Tallahassee Subdivisions 2009 Home Sales Report

Posted by Joe Manausa on Friday, January 22nd, 2010 at 1:32pm.

In 2009, there were home sales recorded in 806 of these Tallahassee neighborhoods (legally called Subdivisions). I decided to take a fairly quick look to see which neighborhoods were selling the most properties.

Tallahassee has a lot of subdivisions for the number of homes in town. In 2009, there were home sales recorded in 806 of these Tallahassee neighborhoods (legally called Subdivisions). I decided to take a fairly quick look to see which neighborhoods were selling the most properties.

I went to the tax records for all of Leon County, Florida in order to determine the following:

  1. How many homes sold in each Tallahassee subdivision.
  2. What was the average home price in each subdivision.
  3. What percent of home sales were not "arms length."
  4. At what discount did non-arms length home sales trade to arms length home sales.

My findings were not surprising. Now bear in mind, there might still be sales recorded that occurred in 2009, so the fairest way to do this was to gather all home sales in Tallahassee that were recorded in 2009.

Since the Leon County Property Appraiser does not record whether a sale was arms length or non-arms length, I had to go through the 3,300+ residential property transfers to label them one way or another. I would suspect that I did not get them all correct, but I am comfortable that the results are fairly accurate, and the data is "good enough" to give us a broad view of Tallahassee subdivisions and how they all did last year.

Tallahassee Subdivisions Deal With Distressed Properties

Perhaps the biggest concern of homeowners in Tallahassee is the impact of distressed properties on home values. Traditionally, distressed properties have represented such a small segment of homes for sale in Tallahassee that they had little or no impact on market valuations. But that is not the case any longer.

For the purpose of the following real estate graph, all "non-arms length" transactions have been lumped together. There are always "normal" non-arms length transactions, such as a sale of a home from one family member to another. It is the "abnormal" ones that are having an impact on home values in Tallahassee.

Unfortunately, it would take a team of people to sort through over 3,000 home sales to extract the normal from the abnormal, so we'll just have to look at each Tallahassee subdivision in a relative sense (all areas would have the same likelihood of having the "normal" non-arms length transactions.

In the graph below, every Tallahassee subdivision with 12 or more home sales recorded in 2009 is listed. The blue bars show the subdivisions with highest percentage of non-arms length transactions (from left to right), while the red bars show what the average arms-length sale sold for compared to the average arms length home sales price.

Tallahassee Subdivisions Non Arms Length Graph

Tallahassee Subdivision Report

For those of you having a hard time reading the neighborhoods in the graph above, the following information was used to assemble the report.

