The median home price and median home value continue to rise in Tallahassee, but $400,000 to $500,000 homes are not currently sharing in the good fortunes of the recovering real estate market.
We are finding that real estate appreciation is not being applied equally across all price ranges.
Homes at or near the middle of the market are doing quite well, but homes towards the higher end appear to be depreciating in 2015, and this report aims at providing clear insight into what is occurring for homes priced between $400,000 and $500,000.
We identified this price range as one to watch for signs of weakness about a year ago (in this blog post), and our forecast appears to be in line with what is now happening.
So if you own a $400,000 home or are planning on buying one sometime soon, this article is a must-read for you!
Falling Home Values
This real estate graph below shows the number of home sales priced between $400K and $500K each year, going back to 2002.
The number of homes sold each year is shown in blue and measured on the left vertical axis, while the average price per square foot of these homes (home values) is shown in red and measured on the right vertical axis.
There is some alarming information being illustrated by this graph.
First of all, can you see that the market for homes priced between $400,000 and $500,000 has been performing much better than the rest of the Tallahassee real estate market? Remember, overall home sales figures are similar to 1992 for Tallahassee, but this price range had its fourth-best year ever in 2014. You have to wonder why it has been so robust when the lower end of the market has been battered.
Secondly, can you see how 2015 home sales have fallen, both in the number of homes sold as well as the value of the homes being sold?
Supply Of Homes Is Growing
What you cannot see in the graph above is the impact that new construction is having on this price range.
In a market where existing homes are selling below cost, are you surprised to find that 50% of homes sold between $400K and $500K in 2015 have been new construction?
Take a look at the table below, it shows all homes sold in Tallahassee priced between $400,000 and $500,000 going back to 1991. You will find that there is an alarmingly high level of new homes in this price range, and that means the inventory for these homes is very likely going to grow in the coming months and years as these homeowners yield to normal move-cycles.
Homes sold that were priced between $400,000 and $499,999 in Tallahassee
| Address | Price | Price / SQF | Closing Date | Year Built | SQF | Sale Type |
|---|---|---|---|---|---|---|
| 998 Rosebay Court | $950,000 | $261 | 2026-10-09 | 1986 | 3,633 | Resale |
| 3917 Ardmore Ln | $600,000 | $252 | 2026-10-09 | 2026 | 2,378 | New |
| 487 Grand Oaks Rd | $405,000 | $225 | 2026-10-09 | 2023 | 1,804 | New |
| 2316 Cobb Dr | $615,000 | $198 | 2026-10-09 | 2000 | 3,104 | Resale |
| 8605 Coach Rd | $560,000 | $193 | 2026-10-09 | 1981 | 2,908 | Resale |
| 1306 Leewood Dr | $467,500 | $259 | 2026-10-08 | 1964 | 1,807 | Resale |
| 9570 Starhawk Dr | $550,000 | $189 | 2026-10-06 | 2001 | 2,907 | Resale |
| 3113 Shannon Lakes N | $455,000 | $205 | 2026-10-05 | 1986 | 2,222 | Resale |
| 844 Brookwood Dr | $407,500 | $237 | 2026-10-02 | 1958 | 1,716 | Resale |
| 5161 Holly Fern Trce | $455,000 | $242 | 2026-10-02 | 2016 | 1,879 | Resale |
| 10564 Lake Iamonia Dr | $504,000 | $238 | 2026-10-02 | 1993 | 2,121 | Resale |
| 756 Rhoden Cove Rd | $596,000 | $195 | 2026-10-02 | 1985 | 3,051 | Resale |
