3028 Shamrock South
Tallahassee, FL
5/3, 3997 square ft. Contemporary home.
Fenced. Recent roof (2021) New HVAC up 2023, Down
2022. Complete remodel 2021. On the 15th fairway, South
course of Killearn Championship golf course. Reopening
Summer 2024. Fireplace, wet bar, Sunroom, 21x21 bonus room.
Call Agent for details at 850-545-3439

Market update 4/30/2024

The Tallahassee market continues to be smitten by the slow moving effects of inflation. Interest rates have been the major villain.
In the Killearn market (32309) the inventory of homes  is presently 1.9 months. One year ago it was 2.5 months. So you can see that we have 24% fewer homes on the market than this time last year. The average home value is $518,594. That is up from this time a year ago by 15.6% from $448, 418. A healthy real estate market is a 6 month inventory. Time to contract is 30 days down 12%.

In the (32312) market, the Killearn Lakes/Golden Eagle market is somewhat different. Properties sold March, 2024 numbered 29 against 44, March 2023. That is down 34% month to month. The average sales price was $526,020, down 6.8%. Time to contract is 27 days compared to 29 days in '23. Inventory is 99 in March of '24 compared to 83 March of '23. So Inventory is 2.9 months now compared last year to this year.

Interest rates today are 7.51% according to Mortgage News Daily. They were below 7 coming into the new year. Now they are seemingly on their way to 8% again. Unfortunately there is not a lot of great news to report about real estate. People are taking it slow and trending towards staying in their homes and pursuing renovation loans.

Don't self medicate. Consult the expert in your local market. There is not a cost associated with doing that. I am always happy to speak with you about your real estate questions.

Be well and be happy.

Lee

Lee Vass, Broker-Owner
Lee Vass Realty
License #BK3030934
3005 Shamrock South
Tallahassee, FL 32309
850.545.3439
elvass@elvass.com
Elvass.com (website)