Tallahassee Real Estate | Real Estate Tallahassee Florida | Homes For Sale Tallahassee
Century 21 Manausa & Associates - Tallahassee Real Estate
If you have had your home on the market for a while and have been told to “lower it,” do you even know how to accurately price your home so that it sells?
Do you just lop off 5 to 10 percent, or is there a more “scientific” way to determine a home’s value that will attract the kind of buyer frenzy that is required to sell a home today?
Well, the answer to this one is rather simple.
There always seems to be somebody pushing the “now is the time to buy” (buy a home) agenda, so we like to analyze market conditions on a regular basis in order to refute or confirm that claim.
This “Black Friday Blog Post” will show you two real estate graphs that contain more than 20 years of collected data on house sales in Tallahassee, and then you can be the judge of whether or not now is the best time to purchase a real estate investment.
As the top-selling neighborhood in Tallahassee, Killearn Estates is having its best year for home sales since 2007.
While home values are still on the decline, unit sales are on the rise, and the inventory of homes for sale in Killearn Estates is down to just 56 houses.
Homeowners in the Ox Bottom neighborhoods are seeing a lower and slower housing market when compared to many of the other NE Tallahassee neighborhoods. This collection of traditionally very popular subdivisions has seen home sales slow faster than the rest of Tallahassee, and home values have dropped at a faster rate as well. Currently, there are 26 homes for sale in Ox Bottom, which includes the Deerwood At Ox Bottom Manor, Ox Bottom, Ox Bottom Gardens, Ox Bottom Manor, and Ox Bottom Reserve.
Home sales in the Ox Bottom Neighborhoods have picked-up slightly over last year’s “worst-ever” performance, but they still are well below one-half the rate these communities would expect to see in normal years. Based upon this current rate of sales, the relative supply of homes for sale in the Ox Bottom neighborhoods is right around 12 months of supply.
The average price of a home sold in the Ox Bottom Neighborhoods this year is $287K, which is down 36% from the $450K average home sales price that was recorded in 2006. The real estate graph below shows that home prices are right back where they were in 2003, and the trend is still declining.
More importantly, the Ox Bottom neighborhoods have seen home values decline 31% from $169 per square foot in 2006 to just $117 per square foot through November in 2011. The real estate graph below shows that this trend is still on a downward path, so home seller’s should expect to get less money for their homes next year than they would have received in 2011. This means that homeowners who are thinking about selling a home in Ox Bottom should either plan to hold onto the home for many more years, or sell it as fast as possible to get the top dollar in a declining real estate market.
| Neighborhood | Address | SP | Price/ SQF | Closing Date | Year Built | SQF |
| Ox Bottom Manor | 355 Milestone Drive | $255,000 | $108 | 11/30/2011 | 1994 | 2,357 |
| Ox Bottom Manor | 205 Hawk Meadow Dr | $341,700 | $107 | 11/8/2011 | 1990 | 3,185 |
| Ox Bottom Manor | 6392 Belgrand Drive | $299,900 | $131 | 9/9/2011 | 1995 | 2,283 |
| Ox Bottom Manor | 489 Meadow Ridge Drive | $345,000 | $114 | 8/29/2011 | 1997 | 3,017 |
| Ox Bottom Manor | 511 Meadow Ridge Court | $280,000 | $127 | 8/26/2011 | 1997 | 2,205 |
| Ox Bottom Reserve | 2104 Dewberry Court | $275,000 | $104 | 8/25/2011 | 2004 | 2,634 |
| Ox Bottom Manor | 6030 Quail Ridge | $265,000 | $98 | 8/24/2011 | 1992 | 2,715 |
| Ox Bottom Manor | 6266 Hines Hill Circle | $270,000 | $127 | 8/19/2011 | 1992 | 2,123 |
| Ox Bottom | 250 Thornberg Dr | $310,000 | $120 | 8/15/2011 | 1997 | 2,585 |
| Ox Bottom | 7075 Ox Bow Road | $487,400 | $128 | 7/30/2011 | 1994 | 3,796 |
| Ox Bottom | 7339 Ox Bow Circle | $530,000 | $146 | 7/15/2011 | 1999 | 3,627 |
| Ox Bottom Manor | 6121 Borderline Drive | $313,500 | $127 | 7/1/2011 | 1993 | 2,475 |
| Ox Bottom Manor | 342 Milestone Drive | $296,500 | $124 | 6/15/2011 | 1989 | 2,400 |
| Ox Bottom Manor | 292 Thornberg Drive | $275,000 | $128 | 6/15/2011 | 1996 | 2,145 |
| Ox Bottom Manor | 6260 Hines Hill Circle | $230,500 | $107 | 6/15/2011 | 1993 | 2,159 |
| Ox Bottom Gardens | 176 Sugar Plum Drive | $213,000 | $119 | 5/6/2011 | 1996 | 1,787 |