| 1489 Vieux Carre Dr | $696,000 | $288 | 2026-10-01 | 2002 | 2,415 | Resale |
| 2938 Abbotsford Way | $500,000 | $181 | 2026-10-01 | 1978 | 2,757 | Resale |
| 540 Bienville Pl | $687,900 | $238 | 2026-10-01 | 2026 | 2,890 | New |
| 1653 Copperfield Cir | $439,000 | $214 | 2026-10-01 | 1992 | 2,054 | Resale |
| 5050 Velda Dairy Rd | $797,000 | $259 | 2026-10-01 | 1979 | 3,072 | Resale |
| 5188 Holly Fern Trce | $599,500 | $245 | 2026-10-01 | 2017 | 2,447 | Resale |
| 6311 Bird Dog Pt | $1,100,000 | $349 | 2026-10-01 | 2014 | 3,151 | Resale |
| 3624 Craigs House Ct | $408,000 | $227 | 2026-09-30 | 1991 | 1,794 | Resale |
| 4106 Beauregard Way | $460,000 | $209 | 2026-09-30 | 2026 | 2,200 | New |
| 184 Bienville Pl | $565,000 | $220 | 2026-09-30 | 2024 | 2,572 | Resale |
| 3029 Bidhurst Ct | $400,000 | $224 | 2026-09-30 | 2010 | 1,782 | Resale |
| 201 Myddelton Trce | $430,000 | $243 | 2026-09-30 | 2002 | 1,766 | Resale |
| 2325 Haverhill Rd | $515,000 | $189 | 2026-09-30 | 1984 | 2,729 | Resale |
| 8364 Bull Headley Rd | $451,600 | $251 | 2026-09-30 | 2025 | 1,802 | New |
| 6375 Thomasville Rd | $854,000 | $189 | 2026-09-30 | 1981 | 4,529 | Resale |
| 2545 Lantana Ln | $525,000 | $246 | 2026-09-30 | 2016 | 2,137 | Resale |
| 8388 Bull Headley Rd | $441,600 | $245 | 2026-09-29 | 2026 | 1,802 | New |
| 1125 Azalea Dr | $415,000 | $207 | 2026-09-29 | 1954 | 2,008 | Resale |
| 4019 Kilmartin Dr | $435,000 | $204 | 2026-09-28 | 1987 | 2,132 | Resale |
| 3026 Bell Grove Dr | $425,000 | $195 | 2026-09-28 | 1986 | 2,174 | Resale |
| 465 Olivia Rose Ave | $450,000 | $284 | 2026-09-28 | 2022 | 1,586 | Resale |
| 8503 Congressional Dr | $1,700,000 | $244 | 2026-09-28 | 2001 | 6,960 | Resale |
| 3179 Nathaniel Trce | $491,000 | $252 | 2026-09-28 | 2013 | 1,946 | Resale |
| 5576 White Dove Trl | $435,000 | $242 | 2026-09-28 | 2026 | 1,799 | New |
| 5607 Cherry Blossom Way | $435,000 | $230 | 2026-09-25 | 2024 | 1,891 | Resale |
| 2010 Olivia Dr | $560,000 | $197 | 2026-09-25 | 1963 | 2,838 | Resale |
| 2998 Golden Eagle Dr E | $1,375,000 | $219 | 2026-09-25 | 1995 | 6,280 | Resale |
| 6754 Circle J Dr | $865,000 | $226 | 2026-09-25 | 1970 | 3,820 | Resale |
| 3164 Lakeshore Dr | $520,000 | $288 | 2026-09-25 | 1956 | 1,804 | Resale |
| 1155 Braemore Way | $555,000 | $294 | 2026-09-24 | 2019 | 1,887 | Resale |
| 1944 Charlais St | $425,000 | $216 | 2026-09-24 | 1981 | 1,970 | Resale |
| 2122 Stiles Pond Ct | $575,000 | $249 | 2026-09-24 | 2020 | 2,313 | Resale |
| 3925 Ardmore Ln | $575,300 | $250 | 2026-09-23 | 2026 | 2,302 | New |
| 2607 Marston Rd | $540,000 | $169 | 2026-09-23 | 1965 | 3,196 | Resale |
| 510 E 7TH Ave | $504,000 | $216 | 2026-09-23 | 2008 | 2,332 | Resale |
| 3404 Rosemont Ridge Rd | $497,000 | $254 | 2026-09-23 | 2021 | 1,956 | Resale |
| 4312 Terebinth Trl | $470,000 | $257 | 2026-09-21 | 2022 | 1,828 | Resale |
| 2321 Haverhill Rd | $605,000 | $240 | 2026-09-21 | 1990 | 2,521 | Resale |
| 3248 Appleton Dr | $540,000 | $181 | 2026-09-21 | 2006 | 2,983 | Resale |
| 3749 Meadow Vista Ln | $426,600 | $236 | 2026-09-18 | 2025 | 1,804 | New |
| 215 Calcasieu Pass | $499,900 | $218 | 2026-09-18 | 2026 | 2,295 | New |
| 780 Eagle View Dr | $424,500 | $206 | 2026-09-18 | 2003 | 2,059 | Resale |
| 5100 Wild Rose Way | $635,000 | $214 | 2026-09-18 | 2005 | 2,961 | Resale |
| 3686 Longfellow Rd | $470,000 | $198 | 2026-09-18 | 2004 | 2,379 | Resale |
| 5418 Lawton Ct | $405,000 | $190 | 2026-09-17 | 1993 | 2,133 | Resale |
| 4361 Kimberly Cir | $540,000 | $238 | 2026-09-16 | 1973 | 2,268 | Resale |
| 1520 Summerbrooke Dr | $530,700 | $283 | 2026-09-16 | 2026 | 1,873 | New |
