Living In Tallahassee – Top 10 New Construction Neighborhoods In 2022
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Originally Posted On: https://www.manausa.com/blog/tallahassee-top-10-new-construction-neighborhoods-2022/
Tallahassee is growing, and there are a lot of new construction neighborhoods that have popped up over the past few years. If you are wondering what we are building and where we are building them, you have come to the right place.
Today’s post identifies and examines the top 10 active new construction subdivisions in Tallahassee and includes all listings in each neighborhood as well as an evaluation of the homes and tables of all homes sold in each new neighborhood. The ten neighborhoods in our report have produced 61% of all new homes sold in 2022.
Whether you are in the market to buy a new home or just curious about what our builders have been up to, follow along as I count down the ten most active new construction neighborhoods in Tallahassee.
In this report, we will look at average home prices, average home values, and average home sizes in the top 10 new construction neighborhoods in Tallahassee for 2022.
For all of the charts in this report, you will find the number of closed home sales for each year (red columns, measured on the left vertical axis) and an important real estate statistic shown in blue (measured on the right vertical axis). These charts include new and existing homes, so the written portion of my analysis (which only includes new home sales) might be slightly different than what you see in the graphs.
It is important to note that the narrative below is for sales through December for all previous years but through four weeks of October 2022. The charts and the closed sales tables will be continuously updated in the future (meaning bookmark this page if you always want to know the current status of homes in these new neighborhoods).
Montejo In Southeast Tallahassee
Montejo comes in as the tenth-most active new construction neighborhood in Tallahassee with 11 new homes sold thus far in 2022. You can find Montejo by heading south on Woodville Highway from Four Points and turning left on Belair Road (about halfway between Four Points and Capital Circle SE).
Montejo Home Prices
Construction for this ill-timed community began in 2007, just as the housing bubble was ready to burst. The pace of building slowed, and home prices fell until 2018. Currently, the average new home price in Montejo thus far in 2022 is $257K, an increase of more than 30% compared to the average home price in 2021.
Montejo Home Values
The cost of building new homes is soaring due to supply chain disruptions, wage inflation, and overall inflation in the US. The average price per square foot of new homes in Montejo has risen a whopping 43% over last year’s costs and now sits at $182 per square foot. The cost increase in Montejo is near 4x the average increase reported for the other nine neighborhoods in this report.
Montejo Home Sizes
As construction costs have risen, we’ve seen the average size of homes being built in Montejo fall to help keep prices (somewhat) lower. The average size of homes built in Montejo in 2022 is 9% smaller than those built last year.
Montejo Home Sales
The following list shows all home sales in Montejo going back to 2008 (the year home sales began in Montejo).