What's For Sale in the Tallahassee Real Estate Market

Posted by Joe Manausa on Wednesday, July 23rd, 2008 at 6:54am.

As I get ready to make my annual trip to West Point, I find myself checking the Tallahassee Board of Realtors Multiple Listing Service (MLS) to find out what is for sale in the Tallahassee real estate market. The good news is that inventory has made a modest decline in the past few weeks. When I look at homes for sale in Tallahassee (single family detached homes, condos and townhouses), I find that the total inventory of homes on the market in Tallahassee has dropped to 3,217 homes. Here is how that breaks down:

Homes For Sale In Tallahassee

  • 322 new construction, single family detached homes
  • 1,845 resale, single family detached homes
  • 334 new construction condos and townhouses
  • 716 resale condos and townhouses
  • 3,217 housing units for sale in Tallahassee
Of course I'm curious about pricing points, so here is what I have found about the average asking price by property type in Tallahassee:

Average Price Per Square Foot In Tallahassee

  • New construction, single family detached homes - $150 per square foot
  • Resale, single family detached homes - $140 per square foot
  • New construction condos and townhouses - $198 per square foot
  • Resale condos and townhouses - $121 per square foot
  • Average Price per square foot for a home in Tallahasseee - $143
Now, square footage costs is only a general rule of thumb, so don't go grabbing your calculator to see what your home is worth (especially since these are the asking prices of what is on the market, of which, over 60% will fail to sell!). Tallahassee Housing Market Report July 2008 I guess the next logical statistic to point out is the average asking price by property type, so here it is:

Average Asking Price For A Home In Tallahassee

  • New construction, single family detached homes - $320,691
  • Resale, single family detached homes - $301,126
  • New construction condos and townhouses - $266,413
  • Resale condos and townhouses - $138,893
  • Average asking price for a home in Tallahassee - $263,373
Now, to round out our Tallahassee housing data, the average home sizes are listed below:

Average Home Size In Tallahassee

  • New construction, single family detached homes - 2,135 Square Feet
  • Resale, single family detached homes - 2,149 Square Feet
  • New construction condos and townhouses - 1,349 Square Feet
  • Resale condos and townhouses - 1,150 Square Feet
  • Average home size in Tallahassee - 1,842 Square Feet
Tallahassee Home Prices

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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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