Search Listings

Memorial Day Report On Tallahassee Real Estate

Happy Memorial Day Tallahassee.

For all our readers that are foregoing the beach today in order to buy a home in Tallahassee, we have provided a quick market overview.

While this summary will give you an important understanding of the current price and value trends in Tallahassee, it is by no means a substitute for a highly trained real estate buyer's agent.

Take heed, working with an expert will save you money.

Memorial Day Home Prices

Whether you are looking to buy a condominium, a townhouse, or a single family home, it is important to understand current price trends so you know how to negotiate with the home seller.

Tallahassee House Prices

Currently, price trends are declining slightly for single family homes and townhouse, while condominium prices appear fairly flat.

You will note that condominium and townhouses are both averaging below $100,00, while single family homes are more than double the cost.

When you lump all three property types together and compare distressed properties with arms length sellers, we see a similar divide.

Home Prices In Tallahassee

There is nearly a $100,000 difference between the average home price for an arms length home for sale versus the average distressed home for sale.

Home Values In Tallahassee

When we look at home value trends in Tallahassee, we find a slightly different picture. Condominiums are valued significantly higher (on average) than are townhouses, and they split the difference between townhouses and single family detached homes.

Tallahassee Home Values

And when we separate the short sales, foreclosures, pre-foreclosures, and bank-owned properties from the arms length homes for sale, we find an interesting trend.

Home Values In Tallahassee

Home values are declining slightly right now for arms-length sellers, but distressed property values are on the rise. I suspect this was to be expected as the market strengthens. Distressed property liquidators enjoyed the rebound started in 2013 and are now holding on for better buyer contracts.

Home Sales Volume Declining

The number of homes selling has been on the decline recently. Home sales rebounded nicely in 2013, and year to date we are ahead of last year, but the current level of buyer activity has declined greatly.

Tallahassee Home Sales

Inventory has risen and will present great opportunities for homebuyers who know what they are doing.

Distressed properties still make up a third of the market, so arms length home sellers are competing with lenders who have a great interest in getting their homes sold, any nearly any cost.

Home Sales In Tallahassee

Well informed homebuyers can take advantage of this opportunity in the market, and it won't last forever.

Coupled with low interest rates, now is a great time to find a super deal in the Tallahassee real estate market.

Arm Yourself With The Best

Too many homebuyers get stuck working with an "available" agent, or one who "comes with the house."

Don't make this costly homebuyer mistake. Instead, hire a real estate buyer's agent to make sure you get a great deal. Your agent will be paid by the home seller, so it is crazy not to ensure you have the best, well informed Realtor working for you.

If you would like to meet a great buyer's agent on Memorial Day (or any other day), just drop me a note and we can schedule a time to help you see the best deals in Tallahassee.

Post a Comment

Blog Navigation

Posts By Category

All Categories Advice: Real Estate (488) Blogging Real Estate (189) Distressed Property (31) Foreclosures (4) Glossary of Real Estate Terms (31) Government and Real Estate (30) Homes For Sale (131) Housing Market Conditions (1241) Housing Report (54) Lis Pendens (4) Main (1025) Mortgage / Finance (71) New Construction (1) Off Topic (85) Our Listings (3) Our Sales (7) Real Estate Market Snapshot (26) Real Estate Opinion (3) REALTOR News (11) Tallahassee (90) Tallahassee Neighborhoods (504) Uncategorized (50)

Posts By Month

Blog Roll

Luxury Homes For Sale New Construction Homes For Sale Homes For Sale With Swimming Pools Homes For Sale On Acreage Homes For Sale In Killearn Lakes Plantation Homes For Sale In Killearn Estates Homes For Sale In Southwood Homes For Sale In Killearn Acres Homes For Sale In Summerbrooke Homes For Sale In Golden Eagle Plantation Homes For Sale In Piney Z Homes For Sale In Bull Run Homes For Sale In Betton Homes For Sale In The Ox Bottom Area

Tag Cloud

Grab Our RSS Feed

Tallahassee Home Searches

Contact Us

Joe Manausa Real Estate
2066 Thomasville Rd
Tallahassee, FL 32308
(850) 366-8917