Home Sales In The Glen At Golden Eagle

Posted by Joe Manausa on Friday, May 22nd, 2009 at 11:02am.

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I was doing some research last week and ended up compiling some interesting information from both the Leon County Tax Appraisers site, as well as the Tallahassee Board of REALTORS® Multiple Listing Service (MLS). The Tallahassee neighborhood that I had researched was the Glen At Golden Eagle, and my findings were not that surprising, especially if you are a regular reader of the Tallahassee Real Estate Blog.

Home Prices Dropping In The Glen At Golden Eagle

The first thing that catches the eye when one looks at the real estate graph below is that homes in the Glen At Golden Eagle have depreciated 19% since the top of the market in 2006! While that certainly is not good news, one should also observe that homes have appreciated 34% since 2001.

glen-at-golden-eagle-home-sales-graph2

Homes For Sale In The Glen At Golden Eagle

The Tallahassee MLS holds information that allows us to conduct a supply and demand analysis of the homes for sale in the Glen At Golden Eagle. The Glen is doing slightly better than average with 12 months of supply of homes, but a key concern is that there have been nearly twice as many “failed to sell” homes in the past 12 months as there have been sales.

the-glen-at-golden-eagle-mls-home-supply-and-demand-graph3

When homes fail to sell, they either re-enter the market as new listings, or they become what we refer to as “shadow inventory.” This shadow inventory is the mass of homes that will be entering the market when market conditions become more favorable. So even as we see inventories decline, if the causation is “failures” rather than sales, we must be concerned that inventory levels are not truly dropping.

