I have been conducting home appreciation studies on many Tallahassee neighborhoods, hoping to find some that are doing well despite the tough market that we are in. Most Tallahassee subdivisions have seen depreciation (from the peak of the market) in the 15 to 20% range, and reduced unit sales by greater than 60%. But this morning, I stumbled upon a Tallahassee neighborhood that has thus far bucked part of the recent trend.
The Royal Oaks Subdivision is located just off of Thomasville Road on the Northwest side of Killearn Estates. Home values have thus far appreciated quite nicely over the past 20 years, with growth in each of the last three years as well! This is the first Tallahassee neighborhood that I have found that has done this.
Of course, like many other subdivisions in Tallahassee, Royal Oaks has seen the number of home sales decline greatly. There has been an average of about 15 home sales in Royal Oaks each year for quite some time, only to see it fall to 6 last year and only 1 thus far in 2009. Most likely, prices are holding up because home owners are more entrenched and do not need to move. Regardless of the reason, it is nice seeing a real estate graph showing appreciation!
Royal Oaks Home Values Record Consistent Appreciation
This first real estate graph shows the number of home sales in Royal Oaks (red bars) declining, but the average price per square foot of a home in Royal Oaks (green field) to be rising!
Average Home Price In Royal Oaks Still Rising?
With only 1 sale thus far in 2009, Royal Oaks doesn’t have enough “data” to claim to see higher average prices. In 2008, the average price of a home sold in Royal Oaks dropped for the first time since 1998, indicating that as sales started to slow, buyers were choosing the smaller, more affordable homes in Royal Oaks.
This next real estate graph shows home sales in the Royal Oaks Neighborhood (red bars) and contrasts them with the rising average sales price (blue field).
Recent Existing Home Sales In Royal Oaks Subdivision
| Parcel Address | Sales Price | Size | Sale Date |
| 3966 ROYAL OAKS DR | $330,000 | 2,390 | 2/19/2009 |
| 3915 ROYAL OAKS DR | $238,000 | 2,100 | 10/2/2008 |
| 3949 ROYAL OAKS DR | $363,000 | 2,448 | 8/29/2008 |
| 2404 ROYAL OAKS DR | $216,500 | 1,845 | 6/20/2008 |
| 3809 FORSYTHE WAY | $246,900 | 1,848 | 5/29/2008 |
| 2627 CHUMLEIGH CIR | $260,000 | 1,700 | 5/9/2008 |
| 4577 BARCLAY LN | $250,000 | 1,664 | 5/3/2008 |
| 3825 FORSYTHE WAY | $275,000 | 2,126 | 12/20/2007 |
| 4108 YARDLEY CIR | $207,500 | 1,620 | 12/15/2007 |
| 3930 ROYAL OAKS DR | $330,000 | 2,646 | 12/7/2007 |
| 3955 ROYAL OAKS DR | $212,000 | 1,624 | 12/5/2007 |
| 2683 CHUMLEIGH CIR | $310,000 | 2,103 | 9/17/2007 |
| 4019 YARDLEY CIR | $228,000 | 1,766 | 8/21/2007 |
| $272,900 | 2,039 | 8/13/2007 | |
| 3017 BARCLAY CT | $261,900 | 1,887 | 8/7/2007 |
| 2768 CHUMLEIGH CIR | $280,000 | 2,062 | 7/25/2007 |
| 3914 ROYAL OAKS DR | $290,000 | 2,236 | 6/29/2007 |
| 2904 ARROW CT | $295,000 | 2,016 | 4/30/2007 |
| 3911 FORSYTHE WAY | $290,000 | 2,221 | 2/28/2007 |
| 4577 BARCLAY LN | $235,000 | 1,664 | 12/13/2006 |
| 2935 ROYAL OAKS DR | $240,000 | 1,624 | 11/28/2006 |
| 3918 ROYAL OAKS DR | $277,500 | 2,184 | 8/23/2006 |
| 3922 ROYAL OAKS DR | $249,500 | 1,976 | 8/14/2006 |
| 2987 BARCLAY CT | $294,200 | 2,130 | 6/21/2006 |
| 4000 CAMELOT WAY | $205,000 | 1,856 | 6/7/2006 |
| 3910 ROYAL OAKS DR | $298,900 | 2,166 | 5/31/2006 |
| 2432 ROYAL OAKS DR | $230,000 | 1,884 | 5/19/2006 |
| 3919 FORSYTHE WAY | $272,000 | 1,920 | 5/15/2006 |
| 3008 BARCLAY CT | $248,100 | 1,890 | 2/22/2006 |
| 4061 CAMELOT WAY | $250,000 | 1,805 | 12/8/2005 |
| 2403 ROYAL OAKS DR | $248,000 | 1,709 | 11/14/2005 |
| 2460 ROYAL OAKS DR | $235,000 | 1,711 | 11/3/2005 |
