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Every so often I like to provide a market update for Golden Eagle Plantation in Tallahassee, Florida. In my previous Golden Eagle Housing Report, I reported that unit sales had dropped and that prices had dropped from their recent highs.
In this report, unfortunately, the news will parallel that of the previous reports. while unit sales are about the same, prices have continued to drop.
Golden Eagle Home Prices Continue To Fall
The bad news is that Golden Eagle is subject to the same market conditions as the rest of the Tallahassee real estate market. The good news is that prices seem to be holding with the price points achieved at the beginning of 2006.
The real estate graph below shows the average home size selling in Golden Eagle as well as the average price per square foot trend (average price in golden eagle over the previous 12 months).
2008 Golden Eagle Unit Sales Stronger Than 2007
While it is still to early to call, it appears that unit sales in Golden Eagle Plantation will be greater in 2008 than in 2007. For a neighborhood that has too much inventory, this is a good sign. Golden Eagle homes seem to be holding their values a little better than the rest of Northeast Tallahassee (which is stronger than the rest of Leon County).
The real estate graph below shows the average price trend in Golden Eagle (red fill) and the average number of homes sold monthly (blue bars).
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