Luxury Home Market Has Much To Offer
Whether you call them luxury homes, estate homes, or high-end homes, the top of the Tallahassee real estate market leads the way when it comes to an oversupply of homes for sale in Tallahassee. Currently, there are 140 luxury homes for sale in Tallahassee, and last year sales of these high end homes finished with just 51 recorded in the Tallahassee MLS. At last year's rate of sales, the inventory of homes priced over $500,000 in Tallahassee is awash with 33 months of supply.
Luxury Homes For Sale In Tallahassee
When we look at the graph of luxury homes for sale in Tallahassee, we see average asking prices that start from nearly $200 per square foot and run as high as $400 per square foot. One odd fact to note is that the average asking price for homes in the 2500 to 3000 square feet range is lower than homes in the 2000 to 2500 square foot range. Most of these homes are going to fail to sell, and many home sellers are asking "why is my home not selling?"
Why Your Luxury Home Is Not Selling
Annual Luxury Home Sales
The annual luxury homes sales graph below shows that buyers in the high-end of Tallahassee home prices are waiting for better deals. When we observe luxury home sales from 2003 to present, average prices are far below the $200 price per foot starting point that we see in the active list of high-end homes for sale.
Ultimately, if you want to sell a luxury home in Tallahassee, you have a ton of competition and you need to set yourself apart. A proper competition review combined with a progressive internet marketing campaign can help optimize the conditions for selling a home in a market that is fighting a backlog of homes for sale.
Recent Luxury Home Sales In Tallahassee
| Property Address | Sales Price | Original Asking Price | Sales Price Ratio | Closing Date |
|---|---|---|---|---|
| 3010 Thomasville Road | $950,000 | $1,600,000 | 59% | 3/10/2011 |
| 2019 Marne Court | $775,000 | $775,000 | 100% | 2/28/2011 |
| 3198 Dunbar | $525,000 | $525,000 | 100% | 2/25/2011 |
| 1232 Stonehurst Way | $675,000 | $699,000 | 97% | 2/25/2011 |
| 3254 Belle Meade Trail | $704,000 | $725,000 | 97% | 2/16/2011 |
| 12600 LAUREL HILL DR | $615,000 | $775,000 | 79% | 2/16/2011 |
| 6288 Heartland Circle | $650,000 | $685,000 | 95% | 1/31/2011 |
| 3166 Dunbar Lane | $506,099 | $500,000 | 101% | 1/28/2011 |
| 3613 Mossy Creek Way | $659,000 | $659,000 | 100% | 1/28/2011 |
| 1365 Constitution Circle | $570,000 | $675,000 | 84% | 1/14/2011 |
| 1281 Penny Lane | $710,000 | $725,000 | 98% | 1/6/2011 |
| 165 ROSEHILL DR WEST | $835,000 | $975,000 | 86% | 12/29/2010 |
| 9805 Waters Meet Drive | $549,000 | $649,000 | 85% | 12/16/2010 |
| 1334 Preakness Point | $500,000 | $575,000 | 87% | 12/15/2010 |
| 7728 EVENING STAR LN | $570,000 | $600,000 | 95% | 12/10/2010 |
| 1808 Ox Bottom Lane | $740,000 | $849,000 | 87% | 12/10/2010 |
| 7131 Nesters Drive | $570,000 | $619,900 | 92% | 11/18/2010 |
| 6378 Ox Bow Run | $570,907 | $539,900 | 106% | 11/12/2010 |