| Deerwood At Ox Bottom Manor | 6243 Buck Run Circle | $192,500 | $76 | 3/28/2011 | 2008 | 2,520 |
| Ox Bottom Gardens | 125 Love Ridge Court | $165,000 | $104 | 3/28/2011 | 1995 | 1,592 |
| Ox Bottom Manor | 6266 Hines Hill Circle | $240,500 | $113 | 3/8/2011 | 1992 | 2,123 |
| Ox Bottom Gardens | 128 Sugar Plum Drive | $190,000 | $109 | 2/17/2011 | 1996 | 1,751 |
| Ox Bottom Manor | 6272 Whittondale Drive | $255,000 | $114 | 2/9/2011 | 1998 | 2,241 |
| Ox Bottom Manor | 6355 Belgrand Drive | $215,000 | $107 | 2/4/2011 | 1998 | 2,008 |
| Ox Bottom Manor | 6332 Glasgow Dr | $315,000 | $115 | 1/28/2011 | 1996 | 2,750 |
| Ox Bottom Manor | 6321 Sinkola Drive | $330,000 | $131 | 1/11/2011 | 2007 | 2,516 |
| Ox Bottom Manor | 107 Hawkmeadow Drive | $255,000 | $117 | 12/30/2010 | 1993 | 2,179 |
| Ox Bottom Manor | 6416 Mallard Trace Drive | $290,000 | $135 | 12/23/2010 | 1997 | 2,153 |
| Ox Bottom Manor | 335 Milestone Dr | $365,000 | $114 | 12/17/2010 | 1991 | 3,196 |
| Ox Bottom Manor | 515 Meadow Ridge Court | $292,500 | $123 | 11/16/2010 | 1996 | 2,378 |
| Ox Bottom | 6378 Ox Bow Run | $570,907 | $113 | 11/12/2010 | 2005 | 5,039 |
| Ox Bottom Manor | 521 Meadow Ridge Court | $316,000 | $118 | 10/15/2010 | 2001 | 2,676 |
| Ox Bottom Manor | 322 Thornberg Drive | $322,000 | $121 | 9/24/2010 | 1996 | 2,663 |
| Ox Bottom Gardens | 132 Love Ridge | $195,000 | $119 | 9/17/2010 | 1996 | 1,638 |
| Ox Bottom | 6110 Borderline | $299,000 | $146 | 8/20/2010 | 1991 | 2,048 |
| Ox Bottom | 275 Thornberg Dr | $300,000 | $130 | 8/13/2010 | 1997 | 2,301 |
| Ox Bottom Manor | 6108 Ox Bottom Manor Drive | $325,000 | $117 | 8/5/2010 | 1990 | 2,770 |
| Ox Bottom | 6330 Coach House Court | $247,000 | $114 | 6/25/2010 | 1993 | 2,169 |
| Ox Bottom Manor | 6115 Ox Bottom Manor Drive | $335,000 | $121 | 6/24/2010 | 1989 | 2,768 |
| Ox Bottom Manor | 143 Thistlewood Court | $283,000 | $136 | 6/7/2010 | 1997 | 2,074 |
| Ox Bottom Manor | 6335 Belgrand Drive | $295,000 | $136 | 6/1/2010 | 2001 | 2,174 |
| Ox Bottom Manor | 6259 Hines Hill Circle | $265,000 | $125 | 4/20/2010 | 1993 | 2,116 |
| Ox Bottom Manor | 6011 Quail Ridge Lane | $312,500 | $124 | 3/31/2010 | 1995 | 2,512 |
| Ox Bottom | 518 Meadow Ridge Drive | $337,000 | $131 | 3/15/2010 | 1996 | 2,575 |
| Ox Bottom Manor | 6114 Borderline Dr | $390,000 | $114 | 3/9/2010 | 1991 | 3,426 |
| Ox Bottom Manor | 209 Thornberg Dr. | $350,000 | $123 | 3/1/2010 | 1999 | 2,853 |
| Ox Bottom Manor | 365 Meadow Ridge Drive | $392,000 | $107 | 2/26/2010 | 1995 | 3,657 |
| Ox Bottom Manor | 6011 Ox Bottom Manor Drive | $280,000 | $132 | 2/12/2010 | 1992 | 2,128 |
| Ox Bottom Manor | 6211 Buck Run Cir | $335,000 | $136 | 12/18/2009 | 2007 | 2,472 |
| Ox Bottom Manor | 421 Meadow Ridge Drive | $387,500 | $136 | 12/2/2009 | 1999 | 2,855 |
| Ox Bottom Reserve | 2101 Dewberry Court | $350,000 | $140 | 11/30/2009 | 2005 | 2,495 |
| Ox Bottom Manor | 398 Meadow Ridge Drive | $265,000 | $101 | 11/25/2009 | 1996 | 2,634 |
| Ox Bottom Manor | 6344 Glasgow Drive | $437,500 | $130 | 11/24/2009 | 1996 | 3,361 |
| Ox Bottom Manor | 6328 Mallard Trace | $270,000 | $137 | 11/18/2009 | 1993 | 1,971 |
| Ox Bottom Gardens | 6004 Love Ridge Rd | $211,000 | $125 | 10/30/2009 | 1995 | 1,689 |
| Deerwood At Ox Bottom Manor | 501 Rogers Lane | $488,000 | $159 | 9/28/2009 | 2006 | 3,073 |
| Ox Bottom Manor | 147 Cotillion Circle | $325,000 | $128 | 9/18/2009 | 1995 | 2,533 |
| Ox Bottom Manor | 6318 Coach House Court | $340,000 | $150 | 8/31/2009 | 2001 | 2,268 |
| Ox Bottom Gardens | 6007 Love Ridge Drive | $260,000 | $131 | 8/28/2009 | 1994 | 1,985 |
| Ox Bottom Manor | 442 Meadow Ridge Drive | $340,000 | $128 | 8/21/2009 | 1998 | 2,661 |
| Ox Bottom Manor | 6333 Sinkola Dr | $325,000 | $135 | 7/31/2009 | 1996 | 2,400 |
| Ox Bottom Manor | 6261 Buck Run Circle | $424,000 | $146 | 6/30/2009 | 2009 | 2,908 |
| Ox Bottom Manor | 6392 Belgrand Drive | $335,000 | $147 | 6/29/2009 | 1995 | 2,277 |
| Ox Bottom Manor | 509 Meadow Ridge Drive | $285,000 | $127 | 6/26/2009 | 2000 | 2,249 |
| Ox Bottom | 522 Meadow Ridge Drive | $399,900 | $136 | 5/29/2009 | 1996 | 2,934 |
| Ox Bottom Manor | 526 Meadow Ridge Dr | $335,000 | $126 | 5/29/2009 | 1995 | 2,656 |
| Ox Bottom Manor | 454 San Martin Drive | $400,000 | $140 | 5/15/2009 | 1996 | 2,860 |
| Ox Bottom Gardens | 160 Sugar Plum Dr | $228,000 | $128 | 5/15/2009 | 1995 | 1,782 |
