Weekly Special | September 25, 2023

Tallahassee Area Home Sales Update

The Tallahassee real estate market continues to grow well beyond the Leon County boundary, so today’s report focuses on the counties where most homes are selling.

The Tallahassee MLS reports sales in nine Central North Florida counties, from Madison County in the east to Jackson County in the west, and then as far south as Franklin County.

The graph above summarizes home sales activity in the big 3 counties that deliver roughly 90% of all home sales in our MLS.

Some of our further-away neighboring counties likely have significantly more homes sold than what the Tallahassee MLS shows, so I’m going to focus on the three counties where my confidence level is the strongest.

Unit Sales Are Down—Values Rising At the far left of the graph, we see that home sales in Leon County have fallen 25% compared to August of last year, while Wakulla County and Gadsden County are down 23% and 17% respectively.

The average home price has risen 11% in Leon County, 2% in Wakulla County, and Gadsden County has seen the average price drop less than 1/2%.

The average price-per-square foot of homes sold are up 9% in Leon, 7% in Wakulla, and 2% in Gadsden. The average home size is shrinking in Wakulla and Gadsden County, while homes sold in Leon County this year are 2% larger than last year.

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