Just a quick post for today as I'm preparing for a pounding for Tropical Storm (Hurricane?) Fay. The storm is supposed to hit us around 3:00 a.m. Eastern Time, so I'm getting this done just ahead of time in case we lose power.
I've just received the market data for the month of July and I'm still in the process of deciphering all of it. This quick little average price trend graph is rather interesting, especially if you own a home in one of the counties surrounding Leon County.
Tallahassee Area Home Price TrendsAs a quick observation, It appears that the average home price in Leon County Florida and the average home price in Gadsden County Florida appear to be appreciating nicely, whereas we can see downward movement on the average price of a home in Wakulla County and similarly, a downward movement on the average price of a home in Jefferson County, Florida. One final point I would like to make on "average home prices" is that just because they are going up or down does not mean that home values are following suit! Maybe people are able to buy more home (low interest rates) and are choosing to spend the same amount of money but are getting more home. Do not be fooled into believing that average price movement equals market movement. I believe I committed an entire blog article on that in the past.
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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.
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.