Subdivision Price - AL Price - NAL Avg. Price AL # NAL # Total % NAL Distressed Cost
SOUTHWOOD $280,620 $232,277 $262,632 81 48 129 37% 17%
KILLEARN LAKES $201,558 $127,922 $187,561 98 23 121 19% 37%
KILLEARN ESTATES $250,296 $92,386 $224,590 72 14 86 16% 63%
BARRINGTON PARK CONDO $102,399 $79,200 $101,161 71 4 75 5% 23%
KILLEARN ACRES $182,667 $91,367 $168,500 49 9 58 16% 50%
PINEY-Z $218,665 $131,914 $203,854 34 7 41 17% 40%
WOODBRIAR $119,000 $45,529 $63,449 10 31 41 76% 62%
BULL RUN $294,560 $214,460 $283,117 30 5 35 14% 27%
GOLDEN EAGLE PLANTATION $645,625 $369,814 $583,345 24 7 31 23% 43%
SUMMERBROOKE $358,804 $325,000 $357,638 28 1 29 3% 9%
GLEN AT GOLDEN EAGLE $212,069 $109,050 $204,711 26 2 28 7% 49%
BETTON HILL $285,170 $143,667 $268,842 23 3 26 12% 50%
WEEMS PLANTATION $170,645 $24,200 $151,543 20 3 23 13% 86%
RIVER'S LANDING $151,205 $0 $151,205 22 0 22 0% 100%
MEADOWS AT WOODRUN $128,200 $49,390 $92,377 12 10 22 45% 61%
OX BOTTOM MANOR $332,243 $234,957 $299,814 14 7 21 33% 29%
VILLAGES OF MACLAY T/H $196,650 $163,767 $191,952 18 3 21 14% 17%
PLAZA TOWER CONDO $301,335 $0 $301,335 20 0 20 0% 100%
ARBOR HILL $140,639 $65,100 $133,085 18 2 20 10% 54%
INDIAN HEAD ACRES $156,000 $52,500 $128,763 14 5 19 26% 66%
WOLF CREEK $122,444 $64,050 $91,711 9 10 19 53% 48%
VILLAGES AT WILSON GREEN $132,400 $58,782 $66,532 2 17 19 89% 56%
PEBBLE BROOKE $151,400 $96,350 $145,283 16 2 18 11% 36%
PARK CHARLESTON $242,056 $174,688 $210,353 9 8 17 47% 28%
VILLAS AT PINE FOREST $155,263 $78,500 $150,747 16 1 17 6% 49%
SETTLERS CREEK $142,031 $64,300 $137,459 16 1 17 6% 55%
ASTORIA PARK $132,957 $97,250 $128,494 14 2 16 13% 27%
SCOTSWOOD TOWNHOMES $150,127 $59,860 $121,919 11 5 16 31% 60%
PLANTATION WOODS $137,300 $38,800 $112,675 12 4 16 25% 72%
TIMBER LAKE REPLAT $127,709 $64,580 $107,981 11 5 16 31% 49%
HAMPTON CREEK $169,160 $0 $169,160 15 0 15 0% 100%
LAKESHORE ESTATES $172,827 $50,400 $140,180 11 4 15 27% 71%
TERRENCE HEIGHTS $137,182 $71,050 $119,547 11 4 15 27% 48%
HUNTINGTON WOODS $127,222 $23,600 $85,773 9 6 15 40% 81%
AVONDALE $214,544 $64,480 $160,950 9 5 14 36% 70%
CAMELOT PARK $167,077 $60,400 $159,457 13 1 14 7% 64%
BRIGHTON PLACE CONDO $150,223 $65,000 $144,136 13 1 14 7% 57%
FOREST HEIGHTS $145,118 $91,833 $133,700 11 3 14 21% 37%
SEMINOLE MANOR $78,420 $57,425 $72,421 10 4 14 29% 27%
GOOSE CREEK $223,591 $203,000 $220,423 11 2 13 15% 9%
WOODLAND DRIVE $221,309 $74,900 $198,785 11 2 13 15% 66%
APALACHEE EAST $186,654 $0 $186,654 13 0 13 0% 100%
HOLLY HILLS $207,690 $46,733 $170,546 10 3 13 23% 77%
MELODY HILLS $171,363 $74,620 $134,154 8 5 13 38% 56%
NATURAL WELLS $147,589 $62,950 $121,546 9 4 13 31% 57%
SUMMERCHASE CONDOMINIUMS $120,750 $33,900 $100,708 10 3 13 23% 72%
SAVANNAH CROSSING CONDOMINIUM $110,083 $72,957 $90,092 6 7 13 54% 34%
FOXCROFT $197,690 $103,050 $181,917 10 2 12 17% 48%
MONTEJO $147,100 $0 $147,100 12 0 12 0% 100%
KILLEARN COMMONS $186,575 $43,900 $139,017 8 4 12 33% 76%
DRY CREEK RUN $154,156 $62,033 $131,125 9 3 12 25% 60%
LAKE JACKSON HEIGHTS $156,114 $50,160 $111,967 7 5 12 42% 68%
AUTUMN WOODS $122,943 $44,940 $90,442 7 5 12 42% 63%
GRIFFIN COLLEGE HEIGHTS $78,333 $37,444 $47,667 3 9 12 75% 52%
OBSERVATION POINTE $208,636 $0 $208,636 11 0 11 0% 100%
CAMERON CHASE $220,800 $100 $200,736 10 1 11 9% 100%
