Buckhead Home Sales Report
Buckhead home sales have weathered the market a little better than most neighborhoods in Tallahassee. With values down 26.4% since the peak of the market, valuations have dropped similarly to the rest of the Tallahassee housing market. But unit sales today are very much consistent with the average number of sales for the past 15 years, with only marginally fewer sales.
Considering the rest of the market has seen unit sales drop significantly higher, I would say that Buckhead home sales have proven this high-end Tallahassee neighborhood to be a "better than the market" place to own a home for the past 10 years.
The real estate graph above shows that the average Buckhead home sales price has dropped from $579K in 2007 to $355K in 2010, which is nearly a 39% drop. But we don't use "average price" to determine real estate depreciation, but we can estimate it by using the change in average price per square foot.
Buckhead Home Sales Drop 26%
We can use a graph of the average price per square foot for Buckhead home sales to get a better feel for the depreciation that has occurred. The green area shows the rapid rise and subsequent fall of home values in this Northeast Tallahassee subdivision.
Building A Home In Buckhead
We often get requests for help from people who are considering having a home built for them. With interest rates at all-time lows and most builders very hungry for work, it is an optimal time to consider building. My only warning point would be to study the market and ensure there is not a an existing home for sale in Buckhead that would satisfy your needs. Most likely, existing homes will sell cheaper than newly built ones.
But if you want to build your own dream home in Tallahassee, there are a few short sale lots available that will save you money compared to the homes that were built after 2006. If you can negotiate a great value with on one of these, you most likely will be well situated when the market returns.
Short Sales In Buckhead
The following two short sale lots are situated in prime Buckhead locations, and are offered at more than a $50K discount to what they would have sold at the peak of the market.
In essence, this gives the next buyer a near $20 per square foot advantage when building compared to have doing so in 2006. When you factor this discount in with the super competitive nature of the new construction market, a wise buyer can build a home that will be well suited for resale in the coming years.
Recent Home Sales In Buckhead
| Buckhead Address | Sales Price | Size (Sqft) | Value (PPSFT) | Age | Sale Date |
|---|---|---|---|---|---|
| 2852 HANNON HILL DR | $340,000 | 2,704 | $126 | 2006 | 10/25/2010 |
| 4609 SPARROWHAWK CT | $294,000 | 2,625 | $112 | 2006 | 10/20/2010 |
| 2659 S HANNON HILL DR | $332,700 | 2,499 | $133 | 2002 | 8/2/2010 |
| 4604 SPARROWHAWK CT | $385,000 | 2,811 | $137 | 2009 | 4/29/2010 |
| 4518 HEDGEWOOD DR | $368,000 | 2,425 | $152 | 1998 | 3/26/2010 |
