Killearn Lakes 2 Home Sales Report

Posted by Joe Manausa on Wednesday, December 8th, 2010 at 11:56am.

Monthly home sales in Killearn Lakes 2 have fallen to levels similar to 1993, and the impact of the Homebuyer Tax Credit appears to be mostly negated at this point.

Monthly home sales in Killearn Lakes (Unit 2) have fallen to levels similar to 1993, and the impact of the Homebuyer Tax Credit appears to be mostly negated at this point. This popular Northeast Tallahassee neighborhood is seeing home sales each month at a rate that is only 30% of where it was in 2006 at the peak of the housing market.

Monthly Home Sales In Killearn Lakes Unit 2 Graph Image

In the real estate graph above, the number of home sales in Killearn Lakes 2 has been plotted each month, and then three trend lines have been generated. All 3 trend lines report falling numbers.

  • On average over the past ten years, 4.2 homes are selling each month (but this number is falling)
  • On average over the past five years, 2.7 homes are selling each month (but this number is falling)
  • On average over the past year, 2.2 homes are selling each month (but this number is falling)

Killearn Lakes 2 Depreciation Continues

When we look at home values in Unit 2 of Killearn Lakes, we see falling numbers that are consistent with the rest of the Tallahassee real estate market.

Home Appreciation Rates In Killearn Lakes Unit 2 Graph Image Picture

The bubble cloud points to a short-term appreciation period that occurred during the Homebuyer Tax Credit, but once that program came to an end, all of the gains were given back up. Currently, the trends indicate that we will see much more depreciation in Unit 2 of Killearn Lakes for the foreseeable future.

When we take the graph above and combine it with the current supply of homes for sale in Killearn Lakes 2, we know that the buyers market forces will propel prices down.

Average Home Prices Near Median In KLP2

The median price of a home in Tallahassee has usually tracked very closely with the average home price in Killearn Lakes Unit 2. In the real estate graph below, we see all three trends are showing a downward path:

  • The average price of a home sold in Killearn Lakes 2 over the past ten years is $180,000
  • The average price of a home sold in Killearn Lakes 2 over the past five years is $172,000
  • The average price of a home sold in Killearn Lakes 2 over the past year is $166,000