| Ox Bottom | 1809 Morning Star Lane | $510,000 | $112 | 4/30/2009 | 1988 | 4,568 |
| Ox Bottom | 6000 Boynton Homestead | $555,000 | $130 | 4/28/2009 | 1990 | 4,255 |
| Ox Bottom Manor | 6115 Ox Bottom Manor Drive | $339,000 | $122 | 4/27/2009 | 1989 | 2,768 |
| Ox Bottom Manor | 6143 Borderline Dr | $300,000 | $136 | 3/26/2009 | 1991 | 2,208 |
| Ox Bottom Manor | 6305 Coach House Court | $294,500 | $108 | 3/17/2009 | 1992 | 2,737 |
| Ox Bottom Manor | 6393 Mallard Trace Drive | $250,000 | $112 | 2/25/2009 | 1995 | 2,237 |
| Ox Bottom Manor | 558 Meadow Ridge Dr | $441,000 | $158 | 12/4/2008 | 1995 | 2,800 |
| Ox Bottom Manor | 6320 Glasgow Drive | $415,000 | $136 | 9/29/2008 | 1997 | 3,061 |
| Ox Bottom Manor | 421 Meadow Ridge Drive | $412,500 | $144 | 9/25/2008 | 1999 | 2,855 |
| Ox Bottom Manor | 211 Meadow Ridge Dr | $465,000 | $137 | 9/18/2008 | 1991 | 3,400 |
| Ox Bottom | 6000 Boynton Homestead | $539,000 | $127 | 9/17/2008 | 1990 | 4,255 |
| Ox Bottom Manor | 6359 San Martin Court | $324,000 | $145 | 8/21/2008 | 1997 | 2,238 |
| Ox Bottom Manor | 6018 Quail Ridge Dr | $340,000 | $139 | 8/8/2008 | 1989 | 2,442 |
| Ox Bottom Manor | 187 Meadow Ridge Drive | $345,000 | $142 | 7/28/2008 | 1993 | 2,433 |
| Ox Bottom Manor | 363 Milestone Drive | $310,000 | $131 | 7/28/2008 | 1992 | 2,361 |
| Ox Bottom Manor | 6256 Hines Hill Cir | $355,000 | $138 | 7/16/2008 | 1993 | 2,569 |
| Ox Bottom Gardens | 200 Sugar Plum Drive | $275,000 | $129 | 7/15/2008 | 1995 | 2,131 |
| Ox Bottom Manor | 6012 Ox Bottom Manor Dr | $400,000 | $141 | 7/3/2008 | 1992 | 2,843 |
| Ox Bottom Manor | 6421 Mallard Trace Dr | $387,500 | $150 | 6/30/2008 | 1994 | 2,580 |
| Ox Bottom Manor | 347 Thornberg Drive | $364,900 | $140 | 6/23/2008 | 1996 | 2,608 |
| Ox Bottom Manor | 417 Meadow Ridge Drive | $449,000 | $140 | 6/9/2008 | 1997 | 3,202 |
| Ox Bottom Manor | 352 Meadow Ridge Dr | $340,000 | $127 | 6/5/2008 | 1995 | 2,684 |
| Ox Bottom Manor | 341 Meadow Ridge Drive | $400,000 | $154 | 5/29/2008 | 1994 | 2,603 |
| Ox Bottom Manor | 6369 Mallard Trace Drive | $380,000 | $130 | 5/23/2008 | 1998 | 2,917 |
| Ox Bottom | 2031 Chimney Swift Hollow | $590,000 | $168 | 5/14/2008 | 1979 | 3,513 |
| Ox Bottom | 6000 Boynton Homestead | $500,000 | $118 | 5/14/2008 | 1990 | 4,255 |
| Ox Bottom | 2092 Ox Bottom Road | $400,000 | $147 | 5/1/2008 | 1988 | 2,728 |
| Ox Bottom | 8015 Evening Star | $437,400 | $146 | 4/9/2008 | 1990 | 3,006 |
| Ox Bottom | 7956 Evening Star | $1,095,000 | $260 | 3/31/2008 | 2008 | 4,208 |
| Ox Bottom Manor | 6330 Belgrand Drive | $490,000 | $166 | 3/28/2008 | 1997 | 2,953 |
| Ox Bottom Manor | 6309 Pickney Hill Road | $407,500 | $151 | 2/5/2008 | 1995 | 2,692 |
| Ox Bottom Manor | 6018 Quail Ridge Dr | $323,900 | $133 | 1/10/2008 | 1989 | 2,442 |
If you haven’t seen the Forest Heights neighborhood in Tallahassee, I recommend you make a little field trip to see what a real estate investor’s delight should like like. I recently looked at the list of homes for sale in Forest Heights and found several that would my investor clients a very strong rate of return over the next ten years. But apparently, I’m not the only one who has noticed.
Home sales are getting stronger in the Forest Heights neighborhood in Tallahassee, and this year already shows to have more home sales than any year prior going back to 2006. Real estate investors have found that the combination of value, location, and strong rental demand make this popular community in the 32303 zip code a very smart buy.
For example, there is a home listed for sale on Sharon Road that is priced the same as it would have been over 10 years ago, but rental rates are far higher. Investor yield in real estate is on the rise, and the Forest Heights Neighborhood in Tallahassee is centered on their radar.
The average sales price of a home in the Forest Heights Neighborhood in Tallahassee continues to fall, which only increases the opportunity for high returns for investors. When we look at the real estate graph below, we see unit sales rising while prices are dropping, which usually occurs right before a change in direction on prices (read that to mean … get ‘em while their hot!).
We can see the decline of home values in the Forest Heights Neighborhood in Tallahassee seems to have come to an end, as values have bottomed while unit sales are rising. This only confirms that now might be the best time to buy a home in Forest Heights.
