Has The Average Home Value Peaked? • Tallahassee Real Estate
What Will Home Values Do Next?
I suspect we will see higher-than-historically-normal appreciation growth in the coming years due to the relatively low supply of homes. As anybody who has taken a basic course in economics knows, when supply is low and demand is high, values (prices) rise.
Tallahassee, like most other real estate markets, is split between the lower-end end where builders are having a hard time delivering inventory, and the higher-end, where supply is already too high.
This means the lower-end of the market is appreciating rapidly, while the higher-end of the market is actually dealing with over-supply and declining values. If the higher-end homes continue to see inventory reductions to the point that it joins the sellers’ market, then we’ll see appreciation (average home value movement) rise even faster. But I don’t believe that will happen. The higher-end of the market will continue to bring the average down somewhat.
Does this make sense to you? If you have thoughts on the future of home value movement in the Tallahassee real estate market, you can leave a comment below, give us a call at (850) 366-8917, or drop us a note and we’ll further the discussion from there.
As a local born and raised in Tallahassee with a focus on customer service, I promise you’ll find great success when working with Joe Manausa Real Estate, just as have our past customers. You can thousands of their reviews reported on Google, Facebook and Zillow right here: Real Estate Agent Reviews Tallahassee.
Have you heard about my new book “The Business of Getting Business?” It’s a comprehensive guide for small businesses to help them make the move to digital. For those of us who want to survive and thrive in a world where large corporations are taking over, it is a must-read.
You can find it on Amazon (It will be published in Feb 2020, reserve your copy today at a pre-published rate).