Important News For Tallahassee Condo Owners
If you own a Tallahassee Condo (and are not a developer), then you need to know about a new disclosure that you are required to provide for prospective buyers, effective January 1, 2009. This five page condo disclosure from the Department of Business and Professional Regulation (DBPR) details the rights and responsibilities of condominium boards and unit owners, voting rights and responsibilities, meeting notices, and other governance matters.
While disclosure's have been required in the past, this actual form must be utilized in for Florida condominium resales in order to insure that condo buyers are being given the information that they need to know about their potential purchase.
Tallahassee Condo Sales Sluggish
Like the rest of the market, Tallahassee condominiums have an abundance of supply in much of the Tallahassee real estate market. The following table shows that overall, there are over two years supply of condos for sale in Tallahassee, with the bulk of the supply above the $200,000 price range. With all the new money for first-time homeowners, I suspect inventory will begin moving again this Spring for the price ranges below $200,000.
Tallahassee Condo Market Figures
When we look at what has sold versus condos for sale in Tallahassee, it appears that there is a wide discrepancy between what buyers are willing to pay and what condo owners are asking for their units. The following table is just a snapshot of the overall Tallahassee Condo market, with sales from all of 2008.
Tallahassee Condo Values
Based upon what we have seen for the past year, the average Tallahassee condo is selling for just under $200,000. A new Tallahassee condo should sell for about $157 per square foot, while existing condo units should sell for around $111 per foot. Now these numbers are gross over-simplifications, but it should give you a good rule of thumb when beginning the planning stage for buying a condo in Tallahassee.
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Supply Of Condominiums In Tallahassee
| Condominium | For Sale | Sold | Months Supply |
| Adams Place Condominium | 2 | 1 | 24.0 |
| Adams Place Condominiums | 2 | No Sales | |
| Adams Street Lofts | 5 | 13 | 4.6 |
| Adams Street Lofts Condo | 4 | No Sales | |
| All Saints | 1 | No Sales | |
| ASHLEY HALL | 4 | No Sales | |
| Aston Ridge | 3 | No Sales | |
| ATALANTIS 1-D | 1 | 0.0 | |
| ATLANTIS 1-A | 1 | No Sales | |
| Atlantis 1-E | 2 | 0.0 | |
| Atlantis II Condo | 1 | No Sales | |
| Barington Park | 1 | No Sales | |
| Barrington Park | 2 | 5 | 4.8 |
| Barrington Park Condominiums | 2 | No Sales | |
| Brighton Place | 17 | 4 | 51.0 |
| Brighton Place Condominiums | 2 | 0.0 | |
| Brookwood Trace | 2 | No Sales | |
| Brookwood Trace Condominiums | 3 | 1 | 36.0 |
| Camellia Gardens | 5 | 1 | 60.0 |
| CAMELLIA GARDENS CONDOMINIUMS | 1 | 0.0 | |
| Carolina Terrace | 1 | 0.0 | |
| Carolina Terrace Condo | 1 | No Sales | |
| Castelnau Condominiums | 1 | No Sales | |
| Castelnau Condos | 1 | 1 | 12.0 |
| Cedarbrook | 7 | No Sales | |
| Chadeau De Ville | 1 | No Sales | |
| Charleston Ridge | 6 | 3 | 24.0 |
| Chase's Run | 1 | No Sales | |
| Chases Run Condominium | 1 | No Sales | |
| Chases Run Condominiums | 1 | No Sales | |
| CHASE'S RUN CONDOMINIUMS | 1 | No Sales | |
| Chateau De Ville | 4 | 2 | 24.0 |
