Condo and Townhouse Construction Trends March 4, 2010
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.
There are plenty of options for new condos and new townhouses in Tallahassee, so interested buyers should make a complete search of the Tallahassee MLS as well as consult with a knowledgable REALTOR about all of the opportunities that have not yet hit the known inventory of condos and townhouses in Tallahassee.
We should expect to see a surge of new condo and townhouse sales as the home buyer tax credit crawls to a conclusion at the end of April. Remember, under this credit program, a buyer needs to have a condo or townhome (or single family home) under contract no later than April 30th, 2010, and must close on the property no later than June 30, 2010. Rumors coming from Wall Street indicate that this program WILL NOT BE EXTENDED after this one expires.
Great Tallahassee Real Estate ResourcesDo you want to know more about the Tallahassee real estate market? It is not as hard as you might think keeping up with the movements in the housing market, you just have to know where to look. The following are some of the best resources that you can find on Tallahassee real estate:
- Daily Real Estate Blog (A Technorati Top 100): Tallahassee Real Estate Blog
- Current Housing Reports: Housing Market Reports
- Map Based Property Search Tool: MLS Property Search
- Foreclosure Reports: Lis Pendens and Foreclosures
- List of Distressed Properties in the MLS: Distressed Properties
- REALTOR® news and updates: Successful REALTORS®