Residential lot sales in Tallahassee have mirrored the rest of the residential real estate market. Unit sales are down off their highs and prices have fallen. Since January of 1991, Tallahassee has averaged over 180 residential lot sales per month, but the current trend is down near 50 per month.
The good and bad news about residential lots in Tallahassee is that they really only have 1 purpose. People buy lots to build a home upon. If there is a demand for housing in Tallahassee, then so too shall their be a demand for lots. Currently, the opposite is true.
Demand for housing in Tallahassee is at least at a 20 year low, so lot sales have fallen off. But what will happen to lot sales when the market stabilizes?
Click here to See Graph Of 20 Years Of Tallahassee Lot Sales