| Chez Sois | 2 | No Sales | |
| City Cove Condominium | 1 | 1 | 12.0 |
| Cloisters | 3 | 2 | 18.0 |
| Cloisters of All Saints | 8 | No Sales | |
| Continental oaks Unit II | 1 | No Sales | |
| Cottages of Miccosukee | 8 | 3 | 32.0 |
| Crescent Hills Condominiums | 1 | 0.0 | |
| Crescent Hills Phase 2 | 1 | No Sales | |
| Cross Creek | 1 | No Sales | |
| Cumberland Forest | 2 | 6 | 4.0 |
| Cumberland Forest Condominiums | 4 | 1 | 48.0 |
| Duval Court | 3 | 0.0 | |
| Duval on the Green | 7 | 2 | 42.0 |
| Eagle Pines | 1 | No Sales | |
| Eagle Pines Condominium | 1 | No Sales | |
| EMBASSY HOUSE | 2 | 0.0 | |
| EVERGREEN TERRACE CONDO | 1 | No Sales | |
| Evergreen Terrace Condos | 1 | 1 | 12.0 |
| FAIRWAY VIEW CONDO | 1 | 0.0 | |
| Golf Course Condos | 1 | No Sales | |
| Governors Inn | 1 | No Sales | |
| Gpvernors Inn | 1 | No Sales | |
| Hartsfield Green | 1 | 2 | 6.0 |
| Hartsfield Green Condominium | 1 | No Sales | |
| Hartsfield Place | 1 | No Sales | |
| Hartsfield Place Condominium | 1 | 0.0 | |
| Hartsfield Place Condos | 1 | 0.0 | |
| Indian Village Unrecorded | 1 | No Sales | |
| KENILWOOD | 1 | No Sales | |
| Kenilwood Townhouses 1 | 1 | 0.0 | |
| LAFAYETTE TOWN HOMES | 2 | No Sales | |
| Lafayette Townhomes | 1 | 1 | 12.0 |
| Lexington Woods | 1 | 3 | 4.0 |
| Lexington Woods Condominiums | 2 | 0.0 | |
| Lions Condominium | 1 | 0.0 | |
| Majestic Oaks Condominums | 1 | No Sales | |
| Midtown @ Meridian Condos | 1 | 0.0 | |
| Midtown at Meridian | 1 | No Sales | |
| Midtown at Merdiian | 1 | 0.0 | |
| Midtown at Meridian | 1 | No Sales | |
| Midtown at Meridian Condo | 1 | 0.0 | |
| Midtown at Meridian Condos | 2 | 1 | 24.0 |
| Mission Overlook | 1 | 6 | 2.0 |
| Mission Run Condominiums | 1 | 0.0 | |
| Morningside Heights Re Sub | 8 | No Sales | |
| Mystic Woods Condominiums | 11 | 11 | 12.0 |
| Palms West Condominium | 1 | 1 | 12.0 |
| Palms West Condominiums | 2 | No Sales | |
| Park at Stonebriar | 1 | 2 | 6.0 |
| Park Avenue Condo | 1 | No Sales | |
| Plantation Condominiums | 1 | 0.0 | |
| Plaza Tower | 100 | No Sales | |
| Renegade Condominiums | 9 | 8 | 13.5 |
| Reservations | 1 | No Sales | |
| Reservations Condominums | 1 | 0.0 | |
| RESIDENCES AT WHISPERING PINES | 1 | No Sales | |
| Savannah Crossing | 7 | 11 | 7.6 |
| Savannah Crossing Condominium | 2 | 0.0 | |
| Seminole Legends | 1 | 2 | 6.0 |
| SEMINOLE LEGENDS CONDOMINIUMS | 1 | No Sales | |
| St. Andrews | 2 | No Sales | |
| Stonebridge | 2 | No Sales | |
| SUMMERCHASE | 12 | 19 | 7.6 |
| SummerChase Condos | 1 | No Sales | |
| Tallahassee Center Condo | 21 | 6 | 42.0 |
| TALLAHASSEE CENTER CONDOMINIUM | 1 | No Sales | |
| The Atrium | 1 | 0.0 | |
| The Lakes | 4 | 1 | 48.0 |
| The Residences at Whispering P | 1 | No Sales | |
| The Tennyson | 16 | 2 | 96.0 |
| THE VILLAGE CONDOMINIUMS | 7 | 4 | 21.0 |
| THREEZEROTWO CONDOMINIUM | 1 | No Sales | |
| Timber Ridge | 2 | No Sales | |
| Timberwood Townhomes Condo | 1 | No Sales | |
| TYSON GREEN | 5 | No Sales | |
| UNIVERSITY GREEN | 4 | 13 | 3.7 |
| Villas | 1 | 0.0 | |
| WATERBROOK CONDOMINIUMS | 1 | 3 | 4.0 |
| Westwood Condominiums | 8 | 6 | 16.0 |
| Winewood South | 4 | 0.0 | |
| Woodridge Condominiums | 4 | 2 | 24.0 |
| Grand Total | 378 | 187 | 24.3 |
| * Source: Tallahassee Board of REALTORS MLS | |||
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