Weekly Special | March 6, 2018

Real Estate Appreciation Rates Are Soaring

Sometimes it really takes a picture to explain something that is going on, and today’s graph above is a picture of the appreciation that current Tallahassee homeowners are enjoying.

Home values are plotted as measured sales price per square foot. The blue line shows single family detached homes, while the red line represents the values of condominiums and townhouses collectively.

There is a lot of good-to-know information from the picture of the market above, from where values are now to how fast they are appreciating and how values today compare with values reported in the past.

Since 2012, condos/townhomes have appreciated 45% and now average $103 per square foot. During that same period of time, single family detached homes have appreciated 24% and currently sell at an average value of $126 per square foot.

Current values for single family detached homes are 11% lower than 2006 values, and condos/townhomes are now 20% lower than they were valued in 2006.

Expect to see condos/townhomes continue to out-perform single family detached homes as they recover.

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