Historic Home Sales In The Glen At Golden Eagle

Parcel Address Price SqFt HC Sale Date
2368 HEATHROW DR $173,500 1,534 3/27/2009
2382 HEATHROW DR $173,500 1,502 3/27/2009
2136 HEATHROW DR $162,500 1,472 2/17/2009
9154 STONEHENGE TRL $157,800 1,314 2/2/2009
2312 HEATHROW DR $182,500 1,472 1/14/2009
2047 SUNNY DALE DR $213,900 1,720 1/9/2009
2424 HEATHROW DR $258,000 1,980 12/23/2008
9138 STONEHENGE TRL $156,000 1,239 12/10/2008
9426 WINDAM WAY $221,000 1,954 8/14/2008
1779 NEWMAN LN $175,000 1,771 7/31/2008
1771 NEWMAN LN $205,000 1,503 7/7/2008
9305 TUSCANY DR $199,900 1,541 6/27/2008
1775 NEWMAN LN $210,000 1,632 6/2/2008
9091 STONEHENGE TRL $189,900 1,301 5/16/2008
1805 NEWMAN LN $247,000 1,737 5/15/2008
9318 TUSCANY DR $279,500 1,701 5/9/2008
9305 TUSCANY DR $200,000 1,541 5/2/2008
1822 NEWMAN LN $193,800 1,501 3/27/2008
9150 STONEHENGE TRL $205,000 1,466 2/28/2008
1991 SUNNY DALE DR $236,000 1,925 1/16/2008
9402 WINDAM WAY $245,000 1,938 1/16/2008
2214 HEATHROW DR $225,000 2,022 1/15/2008
1794 NEWMAN LN $221,500 1,492 12/20/2007
2120 HEATHROW DR $174,000 1,261 12/13/2007
2041 ASCOT WAY $208,000 1,448 11/23/2007
9317 ROYAL TROON DR $230,000 1,786 10/22/2007
1851 NEWMAN LN $210,000 1,504 9/25/2007
2025 ASCOT WAY $224,000 1,658 8/24/2007
2424 HEATHROW DR $275,000 1,980 7/30/2007
2325 HEATHROW DR $231,200 1,590 7/27/2007
2029 ASCOT WAY $185,000 1,261 6/28/2007
1831 NEWMAN LN $210,000 1,486 3/23/2007
1991 SUNNY DALE DR $277,500 1,925 3/7/2007
2620 HEATHROW DR $215,000 1,412 3/5/2007
9406 WINDAM WAY $279,000 2,020 2/22/2007
1802 NEWMAN LN $196,000 1,322 1/23/2007
9121 STONEHENGE TRL $187,000 1,304 1/19/2007
2128 HEATHROW DR $217,000 1,467 1/10/2007
1767 NEWMAN LN $230,000 1,473 12/5/2006
2011 SUNNY DALE DR $242,500 1,456 10/27/2006
9330 TUSCANY DR $239,000 1,667 10/17/2006
9318 TUSCANY DR $289,000 1,699 9/26/2006
9329 TUSCANY DR $196,500 1,350 9/13/2006
1985 SUNNY DALE DR $250,000 1,709 8/28/2006
1854 NEWMAN LN $212,000 1,281 7/11/2006
1782 NEWMAN LN $222,000 1,492 6/30/2006
9332 ROYAL TROON DR $251,000 1,712 6/13/2006
2536 HEATHROW DR $239,000 1,472 6/9/2006
1866 NEWMAN LN $193,500 1,282 5/31/2006
2466 HEATHROW DR $248,000 1,504 5/31/2006
9316 ROYAL TROON DR $248,900 1,699 5/26/2006
9321 TUSCANY DR $238,000 1,694 5/17/2006
9134 STONEHENGE TRL $239,900 1,626 5/16/2006
9426 WINDAM WAY $280,000 1,954 4/25/2006
1995 SUNNY DALE DR $270,000 1,938 4/21/2006
1826 NEWMAN LN $210,900 1,350 4/20/2006
9321 ROYAL TROON DR $265,400 1,938 4/14/2006
9133 STONEHENGE TRL $200,000 1,289 4/11/2006
9336 ROYAL TROON DR $248,900 1,699 3/22/2006
9142 STONEHENGE TRL $225,000 1,433 3/17/2006
1805 NEWMAN LN $273,000   2/28/2006
9334 TUSCANY DR $275,000   2/28/2006
2494 HEATHROW DR $272,900 1,938 2/24/2006
9344 ROYAL TROON DR $246,900 1,708 1/31/2006
1985 SUNNY DALE DR $237,000 1,709 1/13/2006
9313 ROYAL TROON DR $235,000 1,669 1/10/2006
2283 HEATHROW DR $220,000 1,380 12/28/2005
2120 HEATHROW DR $197,900 1,261 12/19/2005
1759 NEWMAN LN $207,000 1,374 11/3/2005
1755 NEWMAN LN $209,900 1,363 10/31/2005
1774 NEWMAN LN $175,000 1,214 10/28/2005
9324 ROYAL TROON DR $234,900 1,708 10/21/2005
2256 HEATHROW DR $254,000 1,387 10/6/2005
9306 TUSCANY DR $208,000 1,472 9/23/2005
9345 TUSCANY DR $265,000 1,938 9/23/2005
2200 HEATHROW DR $239,900 1,688 9/13/2005
1806 NEWMAN LN $225,000 1,622 8/31/2005
9310 TUSCANY DR $256,000 1,938 8/30/2005
2354 HEATHROW DR $209,900 1,406 8/18/2005
1767 NEWMAN LN $219,000 1,473 7/28/2005
1766 NEWMAN LN $215,000 1,690 7/27/2005
2620 HEATHROW DR $199,800 1,412 7/21/2005
2029 ASCOT WAY $179,000 1,261 7/20/2005
9317 TUSCANY DR $252,000 1,977 7/20/2005
9095 STONEHENGE TRL $182,500 1,388 7/8/2005
2535 HEATHROW DR $210,000 1,472 6/30/2005
2550 HEATHROW DR $222,900 1,522 6/28/2005
9410 WINDAM WAY $233,000 1,950 6/15/2005
1798 NEWMAN LN $175,000 1,363 6/10/2005
2536 HEATHROW DR $196,200 1,472 6/9/2005
2140 HEATHROW DR $192,000 1,544 6/8/2005
2037 ASCOT WAY $208,000 1,630 5/27/2005
2396 HEATHROW DR $225,000 1,729 5/27/2005
1975 SUNNY DALE DR $224,000 1,801 5/13/2005
1814 NEWMAN LN $191,000 1,449 5/2/2005
1810 NEWMAN LN $199,900 1,502 4/26/2005
9162 STONEHENGE TRL $174,000 1,272 4/15/2005
1979 SUNNY DALE DR $216,800 1,638 4/15/2005
9401 WINDAM WAY $185,000 1,406 4/11/2005
9421 WINDAM WAY $189,900 1,558 3/31/2005
1813 NEWMAN LN $168,900 1,214 3/21/2005
9117 STONEHENGE TRL $189,900 1,535 3/18/2005
1991 SUNNY DALE DR $224,000 1,925 3/16/2005
2452 HEATHROW DR $190,100 1,350 2/28/2005
9298 TUSCANY DR $191,900 1,350 2/28/2005
1775 NEWMAN LN $200,000 1,632 2/18/2005
2033 ASCOT WAY $171,100 1,368 2/8/2005
2007 SUNNY DALE DR $184,700 1,502 1/31/2005
2466 HEATHROW DR $198,900 1,504 1/31/2005
1859 NEWMAN LN $175,000 1,506 1/28/2005
9332 ROYAL TROON DR $208,000 1,712 1/28/2005
1809 NEWMAN LN $149,700 1,232 1/25/2005
1862 NEWMAN LN $175,100 1,496 1/19/2005
9305 TUSCANY DR $198,900 1,541 1/19/2005
9320 ROYAL TROON DR $222,500 1,938 1/10/2005
9330 TUSCANY DR $209,800 1,667 1/8/2005

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Joe Manausa is a real estate investor and the Broker and Co-Owner of Joe Manausa Real Estate. He can be reached via e-mail through the Tallahassee Real Estate Website or catch his latest writings on the Tallahassee Florida Real Estate Blog , or by calling (850) 386-2001.
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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.

4 Responses to "Home Sales In The Glen At Golden Eagle"

Doug wrote: Joe,
Whats your prediction for Golden Eagle at year end for average square foot of houses sold? Will it go back to 2002 levels? These square footage prices for resales are very bad news for new home construction. Not sure how new construction can compete with solid resale subdivisions at these prices.

Doug

Posted on Friday, May 22nd, 2009 at 5:34pm.

Joe Manausa wrote: Hey Doug, this article was on the Glen At Golden Eagle. Is this what you meant for your question?

Posted on Saturday, May 23rd, 2009 at 1:10pm.

Doug wrote: yes.....

Posted on Tuesday, May 26th, 2009 at 10:32am.

Joe Manausa wrote: Hey Doug,

Clearly, the market is still heading lower. How much, who's to say. There are too many variables, but most important of all is what current homeowners choose to do. If more homes are sold in bulk, you will see much faster depreciation than if only the owner occupants sell their homes. I would recommend a very detailed market analysis should anybody decide to sell their home in the Glen At Golden Eagle (or anywhere in Tallahassee for that matter). My reports are overviews of the market, each home has to be specifically priced for its features and amenities.

Posted on Tuesday, May 26th, 2009 at 11:07pm.

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