Average Home Values In Tallahassee Same As 2003
While it is all but certain that average home values in Tallahassee will continue to fall due to the imbalance between supply and demand, our latest graph shows that we have dropped below our "normal" real estate appreciation levels, indicating a solid buying opportunity. With thousands of homes for sale in Tallahassee, the opportunities are there.
Average Home Values In Tallahassee Below "Normal"
In the real estate graph below, we can see that average home values in Tallahassee are the same today as they were back in 2003.
More interesting to me is the yellow line that shows where average home values in Tallahassee would be today had there been no real estate bubble.
So, if you purchased a house in 1992, and you sold it prior to April of last year (2011), then you enjoyed a higher than average rate of appreciation.
It also shows that anybody who bought a home from 2002 through April of last year, purchased when the market was trading above it's normal real estate appreciation line.
The buying opportunities really kicked in last year, and most likely the cost of interest rates rising after the election will exceed the remaining depreciation that the market will expose over the next few years.
If you've been waiting to move-up to a nicer home, the market is ripe.
Market Cycle Opportunities And Average Home Values In Tallahassee
I created a simple video about real estate market cycles and how they relate to average home values in Tallahassee. It's a short video, but it really shows you why investors are streaming back into the real estate market in Tallahassee.
If you want to know more about home buying opportunities and how to take advantage of lower average home values in Tallahassee, just drop me a note and we can schedule a time for you to meet with a qualified home buyer specialist.