Home buyers are paying significantly more for new construction homes, driving
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.
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.
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