| 4519 HEDGEWOOD DR | $409,000 | 2,509 | $163 | 1999 | 3/26/2010 |
| 2749 W HANNON HILL DR | $385,000 | 2,537 | $152 | 2005 | 7/31/2009 |
| 4617 WHITETAIL PASS | $535,000 | 3,356 | $159 | 2005 | 7/30/2009 |
| 4618 OAKSHIRE CT | $610,000 | 4,171 | $146 | 2007 | 7/10/2009 |
| 4502 THAXTON CT | $350,000 | 2,876 | $122 | 2003 | 4/10/2009 |
| 4779 BUCKHEAD CT | $295,000 | 2,515 | $117 | 1995 | 12/23/2008 |
| 4739 BUCKHEAD CT | $500,000 | 3,393 | $147 | 2002 | 11/13/2008 |
| 4619 OAKSHIRE CT | $460,000 | 2,737 | $168 | 2006 | 7/21/2008 |
| 4615 SPARROWHAWK CT | $300,000 | 2,628 | $114 | 2008 | 7/15/2008 |
| 2630 S HANNON HILL DR | $410,000 | 2,567 | $160 | 1999 | 6/16/2008 |
| 4611 OAKSHIRE CT | $225,200 | 2,931 | $77 | 2006 | 6/16/2008 |
| 4508 RANGEWOOD DR | $510,000 | 2,930 | $174 | 2000 | 5/16/2008 |
| 4533 TIMBERLOCH DR | $495,000 | 3,119 | $159 | 2006 | 3/13/2008 |
| 2839 HANNON HILL DR | $510,000 | 3,024 | $169 | 2007 | 1/31/2008 |
| 2830 W HANNON HILL DR | $498,000 | 2,800 | $178 | 2006 | 12/14/2007 |
| 4503 THAXTON CT | $509,900 | 3,282 | $155 | 1994 | 11/21/2007 |
| 4543 HEDGEWOOD DR | $459,500 | 2,856 | $161 | 2003 | 11/9/2007 |
| 4600 FOREST RIDGE DR | $599,000 | 2,969 | $202 | 2006 | 8/24/2007 |
| 4611 OAKSHIRE CT | $525,000 | 2,931 | $179 | 2006 | 7/13/2007 |
| 4630 FOREST RIDGE DR | $599,000 | 3,153 | $190 | 2007 | 7/5/2007 |
| 4519 TIMBERLOCH DR | $490,000 | 2,732 | $179 | 1999 | 6/29/2007 |
| 2802 HANNON HILL DR | $727,000 | 3,611 | $201 | 2007 | 4/30/2007 |
| 4618 FOREST RIDGE DR | $599,000 | 3,721 | $161 | 2006 | 4/12/2007 |
| 2826 W HANNON HILL DR | $675,000 | 3,787 | $178 | 2005 | 4/6/2007 |
| 4617 FOREST RIDGE DR | $585,000 | 3,024 | $193 | 2007 | 3/15/2007 |
| 4621 SPARROWHAWK CT | $616,000 | 2,850 | $216 | 2006 | 2/28/2007 |
| 2844 W HANNON HILL DR | $644,000 | 2,808 | $229 | 2006 | 1/17/2007 |
| 4606 OAKSHIRE CT | $545,000 | 2,919 | $187 | 2006 | 12/13/2006 |
| 2760 W HANNON HILL DR | $425,700 | 2,370 | $180 | 1996 | 11/27/2006 |
| 2652 S HANNON HILL DR | $465,000 | 2,802 | $166 | 2001 | 10/27/2006 |
| 4559 HEDGEWOOD DR | $397,000 | 2,583 | $154 | 2000 | 9/29/2006 |
| 4607 OAKSHIRE CT | $530,000 | 3,001 | $177 | 2006 | 7/31/2006 |
| 4519 TIMBERLOCH DR | $465,000 | 2,732 | $170 | 1999 | 7/17/2006 |
| 4519 HEDGEWOOD DR | $410,000 | 2,509 | $163 | 1999 | 7/14/2006 |
| 2619 S HANNON HILL DR | $585,000 | 3,505 | $167 | 2002 | 6/30/2006 |
| 4527 TIMBERLOCH DR | $530,000 | 3,536 | $150 | 1999 | 6/7/2006 |
| 4571 HEDGEWOOD DR | $624,000 | 3,313 | $188 | 2006 | 5/26/2006 |
| 2834 W HANNON HILL DR | $559,000 | 2,784 | $201 | 2006 | 5/23/2006 |
| 4609 SPARROWHAWK CT | $474,000 | 2,625 | $181 | 2006 | 5/9/2006 |
| 4608 WHITETAIL PASS | $480,000 | 2,646 | $181 | 2005 | 2/28/2006 |
| 2891 N HANNON HILL DR | $443,000 | 2,896 | $153 | 1996 | 2/23/2006 |
| 4622 OAKSHIRE CT | $578,800 | 3,948 | $147 | 2006 | 2/9/2006 |
| 4620 WHITETAIL PASS | $470,200 | 2,562 | $184 | 2006 | 1/31/2006 |