| Address | Sales Price | Price/SQF | Closing Date | Year Built | SQF | Type |
| 1813 High Road | $100,000 | $76 | 10/27/2011 | 1956 | 1,312 | Existing |
| 1404 Sharon Road | $114,900 | $65 | 9/8/2011 | 1958 | 1,775 | Existing |
| 1830 Sunset Lane | $105,000 | $75 | 8/24/2011 | 1956 | 1,404 | Existing |
| 1514 Sharon Road | $106,000 | $65 | 7/22/2011 | 1954 | 1,627 | Existing |
| 1801 Sherwood Drive | $179,900 | $93 | 7/15/2011 | 1975 | 1,936 | Existing |
| 1922 Sharon Road | $143,000 | $85 | 6/16/2011 | 1962 | 1,686 | Existing |
| 1907 Sunset Lane | $155,000 | $124 | 6/15/2011 | 1974 | 1,252 | Existing |
| 1908 Skyland Drive | $181,500 | $86 | 5/15/2011 | 1968 | 2,100 | Existing |
| 1904 Fairlane Road | $108,000 | $74 | 4/12/2011 | 1958 | 1,458 | Existing |
| 1416 Sharon Road | $100,000 | $55 | 3/2/2011 | 1953 | 1,833 | Existing |
| 1418 Tharpe Street | $60,000 | $51 | 1/31/2011 | 1955 | 1,168 | Existing |
| 1808 Skyland Drive | $135,900 | $85 | 1/28/2011 | 1968 | 1,598 | Existing |
| 1400 Tharpe Street | $101,300 | $80 | 1/28/2011 | 1960 | 1,260 | Existing |
| 1909 Sherwood Drive | $156,000 | $76 | 1/13/2011 | 1963 | 2,062 | Existing |
| 1738 Sunset Lane | $135,000 | $86 | 12/2/2010 | 1958 | 1,567 | Existing |
| 1822 Sherwood Drive | $140,000 | $63 | 10/27/2010 | 1968 | 2,228 | Existing |
| 1901 Fairlane Road | $110,000 | $89 | 10/15/2010 | 1955 | 1,232 | Existing |
| 1810 Sherwood | $159,000 | $87 | 9/28/2010 | 1957 | 1,826 | Existing |
| 1505 Sunset Lane | $150,000 | $78 | 8/24/2010 | 1956 | 1,924 | Existing |
| 1905 Holly Street | $58,500 | $53 | 7/21/2010 | 1959 | 1,108 | Existing |
| 1513 Sharon Road | $114,200 | $67 | 6/14/2010 | 1957 | 1,695 | Existing |
| 2003 Holly Street | $142,000 | $101 | 5/28/2010 | 1958 | 1,411 | Existing |
| 1801 Sunset Lane | $155,000 | $81 | 2/19/2010 | 1956 | 1,916 | Existing |
| 1309 Sharon Road | $149,900 | $102 | 11/19/2009 | 1959 | 1,464 | Existing |
| 1906 Fairlane Road | $141,000 | $108 | 11/17/2009 | 1960 | 1,300 | Existing |
| 1322 Sharon Road | $123,000 | $84 | 11/13/2009 | 1959 | 1,464 | Existing |
| 1829 Sharon Rd | $150,000 | $96 | 10/30/2009 | 1955 | 1,556 | Existing |
| 1912 Sharon Road | $150,000 | $54 | 10/30/2009 | 1960 | 2,800 | Existing |
| 1906 High Road | $115,000 | $77 | 6/30/2009 | 1960 | 1,500 | Existing |
| 1905 Sherwood Drive | $170,000 | $110 | 6/19/2009 | 1960 | 1,548 | Existing |
| 1719 Sharon Road | $165,000 | $105 | 6/8/2009 | 1956 | 1,565 | Existing |
| 1326 Sharon Road | $119,900 | $109 | 4/30/2009 | 1950 | 1,100 | Existing |
| 1907 Sharon Rd | $170,000 | $108 | 3/12/2009 | 1958 | 1,575 | Existing |
| 1730 Sharon Road | $97,000 | $79 | 1/29/2009 | 1956 | 1,232 | Existing |
| 1709 Sunset Lane | $115,000 | $91 | 10/24/2008 | 1956 | 1,264 | Existing |
| 1907 Sunset Lane | $185,600 | $104 | 8/22/2008 | 1974 | 1,784 | Existing |
| 1512 Sunset Lane | $150,000 | $104 | 8/8/2008 | 1956 | 1,442 | Existing |
| 1914 Sherwood Drive | $185,000 | $110 | 7/31/2008 | 1965 | 1,680 | Existing |
| 1814 Sunset Ln | $202,500 | $94 | 7/14/2008 | 1956 | 2,150 | Existing |
| 2003 Rosedale Dr | $170,000 | $94 | 5/13/2008 | 1954 | 1,816 | Existing |
| 1806 Croydon Dr | $105,000 | $76 | 3/31/2008 | 1954 | 1,390 | Existing |
| 1803 Sherwood Drive | $159,900 | $127 | 2/8/2008 | 1975 | 1,260 | Existing |
| 1821 Sharon Rd | $140,000 | $76 | 2/1/2008 | 1957 | 1,842 | Existing |
| 1809 Sharon Road | $167,000 | $93 | 1/23/2008 | 1956 | 1,800 | Existing |
| 1502 Sharon Road | $149,000 | $109 | 10/19/2007 | 1983 | 1,372 | Existing |
| 1802 Sharon Road | $178,000 | $126 | 8/31/2007 | 1956 | 1,418 | Existing |
| 1838 Sunset Lane | $167,500 | $116 | 8/17/2007 | 1957 | 1,448 | Existing |
| 1913 Sherwood Dr | $275,000 | $88 | 8/16/2007 | 1960 | 3,136 | Existing |
| 1514 W Tharpe Street | $187,500 | $116 | 8/3/2007 | 1953 | 1,617 | Existing |
| 1923 Sharon Rd | $225,000 | $98 | 7/24/2007 | 1960 | 2,294 | Existing |
| 1918 Sherwood Dr | $210,000 | $119 | 6/27/2007 | 1966 | 1,764 | Existing |
| 1737 Sunset Lane | $195,000 | $104 | 5/22/2007 | 1956 | 1,883 | Existing |
| 1833 Sharon Rd. | $168,000 | $137 | 5/15/2007 | 1956 | 1,225 | Existing |
| 2006 Croydon Dr | $199,000 | $83 | 5/15/2007 | 1969 | 2,393 | Existing |
| 1903 Sherwood Dr | $187,000 | $130 | 4/27/2007 | 1968 | 1,435 | Existing |
| 1733 Sunset Lane | $188,000 | $94 | 12/22/2006 | 1957 | 2,000 | Existing |
| 1905 Rosedale Drive | $232,000 | $104 | 12/12/2006 | 1954 | 2,230 | Existing |
| 1713 Sharon Rd | $135,000 | $80 | 10/25/2006 | 1958 | 1,689 | Existing |
| 1911 Sunset Lane | $198,000 | $128 | 9/11/2006 | 1959 | 1,547 | Existing |
