The first quarter of the year is nearly over and due to seasonal influences, we’ve likely seen 20% of this year’s home sales already closed.
We often have people asking us “how is the market,” so today’s report shows the current state of the Tallahassee housing market in terms of home prices, home values, and home sizes.
Before we hit the report, take a look at the newest listings of homes for sale in Tallahassee. The report continues after the listings.
New Listings In Tallahassee
Just Listed Homes For Sale
Today’s housing update will include 3 graphs. Each one will evaluate the middle of the market (median) as it gives us a perspective of the direction of market movement. Each of our graphs will segment single-family detached homes, townhouses, and condominiums.
Median Home Price In Tallahassee
The first quarter of home sales in Tallahassee has brought us increasing median prices in all home types.
There are several interesting trends that we see in the graphic above. First is the apparent meandering condominium price trend (dashed line). You might wonder why it fluctuates so greatly and so often.
There are two primary reasons for this: Low-liquidity and the downtown market. There are relatively few condominium sales in Tallahassee when compared to townhouse sales and single-family detached home sales, and the downtown market is significantly different in price when compared to all other Tallahassee condominiums. Thus when the downtown market represents a great percentage of condo sales, then we see the median shoot higher. Conversely, when the downtown market is quiet, the median price plummets. Currently, the downtown market is quiet.
Another interesting trend can be seen among single-family detached homes (red line). Unlike condominiums and townhomes, the median price of detached homes has posted a new all-time high. This suggests that people are paying more for homes than ever before.
Median Home Value In Tallahassee
The median home value in Tallahassee is measured as the middle price per square foot of all homes sold in Tallahassee each year.
Look at how closely all three property types were valued from 2003 through 2008, then look at how they have segmented since that time. The difference between detached homes (red line) and the attached homes (blue and dash light blue) remains significantly further apart than they were before the market peaked in 2003 through 2006.
Right now, primarily due to low mortgage interest rates and depressed home prices from the crash of the market, buyers have favored single-family detached homes in the price ranges where both are available. As prices continue higher, it will exclude many buyers who will be forced into the attached-home market. Because of this, expect attached homes to increase at faster rates than detached homes for the foreseeable future.
The influence of the downtown market explains the noise in the condominium sales data, but it does not explain the recent decline in condo values. I suspect that with the glut of condominiums in the downtown market has created this noise and will continue to do so until the market reaches equilibrium with condo inventories.
If you are in the market for a smaller home or one on a smaller parcel of land, don’t ignore the possible deals you might find among the townhomes for sale.
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Median Home Size In Tallahassee
The median home size in Tallahassee is important to track because it often explains the unparalleled movements of prices and values. In the future, down at the neighborhood level, median and average home sizes will alert us to neighborhoods that are transforming through renovations and modernizations.
As expected this graph helps explain the two previous ones. For example, the median condo size this year has shot up 5%, while condo values have declined by 5%.
As a general rule, smaller units will sell at higher prices per square foot due to the fact that the more expensive components of each condo end up being divided by fewer square feet. For example, an expensive kitchen in a small condo unit impacts the overall price per square foot far more than the same kitchen would in a larger unit.
Recent Home Sales In Tallahassee
The following table shows the most recent 1,000 homes sold. You can sort the table by any column header if you desire to do so.
