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June 16, 2016 • Real Estate History

Tallahassee Real Estate Industry Positively Affecting Consumer Spending

Real estate agents in Tallahassee are staying busy, as real estate is on the move again with healthy home sales. The trend is expected to continue, as many neighborhoods are experiencing massive growth with a variety of builders expanding on or starting work in new residential communities.

The boom of 2014 and 2015 has slowed somewhat, but the demand for new construction is still high in select areas and ranges from rural retreats to in-town residences. Distressed homes are also big sellers, bringing in flippers and remodelers to less wealthy neighborhoods; Tallahassee remains in the top five 110 metro areas with at least 1,000 single family and condo sales in the first quarter when it comes to the highest share of distressed sales, coming in fourth at 28.1 percent, right above Jacksonville, Florida at 27.6 percent. (Unsurprisingly, Flint, Michigan holds the top spot.)

Central and northeastern neighborhoods worth watching for Tallahassee real estate agents searching for family homes with good schools include:

Central Tallahassee:

  • Betton Hills is one of Tallahassee’s oldest in-town neighborhoods, with easy access to fine dining, shopping, schools, and parks.
  • Indian Head Acres is close to downtown, with a mix of contemporary architectural styles as well as grand old houses dating from the 1950s.

Northeast Tallahassee:

  • Bull Run spans 428 acres with the new construction by award-winning area builders focused on family-oriented communities.
  • Killearn Estates was Tallahassee’s first planned community with underground utilities, and includes several neighborhoods with 3,800 distinctive homes.
  • Killearn Lakes Plantation is tucked away the forests of northern Leon County, with a variety of home styles and a meandering layout.
  • Summerbrooke features a scenic location with custom homes set in the rolling hills of northeastern Tallahassee; the top-rated golf course is a plus.

Also of note are the following:

  • Huntington Estates is a neighborhood of single-family homes on large lots in the northwest sector, with nearby shopping, schools and entertainment.
  • Lake Talquin offers living for the boater or fishing enthusiast in the southwest area, with custom homes and estates.
  • Piney Z is a former plantation located on the east side of Tallahassee; includes 450 acres with access to popular local trails; and is bordered by three parks.
  • SouthWood is yet another planned community within walking distance of a state office center on the southeast side of town, with parks, trails, schools and golf club.

Consumer spending and real estate related industries are still growing, according to the Tallahassee Economic Index, a report that assesses more than a dozen economic factors to determine local trends, and which is already up 14 points for the year. New construction permits, realtor sales, lumber and other building materials were all up 9 percent or more from a year ago, and home related purchases such as household appliances, home furniture, furnishings and equipment have all had gains close to 10% for the year to date.

The entire region is primed for population growth, meaning it’s a perfect time for Tallahassee real estate agents to start being more competitive for listings, particularly for developing and revitalized communities.

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