Tallahassee real estate overview for 2022

Happy New Year!

Welcome to Living In Tallahassee! Where we cover Tallahassee real estate and local parks, businesses, and lots more. My name is Abbe Flynn, and I am a broker associate with Ketcham Realty Group in Tallahassee, Florida.

We are doing something a little different here at LivinginTallahassee.  We will start posting three blogs and associated YouTube videos a week. The first video on Monday will be a real-estate related video addressing frequent questions and the latest stats that we find interesting.  On Wednesday, we will drop a blog and YouTube video focusing on Something To Do in Tallahassee.  Then on Friday, we are going to deep dive into one of our gorgeous Tallahassee neighborhoods and give you an updated price range, size, and age ranges of homes and residents, local shopping, schools, and lots of videos and photos.

Since this is the first Monday of the new year, let’s wrap up Tallahassee’s real estate market during the last year.

Tallahassee Real Estate for 2022 in the numbers

There were 4,436 sales in 2022, that is 82% of the 5,349 homes sold in 2021.  In 2022, 71% of those were detached single-family homes. Almost 17% were townhomes.

As of 12/31/2022, there were 688 homes actively looking for buyers in Tallahassee and an additional 77 pending closing. Of those 688 homes active on the market, 125 are new construction. Even though there were fewer sales than last year, the median sales price increased by 7% in the past 12 months. From $239,900 to $256,950.  The days on the market also dropped from 44 days to 42 days. While a few areas see a balanced market, most of Tallahassee still has less than six months of inventory. A general rule of thumb is six months of inventory creates a balanced market where neither buyers nor sellers have an advantage.

If you are thinking of making a move in Tallahassee, we want to be your Realtors. Contact us!

Abbe Flynn, MS

Broker Associate

850-203-0209

[email protected]