| 4545 TIMBERLOCH DR | $522,000 | 3,207 | $163 | 2005 | 12/20/2005 |
| 4605 WHITETAIL PASS | $497,900 | 2,853 | $175 | 2005 | 12/20/2005 |
| 4627 SPARROWHAWK CT | $495,000 | 2,962 | $167 | 2005 | 11/8/2005 |
| 2741 W HANNON HILL DR | $400,000 | 2,718 | $147 | 1994 | 9/16/2005 |
| 4614 WHITETAIL PASS | $491,200 | 2,834 | $173 | 2005 | 7/11/2005 |
| 4550 TIMBERLOCH DR | $146,000 | 2,856 | $51 | 2007 | 6/29/2005 |
| 2643 S HANNON HILL DR | $392,500 | 2,615 | $150 | 2001 | 5/31/2005 |
| 2630 S HANNON HILL DR | $380,000 | 2,567 | $148 | 1999 | 5/11/2005 |
| 4503 THAXTON CT | $399,900 | 3,282 | $122 | 1994 | 8/30/2004 |
| 2611 S HANNON HILL DR | $395,000 | 3,027 | $130 | 2001 | 8/6/2004 |
| 4503 THAXTON CT | $116,500 | 3,282 | $35 | 1994 | 7/30/2004 |
| 2667 S HANNON HILL DR | $364,000 | 2,674 | $136 | 1998 | 7/23/2004 |
| 2888 N HANNON HILL DR | $379,900 | 2,853 | $133 | 1994 | 6/25/2004 |
| 4771 BUCKHEAD CT | $250,000 | 3,163 | $79 | 1999 | 2/12/2004 |
| 4518 HEDGEWOOD DR | $315,500 | 2,425 | $130 | 1998 | 9/25/2003 |
| 2728 W HANNON HILL DR | $324,200 | 2,525 | $128 | 1999 | 8/29/2003 |
| 4502 THAXTON CT | $357,500 | 2,876 | $124 | 2003 | 7/23/2003 |
| 2760 W HANNON HILL DR | $305,000 | 2,370 | $129 | 1996 | 7/18/2003 |
| 4512 HEDGEWOOD DR | $325,000 | 2,789 | $117 | 2001 | 7/13/2003 |
| 4770 BUCKHEAD CT | $625,000 | 4,898 | $128 | 2001 | 7/12/2003 |
| 2610 S HANNON HILL DR | $325,400 | 2,925 | $111 | 2001 | 4/30/2003 |
| 4527 TIMBERLOCH DR | $362,500 | 3,182 | $114 | 1999 | 4/25/2003 |
| 2682 S HANNON HILL DR | $344,900 | 2,824 | $122 | 1996 | 4/23/2003 |
| 4503 RANGEWOOD DR | $426,500 | 3,280 | $130 | 2002 | 3/28/2003 |
| 2651 S HANNON HILL DR | $316,000 | 2,740 | $115 | 2001 | 2/14/2003 |
| 2619 S HANNON HILL DR | $364,300 | 3,505 | $104 | 2002 | 1/10/2003 |
| 4500 THAXTON CT | $395,000 | 2,948 | $134 | 2001 | 12/5/2002 |
| 4739 BUCKHEAD CT | $352,700 | 3,393 | $104 | 2002 | 7/30/2002 |
| 4559 HEDGEWOOD DR | $288,500 | 2,583 | $112 | 2000 | 6/28/2002 |
| 2887 N HANNON HILL DR | $284,500 | 2,767 | $103 | 1995 | 5/31/2002 |
| 4507 RANGEWOOD DR | $283,000 | 2,903 | $97 | 1999 | 5/30/2002 |
| 2773 W HANNON HILL DR | $365,000 | 2,807 | $130 | 1995 | 5/10/2002 |
| 4522 TIMBERLOCH DR | $310,000 | 3,525 | $88 | 2002 | 4/25/2002 |
| 2611 S HANNON HILL DR | $298,800 | 3,027 | $99 | 2001 | 1/10/2002 |
| 4779 BUCKHEAD CT | $251,000 | 2,515 | $100 | 1995 | 1/7/2002 |
| 2652 S HANNON HILL DR | $290,700 | 2,802 | $104 | 2001 | 10/31/2001 |
| 4503 THAXTON CT | $300,000 | 3,282 | $91 | 1994 | 9/12/2001 |
| 2610 S HANNON HILL DR | $309,900 | 2,925 | $106 | 2001 | 9/7/2001 |
| 2699 S HANNON HILL DR | $265,000 | 2,584 | $103 | 1996 | 8/31/2001 |
| 4512 HEDGEWOOD DR | $295,000 | 2,789 | $106 | 2001 | 7/16/2001 |
| 2891 N HANNON HILL DR | $298,000 | 2,896 | $103 | 1996 | 7/10/2001 |
| 4518 HEDGEWOOD DR | $280,000 | 2,425 | $115 | 1998 | 6/26/2001 |
| 2643 S HANNON HILL DR | $262,500 | 2,615 | $100 | 2001 | 4/18/2001 |
