Funded by the one-cent local option tax, Cascades Park is a great illustration of how our tax dollars are being reinvested into our community. One of the major historical points within the park is the Prime Meridian Marker. Originally set in 1824, this marker is the origination point for all land surveys in the state of Florida.
The marker can be found in Prime Meridian Plaza and is located inside of a map of Florida.
The Smokey Hollow Commemoration and the Korean War Memorial can both be found in Cascades Park as well, providing further historical knowledge for the people of Tallahassee.
However, the focus of the park is Capital City Amphitheater. The ampitheater – which stands 80 feet by 50 feet – can be found next to Prime Meridian Plaza and is visible from all areas of the park.
The Imagination Fountain is conveniently located on the west side of the Prime Meridian Plaza, as a fun space for the younger clientele of the Park. The Fountain features 73 jets that randomly shoot water into the air, creating a fun atmosphere for kids. At night on the weekends, the Imagination Fountain turns into a seven-minute light show beginning at dusk and repeating throughout the night.
The Discovery area of the park is made for children as well, creating a fun, natural environment for them to play while parents can enjoy the trails that Cascades Park has to offer.
Tallahassee is starting to join the rest of the US housing market which has been struggling with low inventory issues at the “sweet spot” in each market.
This sweet spot in Tallahassee can be defined as homes priced below $250,000 in our Northeast quadrant, and homes priced from $200,000 to $350,000 in the Southeast quadrant.
All other areas and price ranges remain over supplied at the present time.
If you own a home that meets the sweet spot criteria, and you are considering your options for moving, now is a great time to give me a call (or send me an email) to arrange a time for us to meet and discuss your options.
The following table shows the relative supply of homes for sale in Tallahassee. Relative supply refers to the months of supply of homes, and we consider 6.0 months of supply to be a balanced market.
A balanced market is a situation where sellers and buyers are on equal footing. When the months of supply of homes drops below 6.0 months, the market moves towards a seller’s market. The opposite (a buyer’s market) occurs when months of supply exceeds 6.0.
The table below shows the relative supply of homes in each quadrant, arranged by price range. An interesting example can be seen in homes priced from $150K to $200K. In the Northeast quadrant, this is very much a seller’s market, as only 3.3 months of supply exist. Yet when we look at the other three quadrants, the inventory levels are high enough to be categorized as a buyer’s market.
You may notice a few areas with price ranges that appear to be leaning towards a seller’s market (for example, Northwest homes priced from $300,000 to $400,000), but in most cases these are areas with ample supply at price ranges immediately higher that will be undergoing price reductions that add to the apparently light inventory. In other words, a $410,000 homeowner who is getting no action due to oversupply will lower the price below $400,000 which adds to the inventory at the price range.
Currently, the West side of Tallahassee is facing a glut of supply in many price ranges, and the Southwest side is oversupplied from top to bottom.
The heavy multi-family construction that has occurred near the campuses on along Tennessee Street have drawn tenants away from single family homes and have caused many investor/owners to either lower rents or move their homes from the “for rent” market to the “for sale” market.
The impact from these construction projects will begin to be felt heavily when the next school year begins this Summer.
Thomasville Road Corridor Is Hot
If you own a home along the Thomasville Road Corridor in NE Tallahassee, you might want to give the market a try.
Home values have been moving higher here faster than anywhere else in Tallahassee.
The primary driver is the perception of the quality of schools on the Northeast side, and buyers with school-aged children often begin their search in this area for this reason.
We are seeing bidding wars on homes priced below $250,000, something fresh and exciting after so many years of the hard real estate market recovery.
Current Supply Of Homes For Sale
If you want to know how many other sellers are out there with whom you will have to compete with for ready buyers, take a look at the following table:
This table literally shows the current number of homes listed for sale in each area and each price range. For example, there are 83 homes priced above $600,000 in the Northeast, and zero (none) in the Southwest. Overall, there are 1,956 homes for sale in Tallahassee (Leon County).
