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32311 Home Sales Struggle With Falling Demand

I was reviewing 32311 home sales this morning for a client who wants to sell a home. She asked if I would prepare a zip code report like the recent ones for 32308, 32309, and 32312. Additionally, she asked me what she should expect in terms of value and time to sell.

The good news is that there are plenty of 32311 home sales happening, so we have the real estate liquidity required to give her an accurate assessment of her home value. Currently, there are 251 homes for sale in the 32311 zip code.

Additionally, due to the nature of the current market trends, we told her to expect a contract within the first two weeks (more on that later).

But home value trends are another story altogether.

The real estate graph above shows that 32311 home sales are exhibiting the same size trends as the rest of the Tallahassee real estate market. Buyers are choosing larger homes today than they have in the past.

32311 Home Prices

The average 32311 home price has stayed fairly consistent since 2008, hovering very close to $200,000.

32311 Home Prices

32311 Home Values

Home values continue to slide in the 32311 zip code, and the primary reason relates to supply and demand. Even as demand for homes in Tallahassee was falling over the past five years, there has been no shortage of new construction of homes in this Southeast Tallahassee area.

32311 Home Values

Non Arms Length 32311 Home Sales

This next graph is the one that should cause you concern if you need to sell a home in the 32311 zip code in the next few years. As you can see, more than a third of all 32311 home sales have been distressed sales (short sales, foreclosures, etc.) this year, and the trend is rising.

YTD 32311 Home Sales

So, why did I tell my homeowner that she should plan to sell her 32311 home in two weeks or sooner? The answer is painful, but simple. There are enough buyers registered on our site looking and buying homes in the 32311 zip code to know that she can sell it right away.

But looking at the graph above, we can see that demand in the 32311 is at at 10+ year low and 32311 home values are falling. The longer she takes, the less she should expect to yield upon a sale. It's in her best interest to market the home aggressively and to sell it fast.

