Every year in the Spring, we see the rush of home sellers arrive in the Tallahassee real estate market.
It makes you wonder, is this the best time of year to sell a home?
Time To Sell Your Home In Tallahassee
One way to determine the answer regarding the time to sell your home in Tallahassee is to evaluate what past home buyers and home sellers have done.
The graph below was assembled from home sales that occurred since the beginning of last year, but that also went under contract last year. It compares the number of purchase agreements written each month with the number of homes for sale in Tallahassee at that time.
In other words, it identifies the percentage of existing inventory that was sold each month last year.
Last night was the annual "Dancing With The Stars" Oxygen Ball, a fundraiser presented by the American Lung Association In Florida.
Michelle and I want to thank everybody who voted for Michelle and gave money to such a worthy cause, every dollar helps.
2016 Oxygen Ball Champion
I might be a little biased, but I believe Michelle rocked it last night!
Here's a video of her performance.
If you head out Mahan Drive on the east side, just short of Capital Circle, you'll find the Meadowbrook neighborhood.
Loaded with 3 and 4 bedroom homes near the median price point for single family homes, Meadowbrook got off to a very fast start last year.
Of the 11 homes sold last year in this popular NE Tallahassee neighborhood, 9 were closed before the end of the first quarter.
As of this writing, there have been two homes sold and closed in Meadowbrook, and there are four currently on the market (with two already under contract).
Homes that are priced correctly in Meadowbrook are in high demand and sell right away, so if you find one you like and you know it's a good value, don't let it slip away to another buyer.
Both families and investors alike should consider Meadowbrook an...
Cameron Chase is a small but popular neighborhood that benefits from its location as the southern boundary of Killearn Estates.
A relatively new community, Cameron Chase began home sales in 2002 and quickly sold through all 131 homes within 3 years.
While rapid sales is what every developer seeks, it does create an interesting situation for the existing homeowners.
As everybody moved into Cameron Chase at roughly the same time (3 year window), it is highly probable that many will want to sell within a fairly tight window of time as well. This could cause a rush of inventory to the market and depress the recovery in the neighborhood.
While this is possible, it is far more likely that our recovering market will happily absorb any pent-up supply, as buyers are seeking newer homes at used-home prices...
Today's report on Arbor Hill is a combination of "we told you so" and "there's still time left."
Both first time homebuyers as well as real estate investors who want premium properties located in NE Tallahassee need to have this neighborhood on their radar.
In case you don't know about Arbor Hill, it is located on the southern border of Killearn Estates and thus has location, location, and location working for it.
First time homebuyers will love the fact that they can get a single family detached home and a yard for less than $150,000, while investors will appreciate the fact that they can buy an income producing property in the Montford Middle School (Lincoln High School) zone for under $100 per square foot.
In this report, we will look at home prices, home values, and home sizes in Arbor Hill, as well as show current...
The Villages at Maclay is a 250 home community nestled behind the Village Commons Shopping Center.
You can find it on the west side of Thomasville Road, north of the interstate and just south of Maclay Gardens.
This popular NE Tallahassee neighborhood contains both single family detached homes and townhomes, so there is something for everybody in the current price range from the mid $100Ks to the mid $200Ks.
Most of the homes contain the some of the features and amenities today's buyers are seeking, as these homes have all been built within the past twenty years.
In this report, we will look at average home price trends, home value trends, and home size trends of homes sold in the Villages At Maclay, as well as all current listings in the ...
If you are working with a Realtor to buy a home in Tallahassee, then it's likely that she has recommended you work with a certain lender or two.
Equally important, she's probably warned you not to work with a certain type of lender too. Do you want to know why?
First of all, seventy percent of people who will buy a home in Tallahassee this year will borrow the majority of the money they need for the purchase. Unfortunately, most will not consider choosing the lender to be a big deal, and they will treat the loan as an after-thought after they have begun looking at homes.
Because of this, they will...
Hampton Creek, on the Southeast side of the Tallahassee real estate market, is a newer community that contains a mix of single family detached homes and townhomes, with prices very near the median in Leon County.
Roughly 220 homes we constructed over the past ten+ years. With many people buying the properties at one time (which coincided with the peak of the housing market), we must be concerned that this will leave too many owners wanting to move at roughly the same time. This threat of pent-up supply is highly likely to occur over the next five years.
Hampton Creek is located on Apalachee Parkway just beyond Conner Blvd., and current residents find its convenience to town and like-new homes both great reasons for living here.
In this report, we will look at long term average home price trends, value trends, and size...
Eastgate is a popular NE Tallahassee neighborhood, situated between midtown and Killearn Estates.
This means that Eastgate is close to dining, shopping, and Tallahassee's most-active transportation routes.
During our last housing report on Eastgate, we pointed out that 2015 would record a slower rate of sales in 2015 after the record-setting year that was posted in 2014, and that is exactly what happened.
Readers should not mistake this reduction in sales for lack of interest, it's just the natural reaction to a hugely active year in a smaller neighborhood.
In this report, we will look at average home prices, average home values, and average home sizes in Eastgate, as well as show current listings in the ...
As the State of Florida puts the housing crisis behind it, Tallahassee still struggles to return to its normal rate of home sales.
There are several reasons why Tallahassee trails the rest of the State in the housing recovery, but the primary problem can be stated in a single word.
Fewer People Moving To Tallahassee
The US Census reports that Tallahassee's rate of growth (historically low and slow) has declined since 2000. Fewer people moving here means a decreased need for new homes.
When we compare home sales to the overall population, we find that Tallahassee, on average, sells an amount of homes equal to about 2.1% of the size of Leon County’s population.
This measurement serves as a good rule of thumb for what our non-cyclical expectations should...