Search Listings

Tallahassee Condo Sales

Just a reminder that the 8th edition of the Tallahassee Real Estate Newsletter was published and emailed to subscribers this morning. If you would like to be on the subscription list, you can subscribe to the newsletter in the sidebar to the right.

You may have noticed that a large portion of the explosive growth seen in the Tallahassee real estate market over the past ten years came from condominium and townhouse sales. As the cost of land started growing in 2000, builders and developers adapted with smaller home sites and attached housing.

The graph below shows that while Tallahassee condo/townhouse prices have dropped about 10% from the peak of the market, unit sales have dropped significantly more. But unlike single family residential sales (which have dropped below previously recorded levels), condo and townhouse sales have returned to “pre-boom” levels.

Tallahassee Condo and Townhouse Sales

Condo Sales In Tallahassee

Scarcity Of Land Still Exists In Tallahassee MSA

With lot prices holding steady above $70K per lot, Tallahassee condo and townhouse prices presently have a solid floor. The short-run might see some home-site liquidation, but when normalcy returns to the market, the limited access to develop-able land inside of the services area will help keep valuations growing.

Location, Location, Location In Tallahassee

The return of valuation based upon location is not far away. Just as we see in the larger cities around the country, centrally located properties will again demand a premium in the future.

subscribe-to-the-exclusive-tallahassee-real-estate-newsletter

Subscribe in a reader Subscribe by email

As a reminder for those who subscribe to the Tallahassee Real Estate Blog by email, some embedded pictures and videos might not be appearing in your email and you might need to click the title header to go to your browser where all will be visible. Additionally, if you would like to respond (leave a comment) to this article, you will need to “click through” to the blog site to post your feedback.

Keep checking out the Tallahassee Real Estate Blog every day for updates that include charts, graphs, and analysis of the Tallahassee real estate market.
If you like this Article then please subscribe to my blog through a full RSS feed, or you can Subscribe by Email.You will be able to stay informed about the happenings in the Tallahassee Real Estate Market.
Joe Manausa is a real estate investor and the Broker and Co-Owner of Joe Manausa Real Estate. He can be reached via e-mail through the Tallahassee Real Estate Website or catch his latest writings on the Tallahassee Florida Real Estate Blog , or by calling (850) 386-2001.
NewsletterArchives MarketReportBlog
 View Joe Manausa's profile on LinkedIn

Please Do Us A Small Favor

We work very hard to produce daily content for our long-time readers and first-time visitors. We provide this information for free, hoping to earn your respect and trust and the right to one-day help you when selling or buying a home. Can we get your help spreading the word about our blog?

If you like the content, would you please like it or share it using the Facebook button at the beginning of the post? This simple action will be greatly appreciated! THANK YOU!

Please Like Us And Share On Facebook - Help us grow our brand!

Also like us on Facebook at https://www.facebook.com/joemanausarealestate/

Your Local Expert In Tallahassee

When moving to, in, or from Tallahassee, you will fare better if you work with a local expert. We are here to help. If you have further questions on the Tallahassee real estate market, you can leave a comment below, give us a call at (850) 366-8917, or drop us a note and we'll give you the local information needed to ensure a successful, smooth transaction.

As a local born and raised in Tallahassee with a focus on customer service, I promise you'll find great success when working with Joe Manausa Real Estate, just as have our past customers. You can read thousands of their reviews reported on Google, Facebook and Zillow right here: Real Estate Agent Reviews Tallahassee.

The digital marketing guide for small businessesHave you heard about my new book "The Business of Getting Business?" It's a comprehensive guide for small businesses to help them make the move to digital. For those of us who want to survive and thrive in a world where large corporations are taking over, it is a must-read. It's also the perfect guide for how to sell a home in the digital age. You can find The Business Of Getting Business by clicking on any of the trusted retailers below.

Real Estate Agent reveals in Tallahassee, Florida

Think all REALTORS are alike?

Read what people are saying about working with Joe Manausa Real Estate! You can see thousands of real customer reviews reported on Google, Facebook and Zillow at this link: CLICK HERE FOR REAL ESTATE AGENT REVIEWS.

Discussion

#1 By Doug at 7/11/2017 3:44 AM

Joe,
Not sure I quite understand this "condo and townhouse sales have returned to “pre-boom” levels." Is that referring to monthly sales volume or average sales price?

#2 By Joe Manausa at 7/11/2017 3:44 AM

Hey Doug, monthly sales volume.

#3 By Doug at 7/11/2017 3:44 AM

Joe,
Correct me if I'm wrong, but on the determination "condo and townhouse sales have returned to “pre-boom” levels." It just looks to me that they are not returning but heading down (looking at the chart). So if this is the case they are heading south of pre-boom levels, which could bring it on par with pre-boom residential levels (in time). Am i reading the graph wrong?

#4 By Matt - Colorado Luxury Real Estate at 7/11/2017 3:44 AM

That's quite a boom in Condo sales.

#5 By Joe Manausa at 7/11/2017 3:44 AM

Doug, you're 100% correct. We can't "call it" yet, because it hasn't happened, but it certainly looks like if the trend continues, it will be. One point in this though is that condos are doing better (as a whole) than the single family homes. Also, because of a somewhat limited land situation, they might have some bottom stability.

#6 By Doug at 7/11/2017 3:44 AM

Joe,
I wonder if the condo sales aren't skewed due to the downtown condo's. Quite a few new ones to the market....sales of units that were already committed to , years ago. Plus with sales numbers already low, it doesn't take many high priced condo's to to bump the sales price figures abnormally high.

#7 By Joe Manausa at 7/11/2017 3:44 AM

Doug, the downtown condos definitely pull the average higher, just as the foreclosures and short sales of the student rentals pull it lower.

Post a Comment

Blog Navigation

Posts By Category

All Categories Advice: Real Estate (495) Blogging Real Estate (187) Distressed Property (32) Foreclosures (4) Glossary of Real Estate Terms (33) Government and Real Estate (31) Homes For Sale (156) Housing Market Conditions (1265) Housing Report (54) Lis Pendens (4) Main (1018) Mortgage / Finance (74) New Construction (19) Off Topic (87) Our Listings (3) Our Sales (7) Real Estate Market Snapshot (26) Real Estate Opinion (3) REALTOR News (11) Tallahassee (90) Tallahassee Neighborhoods (632) 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 Golden Eagle Plantation 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 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
1934 Dellwood Drive
Tallahassee, FL 32303
(850) 366-8917