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Which Tallahassee Zip Code Has The Most Expensive Homes?

If you are new to the Tallahassee real estate market, you might wonder what each zip code has to offer.

Currently, the most expensive homes are found in this zip code, and it also happens to have sold the second most number of homes thus far in 2017!

32312 Zip Code Home Listings

32312

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Homes Sales In The Tallahassee Zip Codes

The following graph shows the number of homes sold (black bars, measured on the left vertical axis) and the average price (green bars, measured on the right vertical axis) of homes in each of the Tallahassee zip codes.

Homes Sales In The Tallahassee Zip Codes

As you might have expected, the 32312 zip code has the highest average home sales price in Tallahassee. Even so, 32312 is reporting the second most number of homes sold thus far in 2017. Here's how the numbers look:

  • 32301 - 218 homes sold at an average sales price of $131,527
  • 32302 - 2 homes sold at an average sales price of $112,500
  • 32303 - 484 homes sold at an average sales price of $143,734
  • 32304 - 167 homes sold at an average sales price of $86,376
  • 32305 - 60 homes sold at an average sales price of $116,827
  • 32308 - 204 homes sold at an average sales price of $234,080
  • 32309 - 334 homes sold at an average sales price of $266,936
  • 32310 - 67 homes sold at an average sales price of $114,068
  • 32311 - 276 homes sold at an average sales price of $233,429
  • 32312 - 427 homes sold at an average sales price of $317,466
  • 32317 - 139 homes sold at an average sales price of $272,997

Thus far in 2017 (through sales posted in the Tallahassee MLS by 7/25/2017), there have been 2378 homes sold at an average sales price of $211,263. When we segregate sales by existing home sales versus new home sales, we find:

  • 2,170 existing home sales with an average price of $200,720
  • 208 new home sales with an average price of $321,245

If you are considering buying new construction, you might be interested in knowing the "premium" you will pay for a new home. One way to examine this is to compare the difference in average prices of new construction versus existing home sales in each zip code. While it is not perfect, it does show that some areas appear to be riskier than others when it comes to buying new.

  • 32301 - New construction averages 113% higher than do existing home sales
  • 32302 - No New construction sales
  • 32303 - New construction averages 44% higher than do existing home sales
  • 32304 - New construction averages 35% higher than do existing home sales
  • 32305 - New construction averages 89% higher than do existing home sales
  • 32308 - New construction averages 41% higher than do existing home sales
  • 32309 - New construction averages 68% higher than do existing home sales
  • 32310 - New construction averages 24% higher than do existing home sales
  • 32311 - New construction averages 36% higher than do existing home sales
  • 32312 - New construction averages 18% higher than do existing home sales
  • 32317 - New construction averages 43% higher than do existing home sales

The 32312 zip code appears to have the tightest differences between new home sales and existing home sales (suggesting a better investment at this time). It will be interesting to see how the new homes in the Bannerman area impact these figures in the next few years.

If you'd like to know more about home sales in Tallahassee, nobody has a deeper understanding of the market than our thoroughly trained specialists here at Joe Manausa Real Estate. Simply drop us a note anytime and we'll be in touch right away.

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