Housing Costs In Most Popular Tallahassee Neighborhoods
Have you ever wondered what it costs to buy a home in some of the most popular Tallahassee neighborhoods?
The Tallahassee real estate market has undergone significant change over the past ten years, so it is easy to think of some areas of town to be priced beyond your means, but today's report might just shed some light on the affordability that you will find nearly everywhere these days.
Most Popular Tallahassee Neighborhoods
First of all, the method that I used to determine the "popularity" of any given place in town was simply based upon the number of recorded home sales in each subdivision in Tallahassee. I then selected an amount that made for easy and informative viewing in a simple visual graph.
In the real estate graph above, the number of homes sold in 2013 for each subdivision is shown as a black column (recorded on the left vertical axis), while the average sales price is shown as a purple shaded column (recorded on the right vertical axis).
Southwood was the most popular neighborhood in Tallahassee with 140 homes sold at an average price of $292,843. Golden Eagle Plantation was the highest priced neighborhood of the group, with 47 homes sold for an average price of $411,348.
What You Get For Your Money
When we look at the same neighborhoods but factor in home values, we generate a graph that looks a little bit different. Using the same method of report values (as we did above for reporting average home prices), the graph below shows the average price per square foot for homes sold in each of the most popular Tallahassee neighborhoods.
The real estate graph above allows you to compare affordability across these most active subdivisions. For example, the average home sale in Killearn Estates was a 2,190 square foot home, selling for $102 per square feet ($223,950). This compares with the newer homes in Killearn Lakes Plantation where the average home is smaller at 1,848 square feet, selling for $113 per square foot ($209,129).
So I hope these two graphs give you a good idea of where people are moving in Tallahassee, how much they are paying, and what kind of value they are receiving for their money.
If you have a home to sell and want to know exactly what you can get for it (whether or not you are in one of the most popular Tallahassee neighborhoods), just drop me a note and we can schedule a time to look at your home and give you an opinion of value.