Tallahassee MSA Outpaces Florida Growth in Residential Resales

Tallahassee MSA Outpaces Florida Growth in Residential Resales

Based on 2016 information released by FloridaRealtors.org, the Tallahassee Metropolitan Statistical Area (MSA) ranked 5th among the 22 Florida MSA’s in year-over-year (YOY) growth in closed sales of single family residential resales.

The Tallahassee MSA recorded an 8.6% increase in closed sales when compared to 2015. The state average growth rate was .9%

Growth rates reported in other North Florida MSA’s were 13.0% (2) for Pensacola, 8.7%(4) for Panama City and 5.8% (6) for Fort Walton Beach.

The annual growth rate in sales fluctuated dramatically among the 22 MSA’s.

The Villages, located near Ocala, led the state with 34.3% in growth and resales in the Naples-Marco Island area decreased by 8.2%.

The table below, which ranks the MSA by growth rate in closed sales, shows that most MSA’s located south of Orlando reported below average growth in closed sales.

With regards to median sales price, resales in the Tallahassee MSA increased by 5.9% to $187,000. This growth rate ranked 20th among the Florida MSA’s and came in below the state average of 12.2%.

The growth in Tallahassee MSA’s median sales price ranked below Pensacola 7.6%(16), Fort Walton 6.3% (19), and Panama City 6.8% (18).



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