TALLAHASSEE REAL ESTATE TREND REPORTS: MAY 2022

The latest data from the Florida Association of REALTORS® includes many data points. While conducting my research for my clients I have found that the median sale price data, active inventory levels, median time to close, cash as a percentage of closed sales and months of supply of inventory are some of the best data points to evaluate what the trends are in the Tallahassee real estate market.  I hope you find this data educational and insightful as you explore your housing options. You will see that the infographics below indicate the year-over-year data points, while the graph shows the 14 year data set.

When comparing the Tallahassee (City) fourteen year trend report and the Tallahassee MSA (Metro Sales Area) report with the median sale price is between $305,000 and $310,000 which is an absolute historic all-time high value.

We can see that the Tallahassee MSA Closed Sales volume was down 12.7% compared to May 2021, but the Tallahassee (City) sales volume was nearly identical at -0.6%

Year-over-Year Residential Homes Sales Data for Tallahassee 32317

In Tallahassee the zip code 32317 includes neighborhoods like, Green Acres at Pedrick, Retreat at Mahan, Avondale, Easton Glen, Adiron Woods, Weems Plantation, Preserve at Bucklake the year-over-year data points to the median home value up from to $425,000 at 30% increase from May 2021.

Right now being a seller in this area is freaking amazing, but it is also a great opportunity to tap into your own equity position for other investments or debt consolidation. These factors are impacting this zip code: completion of the Amazon fulfillment center, new construction homes, highly rated school zones.

Year-over-Year Residential Homes Sales Data for Tallahassee 32312

In Tallahassee the zip code 32312 includes neighborhoods like, Killearn Lakes, Bull Run, Ox Bottom Gardens, The Groves at Summerbrooke, Summerbrooke, Lakeshore Estates, Villages at Maclay, Median Hills, Glen at Golden Eagle, Linene Woods. The year-over-year data points to the median sale price is up 12% YOY.

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Year-over-Year Residential Homes Sales Data for Tallahassee 32311

In Tallahassee the zip code 32311 includes neighborhoods like, Southwood, Piney-Z, Hampton Creek, Lexington Parc, Timber Lake. The year-over-year data points to the median home value up from to $415,000 at 54% increase from May 2021. Also interesting that the months supply of inventory is up from 1.1 months in May 2021 to 1.4 months in May 2022. Notice the modest increase (5.3%) in active inventory in this zip code YOY.

Year-over-Year Residential Homes Sales Data for Tallahassee 32310

In Tallahassee the zip code 32310 includes neighborhoods around the Florida A&M University campus area as well as Lake Talquin. The year-over-year data points to the median sale price increase from $145,000 in April 2022 to $184,500 in May 2022.

With only 9 closed sales in this zip code in May of 2022, this data can be seen as slightly skewed, however that is 50% more closed sales that YOY.

Year-over-Year Residential Homes Sales Data for Tallahassee 32309

The Tallahassee the zip code 32309 could be one of the most popular areas as it includes neighborhoods like Killearn Estates, Killearn Acres, Royal Oaks, Cameron Chase, Greens of Killearn, Foxcroft, Lenox Mill, Arbor Hills. The data points to the median sale price fell from $391,300 in April 2022 to $375,000 in May 2022.

Year-over-Year Residential Homes Sales Data for Tallahassee 32308

The Tallahassee the zip code 32308 also one of the most popular areas as it includes neighborhoods like Betton Hills, Betton Woods, Lafayette Oaks, Woodgate, Eastgate, Canopy, Melody Hills, Evening Rose, Miccosukee Hills, Capital Hills, Hillcrest Court. The year-over-year data points to the rise in the median sale price increase by 20% YOY to $370,738.

Another significant trend from the data is the increase in cash sales a percentage of closed sales.

Year-over-Year Residential Homes Sales Data for Tallahassee 32305

The Tallahassee the zip code 32305 includes neighborhoods like Crawfordville Trace, Montejo, Villas at Pine Forest, Villages at Wilson Green, Southfork, Forest Estates. The year-over-year data points to the massive jump in active inventory which is due in some part to the new construction in the Montejo neighborhood.

Another significant trend from the data is huge increase in median sale price of $199,900 (39% YOY).

Year-over-Year Residential Homes Sales Data for Tallahassee 32304

The Tallahassee the zip code 32304 includes neighborhoods like Linwood Manor Jordans Pass, Westminster Hill, Missionwood, Bradford Manor, Saxon, Epps Heights, Mission Manor.

The year-over-year data points to 31% increase in median sale price to $202,941 and the massive drop in supply of inventory.

Year-over-Year Residential Homes Sales Data for Tallahassee 32303

The Tallahassee the zip code 32303 includes neighborhoods like Glenview Place, Parkside, Meridian Estates, Roweling Oaks, Glendale, Forest Glen, Summerfield, Eastview, Anderson Heights, Tippecanoe Hills, Tower Gates, Hartfield Gardens, Oak Valley, Rivers Landing, Bent Tree Estates, Sagebrook Mill, Harbinwood Estates.

The year-over-year data points to the closed sales up 17% which is due in large part to the new construction homes in Tower Gates and Tippecanoe Hills. The media sale price was also up 16% YOY to $258,500.

Year-over-Year Residential Homes Sales Data for Tallahassee 32301

The Tallahassee the zip code 32301 includes neighborhoods like Woodland Drives, Villages at Maclay, Indian Head Acres, Florida A&M, Osceola Heights, Cross Creek, Hillcrest, Blairstone Forest, Magnolia, Apalachee Ridge, Meridian Park. The year-over-year data points to the huge drop in inventory 45% YOY as well as the drop in supply of inventory.