According to the Florida Association of Realtors, the median sales price of a single-family home in the Tallahassee MSA during the first two months of 2024 has dropped 2.4% when compared to first two months of 2023. Sales prices dropped from $307,500 to $300,000.
The Tallahassee MSA includes Leon, Gadsden, Jefferson, and Wakulla counties.
During this same period, Florida median sales prices have increased 4.6%, from $391,953 in 2023 to $410,000 in 2024.
Further analysis shows that from 2021 to 2024, the median sale prices of a single family home in the Tallahassee MSA has not increased as fast as Florida sale prices. During this period, Florida sale prices have increased 32.3% whiles prices in the Tallahassee MSA has increased 19.0%.
instead of steak one buys hamburger; instead of a mansion one buys a starter home.
It reflects a tightening of the belt about costs to buy (and to maintain)
All this tells me is, more lower priced Homes sold than Higher Priced Homes.