If you’ve never enjoyed the experience of taking your young child (or grandchild) fishing from your own backyard, then you don’t know what you’ve been missing.
Today’s post takes a look at the homes for sale where this is possible and includes graphs and analysis of the waterfront homes market.
Waterfront Homes For Sale In Tallahassee
Waterfront Homes For Sale In Tallahassee
Right now, it appears as if waterfront homes are slightly undervalued in Tallahassee.
The graph above plots the average price per square foot of waterfront homes (in blue) those not on the water (in brown) sold in Tallahassee from 2003 through early March 2021.
Over time, it appears as if the waterfront homes’ average value is about 15% higher than those not on the water, yet several times we see the values come together. Like now.
This suggests that we’ll see waterfront home values move higher (faster) than will those not on the water, as right now the average values are the same. If you’ve been thinking about buying a home on the water, now is a good time.
Tallahassee Home Prices
So what do you have to pay for a home on the water?
The average price of a home on the water right now is just under $400K, but like all homes in Tallahassee, we’re expecting this average to push higher fairly quickly in 2021. The overall supply of homes for sale is far less than the current demand from buyers, so be prepared for a highly competitive purchase.
When you find the right waterfront home, you need to know that other buyers will have found it too. Talk to your real estate buyer’s agent about the best offering price you can make to secure the home (and don’t be surprised if your offer price needs to be higher than the asking price!).
We are experiencing historically low inventory levels right now, so you should ensure you have your plan of attack ready before you start seriously looking at homes. You’ll be glad that you prepared when you find your dream waterfront home.
Top Tips For Homebuyers
Buy Now Or Wait? The 91.6% Rule
Biased Results? The New York Times Rent Or Buy Calculator
Do's And Don'ts During The Home Loan Process
6 Real Estate Contract Terms You Should Not Overlook
7 Tips On Buying A Home With A Pool
How much house can you actually afford (By Income)?
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.
As a local born and raised in Tallahassee with a focus on customer service, I promise you'll find great success when working with the Joe Manausa Team at Xcellence Realty, just as have our past customers. You can read thousands of their reviews reported on Google, Facebook and Zillow right here: Real Estate Agent Reviews Tallahassee.
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Think all REALTORS are alike?
Read what people are saying about working with the Joe Manausa Team at Xcellence Realty! You can see thousands of real customer reviews reported on Google, Facebook and Zillow at this link: CLICK HERE FOR REAL ESTATE AGENT REVIEWS.