Recent Tallahassee Home SalesAddress Price Price / SQF Closing Date Year Built SQF Sale Type 4034 Delvin Dr $379,000 $218 2026-10-09 1973 1,740 Resale 998 Rosebay Court $950,000 $261 2026-10-09 1986 3,633 Resale 2128 Wembley Way $295,000 $212 2026-10-09 1980 1,391 Resale 3917 Ardmore Ln $600,000 $252 2026-10-09 2026 2,378 New 487 Grand Oaks Rd $405,000 $225 2026-10-09 2023 1,804 New 2316 Cobb Dr $615,000 $198 2026-10-09 2000 3,104 Resale 6429 Jet Pilot Trl $260,200 $151 2026-10-09 1986 1,718 Resale 8605 Coach Rd $560,000 $193 2026-10-09 1981 2,908 Resale 300 S Duval St $217,000 $309 2026-10-09 2009 703 Resale 9526 Old Woodville Rd $180,000 $158 2026-10-09 1967 1,140 Resale 2705 Roberts Ave $115,000 $93 2026-10-09 2002 1,232 Resale 1306 Leewood Dr $467,500 $259 2026-10-08 1964 1,807 Resale 5431 Water Valley Ct $255,000 $237 2026-10-08 1992 1,076 Resale 3399 Mizell St $290,000 $223 2026-10-07 2026 1,301 New 1823 Tyndall Dr $182,500 $195 2026-10-07 1959 934 Resale 3111 Brockton Way $315,000 $253 2026-10-06 1983 1,246 Resale 1574 Goodwood Dr $310,000 $185 2026-10-06 1976 1,679 Resale 9570 Starhawk Dr $550,000 $189 2026-10-06 2001 2,907 Resale 4186 Ridge Haven Rd $208,000 $162 2026-10-06 2006 1,286 Resale 3113 Shannon Lakes N $455,000 $205 2026-10-05 1986 2,222 Resale 4349 Camden Rd $300,000 $144 2026-10-05 1984 2,086 Resale 2463 Tippecanoe Rdg $345,000 $219 2026-10-05 2018 1,574 Resale 1575 Paul Russell Rd Apt 5010 $220,000 $129 2026-10-05 2005 1,705 Resale 844 Brookwood Dr $407,500 $237 2026-10-02 1958 1,716 Resale 415 Williams St Apt B $261,000 $183 2026-10-02 1984 1,428 Resale 6704 Johnstown Loop $340,000 $180 2026-10-02 1984 1,888 Resale 6708 Chant Trl $335,000 $242 2026-10-02 1979 1,386 Resale 5161 Holly Fern Trce $455,000 $242 2026-10-02 2016 1,879 Resale 10564 Lake Iamonia Dr $504,000 $238 2026-10-02 1993 2,121 Resale 756 Rhoden Cove Rd $596,000 $195 2026-10-02 1985 3,051 Resale 2788 Summer Meadow Dr $280,000 $146 2026-10-02 2006 1,922 Resale 215 W College Ave Apt 903 $300,000 $270 2026-10-02 2006 1,112 Resale 7512 Talley Ann Dr $240,000 $218 2026-10-02 1981 1,103 Resale 6051 Flintlock Loop $392,500 $232 2026-10-02 1990 1,692 Resale 2933 Tipperary Ct $395,000 $206 2026-10-01 1971 1,921 Resale 2544 Centerville Ct $222,000 $178 2026-10-01 2000 1,244 Resale 1489 Vieux Carre Dr $696,000 $288 2026-10-01 2002 2,415 Resale 2938 Abbotsford Way $500,000 $181 2026-10-01 1978 2,757 Resale 540 Bienville Pl $687,900 $238 2026-10-01 2026 2,890 New 241 Old Dirt Rd $399,000 $168 2026-10-01 1971 2,368 Resale 1653 Copperfield Cir $439,000 $214 2026-10-01 1992 2,054 Resale 5050 Velda Dairy Rd $797,000 $259 2026-10-01 1979 3,072 Resale 2801 Chancellorsville Dr Unit 934 $131,000 $120 2026-10-01 2004 1,096 Resale 5188 Holly Fern Trce $599,500 $245 2026-10-01 2017 2,447 Resale 6311 Bird Dog Pt $1,100,000 $349 2026-10-01 2014 3,151 Resale 3400 Old Bainbridge Rd Apt 402 $155,000 $113 2026-10-01 2004 1,368 Resale 300 S Duval St $310,000 $261 2026-10-01 2009 1,186 New 1334 Kings Dr $164,000 $186 2026-10-01 1983 882 Resale 415 Saint Francis St Apt 138 $307,000 $341 2026-10-01 2007 900 Resale 2348 Ryan Pl $215,000 $181 2026-09-30 1983 1,188 Resale 3624 Craigs House Ct $408,000 $227 2026-09-30 1991 1,794 