Weekly Special | March 31, 2018

First Quarter Home Sales Post 12 Year High

The first quarter of the year is now behind us and I’m happy to report the housing market recovery continues to strengthen in Tallahassee.

While the quarter ended on Friday, we can still expect to see late-posting sales from Realtors in the MLS for the next few weeks.

Despite these un-posted sales, we can already proclaim the first quarter was the best first quarter of any year going back to 2006. On top of that, only two years started off better than 2018 (2005 & 2006).

Here’s what the MLS tells us about the median existing home sale (omitting new construction) in 2018Q1.

 Median Home Price: $174,000  Median Home Value: $114 psqft  Median Home Size: 1,500 sqft The median price is down less than 1% of 2017, but the median value is up a percent while the median home size is down more than 3%.

It’s too early to call it, but don’t be surprised if by year’s end that the home sales pace will be strong enough for 2019 to be Tallahassee’s best year ever.

The original one-page Weekly Special PDF is still available.