Buckhead Home Sales Report

Posted by Joe Manausa on Thursday, November 25th, 2010 at 3:12pm.

Buckhead home sales have seen the ups and downs of the Tallahassee real estate market, with values down 26% since the peak.

Buckhead home sales have weathered the market a little better than most neighborhoods in Tallahassee. With values down 26.4% since the peak of the market, valuations have dropped similarly to the rest of the Tallahassee housing market. But unit sales today are very much consistent with the average number of sales for the past 15 years, with only marginally fewer sales.

Considering the rest of the market has seen unit sales drop significantly higher, I would say that Buckhead home sales have proven this high-end Tallahassee neighborhood to be a "better than the market" place to own a home for the past 10 years.

Buckhead Home Sales Graph

The real estate graph above shows that the average Buckhead home sales price has dropped from $579K in 2007 to $355K in 2010, which is nearly a 39% drop. But we don't use "average price" to determine real estate depreciation, but we can estimate it by using the change in average price per square foot.

Buckhead Home Sales Drop 26%

We can use a graph of the average price per square foot for Buckhead home sales to get a better feel for the depreciation that has occurred. The green area shows the rapid rise and subsequent fall of home values in this Northeast Tallahassee subdivision.

Buckhead Home Sales Report Graph

Building A Home In Buckhead

We often get requests for help from people who are considering having a home built for them. With interest rates at all-time lows and most builders very hungry for work, it is an optimal time to consider building. My only warning point would be to study the market and ensure there is not a an existing home for sale in Buckhead that would satisfy your needs. Most likely, existing homes will sell cheaper than newly built ones.

But if you want to build your own dream home in Tallahassee, there are a few short sale lots available that will save you money compared to the homes that were built after 2006. If you can negotiate a great value with on one of these, you most likely will be well situated when the market returns.

Short Sales In Buckhead

The following two short sale lots are situated in prime Buckhead locations, and are offered at more than a $50K discount to what they would have sold at the peak of the market.

  1. 2852 Hannon Hill Drive
  2. Lot 14 G Hedgewood Drive

In essence, this gives the next buyer a near $20 per square foot advantage when building compared to have doing so in 2006. When you factor this discount in with the super competitive nature of the new construction market, a wise buyer can build a home that will be well suited for resale in the coming years.

