|Home Location||PreviousSale Price||Recent Sale Price||PreviousSale Date||RecentSale Date||Annual Appreciation Rate|
|Hill Gail Trail||$195,900||$200,000||12/9/2005||5/12/2008||0.86%|
|Ivy Green Trail||$265,000||$290,000||11/8/2004||5/19/2008||2.59%|
|Meadow Ridge Drive||$195,000||$400,000||6/3/1994||5/29/2008||5.27%|
|Man O War Trail||$78,800||$175,000||3/3/1993||5/12/2008||5.39%|
|Hill 'N Dale Street||$80,000||$180,000||12/2/1991||5/2/2008||5.06%|
The average annual appreciation rate in this group is about 4% (3.97%). Anything purchased in 2005 or more recently in this group has depreciated. Any home purchased in 2004 or prior has appreciated. I suspect this means that properties were appreciating over time until the market peaked in 2005. Since then, the market has "taken some back." If you purchased your home recently, it might be worth less than you paid. However, if you purchased it prior to 2005, most likely is still is worth more than you paid.
Take a close look at the home on Buckeye trace (it is listed twice in blue). It was sold after being purchased in 2007 and it was sold for 3% less than it had been purchased. But the prior owner, who owned it from 2004 to 2007, had an annual appreciation rate of 12.5%. The previous owner had perfect market timing, hitting the best two years of real estate appreciation that the Tallahassee real estate market has seen since I began measuring in 1991.
Most likely this data is too small of a sample to be absolute “proof” of anything, I would suspect these kind of numbers to hold true for the entire market. Home values peaked in 2005 and we are now seeing real estate depreciation in the Tallahassee real estate market.
If you would like to see the full Tallahassee Real Estate Market Report, just following the link to 12 new and updated color graphs.
As a reminder for those who subscribe to the Tallahassee Real Estate Blog by email, some embedded pictures and videos might not be appearing in your email and you might need to click the title header to go to your browser where all will be visible. Keep checking out the Tallahassee Real Estate Blog every day for updates that include charts, graphs, and analysis of the Tallahassee real estate market. If you like this Article then please subscribe to my blog through a full RSS feed, or you can . You will be able to stay informed about the happenings in the Tallahassee Real Estate Market. You can also subscribe to this blog and have it delivered by Email. 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.
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.