Tallahassee Single Family Detached Home Prices April 8, 2010

Tallahassee single family detached home prices have been trending down since their values peaked at $222K in April of 2007. Today, the one-year trend of average single family detached home prices in Leon County has fallen to $191K, but we still are much higher than historic sales levels indicate where we should be.

In the real estate graph below, we can see how significant the rise in prices were starting in 2003. The orange line in the graph below shows the pace of growth in the average price of a single family detached home during the 1990s, yet we blew way past this established growth rate during the five-year boom in the housing market.

Had the boom not occurred, our past pace would have our average home price much closer to $170K, rather than our $190K+ level that we are seeing. Part of this is due to the growth of the condo/townhouse market, which took the place of the lower-end single family detached home. But another part of this is due to the euphoria of the boom market, which we must still work to resolve.

Tallahassee Real Estate Favorites

Do you want to know more about the housing market? It is not as hard as you might think keeping up with the movements in the housing market, you just have to know where to look. The following are some of the best resources that you can find on real estate in Tallahassee:

• Building A Better Real Estate Web Site: Best Real Estate Web Site
• Daily Real Estate Blog (A Technorati Top 100): Tallahassee Real Estate Blog
• Tallahassee Neighborhood Report: Tallahassee Subdivisions
• Current Housing Reports: Housing Market Reports
• Map Based Property Search Tool: MLS Property Search
• Foreclosure Reports: Lis Pendens and Foreclosures
• List of Distressed Properties in the MLS: Distressed Properties
• REALTOR® news and updates: Successful REALTORS®