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Average home prices continue to fall in Tallahassee, perhaps a sign that the Homebuyer Tax Credit is stimulating the market more actively in median price homes than in the higher price ranges. Through February, the average price of a home sold was $164K, which is $2000 less than the average home price in 2004! In [...]
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We are finally starting to see some volatility in the housing market when looking at condominiums and townhouse construction. The average price of a newly built condo and townhouse has dropped over $100,000, but the monthly unit sales have doubled. I believe the trend in prices is due to a slow-down of condo sales in downtown Tallahassee, while the increase in sales has been heavily influenced by the home buyer tax credit.
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While we do have a site dedicated to distressed property information for Tallahassee, we also like to track them in our market reports area. Rather than focus on the specific units, we look at the broader categories and how troubled property owners will impact the market. Currently, of the 2,500 homes for sale in Tallahassee, [...]
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The current average price trend still shows a steep decline and we are confident this must continue until the supply and demand imbalance is corrected. But that does not mean it is a “waiters” market for home buyers, as rising interest rates and ending tax credit programs will affect affordability levels more than falling prices.
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Average real estate prices in Tallahassee fell again in December 2009, with the exception of condominiums and townhouses. Condos in downtown Tallahassee are holding up average prices in the Tallahassee “attached” home market, while the rest of the market sees continued declines.
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New Condominium and Townhouse sales in Tallahassee hit a ten-year high, mostly thanks to a developer liquidation sale on the North side of the Tallahassee real estate market. Even without this multi-unit sales event, the new construction market for condos and townhouses seems to be “average” when compared to the previous 20 years.
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Condo sales in Tallahassee (combined with townhouse sales) dropped a little in 2009 from the level recorded in 2008. Unit sales of Condos and Townhouses in Tallahassee were similar to levels seen in the 1990s, but much lower than during the boom years of 2001 through 2007. When compared to the single-family detached home sales [...]
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New Condominium and Townhouse sales in Tallahassee hit a ten-year high, mostly thanks to a developer liquidation sale on the North side of the Tallahassee real estate market. Even without this multi-unit sales event, the new construction market for condos and townhouses seems to be “average” when compared to the previous 20 years. Bookmark on [...]
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