up median home prices and home value indexes. The US Commerce Department
reported this week that the median home price of a new construction home hit
$271,600 nationwide, a record high.
In Tallahassee, new home prices have risen, but not so dramatically. For
January through April of this year, the median price was $268,950, up slightly
over $261,229 for the same period a year earlier. Still, this new home price is
significantly higher than the median price of existing homes which is $180,000.
The difference in price reflects several factors: buyers are willing to pay
more for new homes; these homes tend to be decked out with more features; and
builders are selling more move-up homes which tend to be larger.
Want to see how your home value stacks up? Go to http://www.tallahome.com/homevalue
or http://www.homevaluetallahassee.com for your free e-Valuation.