How Market Knowledge Puts Money In Your Pocket
Whether you are selling a home in Tallahassee or buying one, you should know that a precise understanding of the supply and demand for housing is a critical element in you attaining the best deal possible.
If you merely test the market without pricing perfectly, you will leave money on the table as a home seller.
And if you just throw on offer out there on a home listed for sale, you are likely to either over-pay for the home or lose it to a better informed buyer. The key is to understand the competition for each home based upon the area and price range for where the home is located.
Where To Find The Best Real Estate Market Information For Tallahassee
We maintain an easy-to-use archive of our housing reports, real estate newsletters, and weekly market summaries. You can subscribe to our real estate newsletter to have it delivered to your email inbox by CLICKING HERE.
We also produce comprehensive reports for the larger Tallahassee neighborhoods that you can find by CLICKING HERE.
Of course, if you really hate reading reports, you can always reach out to us directly and we’ll help you understand the current competitive environment for your home. If you want to get a feel for the current value of your home, why not try our new HOME PRICING TOOL.
Joe Manausa Real Estate has some of the best trained real estate agents that you will ever meet and they are standing by to give you 5-star service when the timing is right for you. Give us a call or drop us a note (CONTACT US HERE), we are ready to help you move!
Experience in a competitive sales environment is not a must, but is preferred. No previous real estate experience is required, although a license will need to be obtained prior to commencement of work.
Must display the ability to communicate clearly and effectively via email, phone, and in-person. Must be upbeat, positive and enjoy working alongside others who share a common goal.
Job duties include but are not limited to:
Speaking with customers via both phone, and email
Meeting with customers, both at the office and in the field
Utilizing various computer software systems to complete daily tasks
Providing 5-star customer service at all times
This is a salaried position. Starting compensation packages will range from $30,000 to $60,000 per year commensurate to experience. Health benefits and profit sharing bonuses are also included.
Are you the person we’re looking for? If not, do you know someone hungry for a challenge who might fit the description? Please pass this information on to them.
We want you to join our team! If you’ve got a “can-do” attitude and are willing to put in the work necessary for success, then contact us immediately to set up an interview.
There is a joke to insert here about Joe’s age; but I will use my better judgement and refrain.
You’ve probably seen tremendous growth in Northeast Tallahassee over the last couple of decades. The emergence of neighborhoods north of I-10 like Killearn Estates, Bull Run, Golden Eagle, Killearn Lakes and others have been the genesis for some of Tallahassee’s most aggressive real estate growth in recent years.
Along with these fledgling neighborhoods came new churches, some of Tallahassee’s highest rated public schools, and a wider Thomasville Road. Until recently one major deficiency with this section of Tallahassee was the lack of dining, shopping, and entertainment options.
Bannerman Crossing is a newly erected shopping center located on the western corner of Thomasville and Bannerman with especially easy access for the residents of Killearn Lakes Plantation. There are more than 25 stores, restaurants, and services with more coming soon as additional phases near completion.
One of cornerstones of Bannerman Crossing is the popular Blu Halo Restaurant and Bar. Blue Halo offers “superior steak and seafood”, as well as creative cocktails and libations.
Blu Halo DOES have some extraordinary drinks. Their bar has Tallahassee’s only liquid nitrogen machine, which “can turn any alcoholic beverage into an ice cream confection”. Liquid nitrogen is odorless and tasteless, and can be used to turn a margarita, daiquiris, or cocktail into a smooth, velvety treat.
The mixologists at Blue Halo score an A+ for their creativity and taste. I highly recommend the El Diablo or the Golden Eagle Rita-tini.
Bannerman crossing has more to offer than high end dining. You can visit the Bannerman Crossing website at: bannermancrossings.com for a list of current and “coming soon” establishments, and if you are in Northeast Tallahassee and would like to try a one-of-a-kind cocktail, stop by the Blu Halo (but don’t forget your wallet).