Killearn Lakes 1 Home Sales Report

Posted by Joe Manausa on Monday, December 13th, 2010 at 11:33am.

Monthly home sales in Killearn Lakes 1 have fallen and home values in KLP1 have depreciated, on average, above 30% since the height of the market in March 2007.

There are no real surprises this quarter on the Killearn Lakes 1 home sales report. Home values in KLP1 have depreciated, on average, above 30% since the height of the market in March 2007. Checking on the current Tallahassee home inventory report, we know that pricing pressures will continue due to the glut of homes for sale.

Here is a classic real estate appreciation measurement in the real estate graph below. We see that homes were averaging about 5 sales per month at the peak of the market but have since dropped to just above 2 home sales per month. Values once trended above $140 per square foot have dropped to $101 per month for the past two months, but have trended down to $114 per square foot.

Killearn Lakes Unit 1 Home Sales Report Image

Home Values In Unit 1 Of Killearn Lakes Plantation

Another way to look at home values is to plot every arms length home sale in KLP1 and then compute a trend line with all of the data. The following graph shows every arms length existing home sale in Killearn Lakes Unit 1 from 1991 through October 2010, and the trend of real estate depreciation is quite obvious.

Killearn Lakes Unit 1 Home Values Report Image

Unit 1 Killearn Lakes Diversity

Due to the diverse nature of the homes and home sites in KLP1, these charts and graphs should be employed to give prospective home sellers (and buyers) a feel for the direction of the market in Killearn Lakes Plantation 1, rather than an absolute value of a specific home there.

Some of the homes are situated on larger lots, some on lakes, etc. One should not presume that the size of the home, multiplied by the average price per square foot from the real estate graph above, would result in an accurate opinion of value for a home for sale in Killearn Lakes Plantation.

