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Joe Manausa's Blog

Joe Manausa Tallahassee Real Estate Report

By Joe Manausa | Broker in Tallahassee, FL

Summerbrooke Home Sales Report 2012

Home values in Summerbrooke continued to decline in 2012, but sales were more brisk than they had been in the year prior.

The real estate graph at the right shows that distressed home sales are up, with thirty percent of all home sales being short sales, foreclosures, or bank owned homes.

Nevertheless, the rise in home sales is good news for residents of popular Northeast Tallahassee neighborhood, but many more are needed.

Summerbrooke Depreciation Continues

Currently, there are 19 homes for sale in Summerbrooke in the Tallahassee MLS.

Home values declined 3.3% in 2012, which is slightly worse than the overall Tallahassee housing market average.

Summerbrooke Home Values

It is highly likely that we will see Summerbrooke home values decline in 2013, as distressed properties for sale will continue to create pricing pressure on all Tallahassee home sales.

We know there are plenty more to clear from the shadow inventory, and only the pace at which they flow into the market will determine how fast the real estate recovery occurs.

>> See All Summerbrooke Home Sales In 2012 <<

 
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