/2009
PLAZA TOWER CONDO 300 S DUVAL ST 2106 $438,300 7/8/2009
PLAZA TOWER CONDO 300 S DUVAL ST 503 $239,700 7/7/2009
PLAZA TOWER CONDO 300 S DUVAL ST $159,800 6/26/2009
PLAZA TOWER CONDO 300 S DUVAL ST 1606 $419,800 6/16/2009
PLAZA TOWER CONDO 300 S DUVAL ST $239,700 6/11/2009
BRIGHTON PLACE CONDO 1575 PAUL RUSSELL RD $155,000 6/9/2009
PLAZA TOWER CONDO 300 S DUVAL ST $246,100 6/4/2009
PLAZA TOWER CONDO 300 S DUVAL ST $377,600 6/4/2009
PLAZA TOWER CONDO 300 S DUVAL ST $369,500 6/3/2009
BRIGHTON PLACE CONDO 1575 PAUL RUSSELL RD $160,000 5/29/2009
BROOKWOOD TRACE CONDO 2014 MIDYETTE RD $125,000 5/29/2009
BROOKWOOD TRACE CONDO 2014 MIDYETTE RD $126,000 5/26/2009
PLAZA TOWER CONDO 300 S DUVAL ST 612 $291,000 5/21/2009
BRIGHTON PLACE CONDO 1575 PAUL RUSSELL RD $153,000 5/20/2009
PLAZA TOWER CONDO 300 S DUVAL ST $199,100 5/18/2009
PLAZA TOWER CONDO 300 S DUVAL ST $237,400 5/18/2009
BRIGHTON PLACE CONDO 1575 PAUL RUSSELL RD $150,000 5/15/2009
EMBASSY HOUSE CONDO 407 E CAROLINA ST $189,000 5/14/2009
BRIGHTON PLACE CONDO 1575 PAUL RUSSELL RD $151,500 5/5/2009
BRIGHTON PLACE CONDO 1575 PAUL RUSSELL RD $155,000 4/30/2009
BROOKWOOD TRACE CONDO 2014 MIDYETTE RD $125,000 4/30/2009
THE TENNYSON CONDOMINIUM N MONROE ST $273,000 4/24/2009
THE TENNYSON CONDOMINIUM N MONROE ST $110,500 4/23/2009
CHARLESTON RIDGE CONDO 1320 HENDRIX RD $132,000 4/13/2009
SUMMERCHASE CONDOMINIUMS GEARHART RD $135,000 4/10/2009
GOVERNOR'S INN CONDOMINIUM S ADAMS ST $172,500 3/16/2009
BRIGHTON PLACE CONDO 1575 PAUL RUSSELL RD $153,000 3/15/2009
EMBASSY HOUSE CONDO 407 E CAROLINA ST $189,900 3/6/2009
EMBASSY HOUSE CONDO 405 N GADSDEN ST $89,900 2/24/2009
GOVERNOR'S INN CONDOMINIUM S ADAMS ST $162,500 2/9/2009
BRIGHTON PLACE CONDO 1575 PAUL RUSSELL RD $150,000 1/28/2009
GOVERNOR'S INN CONDOMINIUM S ADAMS ST $178,100 1/15/2009
GOVERNOR'S INN CONDOMINIUM S ADAMS ST $172,500 1/5/2009
GOVERNOR'S INN CONDOMINIUM S ADAMS ST $178,100 1/5/2009
THE TENNYSON CONDOMINIUM N MONROE ST $250,000 12/12/2008
THE TENNYSON CONDOMINIUM N MONROE ST $301,000 12/9/2008
GOVERNOR'S INN CONDOMINIUM S ADAMS ST $142,500 11/19/2008
GOVERNOR'S INN CONDOMINIUM S ADAMS ST $213,400 11/19/2008
TALLAHASSEE CENTER CONDO 215 W COLLEGE AVE $185,000 11/7/2008
BRIGHTON PLACE CONDO 1575 PAUL RUSSELL RD $166,000 10/31/2008
TALLAHASSEE CENTER CONDO 215 W COLLEGE AVE $136,900 10/31/2008
TALLAHASSEE CENTER CONDO 215 W COLLEGE AVE $299,900 10/31/2008
BRIGHTON PLACE CONDO 1575 PAUL RUSSELL RD $155,500 10/21/2008
BRIGHTON PLACE CONDO 1575 PAUL RUSSELL RD $205,000 10/21/2008
BRIGHTON PLACE CONDO 1575 PAUL RUSSELL RD $210,000 10/21/2008
CHARLESTON RIDGE CONDO 1320 HENDRIX RD $135,900 9/30/2008
ADAMS STREET LOFTS CONDO 420 N ADAMS ST $180,000 9/18/2008
TALLAHASSEE CENTER CONDO 215 W COLLEGE AVE $149,900 9/5/2008
PLACES ON PARK CONDO 2901 E PARK AVE $159,000 8/15/2008
CITY COVE CONDO 301 VANTAGE POINT LN 7 $98,000 8/13/2008
EMBASSY HOUSE CONDO 408 E VIRGINIA ST $89,900 8/11/2008
EMBASSY HOUSE CONDO 405 E CAROLINA ST $90,000 8/8/2008
