New Home Construction Market Finds Yet Another Bottom

By
Real Estate Agent with Joe Manausa Real Estate 8508880888
http://actvra.in/BrL

Tallahassee Home Construction Is Declining Century 21 Manausa and Associates 1140 Capital Circle SE #12A Tallahassee, FL 32301 (850) 366-8917  www.manausa.comNew home construction activity has dwindled to a very low level as the real estate market works through the excess inventory of homes for sale.

In this blog post, we examine the current state of the new home construction market as we head full steam into the 2012 Summer months.

The real estate graph at the right shows the number of home sales each year, with existing home sales shown in green, and new new home construction shown in red. The picture tells the story, new construction has declined greatly.

New Home Construction By Year

The following graph shows the breakdown of new home sales versus existing home sales each year in the Tallahassee MLS, going back to 2004. Additionally, property types are segmented to show market saturation levels.

New Home Construction Tallahassee Versus Existing Home Sales Century 21 Manausa and Associates 1140 Capital Circle SE #12A Tallahassee, FL 32301 (850) 366-8917 www.manausa.com

While all new home construction is depressed in Tallahassee, look at the near-zero levels of blue and green for new construction of condos and townhouses for the past several years.

New Home Construction By Area

If you are curious about what it costs to build a home in Tallahassee, the graph below shows a by area analysis of new construction prices.

New Home Construction Tallahassee By Area Century 21 Manausa and Associates 1140 Capital Circle SE #12A Tallahassee, FL 32301 (850) 366-8917 www.manausa.com

The most expensive homes are being built in the Northeast quadrant of Tallahassee, and only the Southwest quadrant is seeing values still falling (most likely continued liquidation of excess new construction supply.

New Home Construction Video

Anytime I write about new home construction in Tallahassee, I like to include my very first "."

I took a picture each day of a 5000 square foot home being built, then compiled it into this time-lapse new home construction video. It has been viewed over 100,000 times on Youtube, and people from all around the world have commented on it. Tell me what you think!

I hope you enjoyed our new home construction video and if you would like to know more about building a home in Tallahassee, just drop me a note and I will schedule a time for us to discuss how to save a lot of money when you build.

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Rainmaker
725,209
Elite Home Sales Team
Keller Williams Realty - San Clemente, CA
A Tenacious and Skilled Real Estate Team

Our markets are very slim in inventory and prices in our area are stubborn.  The low price and low inventory creates an urgency on all listings.

May 22, 2012 07:09 AM #1
Rainmaker
805,405
Joe Manausa
Joe Manausa Real Estate - Tallahassee, FL
Tallahassee Real Estate

Well, color me jealous Mark. I look forward to seeing supply and demand battle each other again.

May 22, 2012 07:13 AM #2
Rainmaker
535,280
Morgan Evans
Douglas Elliman Real Estate - Manhattan, NY
LICENSED REAL ESTATE SALESPERSON

I always like to see how new construction homes sell in different areas.  Here in Manhattan they are a very small, but highly desired segment of the market.  For somebody looking to purchase a New construction home for sale in Talahassee area this is a must read.

 

May 22, 2012 07:35 AM #3
Rainmaker
805,405
Joe Manausa
Joe Manausa Real Estate - Tallahassee, FL
Tallahassee Real Estate

Thank you Morgan, I'm the same way. Numbers from all over give the overview I want.

May 23, 2012 07:22 AM #4
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Rainmaker
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Joe Manausa

Tallahassee Real Estate
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