Recent Arms Length Killearn Lakes 2 Home Sales

KLP2 Address Price Size PPSFT Age Sale Date
8637 OAK FOREST TRL $150,000 1,565 $96 1990 10/29/2010
1709 INDIAN TOWN LN $161,000 2,045 $79 1989 10/6/2010
8640 OAK FOREST TRL $180,000 1,383 $130 1993 9/30/2010
8313 THORNRIDGE LN $195,000 1,745 $112 1987 8/4/2010
1619 FLINT RIDGE LN $178,000 1,522 $117 1991 6/28/2010
8769 MINNOW CREEK DR $130,000 1,374 $95 1987 6/21/2010
1838 FOLKSTONE RD $195,000 1,568 $124 1990 6/10/2010
1833 BRIDGEMONT TRL $155,000 1,200 $129 1992 6/4/2010
2261 TUSCAVILLA RD $156,900 1,784 $88 1990 6/3/2010
8212 HUNTERS RIDGE TRL $160,500 1,201 $134 2010 6/2/2010
1695 FOLKSTONE RD $153,000 1,364 $112 1992 5/27/2010
8209 BRIDGE WATER TRL $172,500 1,596 $108 1989 5/26/2010
8204 BRIDGE WATER TRL $140,000 1,276 $110 1985 5/10/2010
1892 FOLKSTONE RD $193,400 1,471 $131 1986 3/19/2010
8225 BRIDGE WATER TRL $129,600 1,897 $68 1986 3/18/2010
8251 CHICKASAW TRL $155,000 1,190 $130 1990 3/17/2010
8105 HOLLY RIDGE TRL $146,400 1,331 $110 1991 3/12/2010
1777 FOLKSTONE RD $162,500 1,384 $117 1991 3/10/2010
1776 FOLKSTONE RD $150,000 1,382 $109 2000 12/23/2009
8331 CHICKASAW TRL $242,500 2,075 $117 1987 12/18/2009
8340 CHICKASAW TRL $168,000 1,348 $125 1991 12/18/2009
8227 HUNTERS RIDGE TRL $168,000 1,404 $120 1993 12/7/2009
8132 HOLLY RIDGE TRL $125,000 1,264 $99 2000 12/3/2009
8371 CHICKASAW TRL $170,000 1,358 $125 1996 12/2/2009
8830 MINNOW CREEK DR $147,700 1,296 $114 1989 11/18/2009
1769 FOLKSTONE RD $178,000 1,341 $133 1993 11/3/2009
8288 CHICKASAW TRL $186,000 1,609 $116 1991 11/2/2009
8633 OAK FOREST TRL $100,000 1,293 $77 1994 10/20/2009
1701 BROKEN BOW TRL $185,500 1,340 $138 1998 9/25/2009
8109 HOLLY RIDGE TRL $152,000 1,187 $128 1993 9/9/2009
2344 TUSCAVILLA RD $155,000 1,232 $126 1987 8/24/2009
1735 FOLKSTONE RD $195,000 1,405 $139 1991 8/18/2009
1706 BROKEN BOW TRL $168,500 1,729 $97 1993 7/31/2009
1835 FOLKSTONE RD $165,000 1,203 $137 1989 7/27/2009
8228 CHICKASAW TRL $170,000 1,460 $116 2004 7/27/2009
8628 OAK FOREST TRL $189,900 1,544 $123 1993 7/10/2009
8675 OAK FOREST TRL $185,000 1,424 $130 1990 7/6/2009
8216 HUNTERS RIDGE TRL $190,500 1,623 $117 1989 6/23/2009
8623 OAK FOREST TRL $150,000 1,281 $117 1990 6/18/2009
8390 CHICKASAW TRL $174,500 1,383 $126 1992 6/16/2009
2284 TUSCAVILLA RD $142,500 1,317 $108 1992 6/5/2009
8612 OAK FOREST TRL $157,500 1,473 $107 1988 6/5/2009
8402 CHICKASAW TRL $148,500 1,466 $101 1986 3/24/2009
1788 FOLKSTONE RD $160,000 1,472 $109 1993 2/24/2009
1883 FOLKSTONE RD $145,000 1,467 $99 1992 1/27/2009
8256 HUNTERS RIDGE TRL $182,900 1,524 $120 1991 1/6/2009
1797 FOLKSTONE RD $170,000 1,392 $122 1993 12/30/2008
1887 FOLKSTONE RD $154,600 1,382 $112 1995 12/30/2008
2348 TUSCAVILLA RD $125,000 1,108 $113 1988 12/5/2008
1699 FOLKSTONE RD $167,500 1,420 $118 1991 11/24/2008
1707 FOLKSTONE RD $185,000 1,743 $106 1989 11/7/2008
2317 TUSCAVILLA RD $157,000 1,214 $129 1984 9/5/2008
8235 CHICKASAW TRL $162,000 1,341 $121 1989 9/5/2008
1863 FOLKSTONE RD $189,900 1,313 $145 1996 8/27/2008
8620 OAK FOREST TRL $163,000 1,232 $132 1988 8/5/2008
1709 BROKEN BOW TRL $229,000 1,686 $136   7/31/2008
