Eastgate Neighborhood In Tallahassee, Florida

Posted by Joe Manausa on Tuesday, February 26th, 2008 at 5:31pm.

A reader recently asked me to provide some market information about a great neighborhood on the Northeast side of the Tallahassee real estate market. The Eastgate subdivision sells for just below Tallahassee's median price and therefore should always be a highly sought-after neighborhood. The first thing I like to look at when checking out an area is what I refer to as a "market snapshot." The following graphic shows us quite a bit about what is happening in Eastgate. From a supply standpoint, Eastgate is doing better than the average neighborhood in the Tallahassee real estate market, in that it only has 8.7 months of supply of homes on the market. From the chart above, we can see that the homes on the market are priced well below the homes that failed to sell in the past year, but also below homes that sold in the past year. This looks suspiciously like prices are dropping in Eastgate. When we look at the long-range history of Eastgate, we find the following 17-year chart: This is a much better view, showing that prices might be coming down from the high of the boom market, but overall, Eastgate is alive and well, performing much like we expect to see from a neighborhood in the Tallahassee real estate market.

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Joe Manausa is 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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