CAPITAL HILLS $155,800 $62,500 $138,836 9 2 11 18% 60%
EASTGATE $132,229 $97,525 $119,609 7 4 11 36% 26%
SUNNILAND TERRACE $120,767 $20,550 $102,545 9 2 11 18% 83%
THE TIMBERS TOWNHOMES $105,189 $24,150 $90,455 9 2 11 18% 77%
WAVERLY HILLS $250,000 $175,000 $227,500 7 3 10 30% 30%
DEERFIELD PLANTATION $191,500 $184,333 $189,350 7 3 10 30% 4%
MEADOWBROOK $187,822 $13,900 $170,430 9 1 10 10% 93%
SETTLERS SPRINGS $153,330 $0 $153,330 10 0 10 0% 100%
PLANTATION OF TALLAHASSEE PECAN $121,633 $123,725 $122,470 6 4 10 40% -2%
CHATEAU LAFAYETTE TOWNHOMES $138,125 $48,050 $120,110 8 2 10 20% 65%
LAKEWOOD VILLAGE $138,660 $61,880 $100,270 5 5 10 50% 55%
LAFAYETTE OAKS $278,700 $172,000 $254,989 7 2 9 22% 38%
ROYAL OAKS $227,043 $100 $176,611 7 2 9 22% 100%
HOMESTEAD RIDGE $182,700 $104,150 $165,244 7 2 9 22% 43%
BRIAR CHASE $170,757 $141,300 $164,211 7 2 9 22% 17%
HARTSFIELD WOODS $125,338 $72,500 $119,467 8 1 9 11% 42%
WESTWOOD CONDOMINIUM $88,978 $0 $88,978 9 0 9 0% 100%
THE LAKES $91,367 $55,200 $79,311 6 3 9 33% 40%
RENEGADE CONDOMINIUM $54,983 $35,067 $48,344 6 3 9 33% 36%
APALACHEE RIDGE $98,750 $19,443 $37,067 2 7 9 78% 80%
HADLEY CROSSING $264,000 $361,233 $336,925 2 6 8 75% -37%
GLENDALE $255,725 $0 $255,725 8 0 8 0% 100%
HARTSFIELD PLACE $188,013 $0 $188,013 8 0 8 0% 100%
COTTAGES OF MICCOSUKEE HILLS CON $177,788 $0 $177,788 8 0 8 0% 100%
TOWN 'N COUNTRY PARK $184,980 $104,300 $154,725 5 3 8 38% 44%
34-01N-02E $230,000 $77,860 $134,913 3 5 8 63% 66%
TOWER OAKS $134,175 $0 $134,175 8 0 8 0% 100%
HIDDEN VALLEY $125,267 $72,000 $111,950 6 2 8 25% 43%
CRESCENT HILLS $141,100 $61,833 $111,375 5 3 8 38% 56%
SETTLERS CREEK ADDITION $95,613 $0 $95,613 8 0 8 0% 100%
SCENIC HEIGHTS $157,250 $25,125 $91,188 4 4 8 50% 84%
HARTSFIELD VILLAGE $107,320 $62,167 $90,388 5 3 8 38% 42%
MYSTIC WOODS CONDO $89,900 $75,933 $84,663 5 3 8 38% 16%
APALACHEE HILLS $98,600 $27,900 $72,088 5 3 8 38% 72%
07-01S-01E $118,750 $34,817 $55,800 2 6 8 75% 71%
BOBBIN TRACE $879,000 $0 $879,000 7 0 7 0% 100%
PINE TIP HILLS $402,483 $33,100 $349,714 6 1 7 14% 92%
CHEMONIE CROSSING $383,317 $46,400 $335,186 6 1 7 14% 88%
THE RAVINES $303,120 $286,350 $298,329 5 2 7 29% 6%
ADIRON WOODS $287,680 $314,950 $295,471 5 2 7 29% -9%
STONEY CREEK CROSSING $285,667 $245,000 $279,857 6 1 7 14% 14%
SWIFT CREEK WOODS $268,860 $101,250 $220,971 5 2 7 29% 62%
BROCKSWOOD PARK $233,300 $100 $199,986 6 1 7 14% 100%
LAKESIDE $177,460 $125,000 $162,471 5 2 7 29% 30%
HIGHLANDS AT NORTHAMPTON $177,550 $68,300 $161,943 6 1 7 14% 62%
CHASE'S RIDGE $111,986 $0 $111,986 7 0 7 0% 100%
TALLAHASSEE HIGHLANDS $107,400 $0 $107,400 7 0 7 0% 100%
COPPER CREEK $121,780 $64,000 $105,271 5 2 7 29% 47%
THE MEADOWS $146,080 $100 $104,371 5 2 7 29% 100%
BLAIRSTONE FOREST $133,633 $73,550 $99,300 3 4 7 57% 45%
CARROLLWOOD $95,833 $100 $82,157 6 1 7 14% 100%
CAPITAL CITY ESTATES $129,500 $43,440 $68,029 2 5 7 71% 66%
FAIRVIEW $54,000 $4,100 $11,229 1 6 7 86% 92%

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.

2 Responses to "Tallahassee Subdivisions 2009 Home Sales Report"

Bob Clarke wrote: Phenominal website. Great information ... and lots of it!!

Posted on Saturday, January 23rd, 2010 at 12:26pm.

Joe Manausa, MBA wrote: Thanks Bob.

Posted on Saturday, January 23rd, 2010 at 2:33pm.

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