Which Are The Top Appreciating Neighborhoods In Tallahassee?

Whether you own a home in Tallahassee and are curious or you are actively in the market to buy a home, it's important to know what home values are doing.

Today's report is short and sweet, and it serves to spotlight the fastest appreciating neighborhoods in Tallahassee. First, it starts with a list of all homes for sale in Tallahassee and then concludes with graphs, analysis, and a table of the most recent home sales in Tallahassee's top neighborhoods.

Homes For Sale In Tallahassee Neighborhoods

Tallahassee Fastest Appreciating Neighborhoods Since 2017

Rather than just look at eight months of data, I went back to the start of 2017 and pulled all neighborhoods selling at least two homes each month for this report. The graph below shows the top appreciating Tallahassee neighborhoods, arranged from the bottom to the top.

Forest Heights is the fastest appreciating neighborhood for the past 3.7 years, with values moving 52% during that period of time. That's an annualized growth rate of 12%, which is roughly 4 times the historic norm.

Graphs like the one above can be a great tool for buyers, looking to find a neighborhood that has not kept up with the market. Of course, it's not merely as simple as choosing one from the top, you have to understand some of the other issues impacting value growth.

For example, Canopy at the very top, is a new neighborhood and most of its sales are new construction homes, so we're not going to see values move as high as in neighborhoods (like Camelot Park) which only post existing home sales.

This is a great topic to discuss with your real estate buyers' agent if you have not yet decided where you would like to live.

Long-Term Value Growth Leaders

The following graph shows the same group of neighborhoods as before, but this time we plot growth since the bottom of the housing market in 2012 when most neighborhoods posted the lowest home values since well before the housing bubble exploded.

Forest Heights is no longer the top performer, but it still has an impressive growth exceeding 70% since 2012. The fastest appreciating neighborhood during the past nine years is Timber Lake coming in at a whopping 96% appreciating, with its homes nearly doubling in value since 2012. That's an annual growth rate of more than eight percent!

Some neighborhoods were hit harder by the housing market collapse, so that can be a reason why some have further recovered than have others. If you are looking to find a diamond in the rough, you'll want to remove as many variables as possible when attempting to find a neighborhood poised to beat the market. Of course, working with a highly regarded, experienced buyers' agent can help you in this regard.

Recent Home Sales In Tallahassee

The following table shows the most recent 1,000 home sales in Tallahassee's top-selling neighborhoods. You can sort the table by any field in the header (including neighborhood). Enjoy!