Recent Arms Length Killearn Lakes 1 Home Sales

KLP1 Address Price Size PPSFT Age Sale Date
7420 LAUREL RIDGE LN $145,000 1,440 $101 1984 10/4/2010
3441 HAWKS HILL TRL $160,000 1,718 $93 1987 9/30/2010
7716 BASS RIDGE TRL $169,900 1,560 $109 1976 9/10/2010
3205 FAWN HILL TRL $167,000 1,542 $108 1987 8/6/2010
3412 CEDARWOOD TRL $227,000 1,748 $130 2010 7/16/2010
3341 WILDWOOD TRL $166,000 1,430 $116 1984 7/7/2010
7712 BASS RIDGE TRL $130,000 1,543 $84 1981 6/30/2010
7124 SUMMIT RIDGE DR $200,000 1,904 $105 2004 6/16/2010
7789 BRIARCREEK RD N $178,000 1,378 $129 2010 6/11/2010
7100 SUMMIT RIDGE DR $250,000 2,242 $112 2008 5/28/2010
3317 CHEROKEE RIDGE TRL $164,000 1,406 $117 2001 5/25/2010
3496 CEDARWOOD TRL $148,000 1,182 $125 1986 5/21/2010
7120 BEECH RIDGE TRL $325,000 2,506 $130 2005 5/3/2010
3604 DEER HILL TRL $190,000 1,856 $102 1985 4/30/2010
7000 QUAIL COMMON DR $165,000 1,250 $132 2009 4/30/2010
7784 BRIARCREEK RD N $86,000 1,490 $58 1985 4/27/2010
3345 WILDWOOD TRL $164,000 1,360 $121 2003 4/23/2010
7425 LAUREL RIDGE LN $200,000 1,693 $118 2007 4/2/2010
7803 THORNHILL LN $225,000 2,213 $102 1974 3/31/2010
7147 BEECH RIDGE TRL $370,000 3,140 $118 2006 3/12/2010
7005 FOXGLOVE LN $195,000 1,510 $129 1973 2/5/2010
7832 BRIARCREEK RD W $182,500 1,406 $130 2002 1/29/2010
7404 CANDLEWOOD LN $174,000 1,420 $123 1986 1/15/2010
3480 ROSEMONT RIDGE RD $204,000 1,506 $135 2008 12/23/2009
3432 CEDARWOOD TRL $165,000 1,455 $113 1995 12/11/2009
3453 CEDARWOOD TRL $180,000 1,400 $129 1987 12/4/2009
3349 BARROW HILL TRL $203,000 1,750 $116 1981 11/30/2009
7400 CANDLEWOOD LN $183,500 1,927 $95 1986 11/24/2009
3524 OAK HILL TRL $166,000 1,656 $100 1984 11/4/2009
7915 BRIARCREEK RD S $188,500 1,780 $106 1985 10/30/2009
3303 MICANOPY TRL $179,500 1,407 $128 2003 10/30/2009
7956 BRIARCREEK RD S $160,000 1,344 $119 1983 9/30/2009
3524 ROSEMONT RIDGE RD $236,500 1,660 $142 2007 9/30/2009
3516 OAK HILL TRL $207,000 1,656 $125 1986 8/31/2009
3324 CHEROKEE RIDGE TRL $155,000 1,388 $112 2002 8/28/2009
3551 DOGWOOD VALLEY TRL $183,000 1,531 $120 1986 8/18/2009
3553 ROSEMONT RIDGE RD $201,000 1,588 $127 2004 8/7/2009
7845 BRIARCREEK RD W $171,000 1,603 $107 1985 8/3/2009
3428 ROSEMONT RIDGE RD $200,000 1,734 $115 1987 8/3/2009
3309 BARROW HILL TRL $95,000 1,745 $54 1976 7/21/2009
3516 OAK HILL TRL $207,000 1,656 $125 1986 6/10/2009
3427 CEDARWOOD TRL $220,000 1,587 $139 2003 5/15/2009
3352 MICANOPY TRL $167,800 1,409 $119 1987 4/29/2009
3305 MICANOPY TRL $175,000 1,662 $105 1985 4/15/2009
3619 DEER HILL TRL $190,000 1,676 $113 1977 4/8/2009
3313 BARROW HILL TRL $175,000 1,384 $126 1976 4/8/2009
7939 BRIARCREEK RD S $186,500 1,440 $130 1984 4/3/2009
3523 CHEROKEE RIDGE TRL $193,000 1,476 $131 2002 3/27/2009
3488 VALLEY CREEK DR $265,000 2,081 $127 1983 3/19/2009
3423 ROSEMONT RIDGE RD $129,900 1,196 $109 1984 3/4/2009
3317 BARROW HILL TRL $210,000 2,168 $97 1977 1/16/2009
3418 TREATY OAK TRL $194,900 1,624 $120 2005 12/12/2008
3447 BRIAR BRANCH TRL $194,900 1,539 $127 1974 11/14/2008
3528 OAK HILL TRL $249,100 1,753 $142 2007 11/5/2008
7944 BRIARCREEK RD S $190,000 1,591 $119 1987 9/30/2008
3212 FAWN HILL TRL $175,000 1,330 $132 1985 9/12/2008
3409 TREATY OAK TRL $198,800 1,584 $126 1985 7/31/2008
3325 WILDWOOD TRL $160,100 1,204 $133 1986 7/30/2008
7873 BRIARCREEK RD W $175,000 1,600 $109 2005 7/28/2008
3380 MICANOPY TRL $192,500 1,646 $117 2003 7/18/2008
3329 CHEROKEE RIDGE TRL $203,000 1,490 $136 2004 7/17/2008
3309 BARROW HILL TRL $243,000 1,768 $137 1976 6/16/2008
7741 BRIARCREEK RD N $199,900 1,408 $142 1984 5/23/2008
3376 BARROW HILL TRL $191,900 1,596 $120 2000 5/19/2008
7781 BRIARCREEK RD N $225,000 1,600 $141 2005 5/16/2008
7880 BRIARCREEK RD W $275,000 2,216 $124 2004 4/14/2008
7884 BRIARCREEK RD W $162,000 1,228 $132 1985 3/27/2008
3576 ROSEMONT RIDGE RD $215,000 1,614 $133   3/14/2008
7741 BRIARCREEK RD N $152,500 1,408 $108 1984 1/28/2008
7001 FOXGLOVE LN $195,000 1,546 $126 1977 1/25/2008
3309 BARROW HILL TRL $220,000 1,768 $124 1976 1/17/2008
3309 BARROW HILL TRL $236,500 1,768 $134 1976 1/17/2008
3432 HAWKS HILL TRL $190,000 1,358 $140 1984 1/3/2008
3525 CHEROKEE RIDGE TRL $221,500 1,487 $149 2005 12/27/2007
3401 ROSEMONT RIDGE RD $170,000 1,200 $142 1985 12/12/2007
3444 CEDARWOOD TRL $205,000 1,406 $146 2003 11/1/2007
3436 HAWKS HILL TRL $161,000 1,312 $123 1984 10/1/2007
7788 BRIARCREEK RD N $255,000 1,776 $144 1984 9/26/2007
3489 CEDARWOOD TRL $258,000 1,794 $144 2007 9/11/2007
7797 BRIARCREEK RD N $209,000 1,316 $159 1986 9/5/2007
7420 LAUREL RIDGE LN $195,000 1,440 $135 1984 8/10/2007
8037 BRIARCREEK RD E $246,000 2,044 $120 1987 7/31/2007
3388 MICANOPY TRL $235,000 1,600 $147 2005 7/31/2007
3416 BRIAR BRANCH TRL $150,000 1,804 $83 1977 7/30/2007
3309 BARROW HILL TRL $138,200 1,768 $78 1976 7/19/2007
3572 ROSEMONT RIDGE RD $202,500 1,409 $144 1995 7/19/2007
3432 ROSEMONT RIDGE RD $231,800 1,463 $158 1986 7/17/2007
3525 LARKSPUR LN $169,300 1,406 $120 1985 7/6/2007
3329 WILDWOOD TRL $102,000 1,592 $64 2007 7/3/2007
8021 BRIARCREEK RD S $228,000 1,600 $143 2005 6/15/2007
3501 TURKEY RUN LN $240,000 1,777 $135 1973 5/24/2007
3533 OAK HILL TRL $279,000 2,188 $128 1984 5/4/2007
3436 EDGEMONT TRL $230,000 1,586 $145 1984 4/3/2007
3504 ROSEMONT RIDGE RD $252,000 1,389 $181 1986 3/16/2007
3559 DOGWOOD VALLEY TRL $179,000 1,240 $144 1982 3/15/2007
3205 WIND LAKE LN $195,000 1,380 $141 1985 2/23/2007
3453 CEDARWOOD TRL $204,000 1,400 $146 1987 2/23/2007
3443 TREATY OAK TRL $235,000 1,600 $147 2005 2/23/2007
3430 TREATY OAK TRL $205,000 1,352 $152 2002 2/22/2007
7858 BRIARCREEK RD W $173,000 1,220 $142   2/21/2007
7866 BRIARCREEK RD W $230,000 1,687 $136 1985 2/16/2007
3329 CHEROKEE RIDGE TRL $214,900 1,490 $144 2004 2/9/2007
3336 MICANOPY TRL $184,000 1,264 $146 1985 1/26/2007
8057 BRIARCREEK RD E $235,000 1,690 $139 2002 1/3/2007

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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