High Turnover Rate Subdivisions In Tallahassee

Posted by Joe Manausa on Monday, December 27th, 2010 at 10:07am.

In preparing for our Weekly Special Housing Report which is emailed to subscribers every Monday morning, I poured through a lot of data on Tallahassee Subdivisions in order to find out which ones had the highest turnover rate. To measure the turnover rate, I divided the number of existing home sales by the total number of homes in each subdivision.

In the real estate graph below, two important statistics are measured for each Tallahassee Subdivision. On the left axis, the turnover rate is shown, while the growth rates is recorded on the right axis. The growth rate is the number of new homes sold this year, divided by the total number of homes in the subdivision as of the end of last year.

Tallahassee+Subdivision+Turnover+Rate

Considering that there are over 1,300 recognized subdivisions in Tallahassee, I find it surprising that only 12 had turnover rates exceeding 4% (1 in 25 homeowners moved from these neighborhoods). Additionally, this graph provides a powerful picture for "red alert" neighborhoods ... those that added to their supply of homes this year. Most likely, the established neighborhoods that are adding to inventory right now will most likely take the longest to recover to a healthy balanced of supply and demand.

New and Existing Home Sales By Subdivision

Tallahassee Subdivision New Resales Total Sales
SOUTHWOOD 59 59 118
KILLEARN ESTATES 0 88 88
BARRINGTON PARK CONDO 64 5 69
KILLEARN LAKES 5 58 63
KILLEARN ACRES 1 40 41
BULL RUN 28 11 39
SUMMERBROOKE 0 36 36
PINEY-Z 1 29 30
GOLDEN EAGLE PLANTATION 1 25 26
WOODBRIAR 0 26 26
BETTON HILL 0 26 26
WEEMS PLANTATION 0 21 21
RIVER'S LANDING 17 1 18
MEADOWS AT WOODRUN 0 18 18
OX BOTTOM MANOR 0 17 17
HUNTINGTON WOODS 1 15 16
EASTGATE 0 15 15
INDIAN HEAD ACRES 0 15 15
CAMELOT PARK 0 14 14
GLEN AT GOLDEN EAGLE 5 8 13
BLAIRSTONE FOREST 1 12 13
PLANTATION WOODS 0 13 13
PEBBLE BROOKE 11 1 12
HAMPTON CREEK 5 7 12
VILLAGES AT WILSON GREEN 1 11 12
WOLF CREEK 2 9 11
SHANNON FOREST 0 11 11
SAGEBROOK MILL 10 0 10
VILLAS AT PINE FOREST 9 1 10
FOREST HEIGHTS 0 10 10
RES AT WHISPERING PINES C 0 10 10
TIMBER LAKE REPLAT 0 10 10
VILLAGES OF MACLAY T/H 0 10 10
JACKSON'S GAP 9 0 9
SABLE CHASE 6 3 9
ARBOR HILL 0 9 9
ASTORIA PARK 0 9 9
AUTUMN WOODS 0 9 9
AVONDALE 0 9 9
FAIRVIEW 0 9 9
FOXCROFT 0 9 9
SAVANNAH CROSSING CONDOMINIUM 0 9 9
OBSERVATION POINTE 7 1 8
LAKE JACKSON HEIGHTS 2 6 8
BRANDT HILLS 0 8 8
CHARLESTON SQUARE TOWNHOMES 0 8 8
CHATEAU LAFAYETTE TOWNHOMES 0 8 8
HOLLY HILLS 0 8 8
KILLEARN COMMONS 0 8 8
PARKHILL 0 8 8
PARKSIDE 0 8 8
THE TIMBERS TOWNHOMES 0 8 8
TOWN 'N COUNTRY PARK 0 8 8
DRY CREEK RUN 3 4 7
CAPITAL CITY ESTATES 0 7 7
CAROLINE COURTS 0 7 7
COPPER CREEK 0 7 7
FOREST GREEN 0 7 7
KILLEARN ESTATES UNIT 28 0 7 7
LAKEWOOD VILLAGE 0 7 7
SETTLERS CREEK 0 7 7
THE MEADOWS 0 7 7
PAEONIA PLACE 6 0 6
LANDINGS OF GOLDEN EAGLE 2 4 6
13-01N-01W 1 5 6
30-01N-01E 1 5 6
BOND SOUTH 1 5 6
THE TENNYSON CONDOMINIUM 1 5 6
12-01N-01W 0 6 6
BLOXHAM HEIGHTS 0 6 6
BRIGHTON PLACE CONDO 0 6 6
BUCKHEAD 0 6 6
