Piney Z Still Fighting Declining Home Values

Posted by Joe Manausa on Thursday, October 29th, 2009 at 10:01am.

Who is kicking butt in Tallahassee real estateEvery time I do a Tallahassee neighborhood report featuring Piney-Z, it seems like my comments and email go from positive to negative. I have even been accused of "bashing" the Piney Z Subdivision (as if I hold a grudge against a community???).

Certainly, that is not the case. Piney Z is a very desirable neighborhood located in Northeast Tallahassee, with home prices about 20% above the median for our county.  I try to do regularly updates for many of the more active neighborhoods in Tallahassee, and Piney Z falls into this category.

Monthly Resales Stabilizing In Piney Z

This first real estate graph features existing home sales (resales) in Piney Z, with all of the non "arms length" sales removed. It is the clearest reflection of regular market activity in the past. When you look to the base of the graph, you will find that I am not using information from the Tallahassee MLS, rather I am reporting on all of the sales in the Piney Z neighborhood.

Piney Z Home Sales Graph In Tallahassee

What this graph is showing is that unit sales in Piney Z (vertical blue bars) have dropped roughly 70% since the peak of the market, but monthly sales seem to be stabilizing around 3 resales per month since July of 2008.

The bad news is that the average home price in Piney Z continues to decline. The red line in the graph above demonstrates that the average home price in Piney Z has dropped below $220,000 and appears to be going lower.

Piney Z Home Values Continue To Decline

Home values are still on the decline in Piney Z. Average home values have dropped about 19% since the peak in 2007 and the current trend continues to go downward, as measured by the average price per square foot of a home in Piney Z (green line in graph below).

Price Per Square Foot For Homes In Piney Z In Tallahassee

Advice For Piney Z Homeowners

This is actually quite simple. If you do not need to move, then enjoy the fact that you are living in a great neighborhood, with excellent amenities, and located near so much of what Tallahassee has to offer. Recognize that your home is well above the median price point and there are tens of thousands of people that would love to move there today.

If you have to sell your home in Piney Z, then sit down with a top real estate professional in Tallahassee and look at the specific market value of your home. You will receive the advice and guidance that you will need when preparing to face the toughest market that Piney Z has had to endure.

HousingReporter On Twitter Is The Top Twitter Real Estate Broker Please click here to tweet this to your friends!

