Tallahassee Real Estate | Real Estate Tallahassee Florida | Homes For Sale Tallahassee
Century 21 Manausa & Associates - Tallahassee Real Estate
After many years of continual bad news, it seems that just about every recent Tallahassee real estate report is filled to the brim with good news.
While is easy to see that any good news is reason to smile, it is important to keep a vigilant eye on what is being reported and to identify the market segments that are truly improving.
This Tallahassee real estate report will show the four areas of Tallahassee and identify the ONE that is making all the fuss (good news 
)
I am often asked my opinion on real estate values across Tallahassee, and Betton home sales certainly ranks among the Tallahassee neighborhoods requested most frequently.
As popular Northeast Tallahassee neighborhoods situated inside of I-10, the Betton subdivisions (Betton Brook, Betton Estates, Betton Hill, Betton Hills, Betton Oaks, Betton Place and Betton Woods) offer homeowners a place to live that is convenient to the heart of Tallahassee and is only minutes from downtown.
Currently, there are 18 homes for sale in the Betton Neighborhoods.
Not surprisingly, the graph above shows that the distressed rate for Betton home sales is on the decline, and the past year’s average has fallen to just 8%.
We have been keeping a close eye on Southwood home sales for several years, and I believe we might be experiencing a significant shift in this popular Southeast Tallahassee neighborhood.
Currently, there are 59 homes for sale in Southwood, and the composition of sale types is changing.
The graph on the right measures two important trends for existing homeowners in Southwood, the new construction trend as well as the distressed Southwood home sales trend.
These trends will tell us much about future home values in Southwood.
As I was combing the Tallahassee MLS preparing for another Waverly Hills home sales report, I was pleasantly surprised to see that the last distressed home sale occurred there more than one year ago.
As we can see from the graph at the right, the distressed home sales trend (one year average) has been reduced to zero.
Considering the rest of the market is averaging more than 1 in 3 home sales as a short sale, foreclosure or banked owned property, Waverly Hills home sales appear to be much stronger.
The housing market recovery is well underway for homeowners in Killearn Lakes Plantation.
When we look at the graph above, we see that unit sales are growing, and 1 in 4 of them are coming from distressed home sales.
Currently, there are 49 homes for sale in Killearn Lakes Plantation, and many are priced at levels not seen in nearly 10 years.
If you want a simple and singular bellwether for the Tallahassee real estate market, you can use Killearn Estates home sales as a guide to the housing market recovery for most areas.
As one of the most active neighborhoods in Tallahassee, there are 46 homes for sale in Killearn Estates and they are starting to see the number of sales increase.
The graph above shows that both arms length home sales and distressed home sales are rising (where roughly 1 in every 6 Killearn Estates home sales is a short sale, foreclosure or bank owned property).
Piney Z home sales are finally starting to pick up, having seen the number of homes sold decline for 9 straight years!
2012 recorded 26 Piney Z home sales in the Tallahassee MLS, and 10 have already closed through March of 2013.
The real estate graph above shows that distressed home sales have been plentiful, but far below the Tallahassee average.
Currently there are 17 homes for sale in Piney Z, and 2013 looks like another upwardly trending year.
As Northeast Tallahassee begins to stabilize at the median home price level, a study of Killearn Acres is an effective way to see how the housing recovery is progressing.
The real estate graph above shows that roughly 2 in every 5 home sales in Killearn Acres is either a short sale, a foreclosure, or a bank owned property sale, which means arms length home sellers are fighting against a whole bunch of distressed properties as competition.
Currently, there are 12 homes for sale in Killearn Acres, and they range in price between $120,000 and $685,000, though most fall below $200,000.
Having posted 37 home sales in the Tallahassee MLS in 2012, Golden Eagle Plantation enjoyed its best year since 2007.
As one of the most active neighborhoods in the Tallahassee real estate market, we like to review this popular Tallahassee golf course community on a regular basis.
Currently, there are 42 homes for sale in Golden Eagle Plantation, and we are seeing some of the best asking prices in over 10 years.
Bull Run house values are in for a wild ride, as new home sales continue to lead existing home sales by a factor of 2 to 1.
New home construction in the Bull Run Subdivision has been relatively strong, mostly due to liquidation of lots at far cheaper prices than were seen during the boom of the housing market.
While this is good news for the builder, it is not so good news for existing home owners who continue to see Bull Run house values decline.
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