Weekly Special | December 10, 2018

Appreciation Mixed Across Tallahassee

The rate of appreciation in 2018 that we are measuring around Tallahassee varies greatly by neighborhood. In fact, when we look at the top selling neighborhoods, homes that fall outside of formal subdivisions are leading all others (up 21.6% so far in 2018).

The graph above shows the top 12 neighborhoods in Tallahassee, based upon the number of existing homes sold through November (plotted in dark blue and recorded on the left vertical axis). Each neighborhood’s corresponding appreciation rate is shown in red and recorded on the right vertical axis.

Only Southwood appears to have a lower than average appreciation rate (where 3% to 4% is the average rate observed in Tallahassee over the past 28 years).

Market Awareness Critical I believe that the combination of rising mortgage interest rates and higher home prices has caused sticker shock among buyers in the market and thus sales are slowing down.

If you want to sell your home in 2019, make sure you hire a market valuation expert; choosing the right initial asking price will save you money, choosing the wrong one will cost you greatly.

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