| 1903 Holly | $138,500 | $127 | 8/7/2006 | 1957 | 1,088 | Existing |
| 1705 Sunset Ln | $210,000 | $115 | 8/4/2006 | 1956 | 1,826 | Existing |
| 1416 Hilltop Dr | $168,000 | $93 | 7/21/2006 | 1958 | 1,811 | Existing |
| 1902 High Road | $145,000 | $106 | 7/12/2006 | 1956 | 1,369 | Existing |
| 1406 W Tharpe St | $145,000 | $163 | 6/23/2006 | 1954 | 890 | Existing |
| 1910 Sunset Lane | $201,200 | $124 | 6/22/2006 | 1959 | 1,628 | Existing |
| 1903 Skyland Drive | $230,000 | $107 | 6/6/2006 | 1966 | 2,140 | Existing |
| 1503 Hilltop Dr | $194,000 | $113 | 5/31/2006 | 1960 | 1,716 | Existing |
| 1506 Sharon Rd. | $131,500 | $108 | 5/23/2006 | 1956 | 1,216 | Existing |
| 1908 Croydon Dr. | $212,000 | $98 | 5/1/2006 | 1956 | 2,154 | Existing |
| 1738 Sunset Lane | $170,000 | $108 | 4/28/2006 | 1958 | 1,567 | Existing |
| 1904 Sherwood Drive | $225,000 | $110 | 2/28/2006 | 1962 | 2,050 | Existing |
| 1806 Skyland | $225,000 | $99 | 2/27/2006 | 1966 | 2,271 | Existing |
| 1826 Sharon Road | $165,950 | $92 | 2/22/2006 | 1957 | 1,806 | Existing |
| 1814 Sunset Ln. | $160,000 | $94 | 2/7/2006 | 1956 | 1,700 | Existing |
Please come back again to see more reports on the Forest Heights neighborhood in Tallahassee, as well as many others!
The Bull Run neighborhood in Tallahassee is still a new construction market, where 65% of homes sold there this year have just been built. This is very contrary to most of the rest of the Tallahassee housing market, where new home growth is almost non-existent. Currently, when we look at the homes for sale in Bull Run, only 5 of the 21 listed homes were built prior to 2011, which means existing home sellers are very few and far between right now.
Reminder: The 44th edition of the Tallahasee Real Estate Newsletter went out to subscribers this morning. You can join the list of homebuyers, homeowners, real estate professionals and bankers who also get the top free resource for real estate in Tallahassee by clicking the newsletter image on the right.
Of course, this is not a big surprise. This popular Northeast Tallahassee neighborhood only began to sell homes in 2005, and the majority of homeowners in Bull Run have only lived in their homes for less than five years, meaning that they have not yet reached the time frame in which most homeowners typically move (historically, 5 to 7 years for this demographic).
Nevertheless, home values are on the decline in Bull Run, just as they are everywhere else in Tallahassee. While sales remain relatively steady, homebuyers are getting new construction homes at prices which are 16% below what buyers paid just a few years ago. This is attracting a small, but steady growth of new people into Bull Run.
The average price of a home sold in Bull Run this year has been just under $290,000, down from $299,000 in 2010 and $292,000 in 2009. This is very little price fluctuation and at face value is rare in a market that has been seeing significant declines in average home prices over the past few years.
Home values have been on a steady decline in Bull Run, just as they have everywhere else in the Tallahassee real estate market. But the rate of decline (down 20% since the peak) is far better than any other neighborhood in Tallahassee that we have analyzed.
We we separate new home sales from existing home sales, we find that existing home sales have depreciated at 25%, which is consistent with similar home types in the Northeast Tallahassee housing market. It is the bulk of new home sales that has created the appearance of slower depreciation in Bull Run.
Unlike the rest of the Tallahassee housing market, where we are seeing larger home sizes while prices drop, Bull Run is seeing smaller home sizes while prices drop. This is a sign that homebuyers are willing to pay a premium for new construction in this popular Northeast neighborhood right now, and hopefully when the sell cycle hits in Bull Run, they will be able to weather the storm until all the resales wash through the market.
Homeowners in Bull Run can expect to see a continued stream of new homes being built in order to liquidate the abundance of developed lots. As prices and values continue to decline, this means that land values will be (and currently are) falling fast. It will take many years to work through the available lots, so homeowners will face stiff competition against new home sales for many more years to come.
If you own a home in Bull Run and want to explore your options, just drop me a note and we can meet and review your current value and opportunities you might not yet have considered.
