Tallahassee-Bainbridge, FL-GA

There is no doubt that the Tallahassee-Bainbridge, FL-GA combined statistical area (CSA) is a hotbed for real estate activity. The area has seen a surge in home sales and prices over the past few years, and there is no sign of this trend slowing down anytime soon.

The CSA is comprised of two major metropolitan areas – Tallahassee and Bainbridge – which are both growing rapidly. The population in Tallahassee has increased by nearly 10% since 2010, while Bainbridge has seen even more growth, with its population increasing by 15%. This growth is translating into strong demand for housing in the CSA.

Home sales have been on the rise in the CSA for several years now. In 2016, a total of 11,068 homes were sold in the CSA, which was up 9% from 2015. This trend has continued into 2017, with home sales rising another 8% through the first nine months of the year. Prices have also been on the rise, with the median home price in the CSA increasing from $155,000 in 2015 to $169,000 in 2016. This represents a healthy increase of 9%.

With strong population growth and robust demand for housing, it is no surprise that new construction activity is also booming in the CSA. A total of 2,872 new homes were built in 2016 – an increase of 22% from 2015. This trend looks set to continue into 2017 as well, with builders pulling 3% more permits through September than they did during the same period last year.

All indications point to continued strong growth for real estate in the Tallahassee-Bainbridge CSA over the next few years. With interest rates remaining low and job growth expected to remain strong, there is no reason to believe that this trend will slow down anytime soon. If you are thinking about buying or selling a home in this region, now is a great time to do so!