Land Ho! Shop Here For Homes For Sale On Acreage
Are you looking to buy a home in Tallahassee that sits on an acre or more? If so, you'll be happy to know that we've gathered them all right here.
Additionally, we have included a housing market report specific to homes on acreage, so after looking at the listings, take a look below for information that will help you make the best decision possible (whether selling or buying a home on acreage).
Homes For Sale In Tallahassee On Acreage
Homes On Acreage Are Popular
Nearly one of every ten existing homes sold in Tallahassee sits on more than 1 acre, so homes on acreage make up a healthy segment of our housing market.
The graph below shows the number of existing homes sold each year (through October in 2020) that sit on an acre or more.
Currently, there are 142 homes for sale that sit on an acre or more, and 68 of them are already under contract with buyers (nearly 48%). Demand for homes on acreage is as strong as I have ever seen.
Homes On Acreage (Average Prices)
The graph below shows the average price of the existing homes sold each year (through October in 2020) that sit on an acre or more.
The average price of an existing home on acreage in Tallahassee has been generally rising since the market bottomed in 2012, and has reached an all-time high. It is interesting to see that, unlike the overall market, average prices have been see-sawing on their way up.
You have to remember that this segment includes homes on an acre, as well as homes on 900 acres, so the disparity among the homes lumped together in this group is the reason that fluctuations occur.
Focus on the long-term (general) trend for the best insight from this data.
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Homes On Acreage (Average Values)
The graph below shows the average value of the existing homes sold each year (through October in 2020) that sit on an acre or more.
The average value of an existing home on acreage in Tallahassee has been generally rising since the market bottomed in 2012. It's interesting to see that a new all-time high was recorded as early as 2017, much faster than most neighborhoods that we report on who are just reaching highs in 2020.
The average value is measured in price per square foot, something that is almost completely useless for anything other than the overall direction of values. Think about this.
What good is knowing the price per square foot of a home on an acre versus a home on 50 acres? It completely ignores the value of the land. But that does not mean tracking the trends is not important!
The overall trend very likely applies to just about every house in this category. Instead of thinking of absolute value, think about relative value.
Homes On Acreage (Average Sizes)
The graph below shows the average size of the existing homes sold each year (through October in 2020) that sit on an acre or more.
We track the average size of existing homes on acreage sold each year in order to understand any irregular fluctuations in prices and values.
Generally speaking, we expect most homes on acreage to be 2,600 to 2,800 square feet.
How To Use This Information
Larger homes and smaller homes on smaller plots and larger plots can create havoc with the value data, but if you are looking at homes that fall between 2,600 and 2,800 square feet, you should anticipate value movement as was graphed prior.
To sell or buy an existing home on acreage, one's value determination and methodology has to be far more enlightened than what this report shows. More importantly, online home valuation tools are useless for these types of properties.
You'll have to seek the assistance of a well-informed, local real estate agent to properly assess the fair market value of an existing home on acreage, as they will know where to gather the best comparable properties for evaluation.
Use the data in this report to understand general market trends for existing homes on acreage, but rely on your professional real estate agent for guidance on a specific home.
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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 Joe Manausa Real Estate, 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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