What Is Happening With Land Sales?

Posted by Joe Manausa on Thursday, August 28th, 2008 at 10:40am.

The data is in for the month of July and we have analyzed, scrutinized, charterized, and grapherized it and placed in The Market Bulletin on the Tallahassee Real Estate Web Site. If you have not done so yet, subscribe to this blog so that you can always be on top of what is going on in the Tallahassee real estate market. Otherwise, you can just go directly to our July Real Estate Market Reports page and see what is going on. But if you want the skinny on residential lots in Leon County, then

You Have Found The Right Place For Tallahassee Lots

This first graph shows how unit sales and average prices are trending. That means for every point on the graph, it is showing us the average over the past year for that piece of information. Currently, Tallahassee lot sales are averaging $83,400 per lot over the past year, while averaging only 67 lot sales per month. The next graph shows the Year-to-Date (through July) Tallahassee lot sales composed with just the raw data, as opposed to trends as we saw in the first graph. The blue line running across the graph shows that prices shot up and then came back down some, but still are up significantly since 2001. The average price for a lot in Tallahassee through July of this year is $79,030. We can see that unit sales per month have dropped from an average of 363 per month through July in 2004 to just 63 per month through July of this year. Graph of Leon County Florida Lot Sales

Reduced Lot Sales Is Good For Now

The reduced amount of lot sales in Leon County is good. I believe this is helping reduce the inventory of homes in Tallahassee as fewer lots are being developed. We are seeing prices hold fairly stable due in part to the high cost of development in Leon County (meaning nobody can develop lots cheap any more) and the fact that production of build-able lots has slowed so much.
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 Subscribe with Bloglines . 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.
View Joe Manausa's profile on LinkedIn

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.

1 Response to "What Is Happening With Land Sales?"

Steve wrote: Reducing the amount of inventory is key recovering a more stable real estate market. It is nice to see that Tallahassee is on the right track.

Posted on Tuesday, September 9th, 2008 at 10:12am.

Leave a Comment