| Address | Sales Price | Price/SQF | Closing Date | Year Built | SQF | Type |
| 5621 Ringold Lane | $284,900 | $142 | 11/10/2011 | 2011 | 2,005 | New |
| 2542 Bennitts Mill Way | $313,700 | $148 | 10/28/2011 | 2011 | 2,124 | New |
| 2580 Ulysses Rd | $309,900 | $146 | 10/21/2011 | 2011 | 2,124 | New |
| 5625 Ringold Lane | $289,320 | $144 | 9/30/2011 | 2011 | 2,005 | New |
| 2617 Manassas Way | $269,900 | $130 | 9/28/2011 | 2011 | 2,070 | New |
| 2541 Lagrange Trail | $296,000 | $128 | 9/9/2011 | 2008 | 2,318 | Existing |
| 2586 Ulysses Rd | $274,297 | $152 | 8/26/2011 | 2011 | 1,809 | New |
| 2558 Manassas Way | $249,900 | $142 | 8/15/2011 | 2011 | 1,755 | New |
| 2539 Bennits Mill Way | $299,900 | $145 | 8/15/2011 | 2011 | 2,074 | New |
| 5647 Burnside Cir | $239,500 | $126 | 8/11/2011 | 2007 | 1,899 | Existing |
| 2560 Carthage Lane | $305,000 | $140 | 7/29/2011 | 2011 | 2,184 | New |
| 2605 Farragut Way | $242,900 | $145 | 7/27/2011 | 2011 | 1,670 | New |
| 5641 Ringold Lane | $304,900 | $147 | 7/22/2011 | 2011 | 2,074 | New |
| 2595 Farragut Way | $269,900 | $130 | 7/15/2011 | 2011 | 2,070 | New |
| 5853 Appomattox Way | $266,000 | $129 | 7/15/2011 | 2008 | 2,070 | New |
| 2544 Carthage Lane | $305,826 | $147 | 6/29/2011 | 2011 | 2,081 | Existing |
| 2554 Manassas Way | $239,900 | $144 | 6/1/2011 | 2011 | 1,670 | Existing |
| 2556 Carthage Lane | $288,000 | $146 | 5/27/2011 | 2011 | 1,972 | Existing |
| 2587 Ulysses Rd | $309,900 | $146 | 5/27/2011 | 2011 | 2,124 | New |
| 2595 Halleck Lane | $276,040 | $137 | 5/27/2011 | 2011 | 2,008 | New |
| 2587 Farragut Way | $252,900 | $139 | 5/25/2011 | 2011 | 1,825 | New |
| 2537 Ulysses Rd | $263,000 | $155 | 4/29/2011 | 2011 | 1,700 | New |
| 2509 Ulysses Rd | $269,900 | $154 | 4/25/2011 | 2010 | 1,748 | New |
| 2704 Breton Ridge Dr | $400,000 | $121 | 4/22/2011 | 2006 | 3,305 | Existing |
| 2538 Lagrange Trail | $279,900 | $141 | 4/15/2011 | 2011 | 1,990 | New |
| 2639 Ulysses Rd | $260,000 | $114 | 4/1/2011 | 2006 | 2,272 | Existing |
| 2533 Carthage Lane | $285,000 | $138 | 3/28/2011 | 2008 | 2,072 | Existing |
| 5636 Burnside Circle | $275,000 | $122 | 3/25/2011 | 2006 | 2,257 | Existing |
| 2549 Lagrange Trail | $370,000 | $161 | 2/28/2011 | 2011 | 2,297 | New |
| 5755 Farnsworth Drive | $405,690 | $150 | 2/24/2011 | 2011 | 2,700 | New |
| 2591 Ulysses Road | $299,900 | $145 | 2/3/2011 | 2010 | 2,074 | New |
| 5632 Burnside Circle | $242,000 | $125 | 1/21/2011 | 2006 | 1,941 | Existing |
| 2540 Ulysses Rd | $361,000 | $136 | 1/14/2011 | 2008 | 2,650 | Existing |
| 5682 Burnside Circle | $244,900 | $121 | 1/7/2011 | 2006 | 2,022 | Existing |
| 2615 Ulysses Road | $279,900 | $141 | 12/29/2010 | 2010 | 1,990 | New |
| 2504 Ulysses Road | $319,900 | $158 | 12/17/2010 | 2010 | 2,020 | New |
| 2534 Bennits Mill Way | $303,200 | $135 | 12/17/2010 | 2010 | 2,244 | New |
| 2594 Halleck Lane | $274,400 | $157 | 12/1/2010 | 2010 | 1,748 | New |
| 2649 Antietam Trail | $324,000 | $127 | 11/29/2010 | 2005 | 2,545 | Existing |
| 2530 Manassas Way | $246,850 | $148 | 11/5/2010 | 2010 | 1,670 | Existing |
| 5698 Burnside Circle | $253,000 | $123 | 10/22/2010 | 2007 | 2,058 | Existing |
| 2570 Halleck Lane | $269,900 | $130 | 9/30/2010 | 2010 | 2,070 | Existing |
| 2526 Manassas Way | $254,900 | $145 | 9/28/2010 | 2010 | 1,755 | New |
| 2547 Bennitts Mill Way | $367,000 | $156 | 9/27/2010 | 2008 | 2,356 | New |
| 2533 Ulysses Rd | $272,400 | $156 | 9/17/2010 | 2010 | 1,748 | New |
| 2522 Manassas Way | $249,900 | $137 | 9/16/2010 | 2010 | 1,825 | New |
| 2533 Lagrange Trail | $299,900 | $145 | 8/30/2010 | 2010 | 2,074 | New |
| Xxx Carthage | $317,000 | $149 | 8/30/2010 | 2010 | 2,134 | New |
| 2571 Manassas Way | $264,900 | $128 | 8/6/2010 | 2008 | 2,070 | New |
| 2513 Ulysses Road | $282,000 | $120 | 7/26/2010 | 2008 | 2,345 | Existing |
| 2530 Carthage Ln | $340,000 | $140 | 7/22/2010 | 2010 | 2,432 | New |
| 2554 Lagrange Trail | $266,900 | $153 | 7/15/2010 | 2010 | 1,748 | New |
| 2517 Ulysses Rd | $273,600 | $157 | 6/28/2010 | 2010 | 1,748 | New |
| 2534 Lagrange Trail | $292,400 | $141 | 6/28/2010 | 2010 | 2,074 | New |
| 2548 Halleck Lane | $249,500 | $138 | 6/15/2010 | 2008 | 1,805 | Existing |
| 2692 Breton Ridge Drive | $550,000 | $161 | 6/1/2010 | 2006 | 3,410 | Existing |
| 2611 Ulysses Rd | $269,900 | $154 | 5/28/2010 | 2010 | 1,748 | New |
| 2583 Ulysses Road | $294,900 | $147 | 5/21/2010 | 2010 | 2,004 | New |
| 5628 Tecumseh | $260,000 | $132 | 5/10/2010 | 2006 | 1,963 | Existing |
| 2571 Halleck Lane | $264,500 | $151 | 5/10/2010 | 2010 | 1,748 | New |
| 2526 Lagrange Trail | $280,000 | $134 | 5/1/2010 | 2009 | 2,097 | Existing |
| 2652 Antietam Trail | $360,000 | $112 | 4/23/2010 | 2006 | 3,209 | Existing |
| 5790 Farnsworth Drive | $465,000 | $156 | 4/14/2010 | 2007 | 2,987 | Existing |
| 5849 Appomattox Court | $257,900 | $143 | 3/31/2010 | 2008 | 1,805 | Existing |
