Weekly Special | February 18, 2019

Median Home Price Hits $200,000

The median home price has reached $200K in Tallahassee, the highest price ever measured. This includes all single family homes (both attached units and detached units).

Some Interesting Median Numbers  All Homes: $200K ($190K)

 New Homes: $288K ($310K)

 Existing Homes: $187K ($181K)

 Single Family Detached: $205K ($199K)

 Townhouse: $178K ($183K)

 Condominium: $195K ($130K)

The numbers in parenthesis are the median prices for last year. Expect Townhouse prices to come up as more sales take place. With relatively few condominium sales each year, the median moves around a lot. Expect to see condominium prices come down to around $170K as the year progresses.

Big Year For Attached Properties Land prices are moving higher. Sticks, bricks, mortar and labor are moving higher too. It is getting difficult for builders to deliver detached units under $300K, so we will continue to see growth in the percentage of sales of attached units.

If you own land in Tallahassee that you want to sell, you’ll be happy to know a bull market is approaching fast.

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