| 1316 Live Oak Plantation Rd | $555,000 | $880,000 | 63% | 11/12/2010 |
| 9015 WINGED FOOT DR | $745,000 | $782,500 | 95% | 11/1/2010 |
| 3794 PINEY GROVE DR | $550,000 | $625,000 | 88% | 10/28/2010 |
| 8914 Hickory woods Trail | $560,000 | $560,000 | 100% | 10/4/2010 |
| 1014 Waverly Road | $535,000 | $540,000 | 99% | 9/15/2010 |
| 3187 Dunbar | $690,000 | $690,000 | 100% | 9/9/2010 |
| 9688 Deer Valley Drive | $575,000 | $595,000 | 97% | 9/9/2010 |
| 2695 Miller Landing Road | $700,000 | $875,000 | 80% | 9/3/2010 |
| 9268 White Blossom Way | $650,000 | $795,000 | 82% | 8/31/2010 |
| 584 Frank Shaw Road | $750,000 | $1,800,000 | 42% | 8/31/2010 |
| 5986 Colonel Scott Drive | $549,000 | $549,000 | 100% | 8/6/2010 |
| 7465 Heartland Circle | $950,000 | $1,495,000 | 64% | 7/30/2010 |
| 2610 Millstone Plantation Road | $600,000 | $600,000 | 100% | 7/27/2010 |
| 3682 MOSSY CREEK Lane | $785,000 | $850,000 | 92% | 7/22/2010 |
| 1781 Marston Place | $525,000 | $525,000 | 100% | 7/20/2010 |
| 3793 Chanticleer Court | $510,000 | $525,000 | 97% | 7/20/2010 |
| 3640 Mossy Creek | $800,000 | $925,000 | 86% | 7/20/2010 |
| 5068 Centennial Oaks Circle | $600,000 | $615,000 | 98% | 7/16/2010 |
| 6617 Lake Pisgah Drive | $779,000 | $1,145,000 | 68% | 7/15/2010 |
| 1403 Rachel Lane | $600,000 | $729,900 | 82% | 7/9/2010 |
| 3737 BOBBIN BROOK EAST | $750,000 | $949,000 | 79% | 7/9/2010 |
| 121 N Monroe Penthouse 2 | $500,000 | $1,299,000 | 38% | 7/7/2010 |
| 3027 Golden Eagle Drive East | $760,000 | $760,000 | 100% | 7/1/2010 |
| 3233 PINEBROOK CT | $670,000 | $725,000 | 92% | 7/1/2010 |
| 6537 HEARTLAND CIRCLE | $830,000 | $1,295,000 | 64% | 6/29/2010 |
| 9030 SHOAL CREEK DR | $625,000 | $816,000 | 77% | 6/15/2010 |
| 2047 CHIMNEY SWIFT HOLLOW | $775,000 | $825,000 | 94% | 6/1/2010 |
| 2692 Breton Ridge Drive | $550,000 | $750,000 | 73% | 6/1/2010 |
| 8089 Longmeadow Lane | $537,500 | $625,000 | 86% | 5/28/2010 |
| 8499 CONGRESSIONAL DR | $720,000 | $735,000 | 98% | 5/14/2010 |
| 3356 Charleston Road | $682,000 | $725,000 | 94% | 5/14/2010 |
| 4536 Grove Park Drive | $695,000 | $699,500 | 99% | 5/4/2010 |
| 9640 DEER VALLEY | $750,000 | $850,000 | 88% | 5/3/2010 |
| 3631 Mossy Creek Lane | $685,000 | $695,000 | 99% | 4/28/2010 |
| 2035 Chimney Swift Hollow | $715,000 | $725,000 | 99% | 4/14/2010 |
| 974 Bellflower Court | $500,000 | $825,000 | 61% | 4/13/2010 |
| 8018 Susan Bradford Lane | $800,000 | $875,000 | 91% | 3/23/2010 |
| 2115 E Randolph Circle | $700,000 | $730,000 | 96% | 3/16/2010 |
| 6036 HEARTLAND CIR | $550,000 | $850,000 | 65% | 3/15/2010 |
| 3134 BARINGER HILL | $551,200 | $699,000 | 79% | 3/8/2010 |
| 1385 White Star Ln | $1,335,000 | $1,900,000 | 70% | 2/26/2010 |
| 548 HIGH OAKS COURT | $680,000 | $695,000 | 98% | 2/12/2010 |
| 2450 Bass Bay Drive | $550,000 | $575,000 | 96% | 1/28/2010 |
| 1235 SKIP WELLS COURT | $668,000 | $668,000 | 100% | 1/20/2010 |
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