Weekly Special | March 3, 2025

Property Values Continue Upward Trend

Year-over-year home values in Tallahassee continue to rise, even though demand has cooled dramatically.

The graph above shows existing home values, calculated by price per square foot of heated and cooled living area in recently sold properties. Current values sit 3.8% higher than they did a year ago.

The lock-in effect might restrain buyers, but it also keeps sellers on the sidelines. Historically low inventory protects these values, as buyers still encounter few options among existing homes.

We Must Demand Action If you love your home and don’t plan to move, you might think this is irrelevant. After all, if you’re content with a fixed-rate mortgage payment, who cares about home prices or rents? Right?

Wrong!!!

Our homelessness rate is climbing, and many families are struggling to cover their bills. A larger share of income now goes toward housing than at any point in four decades, and that will soon ripple through the economy. More spending on housing leaves less for other necessities.

When you finally decide to move, you’ll be shocked by today’s housing prices.

It benefits no one when housing costs skyrocket (such as your insurance rates jumping 50% since before the pandemic), so get involved.

Attend local planning meetings and voice your concerns. Nimbys are blocking needed new homes, you can counter by educating our “leaders.”

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