There are only 31 single-family detached homes for sale in gated communities in Tallahassee, starting from as low as $300,000 and priced as high as $2.95M.
Offering controlled access for privacy, safety, and security, homes in gated communities are always in favor for a segment of homebuyers who want to control access to their homes.
Active Listings In Tallahassee’s Gated Communities
Gated Community Homes For Sale
The properties above are either active listings or have contingent contracts. Additionally, there are another five for sale with “pending” contracts about to close. Overall, there are 36 single-family detached homes for sale in gated communities in Tallahassee and 19 (more than 1/2) are already under contract with buyers.
Home Prices In Gated Communities
The average home price in Tallahassee is on the rise, but as we see in the graph below, that is not the case for homes in gated communities.
In the graph above, the blue bars show the average price of homes that sold in gated communities while the red bars plot the same for homes outside of gated communities. The green-dashed line plots the difference between the two.
Thus far in 2020, the average price of a home inside a gated community has dropped more than 2%, while the average price of homes outside the gates has risen nearly 7%.
One of the reason that we track so many niches in the Tallahassee real estate market is to give our clients more information before they buy or sell a home.
A great example of this can be seen in the graph above. The green-dashed line measures the “premium” that buyers pay to purchase a home in a gated community.
Right now, the premium is at 117% (meaning the average buyer of a home in a gated community pays more than double what the average buyer outside of gated communities pays). The premium averages about 130% over the 17 years tracked, so one could say that right now homes in gated communities are being sold at better prices than we’ve seen in the past 17 years.
Home Values In Gated Communities
This next graph compares the average value of single-family detached homes in gated communities with those that are outside of gated communities.
Thus far in 2020, the average value of a home inside a gated community has risen nearly 5%, while the average value of homes outside the gates has risen nearly 7%.
Currently, the premium (green-dashed line) that gated community homeowners are receiving is at a 17-year low. Thus far in 2020, the average value of a home sold in a gated community was 28% higher than those sold outside of the gates. Historically, we’ve seen the value premium run closer to 35%.
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Home Sizes In Gated Communities
This next graph compares the average size of single-family detached homes in gated communities with those that are outside of gated communities.
The average size of homes sold in gated communities is about 69% larger than those outside of gated communities. Over the past 17 years, we’ve seen this average closer to 74%, meaning this year, on average, the homes sold in gated communities are closer to the size of those sold outside of the gates.
When all else is equal, larger homes sell for a lower price per square foot than do smaller homes as the cost of the land and premium features is divided into more space. We measure the size trends so that we can understand the differences in the change between prices and values.
With the difference in size coming closer to together, it is not surprising to see the value differential tightening. It also explains how the average value of homes in gated communities rose while the average price of those homes fell.
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