| 5613 Ringold Lane | $370,000 | $157 | 3/19/2010 | 2010 | 2,356 | New |
| 5646 Burnside Circle | $320,000 | $133 | 3/9/2010 | 2006 | 2,411 | Existing |
| 2578 Halleck Lane | $264,415 | $145 | 3/5/2010 | 2009 | 1,820 | Existing |
| 2586 Farragut Way | $242,000 | $142 | 3/5/2010 | 2009 | 1,707 | New |
| 2604 Antietam Trail | $369,900 | $159 | 2/26/2010 | 2005 | 2,325 | Existing |
| 2520 Carthage Lane | $295,000 | $146 | 2/17/2010 | 2009 | 2,020 | Existing |
| 5666 Burnside Circle | $280,000 | $122 | 2/4/2010 | 2006 | 2,292 | Existing |
| 2607 Manassas Way | $264,500 | $140 | 1/31/2010 | 2008 | 1,885 | New |
| 2582 Halleck Lane | $276,028 | $153 | 1/28/2010 | 2009 | 1,805 | Existing |
| 2546 Lagrange Trail | $305,000 | $157 | 1/28/2010 | 2009 | 1,939 | New |
| 2565 Ulysses Road | $254,000 | $134 | 1/15/2010 | 2008 | 1,898 | Existing |
| 2559 Carthage Lane | $272,000 | $165 | 12/21/2009 | 2009 | 1,650 | Existing |
| 2648 Opequon Bnd | $259,000 | $148 | 12/9/2009 | 2009 | 1,748 | Existing |
| 2586 Halleck Lane | $265,000 | $158 | 12/1/2009 | 2009 | 1,675 | New |
| 5633 Ringold Lane | $359,900 | $157 | 11/30/2009 | 2009 | 2,289 | New |
| 2600 Opequon Bnd | $255,000 | $146 | 11/24/2009 | 2009 | 1,748 | Existing |
| 2542 Lagrange Trail | $359,900 | $157 | 11/18/2009 | 2009 | 2,289 | New |
| 2637 Manassas Way | $282,900 | $137 | 10/16/2009 | 2009 | 2,065 | Existing |
| 2530 Lagrange Trail | $271,200 | $119 | 10/13/2009 | 2010 | 2,270 | Existing |
| 5698 Burnside Circle | $279,900 | $137 | 10/12/2009 | 2007 | 2,049 | New |
| Tbd Lagrange Trail | $240,600 | $128 | 10/5/2009 | 2010 | 1,887 | New |
| 2540 Carthage Ln | $339,000 | $148 | 9/15/2009 | 2008 | 2,284 | New |
| 2514 Manassas Way | $267,000 | $141 | 8/31/2009 | 2009 | 1,900 | Existing |
| 2540 Halleck Lane | $274,800 | $133 | 8/21/2009 | 2008 | 2,065 | Existing |
| 2572 Ulysses Rd | $375,000 | $144 | 8/14/2009 | 2009 | 2,603 | New |
| 2526 Bennitts Mill Way | $359,900 | $158 | 7/24/2009 | 2008 | 2,272 | New |
| 5635 Tecumseh Road | $256,000 | $123 | 7/15/2009 | 2006 | 2,088 | Existing |
| 2518 Manassas Way | $295,400 | $141 | 7/1/2009 | 2009 | 2,100 | Existing |
| 5856 Appomattox Court | $283,000 | $137 | 7/1/2009 | 2009 | 2,070 | New |
| 2538 Manassas Way | $264,878 | $147 | 6/30/2009 | 2009 | 1,805 | New |
| 2565 Manassas Way | $257,900 | $143 | 6/22/2009 | 2008 | 1,805 | Existing |
| 2546 Manassas Way | $259,000 | $142 | 6/4/2009 | 2009 | 1,820 | New |
| 5848 Appomattox Court | $289,800 | $140 | 6/1/2009 | 2009 | 2,065 | New |
| 2542 Manassas Way | $277,845 | $147 | 5/28/2009 | 2009 | 1,885 | New |
| 2541 Ulysses | $367,600 | $150 | 5/22/2009 | 2009 | 2,451 | New |
| 2558 Halleck Lane | $269,000 | $143 | 4/24/2009 | 2009 | 1,885 | New |
| 5690 Burnside Circle | $260,000 | $125 | 4/13/2009 | 2007 | 2,076 | Existing |
| 2550 Lagrange Trail | $355,000 | $156 | 3/27/2009 | 2008 | 2,272 | New |
| 5624 Burnside Circle | $326,000 | $154 | 3/3/2009 | 2007 | 2,121 | Existing |
| 2624 Ulysses Road | $250,000 | $142 | 2/19/2009 | 2007 | 1,761 | Existing |
| 2533 Bennitts Mill Way | $336,800 | $159 | 1/30/2009 | 2008 | 2,121 | New |
| 2554 Halleck Lane | $248,920 | $140 | 1/29/2009 | 2008 | 1,778 | New |
* Please come back for more Bull Run Home Sales Reports which will be posted every few months.
We just started working with a homebuyer who wants to buy a home in Tallahassee for less than $300,000, and our review of the options and opportunities for this buyer provided some great content for a real estate blog. So, if you’ve ever wondered where to go to buy a $300,000 home in Tallahassee, here’s your answer.
First of all, you could start by searching the Tallahassee MLS to see how many homes are listed in this price range. Currently, there are 180 homes for sale in Tallahassee between $250K and $300K, which represents about 1 year’s supply of inventory. This means that if nobody puts another home on the market in this price range for the next year, and nobody lowers their asking price to this price range in the next year, then we already have enough inventory to satisfy the current rate of demand for a $300,000 home in Tallahassee for another year. Simply put, that is way too much inventory and thus homebuyers have a great opportunity to find a super deal.
The next step in our process is to determine where recent purchases in the $250,000 to $300,000 home in Tallahassee have occurred. If you are going to buy a home in this price range, you want to make sure that you not only explore all opportunities, you also want to ensure that you safely invest your money by purchasing a home in a neighborhood that consistently supports your price point. You wouldn’t want to buy a $300,000 home in Tallahassee in a neighborhood where mostly $150,000 homes are selling.
Thus far in 2011, Bull Run and Southwood have the most home sales in the $250,000 to $300,000 price range, but Ox Bottom Manor and Killearn Estates have quite a few as well.
