Summerbrooke Existing Home Sales On Steady Decline

Posted by Joe Manausa on Friday, October 30th, 2009 at 11:57am.

Find A Home In Summerbrooke in TallahasseeTallahassee has quite a few golf courses and most of them have neighborhoods that are built around and through the golf courses. In the northeast quadrant of Tallahassee, you can find the Summerbrooke neighborhood which is also built around a locally developed golf course.

The Tallahassee Real Estate Blog often visits Summerbrooke in order to keep our readers informed of the activity in the housing market. As we have seen (and reported) in the past, Summerbrooke home sales continue to be affected by the market as much as any other neighborhood in Tallahassee.

Summerbrooke Home Sales Stabilizing At 2 Per Month

When we measure the trend of recent home sales in Summerbrooke, we can see the market has plummeted 63% from the peak when more than 6 resale homes per month were selling. It appears as if the Summerbrooke housing market has stabilized at about 2 homes selling monthly.

Summerbrooke Home Sales Graph

The average home price in Summerbrooke has dropped 20% since the peak of the market. The red shaded area in the real estate graph above shows how rapidly average home prices rose, and how they have come back about 1/3rd of the way.

Home Values Continue Dropping In Summerbrooke

When we look at the average price per square foot of homes sold in Summerbrooke, we get an overall feel for how well home values have held. Valuations appear to have fallen roughly 16% since the peak of the market in 2006. This graph also demonstrates how rapidly the home values in Summerbrooke appreciated, with values going from $92 per square foot in 2000 and the market cresting at $165 per square foot before the end of 2006. That is a real estate appreciation rate of 79% in less than 6 full years!

Summerbrooke Existing Home Sales Graph

Because of the slow down in the Summerbrooke housing market, I suspect we are going to see more trimming of these huge gains. Currently, valuations are similar to what was seen in 2005, and with the glut of homes in this price range in northeast Tallahassee, the trend will continue to drop for at least the next 6 months.

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Recent "Arms Length" Existing Home Sales In Summerbrooke

