Top Resale Neighborhoods In Tallahassee
As a follow-up to our Top New Construction Neighborhoods article earlier this week, I have prepared it's counterpart that shows the top resale neighborhoods in Tallahassee.
While it is always important to know about new homes being built, if you have a home for sale in a particular subdivision, the best home value estimator comes from the existing home sales market.
So we have assembled the top selling neighborhoods in Tallahassee for your review.
Top Resale Neighborhoods
Real estate is similar to cars in that new and used do not sell at the same prices.
Homeowners should know that there is a premium that builders get for selling new construction, while existing home sellers compete from within a lower value range.
So we can use the two real estate graphs below to help homeowners understand realistic values for homes in the top selling neighborhoods.
This first graph shows the average sales price for existing home sales in 2013 among the most active neighborhoods in Tallahassee. The highest average price can be found in Golden Eagle Plantation, while the lowest average price can be found in the Villas of Westridge. Southwood and Killearn Estates are the most active subdivisions with 98 resale home closings each through November 6, 2013.
Our next graph shows the same neighborhoods, but uses average home values (measured in price per square foot) rather than average prices.
Bull Run and then Southwood, with relatively newer homes, is recording the highest resale values, while the Villas of Westridge are bringing the lowest values among the most active subdivisions in Tallahassee.
Our evidence shows that home values and prices do vary by neighborhood, and knowing which properties to use in a home value estimate is the difference between getting it right and missing the market altogether.
Whether or not you live in one of the top resale neighborhoods in Tallahassee, if you would like to see a full analysis on the value of your home, just drop me a note and we can schedule a time to see your home and provide you with an accurate market value.