Weekly Special | July 10, 2016

Mid-Year Report Shows Appreciation Growth

There is more than one way to answer the question “how is the market,” but the graph above provides most of the answers that we need.

When looking at home sales (single family detached homes, condominiums, and townhomes) through the first half of the year, we find three very positive results for Leon County (Tallahassee).

First of all is unit sales (how many homes were sold). There were 4,068 home sales recorded in the Tallahassee MLS this year through June, which is 9.9% more than were recorded in June in 2015.

Secondly, there was $811.2M in volume recorded through June of this year compared to $738.3M through June of last year, a growth of 10.3%.

Finally, the average home value sold in the MLS through June this year was $106 per square foot, up 3.1% over the $103 per square foot posted through June last year.

Buyers’ spending did not change much, as the average home price reported dropped less than a 1/2 of a percent to $199,410 in 2016.

Expect to see the 3.1% appreciation grow in the next half of the year.

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