Weekly Special | June 2, 2025

Home Values Continue Higher

While the number of home sales continues to decline in Tallahassee, posting the worst year for homes sold through April since 2013, home values continue to move higher.

The graph in this week’s one-page special housing report shows 1,000 homes were sold in the first four months of 2025, and the average existing home sold for 5.3% higher price per square foot than the 1,180 homes sold through April of 2024.

This means that year-to-date sales dropped by more than 15%, nevertheless, values continued higher.

These results further support our concerns about the limited supply of homes for sale in Tallahassee.

Much of the news media reports that inventories are rising (both in Tallahassee as well as the overall US housing market), but they fail to grasp the source of those new listings.

When an existing homeowner puts their home on the market, it adds to the inventory. But when that owner gets under contract, they now must move else, thus they remove a home from the inventory.

While there are cases where this is not true (death, moving overseas, moving to a special facility, etc.), current homeowners do not have the same supply-side impact as does the introduction of more newly built homes.

Our population is growing, so people are moving away in lower numbers than they are arriving, so we need to get our City and County officials to do their jobs to help produce the affordable homes that our builders can no longer build. There are plenty of ways this can be done in conjunction with the private sector, but ignoring the problem will just make our homes more expensive.

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