Resale 2005 N Meridian Rd Apt F $178,500 $167 2026-09-30 1984 1,067 Resale 2581 Panther Creek Rd Unit B $180,000 $203 2026-09-30 1981 885 Resale 3526 Sedona Loop $225,000 $240 2026-09-30 1987 939 Resale 4106 Beauregard Way $460,000 $209 2026-09-30 2026 2,200 New 543 Bienville Pl $369,100 $240 2026-09-30 2026 1,535 New 184 Bienville Pl $565,000 $220 2026-09-30 2024 2,572 Resale 3029 Bidhurst Ct $400,000 $224 2026-09-30 2010 1,782 Resale 201 Myddelton Trce $430,000 $243 2026-09-30 2002 1,766 Resale 2325 Haverhill Rd $515,000 $189 2026-09-30 1984 2,729 Resale 8364 Bull Headley Rd $451,600 $251 2026-09-30 2025 1,802 New 6375 Thomasville Rd $854,000 $189 2026-09-30 1981 4,529 Resale 6842 Donerail Trl $295,000 $235 2026-09-30 1981 1,253 Resale 5752 Cypress Cir $208,000 $188 2026-09-30 1979 1,104 Resale 4309 Calcutta Ct $255,000 $148 2026-09-30 1979 1,722 Resale 4074 Riverwood Rd $362,000 $175 2026-09-30 1987 2,070 Resale 3214 Springdale Dr $315,000 $184 2026-09-30 2000 1,712 Resale 2981 Byington Cir $164,000 $131 2026-09-30 1991 1,255 Resale 2109 Pecan Ln Apt B $145,000 $131 2026-09-30 1981 1,104 Resale 2466 Tippecanoe Rdg $355,000 $210 2026-09-30 2023 1,690 Resale 1814 Lilac Dr $135,000 $132 2026-09-30 1982 1,024 Resale 2178 Timberwood Cir S $170,000 $144 2026-09-30 1993 1,184 Resale 2926 Oakwood Dr $95,000 $99 2026-09-30 1972 957 Resale 1917 Corvallis Ave $160,000 $136 2026-09-30 2008 1,177 Resale 1134 Willow Crossing Dr $379,000 $240 2026-09-30 2019 1,580 Resale 1111 Brafforton Dr $195,000 $193 2026-09-30 1991 1,008 Resale 2390 Quazar Cir $200,000 $171 2026-09-30 2006 1,173 Resale 524 Lynndale St $61,500 $72 2026-09-30 1955 850 Resale 2545 Lantana Ln $525,000 $246 2026-09-30 2016 2,137 Resale 220 Young St $120,000 $125 2026-09-30 1950 958 Resale 5627 Fletcher Oaks Dr $144,200 $85 2026-09-29 2022 1,702 Resale 528 E Pensacola St $188,000 $271 2026-09-29 1948 695 Resale 206 Belmont Rd $195,000 $148 2026-09-29 1974 1,314 Resale 227 Nabb Rd $375,000 $181 2026-09-29 2005 2,076 Resale 1816 Folkstone Rd $369,900 $233 2026-09-29 2019 1,587 Resale 8388 Bull Headley Rd $441,600 $245 2026-09-29 2026 1,802 New 3257 Lord Murphy Trl $270,000 $149 2026-09-29 1989 1,815 Resale 3735 Ravine Dr $320,000 $213 2026-09-29 1993 1,502 Resale 2403 Hartsfield Rd Apt 607 $130,000 $107 2026-09-29 2004 1,216 Resale 5540 Green Meadows Ct $225,000 $195 2026-09-29 2002 1,156 Resale 1125 Azalea Dr $415,000 $207 2026-09-29 1954 2,008 Resale 1529 Lake Ave $119,900 $157 2026-09-29 1984 765 Resale 603 Famcee Ave $270,000 $196 2026-09-29 1956 1,376 Resale 18184 Blountstown Hwy $200,000 $151 2026-09-29 1928 1,324 Resale 4019 Kilmartin Dr $435,000 $204 2026-09-28 1987 2,132 Resale 3026 Bell Grove Dr $425,000 $195 2026-09-28 1986 2,174 Resale 465 Olivia Rose Ave $450,000 $284 2026-09-28 2022 1,586 Resale 8503 Congressional Dr $1,700,000 $244 2026-09-28 2001 6,960 Resale 5600 Rustic Dr $195,500 $174 2026-09-28 1977 1,125 Resale 2618 Faversham Dr $206,500 $145 2026-09-28 1982 1,420 Resale
This concludes our March 2019 housing update by property type, please give us a call at (850) 366-8917 or drop us a note if you have questions about this great place to live in NW Tallahassee.
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