The real estate market is local in nature, yet most of the media reports tell us how the real estate market is doing nationally, or how it is doing in the state of Florida. While this blog typically focuses on the real estate market in Tallahassee, I do occasionally take a peek at the markets that surround Leon County. This blog is one of my monthly updates that is designed to recognize the impact on Leon County when one of the surrounding counties does something unique or extraordinary.
Tallahassee Area Home Values
While most people who want to work in Tallahassee choose to live in Leon County, the four counties that comprise the Tallahassee real estate market also make for wonderful alternatives to living in Tallahassee.
So what is this graph of the real estate markets surrounding Tallahassee showing us?
North Florida Real Estate Market Summary
- Leon County – Homes in Leon County continue to see steady upward average price movement. The average price of a home sold in Leon County over the past 12 months was $209,000.
- Gadsden County – Gadsden County has also enjoyed a relatively continuous increase in home values. The avergage price of a homeover the past 12 months in Gadsden County was $152,000.
- Wakulla County – Wakulla County has seen the trend of home values reverse in the past two years. Even before the boom, Wakulla was seeing robust sales as the newest "bedroom" community of Tallahassee. The booming market made the average price of a home in Wakulla rise to $180,000, but the bust has brought it back down. The average price of a home that sold in Wakulla inthe past 12 months is $164,000.
- Jefferson County – The boom market made home values in Jefferson County soar to the same level as homes sold in Leon County. Unfortunately, the bust market has seen the average price of a home in Jefferson County trend all the way back down to a level just higher than the pre-boom values. Currently, the average price of a home sold in Jefferson County over the past 12 months was $154,000.
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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.