Historical Home Sales In Piney Z Subdivision

Parcel Address Price SqFt HC Sale Date
4905 PARKVIEW CT 167,300 1729 10/13/2009
1141 HIGH MEADOW DR 180,000 1586 9/30/2009
4882 HERITAGE PARK BLVD 202,500 1716 9/21/2009
4909 PARKVIEW CT 185,000 1774 9/11/2009
836 EAGLE VIEW DR 255,000 2036 9/4/2009
685 EAGLE VIEW CIR 320,000 2515 8/28/2009
821 PINEY VILLAGE LOOP 235,000 1960 7/30/2009
964 PARKVIEW DR 232,000 1983 7/17/2009
1036 PARKVIEW DR 195,000 1461 6/30/2009
1045 LANDINGS LOOP 170,000 1599 6/23/2009
4732 PLANTATION VIEW DR 280,000 2351 6/22/2009
780 EAGLE VIEW DR 251,000 1976 6/15/2009
750 EAGLE VIEW DR 268,000 2625 6/12/2009
1162 LANDINGS LOOP 175,300 1478 6/11/2009
4590 HERITAGE PARK BLVD 284,000   6/4/2009
4919 PLANTERS RIDGE DR 196,000 1506 6/1/2009
4837 PLANTERS RIDGE DR 195,500 1587 5/22/2009
905 PINEY Z PLANTATION RD 265,000 2078 5/22/2009
1213 LANDINGS LOOP 180,000 1461 5/14/2009
4905 PARKVIEW CT 167,300 1729 5/12/2009
1148 WINTER LN 165,000 1483 5/7/2009
1037 PINEY Z PLANTATION RD 182,500 1460 4/17/2009
974 PARKVIEW DR 247,500 1815 4/17/2009
4915 PLANTERS RIDGE DR 226,000 1755 4/10/2009
765 EAGLE VIEW DR 305,000 2468 3/12/2009
1018 HIGH MEADOW DR 194,000 1571 3/9/2009
4726 PLANTERS RIDGE DR 200,000 1711 3/3/2009
4907 HERITAGE PARK BLVD 190,000 1701 1/16/2009
1057 LANDINGS LOOP 175,000 1374 12/12/2008
1150 LANDINGS LOOP 180,000 1501 11/24/2008
4877 LAKE PARK DR 270,000 2287 11/17/2008
4759 PLANTERS RIDGE DR 214,000 1561 11/14/2008
4915 HERITAGE PARK BLVD 225,000 1701 10/30/2008
669 EAGLE VIEW CIR 315,000 2496 10/14/2008
1168 LANDINGS LOOP 185,000 1478 10/10/2008
4751 PLANTERS RIDGE DR 208,000 1500 10/10/2008
1162 HIGH MEADOW DR 185,000 1430 10/3/2008
911 PARKVIEW DR 275,000 2062 10/1/2008
1047 PARKVIEW DR 215,000 1819 9/24/2008
4917 LAKE PARK DR 230,000 1710 9/12/2008
4650 SOARING WAY 332,000 2547 9/4/2008
825 EAGLE VIEW DR 260,000 2338 8/22/2008
742 EAGLE VIEW DR 345,000 2516 8/8/2008
1025 PARKVIEW DR 248,000 1830 7/21/2008
817 EAGLE VIEW DR 282,500 2124 7/17/2008
1108 WINTER LN 190,000 1374 7/7/2008
1148 LANDINGS LOOP 200,000 1461 7/3/2008
1096 LANDINGS LOOP 187,500 1426 6/23/2008
1055 PARKVIEW DR 205,000 1723 6/23/2008
1032 KINGDOM DR 185,000 1479 6/20/2008
1149 LANDINGS LOOP 190,000 1495 6/20/2008
868 EAGLE VIEW DR 351,000   6/9/2008
1015 KINGDOM DR 167,000 1321 5/30/2008
1072 PINEY Z PLANTATION RD 215,000 1604 5/29/2008
1112 WINTER LN 200,000 1479 5/9/2008
4661 NESTING TRL 272,000 2097 5/8/2008
1137 WINTER LN 213,000 1555 4/30/2008
989 PARKVIEW DR 321,000 1912 4/25/2008
1221 LANDINGS LOOP 207,000 1461 4/21/2008
874 PINEY VILLAGE LOOP 368,000   4/17/2008
4856 LAKE PARK DR 297,500 2120 4/11/2008
4710 PLANTERS RIDGE DR 208,500 1539 3/28/2008
861 EAGLE VIEW DR 372,900   3/10/2008
1149 WINTER LN 198,000 1399 2/29/2008
1174 HIGH MEADOW DR 200,000 1550 2/29/2008
729 EAGLE VIEW CIR 350,000 2458 2/29/2008
867 EAGLE VIEW DR 310,000 2242 12/20/2007
910 PARKVIEW DR 286,000 2684 12/18/2007
1020 KINGDOM DR 200,000 1539 12/17/2007
1100 WINTER LN 245,000 1747 12/7/2007
1183 LANDINGS LOOP 210,000 1461 11/20/2007
4712 PLANTATION VIEW DR 379,900   11/5/2007
933 PINEY Z PLANTATION RD 317,500 2174 10/19/2007
913 PINEY Z PLANTATION RD 260,000 1884 10/12/2007
701 EAGLE VIEW CIRCLE 335,000 1940 10/12/2007
4922 HERITAGE PARK BLVD 220,000 1716 10/3/2007
1004 PINEY Z PLANTATION RD 205,000 1671 9/25/2007
995 PARKVIEW DR 292,500 2153 9/17/2007
866 PINEY VILLAGE LOOP 370,000   9/4/2007
917 PARKVIEW DR 298,000 1997 8/24/2007
917 PARKVIEW DR 298,000 1997 8/24/2007
4881 LAKE PARK DR 253,000 1865 8/21/2007
1149 LANDINGS LOOP 211,600 1495 8/14/2007
1001 KINGDOM DR 184,000 1644 8/3/2007
1149 HIGH MEADOW DR 205,000 1358 7/31/2007
4853 PLANTERS RIDGE DR 260,000 1641 7/27/2007
4877 LAKE PARK DR 273,500 2287 7/18/2007
1069 KINGDOM DR 210,000 1481 7/16/2007
636 EAGLE VIEW CIR 283,000 1962 7/16/2007
1066 HIGH MEADOW DR 241,000 1588 7/13/2007
1107 WINTER LN 247,500 1673 7/6/2007
1034 HIGH MEADOW DR 255,000 1831 7/2/2007

subscribe-to-the-exclusive-tallahassee-real-estate-newsletter

As a reminder for those who subscribe to the Tallahassee Real Estate Blog by email, some embedded pictures and videos might not be appearing in your email and you might need to click the title header to go to your browser where all will be visible. Additionally, if you would like to respond (leave a comment) to this article, you will need to “click through” to the blog site to post your feedback.

Keep checking out the Tallahassee Real Estate Blog every day for updates on real estate in Tallahassee Florida.

Joe Manausa is a real estate blogger, 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.

Home Sales Advice 10 Critical Home Selling Steps Provide feedback with a real estate survey Creative Financing Options For Home Buyers Buy A Short Sale

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