Recent Home Sales In Buckhead

Buckhead AddressSales PriceSize (Sqft)Value (PPSFT)AgeSale Date
2852 HANNON HILL DR $340,000 2,704 $126 2006 10/25/2010
4609 SPARROWHAWK CT $294,000 2,625 $112 2006 10/20/2010
2659 S HANNON HILL DR $332,700 2,499 $133 2002 8/2/2010
4604 SPARROWHAWK CT $385,000 2,811 $137 2009 4/29/2010
4518 HEDGEWOOD DR $368,000 2,425 $152 1998 3/26/2010
4519 HEDGEWOOD DR $409,000 2,509 $163 1999 3/26/2010
2749 W HANNON HILL DR $385,000 2,537 $152 2005 7/31/2009
4617 WHITETAIL PASS $535,000 3,356 $159 2005 7/30/2009
4618 OAKSHIRE CT $610,000 4,171 $146 2007 7/10/2009
4502 THAXTON CT $350,000 2,876 $122 2003 4/10/2009
4779 BUCKHEAD CT $295,000 2,515 $117 1995 12/23/2008
4739 BUCKHEAD CT $500,000 3,393 $147 2002 11/13/2008
4619 OAKSHIRE CT $460,000 2,737 $168 2006 7/21/2008
4615 SPARROWHAWK CT $300,000 2,628 $114 2008 7/15/2008
2630 S HANNON HILL DR $410,000 2,567 $160 1999 6/16/2008
4611 OAKSHIRE CT $225,200 2,931 $77 2006 6/16/2008
4508 RANGEWOOD DR $510,000 2,930 $174 2000 5/16/2008
4533 TIMBERLOCH DR $495,000 3,119 $159 2006 3/13/2008
2839 HANNON HILL DR $510,000 3,024 $169 2007 1/31/2008
2830 W HANNON HILL DR $498,000 2,800 $178 2006 12/14/2007
4503 THAXTON CT $509,900 3,282 $155 1994 11/21/2007
4543 HEDGEWOOD DR $459,500 2,856 $161 2003 11/9/2007
4600 FOREST RIDGE DR $599,000 2,969 $202 2006 8/24/2007
4611 OAKSHIRE CT $525,000 2,931 $179 2006 7/13/2007
4630 FOREST RIDGE DR $599,000 3,153 $190 2007 7/5/2007
4519 TIMBERLOCH DR $490,000 2,732 $179 1999 6/29/2007
2802 HANNON HILL DR $727,000 3,611 $201 2007 4/30/2007
4618 FOREST RIDGE DR $599,000 3,721 $161 2006 4/12/2007
2826 W HANNON HILL DR $675,000 3,787 $178 2005 4/6/2007
4617 FOREST RIDGE DR $585,000 3,024 $193 2007 3/15/2007
4621 SPARROWHAWK CT $616,000 2,850 $216 2006 2/28/2007
2844 W HANNON HILL DR $644,000 2,808 $229 2006 1/17/2007
4606 OAKSHIRE CT $545,000 2,919 $187 2006 12/13/2006
2760 W HANNON HILL DR $425,700 2,370 $180 1996 11/27/2006
2652 S HANNON HILL DR $465,000 2,802 $166 2001 10/27/2006
4559 HEDGEWOOD DR $397,000 2,583 $154 2000 9/29/2006
4607 OAKSHIRE CT $530,000 3,001 $177 2006 7/31/2006
4519 TIMBERLOCH DR $465,000 2,732 $170 1999 7/17/2006
4519 HEDGEWOOD DR $410,000 2,509 $163 1999 7/14/2006
2619 S HANNON HILL DR $585,000 3,505 $167 2002 6/30/2006
4527 TIMBERLOCH DR $530,000 3,536 $150 1999 6/7/2006
4571 HEDGEWOOD DR $624,000 3,313 $188 2006 5/26/2006
2834 W HANNON HILL DR $559,000 2,784 $201 2006 5/23/2006
4609 SPARROWHAWK CT $474,000 2,625 $181 2006 5/9/2006
4608 WHITETAIL PASS $480,000 2,646 $181 2005 2/28/2006
2891 N HANNON HILL DR $443,000 2,896 $153 1996 2/23/2006
4622 OAKSHIRE CT $578,800 3,948 $147 2006 2/9/2006
4620 WHITETAIL PASS $470,200 2,562 $184 2006 1/31/2006
4545 TIMBERLOCH DR $522,000 3,207 $163 2005 12/20/2005
4605 WHITETAIL PASS $497,900 2,853 $175 2005 12/20/2005
4627 SPARROWHAWK CT $495,000 2,962 $167 2005 11/8/2005
2741 W HANNON HILL DR $400,000 2,718 $147 1994 9/16/2005
4614 WHITETAIL PASS $491,200 2,834 $173 2005 7/11/2005
4550 TIMBERLOCH DR $146,000 2,856 $51 2007 6/29/2005
2643 S HANNON HILL DR $392,500 2,615 $150 2001 5/31/2005
2630 S HANNON HILL DR $380,000 2,567 $148 1999 5/11/2005
4503 THAXTON CT $399,900 3,282 $122 1994 8/30/2004
2611 S HANNON HILL DR $395,000 3,027 $130 2001 8/6/2004
4503 THAXTON CT $116,500 3,282 $35 1994 7/30/2004
2667 S HANNON HILL DR $364,000 2,674 $136 1998 7/23/2004
2888 N HANNON HILL DR $379,900 2,853 $133 1994 6/25/2004
4771 BUCKHEAD CT $250,000 3,163 $79 1999 2/12/2004
4518 HEDGEWOOD DR $315,500 2,425 $130 1998 9/25/2003
2728 W HANNON HILL DR $324,200 2,525 $128 1999 8/29/2003
4502 THAXTON CT $357,500 2,876 $124 2003 7/23/2003
2760 W HANNON HILL DR $305,000 2,370 $129 1996 7/18/2003
4512 HEDGEWOOD DR $325,000 2,789 $117 2001 7/13/2003
4770 BUCKHEAD CT $625,000 4,898 $128 2001 7/12/2003
2610 S HANNON HILL DR $325,400 2,925 $111 2001 4/30/2003
4527 TIMBERLOCH DR $362,500 3,182 $114 1999 4/25/2003
