Summerbrooke home sales are happening at the slowest rate on record, and this is not good for this Northeast Tallahassee golf course community. We recently performed a similar analysis on Golden Eagle Plantation and found it was having its best year since 2007. Currently, Summerbrooke has only recorded 16 home sales, which is 36% fewer than the 25 closed by this time last year.
The average price of recent Summerbrooke home sales have fallen 4% from last year's average and 25% since the peak of the market, which still puts Summerbrooke in the "better than average" group of Tallahassee neighborhoods. Perhaps this resistance to falling market prices is why we are seeing sales slow and why we should expect competition and pricing pressures to rise.
Unlike average home prices which spiked up last year when buyers opted for the larger homes, the average value of Summerbrooke home sales has continued on a steady decline since the peak of the market 5 years ago. This means that people who have already sold their homes in Summerbrooke have sold for more than the homeowners who decided to wait a year or two.
If you have to sell a home in Summerbrooke, just know that supply outweighs demand and will most likely be this way for many more years. It is highly likely that values will continue to decline, thus you should either sell your home now or prepare to hold the home another 5 to 7 years to get a higher value. Don't make the mistake of falling into the middle-ground, when the values will be lower than today.Click -> List Of ALL Recent Summerbrooke Home Sales