My New Blog

It's been an interesting "ride" the past year in the real estate industry.  As we know, all real estate is LOCAL in nature.  Unfortunately, the media paints the whole industry with a large paint brush.  Here are some facts for Leon County, which is where Tallahassee is located.

--From January 1, 2008 to July 31, 2008 we sold 1,007 single family homes in Leon County, which is a 25% decrease compared to the same time period a year ago.

--The average sales price for a single family home that sold in Leon County from Jan 1, 2008 to July 31, 2008 was $249,312 which is only a 2% decrease from the same time period a year ago.  This is very encouraging since it means homes in our area are holding their values!!!  This goes against what you've probably been reading in the media.  The average price of a single family home sold during the same time period a year ago in Leon County was $254, 031.  Remember how I said all real estate is local at the beginning of this blog?  Well, it goes even further.  There are many "micro markets" within our market.  This means that homes in some neighborhoods may be losing their values at a much higher rate than others.  It also could mean that homes in other neighborhoods may actually be APPRECIATING in value!  Please call or email me for a detailed analysis of any specific Tallahassee home you have in mind. 

--Here's more good news.  While our county saw a 25% decrease in the number of homes sold, Armor Realty of Tallahassee, Inc only experienced a 9% decrease.  Even more encouraging was that our company's total market share actually increased 1.3% during this time period!  This means you are in good hands with an Armor Realty agent!

Please call or email me if you have any questions.  I appreciate you taking the time to read my blog!

Have a nice day!

Mark

*All statistics obtained from the Tallahassee Board of Realtors' Multiple Listing Service (MLS)