| 4081 YARDLEY CIR | $199,000 | 1,522 | 10/28/2005 |
| 2814 CHUMLEIGH CIR | $235,000 | 2,008 | 8/31/2005 |
| 4108 YARDLEY CIR | $227,000 | 1,620 | 8/31/2005 |
| 3844 FORSYTHE WAY | $290,000 | 2,097 | 8/26/2005 |
| 2811 ROYAL OAKS DR | $313,500 | 2,789 | 8/5/2005 |
| 3017 BARCLAY CT | $83,500 | 1,887 | 7/19/2005 |
| 2953 ROYAL OAKS DR | $275,000 | 2,240 | 7/18/2005 |
| 2572 CHUMLEIGH CIR | $270,000 | 1,920 | 6/24/2005 |
| 3965 ROYAL OAKS DR | $246,000 | 2,116 | 5/31/2005 |
| 2756 ROYAL OAKS DR | $245,600 | 2,213 | 3/15/2005 |
| 2999 BARCLAY CT | $248,400 | 2,263 | 1/7/2005 |
| 4000 CAMELOT WAY | $175,000 | 1,856 | 1/6/2005 |
| 2814 CHUMLEIGH CIR | $204,000 | 2,008 | 12/22/2004 |
| 4144 YARDLEY CIR | $240,000 | 2,056 | 12/22/2004 |
| 2634 ROYAL OAKS DR | $169,900 | 1,503 | 12/15/2004 |
| 3011 BARCLAY CT | $224,900 | 2,009 | 11/1/2004 |
| 3911 FORSYTHE WAY | $230,000 | 2,221 | 10/28/2004 |
| $224,900 | 2,039 | 10/27/2004 | |
| 2999 BARCLAY CT | $234,900 | 2,263 | 10/8/2004 |
| 3910 ROYAL OAKS DR | $249,900 | 2,166 | 9/28/2004 |
| 3910 ROYAL OAKS DR | $249,900 | 2,166 | 9/9/2004 |
| 2404 ROYAL OAKS DR | $205,000 | 1,845 | 8/24/2004 |
| 2403 ROYAL OAKS DR | $210,500 | 1,709 | 8/19/2004 |
| 2935 ROYAL OAKS DR | $190,000 | 1,624 | 8/9/2004 |
| 2431 ROYAL OAKS DR | $200,000 | 1,502 | 8/5/2004 |
| 4090 CAMELOT WAY | $155,000 | 1,808 | 7/30/2004 |
| 4054 CAMELOT WAY | $145,000 | 1,521 | 7/20/2004 |
| 3905 ROYAL OAKS CT | $219,900 | 2,660 | 7/15/2004 |
| 3824 FORSYTHE WAY | $229,900 | 1,963 | 6/25/2004 |
| 2774 ROYAL OAKS DR | $210,000 | 1,953 | 6/2/2004 |
| 3923 ROYAL OAKS DR | $219,000 | 2,208 | 4/2/2004 |
| 2684 CHUMLEIGH CIR | $199,900 | 2,174 | 3/26/2004 |
| 2544 CHUMLEIGH CIR | $100,000 | 1,711 | 2/27/2004 |
| 3844 FORSYTHE WAY | $206,600 | 2,097 | 2/27/2004 |
| 2865 ROYAL OAKS DR | $189,000 | 1,880 | 12/29/2003 |
| 4000 CAMELOT WAY | $159,900 | 1,856 | 10/27/2003 |
| 2901 BREY CT | $176,000 | 1,760 | 10/8/2003 |
| 2488 ROYAL OAKS DR | $186,000 | 1,764 | 10/3/2003 |
| 2898 ROYAL OAKS DR | $226,000 | 2,279 | 9/29/2003 |
| 3966 ROYAL OAKS DR | $242,900 | 2,390 | 9/17/2003 |
| 2487 ROYAL OAKS DR | $169,900 | 1,851 | 9/16/2003 |
| 3950 ROYAL OAKS DR | $201,000 | 1,983 | 8/15/2003 |
| 4019 YARDLEY CIR | $164,900 | 1,766 | 8/13/2003 |
| 2431 ROYAL OAKS DR | $165,000 | 1,502 | 7/30/2003 |
| 2571 CHUMLEIGH CIR | $164,900 | 1,722 | 7/7/2003 |
| 4090 YARDLEY CIR | $155,900 | 1,564 | 6/5/2003 |
| 3904 FORSYTHE WAY | $178,500 | 2,070 | 5/29/2003 |
| 3927 FORSYTHE WAY | $178,000 | 2,111 | 3/31/2003 |
| 2739 ROYAL OAKS DR | $169,000 | 1,977 | 3/6/2003 |
| 2627 CHUMLEIGH CIR | $165,000 | 1,700 | 12/2/2002 |
| 2984 BARCLAY CT | $156,000 | 1,994 | 10/9/2002 |
| 3011 BARCLAY CT | $174,900 | 2,009 | 8/15/2002 |
| 2711 CHUMLEIGH CIR | $150,000 | 2,061 | 7/31/2002 |
| 2829 ROYAL OAKS DR | $187,000 | 2,520 | 7/29/2002 |
| 4000 FORSYTHE WAY | $154,000 | 1,850 | 7/15/2002 |
| 3805 FORSYTHE WAY | $172,900 | 2,148 | 6/26/2002 |
| 3911 FORSYTHE WAY | $163,000 | 2,221 | 6/14/2002 |
| 2935 ROYAL OAKS DR | $144,300 | 1,624 | 6/12/2002 |
| 3922 ROYAL OAKS DR | $166,500 | 1,976 | 6/10/2002 |
| 3968 ROYAL OAKS DR | $172,900 | 2,018 | 5/31/2002 |
| 2432 ROYAL OAKS DR | $149,000 | 1,884 | 5/3/2002 |
| 3825 FORSYTHE WAY | $165,100 | 2,126 | 4/2/2002 |
| 2562 ROYAL OAKS DR | $200,000 | 2,698 | 3/28/2002 |
| 2628 CHUMLEIGH CIR | $167,500 | 1,522 | 3/27/2002 |
| 2905 BREY CT | $154,000 | 2,019 | 2/5/2002 |
| 4577 BARCLAY LN | $155,900 | 1,664 | 1/30/2002 |
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Joe Manausa is a real estate blogger, a real estate investor and the Broker and Co-Owner of Century 21 First Realty. 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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