Recent 32311 Home Sales

Neighborhood Address SP Price/ SQF Closing Date Year Built SQF
None 1328 Idlewild Drive $75,000 $55 10/12/2012 1953 1,352
Southwood 3154 Buckhead Trace $285,000 $127 10/12/2012 2002 2,237
Southwood 3582 Strolling Way $330,360 $154 10/10/2012 2012 2,144
Sierra Woods Gardens 4204 Sierra Woods Trail $266,926 $124 10/5/2012 2012 2,145
Woodrun Garden Homes 2554 Chateau Lane $44,900 $44 10/5/2012 1998 1,025
Augustine Prop Unrec 8749 Cabin Hill Road $135,000 $69 10/4/2012 1973 1,947
Southwood 3782 Piney Grove Dr $420,000 $138 10/2/2012 2002 3,054
Timber Lake 4123 Stag Run Court $124,900 $102 10/1/2012 1993 1,228
Piney Z 1021 Landings Loop Loop $156,000 $101 9/28/2012 2001 1,551
Piney Z 926 Piney Z Plantation Rd. $235,000 $101 9/28/2012 2006 2,327
Piney Z 915 Park View Dr $210,000 $103 9/28/2012 2001 2,045
Bosque De Augustine 4003 Calle De Santos $132,734 $91 9/28/2012 1994 1,452
Southwood 4270 Avon Park Cir $148,000 $100 9/28/2012 2004 1,483
Southwood 3575 Strolling Way $277,298 $146 9/28/2012 2012 1,904
Timber Lake 4165 Laurel Oak Circle $75,000 $60 9/27/2012 1994 1,254
Southwood 3068 DickinsonDrive $375,000 $144 9/27/2012 2012 2,600
Southwood 3256 Whitman Way $268,000 $113 9/27/2012 2005 2,368
Southwood 3249 Carollton Dr $355,000 $138 9/24/2012 2006 2,574
Hampton Creek 5519 Hampton Woods Way $137,000 $98 9/21/2012 2005 1,402
Southwood 3159 Nathaniel Trace $309,900 $146 9/21/2012 2012 2,124
Timber Lake 1541 Cinnamon Bear Cir $77,000 $64 9/21/2012 1987 1,210
Southwood 2120 Sunlight Terrace $287,500 $120 9/21/2012 2007 2,403
Southwood 3243 Carollton Drive $455,000 $114 9/21/2012 2006 4,002
Thunder Hill 8365 Caplock Road $177,008 $100 9/19/2012 1989 1,774
Southwood 3021 Four Oaks Blvd $302,900 $132 9/19/2012 2011 2,288
Apalachee Hills 1621 QuazarRoad $70,000 $60 9/14/2012 2006 1,173
Southwood 4036 Shady View $224,900 $115 9/12/2012 2004 1,953
Southwood 3709 RivertonTrail $225,000 $113 9/10/2012 2006 1,993
Piney Z 900 Park View Drive $228,000 $116 9/6/2012 2002 1,962
Apalachee East 4116 Old Plantation Loop $172,500 $112 8/31/2012 2008 1,540
Apalachee East 4108 Old Plantation Loop $164,000 $106 8/31/2012 2008 1,540
Hampton Creek 5510 Hampton Woods Way $140,000 $99 8/31/2012 2005 1,418
Piney Z 1167 Landings Loop $157,000 $106 8/31/2012 2002 1,476
Southwood 3756 OverlookDrive $398,000 $123 8/31/2012 2012 3,236
Timber Lake 4177 Laurel Oak Circle $63,000 $49 8/31/2012 1990 1,280
Meadows At Woodrun 8817 Pembroke Ct N $87,500 $71 8/31/2012 1980 1,234
Hampton Creek 5518 Hampton Oak Place $119,900 $103 8/30/2012 2007 1,160
Meadows At Woodrun 2012 LohmanCourt $62,000 $53 8/30/2012 1981 1,171
Southwood 4010 S Blair Stone Road $175,002 $99 8/30/2012 2005 1,760
Timber Lake 1495 Grey Fox Run $63,000 $52 8/30/2012 1995 1,203
Southwood 4078 Four Oaks Boulevard $165,000 $108 8/29/2012 2007 1,521
Louvenia Lakes 6831 Skyrock Ln $175,000 $94 8/29/2012 1994 1,855
Southwood 3249 Thoreau Avenue $292,500 $124 8/27/2012 2005 2,368
Hampton Creek 5502 Hampton Oak Pl $115,000 $99 8/24/2012 2006 1,160
Hampton Creek 2901 Hampton Meadow Drive $144,990 $118 8/24/2012 2012 1,228
Southwood 3741 Esplanade Way $215,000 $121 8/24/2012 2003 1,782
Southwood 3174 Coneflower $180,700 $109 8/24/2012 2009 1,656
Pine Meadows 3507 Blue Spruce Court $145,000 $89 8/23/2012 1995 1,624
Hampton Creek 2903 Hampton Meadow $150,000 $122 8/22/2012 2012 1,228
Southwood 3192 Nathaniel Trace $314,900 $157 8/20/2012 2012 2,007
Southwood 3156 Nathaniel Trce $269,900 $149 8/17/2012 2011 1,809
Southwood 3222 Salinger Way $319,900 $124 8/17/2012 2005 2,580
Southwood 2492 Lantana Lane $255,400 $106 8/16/2012 2007 2,402