Parcel Address Price SqFt HC Sale Date
924 SUMMERBROOKE DR $360,000 2,294 8/31/2009
1276 CONSERVANCY DR E $395,000 2,980 8/13/2009
1044 SUMMERBROOKE DR $380,000 3,329 8/11/2009
1136 GREENSWARD DR $383,000 2,447 8/10/2009
893 SUMMERBROOKE DR $309,000 2,822 8/10/2009
1009 SUMMERBROOKE DR $412,500 2,404 8/7/2009
637 SUMMERBROOKE DR $374,000 2,956 8/4/2009
7874 PRESERVATION RD $325,000 2,363 7/24/2009
7734 CRICKLEWOOD DR $400,000 3,326 7/10/2009
1337 CONSERVANCY DR E $335,000 2,263 6/29/2009
7912 PRESERVATION RD $315,000 2,239 5/22/2009
1359 CONSERVANCY CT E $277,500 2,153 5/7/2009
7110 HERITAGE RIDGE RD $369,000 2,523 5/6/2009
7510 PRESERVATION RD $485,000 2,847 5/6/2009
7516 PRESERVATION RD $376,000 2,450 4/24/2009
1228 GREENSWARD DR $460,000 3,032 4/3/2009
1346 CONSERVANCY DR E $385,000 2,940 4/3/2009
7845 PRESERVATION RD $240,000 2,151 3/16/2009
6520 SPICEWOOD LN $325,000 2,436 2/6/2009
8086 RONDS POINTE CT $370,000 2,448 1/12/2009
7477 PRESERVATION RD $550,000 3,641 12/10/2008
7708 PRESERVATION RD $410,000 2,910 12/5/2008
1144 GREENSWARD DR $365,000 2,799 12/2/2008
1383 CONSERVANCY DR E $360,000 2,700 11/24/2008
8116 BLENHEIM LN $342,900 2,448 11/21/2008
1435 CONSERVANCY DR E $439,000 2,961 10/31/2008
8129 VIBURNUM CT $390,000 2,891 10/27/2008
7585 PRESERVATION RD $440,000 3,217 9/12/2008
917 SUMMERBROOKE DR $535,000 3,018 9/5/2008
7133 WOODED GORGE RD $440,000 3,622 8/1/2008
1108 GREENSWARD DR $452,500 3,203 7/30/2008
1209 CONSERVANCY DR E $315,000 2,318 7/9/2008
1224 GREENSWARD DR $540,000 3,386 6/30/2008
1435 CONSERVANCY DR E $440,000 2,961 6/30/2008
512 SUMMERBROOKE DR $450,000 2,530 6/27/2008
1378 CONSERVANCY DR E $415,000 2,661 6/20/2008
8124 BLENHEIM LN $334,000 2,532 6/11/2008
1060 SUMMERBROOKE DR $460,000 3,004 6/10/2008
1400 CONSERVANCY DR E $380,000 2,573 5/15/2008
1304 CONSERVANCY DR E $435,000 2,813 5/1/2008
1112 LOCHKNOLL CT $630,000 3,717 4/25/2008
8136 VIBURNUM CT $380,000 2,768 3/21/2008
883 HILL ROOST RD $319,300 2,178 3/21/2008
874 HILL ROOST RD $489,900 3,158 3/21/2008
1391 CONSERVANCY DR E $365,000 2,437 3/5/2008
7083 SPICEWOOD LN $315,000 2,128 1/31/2008
7540 PRESERVATION RD $465,000 2,728 1/18/2008
7116 WOODED GORGE RD $390,000 2,360 1/7/2008
7695 WILLOW BASTIC CT $365,000 2,501 1/5/2008
7684 PRESERVATION RD $373,000 2,543 12/27/2007
7993 PRESERVATION RD $385,000 2,570 12/27/2007
940 SUMMERBROOKE DR $365,000 2,543 11/16/2007
1113 LOCHKNOLL CT $800,000 4,037 11/5/2007
7501 REFUGE RD $505,000 2,847 11/2/2007
7727 PRESERVATION RD $470,000 2,578 10/31/2007
1328 CONSERVANCY DR E $450,000 2,859 10/30/2007
8071 LONGMEADOW DR $355,000 2,694 10/15/2007
1112 GREENSWARD DR $330,000 2,338 10/9/2007
7894 RAEL CT $585,000   10/9/2007
7923 PRESERVATION RD $475,000 2,625 8/20/2007
1307 CONSERVANCY DR E $360,000 2,233 8/15/2007
7064 SPICEWOOD LN $357,000 1,939 8/15/2007
6999 SPICEWOOD LN $399,900 3,002 8/13/2007
1348 CONSERVANCY DR E $525,000 2,732 8/7/2007
6680 SPICEWOOD LN $435,000 2,837 7/27/2007
7542 REFUGE RD $490,000 2,954 7/23/2007
7767 PRESERVATION RD $385,900 2,474 7/6/2007
7959 PRESERVATION RD $400,000 2,476 7/3/2007
7898 PRESERVATION RD $387,000 2,181 6/29/2007
8157 PARTERRE CT $420,000 2,458 6/15/2007
1212 CONSERVANCY DR E $509,900 2,615 6/8/2007
1144 GREENSWARD DR $430,000 2,808 6/4/2007
317 SUMMERBROOKE DR $440,000 2,359 6/1/2007
7733 CRICKLEWOOD DR $500,000 2,608 5/31/2007
980 SUMMERBROOKE DR $387,500 2,526 4/23/2007
8060 PRESERVATION RD $439,000 2,901 4/2/2007
7128 UPLAND GLADE $337,900 2,377 3/30/2007
7130 NESTERS DR $491,500 3,027 3/30/2007
7140 WOODED GORGE RD $443,000 2,673 3/30/2007
7036 HERITAGE RIDGE RD $460,000 3,187 3/19/2007
1431 CONSERVANCY DR E $360,000 2,428 3/12/2007
7133 WOODED GORGE RD $400,000 3,622 2/28/2007
7757 CRICKLEWOOD DR $430,000 2,678 2/28/2007
7575 PRESERVATION RD $499,000 3,110 2/27/2007
1204 WAX WING CT $315,000 2,035 2/23/2007
1244 CONSERVANCY DR E $465,000 2,683 2/16/2007
1315 CONSERVANCY DR E $370,000 2,328 2/2/2007
1156 RONDS POINTE DR E $459,900 2,806 1/18/2007
1356 CONSERVANCY DR E $397,000 2,365 12/28/2006
1268 CONSERVANCY DR E $440,000 3,033 12/27/2006
1268 CONSERVANCY DR E $440,000 3,033 12/27/2006
7983 LOCHKNOLL LN $495,000 2,911 12/22/2006
1220 GREENSWARD DR $475,000 3,190 12/20/2006
1196 GREENSWARD DR $525,000 3,090 12/15/2006
1205 GREENSWARD DR $425,000 2,490 11/30/2006
8169 PARTERRE CT $381,000 2,571 11/30/2006
7115 NESTERS DR $535,000 3,180 11/22/2006
1356 CONSERVANCY DR E $397,000 2,365 11/7/2006
7641 SUMMER TANAGER DR $520,000 3,122 10/13/2006
1252 CONSERVANCY DR E $610,000 3,944 10/12/2006
8122 VIBURNUM CT $369,900 2,164 10/12/2006
1379 CONSERVANCY DR E $425,000 2,826 10/2/2006

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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.

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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.

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