| 10056 Neamathla Trl | $789,300 | $283 | 2026-09-16 | 1998 | 2,788 | Resale |
| 2605 Armstrong Rd | $595,000 | $248 | 2026-09-15 | 1975 | 2,402 | Resale |
| 275 S Franklin Blvd Unit 6 | $680,000 | $334 | 2026-09-15 | 2025 | 2,038 | New |
| 8893 Saltcoates Ct | $569,000 | $243 | 2026-09-15 | 1994 | 2,338 | Resale |
| 5014 Nelly Ln | $551,000 | $210 | 2026-09-15 | 2007 | 2,630 | Resale |
| 2951 Ervine St | $400,900 | $177 | 2026-09-14 | 2025 | 2,259 | New |
| 3020 Brandemere Dr | $489,900 | $203 | 2026-09-14 | 1969 | 2,418 | Resale |
| 1755 Tarpon Dr | $1,375,000 | $264 | 2026-09-14 | 1991 | 5,205 | Resale |
| 9031 Eagles Ridge Dr | $570,000 | $188 | 2026-09-14 | 1999 | 3,026 | Resale |
| 1328 Old Village Rd | $402,500 | $218 | 2026-09-10 | 1998 | 1,843 | Resale |
| 3019 Hawks Landing Dr | $629,800 | $329 | 2026-09-10 | 1995 | 1,913 | Resale |
| 181 Love Ridge Ct | $430,000 | $224 | 2026-09-10 | 1995 | 1,916 | Resale |
| 10567 Winters Run | $400,000 | $221 | 2026-09-10 | 1994 | 1,812 | Resale |
| 3830 Edgewater Dr | $497,500 | $181 | 2026-09-10 | 1996 | 2,752 | Resale |
| 1116 Mitchell Ave | $570,000 | $190 | 2026-09-09 | 1945 | 2,997 | Resale |
| 1536 Summerbrooke Dr | $598,100 | $233 | 2026-09-08 | 2025 | 2,572 | New |
| 200 Sugar Plum Dr | $435,000 | $204 | 2026-09-08 | 1994 | 2,131 | Resale |
| 9205 Yashuntafun Rd | $470,000 | $226 | 2026-09-08 | 1996 | 2,083 | Resale |
| 3129 Rue Royale | $790,000 | $278 | 2026-09-04 | 2003 | 2,845 | Resale |
| 9022 Winged Foot Dr | $495,000 | $181 | 2026-09-04 | 1988 | 2,740 | Resale |
| 3123 Shamrock E | $435,000 | $204 | 2026-09-04 | 1985 | 2,134 | Resale |
| 5360 Pine Dove Dr | $562,900 | $195 | 2026-09-04 | 2026 | 2,890 | New |
| 3789 Meadow Vista Ln | $661,600 | $256 | 2026-09-03 | 2026 | 2,582 | New |
| 412 Ingleside Ave | $550,000 | $257 | 2026-09-03 | 1939 | 2,142 | Resale |
| 9737 Faraway Farm Road | $685,000 | $243 | 2026-09-03 | 2008 | 2,818 | Resale |
| 1308202190000 | $500,000 | $223 | 2026-09-03 | 2005 | 2,240 | Resale |
| 1491 Summerbrooke Dr | $629,900 | $243 | 2026-09-03 | 2026 | 2,589 | New |
| 6408 Mallard Trace Dr | $515,000 | $220 | 2026-09-03 | 1999 | 2,340 | Resale |
| 10931 Luna Point Rd | $520,000 | $243 | 2026-09-03 | 1995 | 2,136 | Resale |
| 2496 Mount Vernon Ln | $475,000 | $216 | 2026-09-03 | 2022 | 2,195 | Resale |
| 2496 Lantana Ln | $599,900 | $182 | 2026-09-03 | 2007 | 3,289 | Resale |
| 4370 Grove Park Dr Unit 1 | $420,000 | $214 | 2026-09-03 | 2005 | 1,962 | Resale |
| 3750 Shamrock W | $499,900 | $226 | 2026-09-01 | 1972 | 2,214 | Resale |
| 3175 Ferns Glen Dr | $550,000 | $168 | 2026-08-31 | 1979 | 3,268 | Resale |
| 2461 Elfinwing Ln | $580,000 | $252 | 2026-08-31 | 1999 | 2,300 | Resale |
| 2389 Sweet Valley Hts | $685,000 | $282 | 2026-08-31 | 2021 | 2,425 | Resale |
| 1628 Woodgate Way | $637,000 | $249 | 2026-08-31 | 1976 | 2,560 | Resale |
| 173 Bienville Pl | $435,000 | $232 | 2026-08-31 | 2024 | 1,876 | Resale |
| 2868 Royal Isle Dr | $852,000 | $287 | 2026-08-31 | 2003 | 2,968 | Resale |
| 6981 Duck Cove Rd | $1,200,000 | $392 | 2026-08-31 | 1984 | 3,062 | Resale |
| 1431 Summerbrooke Dr | $532,800 | $284 | 2026-08-31 | 2025 | 1,873 | New |
Recent Homes Listed For Sale
The properties below are the most-recently listed homes for sale in Tallahassee priced betweeen $400,000 and $500,000.
400K 500K Idx
400K 500K Idx
If you would like to know more about buying or selling a $400,000 to $500,000 home in Tallahassee while the market is still very strong and vibrant, simply drop me a note and we’ll be in touch right away.