1679 FOLKSTONE RD $191,500 1,468 $130 1997 7/25/2008
8753 MINNOW CREEK DR $240,000 1,617 $148 2004 7/21/2008
2363 TUSCAVILLA RD $160,000 1,088 $147 1985 7/18/2008
1875 FOLKSTONE RD $191,500 1,382 $139 1995 7/11/2008
8323 HUNTERS RIDGE TRL $194,500 1,560 $125 1989 7/11/2008
9113 BIRCH RUN LN $226,000 1,609 $140 1989 5/30/2008
1742 FOLKSTONE RD $177,000 1,255 $141 1992 5/20/2008
1628 FLINT RIDGE LN $169,000 1,290 $131 1987 5/1/2008
8287 HUNTERS RIDGE TRL $157,000 1,214 $129 1992 3/28/2008
8360 CHICKASAW TRL $182,000 1,520 $120 1988 3/26/2008
8220 HUNTERS RIDGE TRL $175,000 1,276 $137 1991 3/24/2008
8235 HUNTERS RIDGE TRL $199,000 1,442 $138 1992 2/28/2008
1705 BROKEN BOW TRL $227,000 1,662 $137   2/22/2008
8331 CHICKASAW TRL $200,000 2,075 $96 1987 2/22/2008
8336 CHICKASAW TRL $187,500 1,452 $129 1991 2/8/2008
2305 TUSCAVILLA RD $193,800 1,396 $139 1990 1/22/2008
9113 BITHLO LN $147,400 1,416 $104 1990 1/10/2008
1611 FLINT RIDGE LN $155,000 1,031 $150 1987 1/7/2008
8604 OAK FOREST TRL $199,500 1,284 $155 1990 12/28/2007
8653 OAK FOREST TRL $200,800 1,473 $136 1990 11/30/2007
1817 BRIDGEMONT TRL $196,000 1,288 $152 1989 11/2/2007
8340 CHICKASAW TRL $180,000 1,348 $134 1991 10/31/2007
2308 TUSCAVILLA RD $225,000 1,568 $143 1988 10/24/2007
1651 FOLKSTONE RD $194,000 1,379 $141 1991 10/23/2007
8235 HUNTERS RIDGE TRL $194,100 1,442 $135 1992 10/1/2007
1701 INDIAN TOWN LN $197,000 1,373 $143 1990 9/28/2007
2358 TUSCAVILLA RD $208,000 1,435 $145 1991 9/21/2007
8109 HOLLY RIDGE TRL $184,500 1,187 $155 1993 8/31/2007
8256 HUNTERS RIDGE TRL $191,500 1,524 $126 1991 8/24/2007
9105 HICKORY NUT HL $200,000 1,420 $141 1992 8/10/2007
9113 BIRCH RUN LN $211,200 1,609 $131 1989 8/10/2007
1709 GREENRIDGE TRL $190,000 1,410 $135 1991 7/31/2007
9108 BIRCH RUN LN $213,000 1,378 $155 1990 7/27/2007
1813 BRIDGEMONT TRL $200,000 1,238 $162 1989 6/29/2007
8629 OAK FOREST TRL $162,000 1,458 $111 1998 6/28/2007
2383 TUSCAVILLA RD $221,000 1,464 $151 1992 6/27/2007
8312 CHICKASAW TRL $162,600 1,737 $94 1995 6/27/2007
2289 TUSCAVILLA RD $190,000 1,164 $163 1985 6/22/2007
8353 HUNTERS RIDGE TRL $206,000 1,458 $141 1994 6/22/2007
8316 CHICKASAW TRL $171,000 1,737 $98 1995 6/14/2007
8814 MINNOW CREEK DR $235,400 1,638 $144 1994 6/14/2007
1721 INDIAN TOWN LN $191,300 1,213 $158 1990 6/12/2007
1811 FOLKSTONE RD $194,500 1,408 $138 1991 6/8/2007
8632 OAK FOREST TRL $204,500 1,533 $133 1994 5/21/2007
8825 MINNOW CREEK DR $187,900 1,124 $167 1987 5/4/2007
1776 FOLKSTONE RD $201,000 1,382 $145 2000 5/3/2007
2249 TUSCAVILLA RD $190,000 1,587 $120 1990 4/27/2007
8382 CHICKASAW TRL $190,000 1,454 $131 1990 4/11/2007
1891 FOLKSTONE RD $166,700 1,436 $116 1993 3/29/2007
1735 FOLKSTONE RD $212,500 1,405 $151 1991 3/16/2007
8807 MINNOW CREEK DR $189,900 1,308 $145 1988 3/5/2007
8213 BRIDGE WATER TRL $236,500 1,680 $141 1995 2/28/2007
1887 FOLKSTONE RD $202,100 1,382 $146 1995 2/23/2007
8810 MINNOW CREEK DR $153,000 1,638 $93 1994 2/20/2007
8794 MINNOW CREEK DR $199,900 1,245 $161 1991 1/5/2007
1792 FOLKSTONE RD $213,000 1,648 $129 1988 1/4/2007

 

 

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.

Leave a Comment