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I was recently looking into home values in Unit 2 of Killearn Lakes Plantation and figured that my results would make for an interesting blog post at the Tallahassee Real Estate Blog. Killearn Lakes is the most active subdivision in Northeast Tallahassee, so I knew that whatever I found would be an important representation of current activity in the Tallahassee housing market.
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A few things stand out when I look at these results. First of all, new single family homes in Southwood (price per foot) are selling for less than the resale price per foot. That sure makes for some tough competition when a Southwood homeowner decides to sell a home and tries to compete with builders bringing in supply cheaper than they paid for theirs.
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One community that has seen the most home sales (due to growth) over the past few years is Tallahassee’s Southwood. During the peak of the market, Southwood was averaging 34 homes sold each month, and now it has seen that number decline to less than 10 homes sold in Southwood each month.
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