| 2638 S HANNON HILL DR | $325,000 | 3,470 | $94 | 2001 | 1/25/2001 |
| 4508 RANGEWOOD DR | $291,500 | 2,930 | $99 | 2000 | 12/15/2000 |
| 4523 TIMBERLOCH DR | $275,000 | 3,570 | $77 | 2000 | 12/4/2000 |
| 2607 S HANNON HILL DR | $265,000 | 2,885 | $92 | 2000 | 8/24/2000 |
| 2736 W HANNON HILL DR | $258,000 | 2,666 | $97 | 1996 | 8/2/2000 |
| 2600 S HANNON HILL DR | $314,200 | 3,322 | $95 | 2000 | 6/27/2000 |
| 4518 HEDGEWOOD DR | $267,000 | 2,425 | $110 | 1998 | 6/5/2000 |
| 2891 N HANNON HILL DR | $210,500 | 2,896 | $73 | 1996 | 5/25/2000 |
| 2894 N HANNON HILL DR | $147,700 | 3,487 | $42 | 1994 | 4/25/2000 |
| 4542 HEDGEWOOD DR | $284,200 | 2,847 | $100 | 1999 | 12/30/1999 |
| 2618 S HANNON HILL DR | $255,000 | 2,405 | $106 | 1999 | 8/31/1999 |
| 2630 S HANNON HILL DR | $255,000 | 2,567 | $99 | 1999 | 7/27/1999 |
| 4527 HEDGEWOOD DR | $264,000 | 2,482 | $106 | 1998 | 7/9/1999 |
| 4519 HEDGEWOOD DR | $259,900 | 2,509 | $104 | 1999 | 6/25/1999 |
| 4500 HEDGEWOOD DR | $192,000 | 2,358 | $81 | 1998 | 3/31/1999 |
| 4536 HEDGEWOOD DR | $230,000 | 2,457 | $94 | 1998 | 11/20/1998 |
| 2606 HANNON HILL DRIVE SOUTH | $234,900 | 2,642 | $89 | 1998 | 10/19/1998 |
| 4518 HEDGEWOOD DR | $246,500 | 2,425 | $102 | 1998 | 7/20/1998 |
| 4527 HEDGEWOOD DR | $244,000 | 2,482 | $98 | 1998 | 7/2/1998 |
| 2894 N HANNON HILL DR | $320,000 | 3,487 | $92 | 1994 | 5/26/1998 |
| 2879 N HANNON HILL DR | $212,000 | 2,285 | $93 | 12/1/1997 | |
| 2765 W HANNON HILL DR | $265,000 | 2,763 | $96 | 11/18/1997 | |
| 2741 W HANNON HILL DR | $233,000 | 2,718 | $86 | 1994 | 7/31/1997 |
| 2736 W HANNON HILL DR | $259,000 | 2,666 | $97 | 1996 | 6/25/1997 |
| 2690 S HANNON HILL DR | $217,900 | 2,417 | $90 | 5/30/1997 | |
| 2760 W HANNON HILL DR | $239,000 | 2,370 | $101 | 1996 | 12/10/1996 |
| 2699 S HANNON HILL DR | $270,000 | 2,584 | $104 | 1996 | 11/26/1996 |
| 2698 S HANNON HILL DR | $225,000 | 2,356 | $96 | 1994 | 10/29/1996 |
| 2682 S HANNON HILL DR | $210,000 | 2,824 | $74 | 1996 | 9/25/1996 |
| 2894 N HANNON HILL DR | $320,000 | 3,487 | $92 | 1996 | 8/19/1996 |
| 2752 W HANNON HILL DR | $245,000 | 2,496 | $98 | 7/23/1996 | |
| 2887 N HANNON HILL DR | $241,500 | 2,767 | $87 | 1995 | 6/28/1996 |
| 4779 BUCKHEAD CT | $250,000 | 2,515 | $99 | 1995 | 4/30/1996 |
| 2765 W HANNON HILL DR | $265,000 | 2,763 | $96 | 3/28/1996 | |
| 2757 W HANNON HILL DR | $240,000 | 2,619 | $92 | 9/14/1995 | |
| 2752 W HANNON HILL DR | $231,900 | 2,496 | $93 | 7/15/1995 | |
| 2880 N HANNON HILL DR | $272,500 | 2,805 | $97 | 6/30/1995 | |
| 2773 W HANNON HILL DR | $269,800 | 2,807 | $96 | 1995 | 6/23/1995 |
| 2797 W HANNON HILL DR | $263,000 | 3,693 | $71 | 3/23/1995 | |
| 2888 N HANNON HILL DR | $239,900 | 2,853 | $84 | 1994 | 12/27/1994 |
| 2698 S HANNON HILL DR | $181,000 | 2,356 | $77 | 1994 | 10/24/1994 |
| 2752 HANNON HILL DR W | $224,000 | 2,496 | $90 | 1994 | 5/25/1994 |
| 2741 W HANNON HILL DR | $227,000 | 2,714 | $84 | 1994 | 5/2/1994 |
Post a Comment