BRIGHTON PLACE CONDO 1575 PAUL RUSSELL RD $168,000 8/4/2008
EMBASSY HOUSE CONDO 410 E VIRGINIA ST $104,900 7/24/2008
TALLAHASSEE CENTER CONDO 215 W COLLEGE AVE $195,000 7/24/2008
ADAMS STREET LOFTS CONDO 420 N ADAMS ST $475,000 7/10/2008
SUMMERCHASE CONDOMINIUMS GEARHART RD $155,000 7/10/2008
PLACES ON PARK CONDO 2901 E PARK AVE $175,000 7/7/2008
BRIGHTON PLACE CONDO 1575 PAUL RUSSELL RD $166,000 6/30/2008
ADAMS STREET LOFTS CONDO 420 N ADAMS ST $500,000 6/24/2008
GOVERNOR'S INN CONDOMINIUM S ADAMS ST $277,000 6/23/2008
GOVERNOR'S INN CONDOMINIUM S ADAMS ST $277,000 6/23/2008
TALLAHASSEE CENTER CONDO 215 W COLLEGE AVE $180,000 6/23/2008
EMBASSY HOUSE CONDO 408 E VIRGINIA ST $92,900 6/18/2008
CHARLESTON RIDGE CONDO 1320 HENDRIX RD $160,000 6/13/2008
PLACES ON PARK CONDO 2901 E PARK AVE $155,000 5/30/2008
LAFAYETTE CONDO/TOWNHOMES 520 E PENSACOLA ST $97,000 5/29/2008
ADAMS STREET LOFTS CONDO 420 N ADAMS ST $500,000 5/23/2008
TALLAHASSEE CENTER CONDO 215 W COLLEGE AVE $168,900 5/15/2008
TALLAHASSEE CENTER CONDO 215 W COLLEGE AVE $185,000 5/9/2008
LAFAYETTE CONDO/TOWNHOMES 303 S MERIDIAN ST $325,000 5/8/2008
BRIGHTON PLACE CONDO 1575 PAUL RUSSELL RD $168,000 4/29/2008
SUMMERCHASE CONDOMINIUMS GEARHART RD $158,000 4/23/2008
TALLAHASSEE CENTER CONDO 215 W COLLEGE AVE $330,000 4/11/2008
ADAMS STREET LOFTS CONDO 420 N ADAMS ST 101 $195,000 4/3/2008
ADAMS STREET LOFTS CONDO 420 N ADAMS ST 502 $194,900 4/2/2008
ADAMS PLACE CONDOMINIUMS 3000 S ADAMS ST $152,000 3/31/2008
BONAVENTURE TOWNHOMES 3037 CAMELLIAWOOD CIR E $164,900 3/31/2008
HAYS STREET CONDOMINIUM 1406 HAYS ST $140,000 3/28/2008
SUMMERCHASE CONDOMINIUMS GEARHART RD $158,000 3/28/2008
EMBASSY HOUSE CONDO 415 N GADSDEN ST $1,048,000 3/21/2008
ADAMS PLACE CONDOMINIUMS 3000 S ADAMS ST $122,100 3/20/2008
ADAMS STREET LOFTS CONDO 420 N ADAMS ST UNIT 505 $204,900 3/19/2008
ADAMS STREET LOFTS CONDO 420 N ADAMS ST 205 $189,900 3/13/2008
CHARLESTON RIDGE CONDO 1320 HENDRIX RD $155,800 3/11/2008
BROOKWOOD TRACE CONDO 2014 MIDYETTE RD $157,000 3/5/2008
BROOKWOOD TRACE CONDO 2014 MIDYETTE RD $149,900 2/25/2008
LAFAYETTE CONDO/TOWNHOMES 536 E PENSACOLA ST $155,000 2/4/2008
CHARLESTON RIDGE CONDO 1320 HENDRIX RD $70,300 2/1/2008
CHARLESTON RIDGE CONDO 1320 HENDRIX RD $176,400 1/17/2008
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Joe Manausa is a real estate blogger, a real estate investor and the Broker and Co-Owner of Joe Manausa Real Estate. He can be reached via e-mail through the Tallahassee Real Estate Website or catch his latest writings on the Tallahassee Florida Real Estate Blog , or by calling (850) 386-2001.

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Joe Manausa, MBA is a 26 year veteran of real estate brokerage in Tallahassee, Florida and has owned and managed his own company since 1992. He is a daily blogger with content that focuses on real estate analytics and providing his clients with a tactical advantage in today's challenging market.

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