Now that we have a good understanding of where people have gone to buy a $300,000 home in Tallahassee, we next want to get a feel for value (what do they get for their money?).
If we look at the price per square foot of $300,000 homes in Tallahassee, one neighborhood stands out as the best bang for the buck. Betton Hill gives you the most house for the dollar, though the age of the homes are older than the other neighborhoods.
Regardless of the price range that you need to purchase, buying a home in Tallahassee should be a fun, exciting and rewarding process. Behind the scenes, we will ensure that you are kept safe in your real estate investment by ensuring that you have the full information about the real estate market for your price range. If you are thinking about buying a home, just drop me a note and we will schedule an initial interview to get you started on your way to owning a home in Tallahassee!
| Neighborhood | Address | SP | Price/ SQF | Closing Date | Year Built | SQF |
| Buckfield | 1930 Buckfield Drive | $288,000 | $117 | 11/4/2011 | 2003 | 2,452 |
| Kirkwood | 3417 Robinhood Rd | $275,000 | $96 | 10/28/2011 | 1970 | 2,855 |
| Piney Z | 751 Eagle View Drive | $263,000 | $102 | 10/27/2011 | 2004 | 2,575 |
| The Tennyson | 121 N Monroe Street #5008 | $250,000 | $194 | 10/25/2011 | 2006 | 1,289 |
| Summerbrooke | 1179 W Conservancy Drive | $285,000 | $107 | 10/21/2011 | 2001 | 2,671 |
| Lakeshore Estates | 3513 Lakeshore Drive | $250,000 | $93 | 10/7/2011 | 1972 | 2,691 |
| Waverly Hills | 2912 Brandemere Dr | $270,000 | $92 | 10/3/2011 | 1964 | 2,937 |
| The Tennyson | 121 N Monroe Street | $267,500 | $208 | 9/30/2011 | 2006 | 1,289 |
| Piney Z | 979 Watersview Drive | $275,000 | $107 | 9/30/2011 | 2004 | 2,581 |
| Bull Run | 5625 Ringold Lane | $289,320 | $144 | 9/30/2011 | 2011 | 2,005 |
| Easton Glen | 1817 Celtic Road | $255,000 | $112 | 9/28/2011 | 2000 | 2,280 |
| Bull Run | 2617 Manassas Way | $269,900 | $130 | 9/28/2011 | 2011 | 2,070 |
| Lisa Park | 3137 Lisa Court | $283,000 | $107 | 9/26/2011 | 1971 | 2,646 |
| Arvah Branch | 2456 Arvah Branch Boulevard | $265,000 | $102 | 9/26/2011 | 1994 | 2,588 |
| Lake Jamie | 4221 Rabbit Pond Road | $259,500 | $113 | 9/23/2011 | 1991 | 2,302 |
| High Oaks | 4920 Outlook Ct | $250,000 | $89 | 9/22/2011 | 1996 | 2,814 |
| Huntington Estates | 4004 Danesborough Place | $250,000 | $98 | 9/14/2011 | 1997 | 2,564 |
| Ox Bottom Manor | 6392 Belgrand Drive | $299,900 | $131 | 9/9/2011 | 1995 | 2,283 |
| Killearn Estates | 2951 Giverny Circle | $255,500 | $119 | 9/9/2011 | 1998 | 2,152 |
| Bull Run | 2541 Lagrange Trail | $296,000 | $128 | 9/9/2011 | 2008 | 2,318 |
| Betton Hills | 2613 Marston Rd | $284,500 | $103 | 8/31/2011 | 1970 | 2,767 |
| Iamonia Lodge Unrec | 12182 Waterfront Drive | $280,000 | $175 | 8/27/2011 | 2010 | 1,600 |
| Hickory Ridge | 2825 Pine Ridge Rd | $250,000 | $109 | 8/26/2011 | 1971 | 2,291 |
| Ox Bottom Manor | 511 Meadow Ridge Court | $280,000 | $127 | 8/26/2011 | 1997 | 2,205 |
| Walden Place | 7126 Atascadero Lane | $270,000 | $110 | 8/26/2011 | 2007 | 2,463 |
| Bull Run | 2586 Ulysses Rd | $274,297 | $152 | 8/26/2011 | 2011 | 1,809 |
| Ox Bottom Reserve | 2104 Dewberry Court | $275,000 | $104 | 8/25/2011 | 2004 | 2,634 |
| Ox Bottom Manor | 6030 Quail Ridge | $265,000 | $98 | 8/24/2011 | 1992 | 2,715 |
| Waverly Hills | 2916 Abbotsford Way | $295,000 | $119 | 8/22/2011 | 1970 | 2,488 |
| Ox Bottom Manor | 6266 Hines Hill Circle | $270,000 | $127 | 8/19/2011 | 1992 | 2,123 |
| Betton Hills | 1535 Hickory Avenue | $275,000 | $132 | 8/15/2011 | 1951 | 2,078 |
| Bull Run | 2539 Bennits Mill Way | $299,900 | $145 | 8/15/2011 | 2011 | 2,074 |
| Southwood | 3790 Piney Grove Drive | $275,000 | $103 | 8/12/2011 | 2006 | 2,664 |
| The Vineyards | 1867 Chardonnay Place | $275,000 | $113 | 8/12/2011 | 1988 | 2,444 |
| Killearn Estates | 2901 Whittington Drive | $270,000 | $104 | 8/10/2011 | 1998 | 2,600 |
| Waverly Hills | 2910 Coldstream Dr. | $260,000 | $102 | 8/10/2011 | 1976 | 2,551 |
| Summerbrooke | 7083 Spicewood Lane | $282,000 | $132 | 8/10/2011 | 2001 | 2,133 |
| Miccosukee Meadows | 4504 Argyle Lane | $271,000 | $115 | 8/8/2011 | 2010 | 2,357 |
| Summerbrooke | 8073 Preservation Rd | $285,000 | $120 | 7/29/2011 | 2002 | 2,374 |
| Oakfair Farms | 2518 Lakefair Drive | $290,000 | $112 | 7/29/2011 | 2000 | 2,592 |
