120 Cool Pools For Hot August In Tallahassee
You might be wondering how to beat the heat this Summer, how about buying a home with a pool?
Today's report starts with all the homes for sale with swimming pools in Tallahassee, then follows with graphs and analysis of the swimming pool homes market in Tallahassee.
Homes For Sale With Swimming Pools
What Homes With Swimming Pools Are Worth
One could argue that from the months of May through September, homes with swimming pools in Tallahassee are priceless! But let's get analytical and answer the question.
The graph above was created by using all existing homes with swimming pools sold from 2003 through July 2020. The blue line plots the average home value (measured in price per square foot of the home), while the red line plots the appreciation rate each year.
The average value of an existing home with a pool sold in 2020 has been $130 per square foot, up a full 6% over last year's average value (remember, we're only a little more than 1/2 of the way through the year). Current values are only 1% lower than peak-of-the-market values back in 2006, and it's highly likely we'll close 2020 with the highest average pool home values ever reported.
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How Pool Homes Compare With Homes Without Pools
The following graph shows that pool homes, over time, are appreciating faster than are homes without pools.
This graph attempts to compare how swimming pools directly impact the appreciation rate of homes. In order to find this, we narrowed the list of homes that sold in order to remove variables that would impact value changes.
For example, we removed homes on premium lots so that the additional value that acreage, a lake, or a golf-course would add, and we did the same for new construction. This means that the large group of home sales we analyzed were all interior, subdivided lots on existing home sales, allowing us to reduce the variables that might skew the results.
The blue line in the graph plots the average difference in values between the two, while the blue dotted line shows the trend of the difference in values. Homes with swimming pools are growing in value faster than are homes without pools.
So there you have it. Don't just buy a home with a pool to be cool in August, do it to add equity in your home over time. That's a win-win for sure!
Your Local Expert In Tallahassee
When moving to, in, or from Tallahassee, you will fare better if you work with a local expert. We are here to help. If you have further questions on the Tallahassee real estate market, you can leave a comment below, give us a call at (850) 366-8917, or drop us a note and we'll give you the local information needed to ensure a successful, smooth transaction.
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