2682 S HANNON HILL DR $344,900 2,824 $122 1996 4/23/2003
4503 RANGEWOOD DR $426,500 3,280 $130 2002 3/28/2003
2651 S HANNON HILL DR $316,000 2,740 $115 2001 2/14/2003
2619 S HANNON HILL DR $364,300 3,505 $104 2002 1/10/2003
4500 THAXTON CT $395,000 2,948 $134 2001 12/5/2002
4739 BUCKHEAD CT $352,700 3,393 $104 2002 7/30/2002
4559 HEDGEWOOD DR $288,500 2,583 $112 2000 6/28/2002
2887 N HANNON HILL DR $284,500 2,767 $103 1995 5/31/2002
4507 RANGEWOOD DR $283,000 2,903 $97 1999 5/30/2002
2773 W HANNON HILL DR $365,000 2,807 $130 1995 5/10/2002
4522 TIMBERLOCH DR $310,000 3,525 $88 2002 4/25/2002
2611 S HANNON HILL DR $298,800 3,027 $99 2001 1/10/2002
4779 BUCKHEAD CT $251,000 2,515 $100 1995 1/7/2002
2652 S HANNON HILL DR $290,700 2,802 $104 2001 10/31/2001
4503 THAXTON CT $300,000 3,282 $91 1994 9/12/2001
2610 S HANNON HILL DR $309,900 2,925 $106 2001 9/7/2001
2699 S HANNON HILL DR $265,000 2,584 $103 1996 8/31/2001
4512 HEDGEWOOD DR $295,000 2,789 $106 2001 7/16/2001
2891 N HANNON HILL DR $298,000 2,896 $103 1996 7/10/2001
4518 HEDGEWOOD DR $280,000 2,425 $115 1998 6/26/2001
2643 S HANNON HILL DR $262,500 2,615 $100 2001 4/18/2001
2638 S HANNON HILL DR $325,000 3,470 $94 2001 1/25/2001
4508 RANGEWOOD DR $291,500 2,930 $99 2000 12/15/2000
4523 TIMBERLOCH DR $275,000 3,570 $77 2000 12/4/2000
2607 S HANNON HILL DR $265,000 2,885 $92 2000 8/24/2000
2736 W HANNON HILL DR $258,000 2,666 $97 1996 8/2/2000
2600 S HANNON HILL DR $314,200 3,322 $95 2000 6/27/2000
4518 HEDGEWOOD DR $267,000 2,425 $110 1998 6/5/2000
2891 N HANNON HILL DR $210,500 2,896 $73 1996 5/25/2000
2894 N HANNON HILL DR $147,700 3,487 $42 1994 4/25/2000
4542 HEDGEWOOD DR $284,200 2,847 $100 1999 12/30/1999
2618 S HANNON HILL DR $255,000 2,405 $106 1999 8/31/1999
2630 S HANNON HILL DR $255,000 2,567 $99 1999 7/27/1999
4527 HEDGEWOOD DR $264,000 2,482 $106 1998 7/9/1999
4519 HEDGEWOOD DR $259,900 2,509 $104 1999 6/25/1999
4500 HEDGEWOOD DR $192,000 2,358 $81 1998 3/31/1999
4536 HEDGEWOOD DR $230,000 2,457 $94 1998 11/20/1998
2606 HANNON HILL DRIVE SOUTH $234,900 2,642 $89 1998 10/19/1998
4518 HEDGEWOOD DR $246,500 2,425 $102 1998 7/20/1998
4527 HEDGEWOOD DR $244,000 2,482 $98 1998 7/2/1998
2894 N HANNON HILL DR $320,000 3,487 $92 1994 5/26/1998
2879 N HANNON HILL DR $212,000 2,285 $93   12/1/1997
2765 W HANNON HILL DR $265,000 2,763 $96   11/18/1997
2741 W HANNON HILL DR $233,000 2,718 $86 1994 7/31/1997
2736 W HANNON HILL DR $259,000 2,666 $97 1996 6/25/1997
2690 S HANNON HILL DR $217,900 2,417 $90   5/30/1997
2760 W HANNON HILL DR $239,000 2,370 $101 1996 12/10/1996
2699 S HANNON HILL DR $270,000 2,584 $104 1996 11/26/1996
2698 S HANNON HILL DR $225,000 2,356 $96 1994 10/29/1996
2682 S HANNON HILL DR $210,000 2,824 $74 1996 9/25/1996
2894 N HANNON HILL DR $320,000 3,487 $92 1996 8/19/1996
2752 W HANNON HILL DR $245,000 2,496 $98   7/23/1996
2887 N HANNON HILL DR $241,500 2,767 $87 1995 6/28/1996
4779 BUCKHEAD CT $250,000 2,515 $99 1995 4/30/1996
2765 W HANNON HILL DR $265,000 2,763 $96   3/28/1996
2757 W HANNON HILL DR $240,000 2,619 $92   9/14/1995
2752 W HANNON HILL DR $231,900 2,496 $93   7/15/1995
2880 N HANNON HILL DR $272,500 2,805 $97   6/30/1995
2773 W HANNON HILL DR $269,800 2,807 $96 1995 6/23/1995
2797 W HANNON HILL DR $263,000 3,693 $71   3/23/1995
2888 N HANNON HILL DR $239,900 2,853 $84 1994 12/27/1994
2698 S HANNON HILL DR $181,000 2,356 $77 1994 10/24/1994
2752 HANNON HILL DR W $224,000 2,496 $90 1994 5/25/1994
2741 W HANNON HILL DR $227,000 2,714 $84 1994 5/2/1994

 

Joe Manausa, MBA is a 26 year veteran of real estate brokerage in Tallahassee, Florida and has owned and managed his own company since 1992. He is a daily blogger with content that focuses on real estate analytics and providing his clients with a tactical advantage in today's challenging market.

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