Just a reminder, the Tallahassee Real Estate Newsletter goes out again today. If you are a subscriber, then the email and link are either in your inbox or your spam filter. If you are not a subscriber, you can subscribe very easily in the link above or the graphic at the end of this post.
Average real estate prices continue to drop in the Tallahassee real estate market, with the exception of condos/townhouses. One has to remember that the drop in average prices does not absolutely represent depreciation, rather it represents the prices that buyers are currently buying. One has to measure both the average price as well as the comparative changes in the “average” house in order to determine whether or not depreciation is occurring.
We know from previous blog articles that home prices in Tallahassee are depreciating. Fallen average prices are also being accompanied by the sale of larger average home sizes. One of the things to keep an eye on however is the impact of the First Time Homebuyer Program. This will bring a lot of buyers into the market that purchase the less expensive homes, thus bringing down the average sales price of a Tallahassee home without necessarily affecting appreciation/depreciation.
Average Real Estate Prices In Tallahassee
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