CHEMONIE CROSSING 0 6 6
EAGLES RIDGE 0 6 6
ELBERTA EMPIRE 0 6 6
GOOSE CREEK 0 6 6
LAKESIDE 0 6 6
LEHIGH 0 6 6
LINWOOD MANOR 0 6 6
RACQUET CLUB 0 6 6
SAWGRASS PLANTATION TOWNHOMES 0 6 6
SEMINOLE MANOR 0 6 6
STONEY CREEK CROSSING 0 6 6
SUMMERCHASE CONDOMINIUMS 0 6 6
TERRENCE HEIGHTS 0 6 6
WOODLAND DRIVE 0 6 6
HARTSFIELD PLACE 5 0 5
APALACHEE EAST 3 2 5
PARK CHARLESTON 2 3 5
ADAMS PLACE CONDOMINIUMS 0 5 5
AZALEA PARK 0 5 5
BAKER PLACE 0 5 5
BENT TREE ESTATES 0 5 5
CAMERON CHASE 0 5 5
CRAWFORDVILLE TRACE 0 5 5
EASTON 0 5 5
GLEN HAWK 0 5 5
GOLDEN PARK 0 5 5
HIDDEN VALLEY 0 5 5
HIGHLANDS AT NORTHAMPTON 0 5 5
HOMESTEAD RIDGE 0 5 5
KINSAIL AKA VILLAGES OF KILLEARN 0 5 5
LAFAYETTE OAKS 0 5 5
LAKESHORE ESTATES 0 5 5
LENOX MILL 0 5 5
MEADOWBROOK 0 5 5
MELROSE PARK 0 5 5
PARK TERRACE 0 5 5
RENEGADE CONDOMINIUM 0 5 5
ROYAL OAKS 0 5 5
SAN LUIS RIDGE 0 5 5
SCENIC HEIGHTS 0 5 5
SETTLERS SPRINGS 0 5 5
TOWNSHIP ONE NORTH 0 5 5
WESTOVER TOWNHOMES 0 5 5
WOODGATE 0 5 5
WOODSIDE HEIGHTS 0 5 5
TALLAHASSEE HIGHLANDS 2 2 4
TALLAHASSEE CENTER CONDO 1 3 4
02-01N-01W 0 4 4
11-01N-01W 0 4 4
APALACHEE HILLS 0 4 4
BRECKENRIDGE ON PARK 0 4 4
CAMPBELL PARK 0 4 4
CAPITAL HILLS 0 4 4
CENTERVILLE TRACE 0 4 4
CHASE'S RIDGE 0 4 4
CHASE'S RUN 0 4 4
CHESAPEAKE PLACE TOWNHOMES 0 4 4
DEER POINTE 0 4 4
EASTON GLEN 0 4 4
EDINBURGH ESTATES 0 4 4
EMERALD ACRES 0 4 4
FOREST PARK 0 4 4
GARDENIA GARDENS 0 4 4
GLENDALE 0 4 4
GREYS RUN 0 4 4
HARBINWOOD ESTATES 0 4 4
HARTSFIELD VILLAGE 0 4 4
HEARTWOOD HILLS 0 4 4
INDIAN VILLAGE 0 4 4
KERR SURVEY 0 4 4
LAFAYETTE CONDO/TOWNHOMES 0 4 4
LAKESHORE GARDENS 0 4 4
LAKEWOOD 0 4 4
LAUREL TRACE 0 4 4
MAJESTIC OAKS CONDOMINIUMS 0 4 4
MELODY HILLS 0 4 4
NORTHAMPTON 0 4 4
NORTHWEST ADD TO TALLAHASSEE 0 4 4
OAK RIDGE PLACE 0 4 4
OAK VALLEY 0 4 4
OLIVER HEIGHTS 0 4 4
SUNNY VILLAGE 0 4 4
THE LAKES 0 4 4
TOWER OAKS 0 4 4
TOWERS 0 4 4
TWIN LAKES COMMUNITY 0 4 4
VIEUX CARRE (STERLING HOUSE) 0 4 4
VILLAS OF WESTRIDGE 0 4 4
WAVERLY HILLS 0 4 4
WESTBURY 0 4 4
WESTWOOD CONDOMINIUM 0 4 4

 

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.

3 Responses to "High Turnover Rate Subdivisions In Tallahassee"

gene ward wrote: Why wasn't Highgrove included in this survey?

Posted on Monday, December 27th, 2010 at 6:33pm.

Joe Manausa, MBA wrote: Hey Gene, I measured all of the 2010 sales, including Highgrove. This graph shows the top 21 neighborhoods, and the table shows all neighborhoods that have had 4 or more "arms length" home sales this year. Highgrove was further down the list, with only 2 sales this year (both resales).

Posted on Monday, December 27th, 2010 at 6:52pm.

Reader wrote: I'm not sure if you should call the result of number of new homes sold / total number of homes as of last year as "growth rate"?
Should growth rate be new homes "built" (instead of "sold") / total homes as of last year?

Most new homes built in 2010 may have been sold in 2010, but the opposite may not be true. Many new homes sold in 2010 are not built this year but earlier.

Posted on Tuesday, December 28th, 2010 at 4:18am.

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