Bobbin Trace, Bobbin Mill Woods, and Bobbin Brook are three popular luxury home neighborhoods located in Northeast Tallahassee.
Featuring some of the priciest homes in the Tallahassee real estate market, buyers are drawn here for the large homes on large home sites in a relatively close-in location.
Homes For Sale In Bobbin Trace, Bobbin Mill Woods, and Bobbin Brook
The following list of homes are all currently active listings in Bobbin Mill Woods, Bobbin Trace, and Bobbin Brook.
Currently, there are three homes for sale in the Bobbin neighborhoods with just one under contract, and more that have been on and off the market in recent years.
In this report, you will find updated graphs featuring average home price trends, average home value trends, and average home size trends in the three Bobbin neighborhoods and a table of all Bobbin home sales going back to 1991.
Bobbin Trace, Bobbin Mill Woods, and Bobbin Brook are just a very short drive to the private Maclay School, and are also zoned for the following Leon County public schools:
For the real estate graphs found in this report, you will find the number of closed home sales for each year (red columns, measured on the left vertical axis), and an important real estate statistic shown in blue (measured on the right vertical axis).
It is important to note that the narrative contained below is for sales through December for all previous years, but through the fourth week of August in 2017. The graphs and the closed sales table will be continuously updated into the future (meaning bookmark this page if you always want to know the current status of homes in Bobbin Trace, Bobbin Mill Woods, and Bobbin Brook).
Bobbin Mill Woods, Bobbin Trace, and Bobbin Brook Home Prices
The average home price in the Bobbins this year has been $719,000, but there is much more you need to know about this figure.
First of all, there are very few sales in the Bobbins each year, so the “average” is greatly influenced by outliers. For example, the past twenty homes that have sold in the Bobbins (going back nearly 2.5 years), there have been 16 homes sold for less than $700K and 4 homes sold above that. Only one has sold for above $1M. Buyers have made it clear that they are comfortable below $700K in the Bobbins.
Home sellers above this buyer-comfort range need to aggressively market their homes today, as rising mortgage interest rates will soon reduce the size of the buyer pool for high end homes.
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Activity in the Bobbin neighborhoods remains about the same as we have seen for the past 10+ years, and properly marketed homes are selling.
Bobbin Neighborhood Home Values
Home values have moved higher this year when compared to the average recorded in 2016.
One must remember that the same dynamic referenced above with prices also applies to values. Different home sizes plus differing levels of updating, combined with low liquidity means that the “average” of values is only useful as a relative reference. Specific values require more information from outside of the Bobbins and experience analyzing the current supply and demand dynamic for luxury homes in Tallahassee.
The seven homes sold in the Bobbin neighborhoods thus far in 2017 have an average value of $187 per square foot.
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The “Bobbins” Home Sizes
The average home size sold in the Bobbins typically falls in a range of 3,500 to 5,000 square feet, and this year is no different.
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The 7 homes sold in 2017 have averaged 3,862 square feet.
Home Sales In Bobbin Mill Woods, Bobbin Trace, and Bobbin Brook
The following list shows more than 250 home sales in the Bobbin neighborhoods going back to 1991.
This concludes our September 2017 update on home sales in Bobbin Trace, Bobbin Mill Woods, and Bobbin Brook, please feel free to drop me a note if you have questions not covered in this report.
Wanna Know Why Most Real Estate Marketing Plans Don't Work?
Because most real estate agents don't work a plan!
With roughly half the listings in the Tallahassee MLS failing to sell during their initial listing period, you have to wonder if real estate agents are lazy or if they are ignorant.
Who would you rather hire, somebody too lazy to market your home EVERY DAY, or somebody who does not realize that daily marketing is essential?
If neither of those options appeals to you, let us know by making contact with us below. We'll take it from there!
