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Strong Year Over Year Gains In September

Year over year home sales soared 30% higher in September, a showing strong enough to bring the market back to nearly even for the year.

Currently, the Tallahassee MLS reports just five fewer home sales in 2019 through September than we did through the same time last year.

Take a look at the graph and our forecast for the remainder of 2019 in this week’s report.

Home Sales Grow Outside Of Leon County

There are some busy neighborhoods in Central-North Florida, and you might be surprised to find that many of them are not located in Leon County.

While this newsletter typically focuses purely on Leon County, I felt it time to update the home sales activity from all around the Tallahassee real estate market.

The graph in this week’s one-page special report shows the most active neighborhoods in our area thus far in 2019, and roughly one-quarter of them fall outside of Leon County.

Oct 2019

Download the October 2019 supply and demand report for homes in Tallahassee, FL.

The four corners of the Tallahassee real estate market are segmented by price range and the current months’ of supply of homes for each quadrant and each price range are shown.

You can use this information to recognize home values and to prepare yourself to successfully negotiate your next transaction when you buy a home or sell a home in Tallahassee.

Median Home Price Surges Higher

The median home price in Tallahassee has moved significantly higher after a strong summer selling season.

The last time we reported on median home prices in Tallahassee, a sluggish early 2019 had resulted in declining prices for two of the three property types being tracked (single-family detached homes, condominiums, and townhomes). But that is no longer the case.

Take a look a today’s median home price and what it means for the future of housing in Tallahassee.

Recovery Differences By Zip Code

The real estate market in Tallahassee continues to improve, with property values today setting new record highs in some areas while still playing catch-up in others.

The graph in this week’s special report shows the percentage change in average price per square foot from the peak of the market though today for existing single-family detached homes (meaning no new construction homes) and it is segmented by zip code. This is a convenient way to get a feel for overall home values, though it is not an effective method for determining the value of a particular home.

So what does this graph tell us in terms of home values today versus those in 2006 and 2007?

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