Timber Run 5749 Dayflower Circle $134,000 $79 8/10/2012 2000 1,695
Golden Pheasant 2289 Upland Way $282,000 $99 8/10/2012 2005 2,861
Southwood 3987 Four Oaks Blvd $150,000 $101 8/10/2012 2001 1,483
Southwood 3252 Whitman Way $320,000 $116 8/10/2012 2005 2,764
Hampton Creek 5569 Hampton Hill Circle $140,000 $89 8/10/2012 2006 1,571
Piney Z 1120 Winter Lane $175,000 $97 8/9/2012 2005 1,795
Piney Z 1039 Landings Loop $150,000 $109 8/9/2012 2001 1,374
Piney Z 1132 Landings Loop $165,000 $109 8/7/2012 2002 1,514
Connell Prop Unrec 5871 Connell Ct. $190,000 $112 8/3/2012 2006 1,690
Chase's Ridge 3928 Paces Court $90,000 $89 8/3/2012 1991 1,008
Piney Z 1041 Piney Z PlantationRoad $165,000 $116 8/3/2012 2000 1,428
Woodrun East 8127 Talley Ann Drive $136,000 $107 8/1/2012 1995 1,272
Southwood 4275 Raleigh Way $203,000 $98 7/31/2012 2006 2,067
Southwood 3005 Dickinson Drive $225,000 $126 7/31/2012 2005 1,782
Hampton Creek 5038 Hampton RidgeAvenue $134,900 $121 7/31/2012 2011 1,114
Southwood 4235 Raleigh Way $200,000 $139 7/31/2012 2006 1,444
Timber Lake 4066 Cottage Wood Trail $120,000 $91 7/29/2012 1987 1,314
Piney Z 1001 High Meadow Drive $180,000 $94 7/29/2012 1999 1,919
Meadows At Woodrun 2349 Windermere Rd $75,000 $69 7/27/2012 1982 1,092
Southwood 3751 Overlook Dr $365,000 $134 7/27/2012 2003 2,726
Southwood 3809 Piney Grove Drive $262,000 $116 7/27/2012 2003 2,250
Southwood 3163 Nathaniel Trace $302,404 $151 7/20/2012 2012 2,007
Southwood 3171 Mulberry Park Blvd. $155,000 $89 7/13/2012 2002 1,744
Southwood 2471 Goldenrod Way $250,000 $135 7/13/2012 2012 1,850
Pebble Brooke 670 Brooke Hampton Drive $102,500 $92 7/12/2012 2007 1,114
Hampton Creek 5500 Hampton Oak Pl $119,000 $103 7/9/2012 2006 1,160
Piney Z 1076 Kingdom Drive $134,000 $98 7/6/2012 2003 1,367
Hampton Creek 5040 Hampton Ridge Avenue $134,900 $121 7/2/2012 2011 1,114
Rockbrook 1057 Longstreet Drive $32,900 $24 6/29/2012 1978 1,350
Southwood 4032 Shady ViewLane $248,000 $122 6/29/2012 2004 2,027
Southwood 3608 Biltmore Avenue $175,000 $107 6/27/2012 2006 1,633
Piney Z 4724 Plantation View $224,900 $98 6/27/2012 2006 2,304
Piney Z 4869 Planters Ridge Drive $196,500 $111 6/27/2012 2000 1,768
Piney Z 1209 Landings Loop $147,000 $101 6/27/2012 2002 1,461
Southwood 3910 Shumard Oak $155,000 $102 6/25/2012 2010 1,521
Southwood 3008 Dickinson Drive $380,000 $103 6/25/2012 2007 3,691
Piney Z 860 Eagle View Dr. $192,000 $95 6/22/2012 2003 2,017
Pebble Brooke 484 Brooke Hampton Way $115,000 $78 6/22/2012 2008 1,479
Augustine Prop Unrec 8490 Cabin Hill Road $271,000 $83 6/22/2012 1973 3,262
Southwood 3246 Belle Meade Trail $385,000 $107 6/20/2012 2007 3,612
The Meadows 3815 Ulmer Court $74,500 $48 6/19/2012 1995 1,538
Southwood 3254 Stanhope Drive $223,000 $99 6/18/2012 2003 2,250
Piney Z 4778 Planters Ridge Drive $148,500 $92 6/15/2012 2002 1,615
Southwood 4024 Colleton Court $118,000 $89 6/14/2012 2003 1,324
Piney Z 1080 Piney Z Plantation $155,000 $86 6/13/2012 2001 1,808
Louvinia Woods 6317 Carpenters Lane $159,900 $86 6/13/2012 1983 1,853
Southwood 4290 Park Crossing Trl $125,000 $83 6/11/2012 2005 1,511
Southwood 4260 Summertree Dr $220,000 $110 6/8/2012 2006 1,997
Apalachee Hills 1617 QuazarRoad $68,900 $59 6/6/2012 2006 1,173
Piney Z 1126 High Meadow Drive $164,000 $112 6/4/2012 2003 1,469
Southwood 3690 Biltmore Avenue $175,000 $110 6/1/2012 2005 1,584

I hope you gained some understanding of 32311 home values from this report, please check back with us for updates and other Tallahassee neighborhood reports.

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