Real Estate Sales Grow 8.4 Percent In Central North Florida
The number of real estate sales in Central North Florida recorded in the Tallahassee MLS in 2014 rose by 8.4% over 2013, the fourth consecutive year of gains. The areas covered in this report include Leon County, Gadsden County, Jefferson County, Madison County, and Wakulla County.
While we do not often report on "all sales in the area," I think it is something worth examining twice a year or so to get a feel for the activity in the area that includes the Tallahassee real estate market.
The central section of North Florida is a market that will likely explode within the next 30 years, when North Florida finally undergoes the transformation that occurred in South Florida over the past 50 years.
Year Over Year Real Estate Report
The following real estate graph provides an excellent picture of the real estate recovery in Central North Florida. The green bars show the total number of closed sales each month (measured on the left vertical axis), while the red bars measure the year over year change that has occurred (measured on the right vertical axis).
It is important to note that the data in this graph is far less refined than what we normally provide and should not be taken as an absolute measurement of the market. A more thorough analysis breaking-down each property type and county would be necessary if one wanted to really gain a grasp of the strength of the markets surrounding Tallahassee.
It includes every/any property type in the Tallahassee MLS (lots, mobile homes, multifamily, auctions, businesses, commercial, office, industrial, retail, land, shopping centers, condo, townhouse, and single family detached homes) so the results should be received with this knowledge in mind.
Nevertheless, this is still good news, as 9 out of the past 12 months have shown gains in sales when compared to their corresponding months a year prior.
The fact that our surrounding areas are recovering is good news for the Tallahassee real estate market, as any area that struggles will have falling values and thus will attract some of the demand away from Tallahassee. For our values to continue to recover, we need health across our region.
If you want to know more about how the market in Central North Florida is impacting the value of your home, why not check out our property valuation service and we'll let you know (no strings attached) what you would likely be able to get in the 2015 real estate market.