At the political center of Florida State sits the town of Tallahassee. A pillar of Floridian society since the state's formation, the city stands as one of Florida's oldest and proudest urban centers. The city itself is home to approximately 170,000, a number that doubles when including the surrounding regions that make up the metropolitan area of Tallahassee. For anyone who's putting up their house for sale in Mississauga in hopes of moving to Tallahassee, let's take a look at some of the current real estate trends for the city.
The average listing price in Tallahassee as of July 2009 is just over $253,000. Comparatively, the average price in Miami, Orlando, and Tampa are $410,000, $349,000, and $344,000 respectively. Jacksonville, the largest city in the state, has an average listing price of $264,000. Though Tallahassee may not be as attractive a destination for someone starting a real estate career, it offers the safety, security, and peaceful attitude those other cities cannot offer.
For home sellers in Tallahassee, don't let the above numbers get you down. Though listing prices are much higher in surrounding cities, the difference between the average listing price and the median selling price is much higher in those other cities. In the big three of Miami, Orlando, and Tampa, the difference can be upwards of $235,000, or Jacksonville's $139,000. Currently, Tallahassee is just below $100,000. So a Tallahassee home is a solid investment.
A sign of Tallahassee's stability as a home and city is the number of recent foreclosures. Where as towns with similarly or smaller sized populations such as Vancouver, Washington have had upwards of 1,600 recent foreclosures, Tallahassee has but 61. For someone looking to start a hydrovac business in Tallahassee, there is no clearer sign of stability within your clientele than that.
Even from an historical perspective, Tallahassee remains a stable and solid real estate market. The prices have shown slow and steady growth over the last 8 years, and have not dropped nearly as much as other cities during the economic downturn. The number of sales every year shows predictable certainty, rising steadily over the summer and early fall, dropping during the winter months, only to curve back up at the end of spring. Although this year saw the number of sales drop to their lowest point since 2000, that number has rebounded and is following that old familiar pattern.
Like the city itself, the real estate market in Tallahassee continues to show a sturdiness and resiliency few Florida towns can boast. Though the urban lifestyle of a condo downtown Toronto or the beach life of a Miami bungalow might suit some a little better, anyone looking for a stable and strong community in which to raise their family in these troubling times need look no further than Florida's capital city.
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