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Distressed Homes Gaining Market Share In Tallahassee

The percentage of closed home sales in Tallahassee that come from distressed homes (foreclosures, short sales, and bank owned properties) is on the rise. Currently, the one-year trend of closed home sales shows that 1 in every 3 properties sold was a distressed home sale.

If you missed our recent post on short sales in Tallahassee, you should check out the graphic that articulates the five phases of a short sale and why short sales are the dominant force in our market today.

When we look at the list of distressed homes for sale in Tallahassee, we can find 655 properties to view, which is over 26% of the current inventory of homes in the Tallahassee MLS. The real estate graph below shows closed home sales in Tallahassee, with the green area representing arms length sales, and the red area measuring distressed home sales. The red line is the one year trend of the percentage of distressed properties compared to the entire market.

Distressed Home Sales

This graph vividly depicts the rise of distressed properties and home sellers must understand that one in every 3 of the properties with which they are competing for a buyer are in an urgent, must sell situation. This is driving down home values and is likely to continue for several years. If you find yourself in a position of needing to sell a home in Tallahassee, price it correctly, use an aggressive home selling plan, and sell it fast.

Sadly, as values fall, a greater percentage of home sellers are going to be under water, thus ensuring a continuing trend of short sales and foreclosures in Tallahassee. We can expect this self-perpetuating process to continue until the market stabilizes and the supply and demand dynamic regains its balance (we have estimated in a previous article that market equilibrium will occur in 2018).

List Of Recent Distressed Home Sales In Tallahassee

Neighborhood Address SP Price/SQF Closing Date Year Built SQF
Fairview 3101 Meridian St $25,000 $29 7/1/2011 1958 856
Gwynndale 1709 Talpeco $72,500 $51 7/1/2011 1970 1,408
Burr Sub 3268 Longleaf Road $280,000 $76 6/30/2011 1953 3,679
Wolf Creek 1824 Nena Hills Drive $90,000 $52 6/30/2011 2005 1,744
Campbell Park 613 Alpha Ave $78,795 $54 6/30/2011 2006 1,464
None 11711 Evergreen Hills Court $118,000 $81 6/30/2011 2008 1,461
Buckwood 4065 Bellington Ct $116,682 $89 6/30/2011 1989 1,312
Southwood 4059 Colleton Court $144,000 $97 6/30/2011 2003 1,483
Killearn Lakes 8201 Hunters Ridge Trail $119,000 $100 6/30/2011 1988 1,196
Golden Eagle Plantation 9031 Winged Foot Dr $450,000 $124 6/30/2011 2000 3,626
Tower Oaks 5531 Tower Wood Trail $94,000 $70 6/29/2011 2002 1,338
Meadows At Woodrun 2309 Windermere Road $81,750 $76 6/29/2011 1980 1,078
Sable Chase 8416 Ivy Brook Lane $175,000 $100 6/29/2011 2004 1,745
Residences At Whispering Pines 2731 Blairstone Road $29,900 $33 6/28/2011 1972 907
Savannah Crossing 2738-2604 W Tharpe St $67,000 $55 6/28/2011 2004 1,209
Killearn Acres 6428 Bold Venture Trail $110,000 $91 6/28/2011 1984 1,207
Killearn Lakes 8377 Hunters Ridge Trail $86,000 $86 6/27/2011 1993 1,000
Woodland Drive 909 Circle Drive $340,000 $139 6/27/2011 1954 2,443
Heatherwood Estates 4262 Heatherwood Drive $125,000 $79 6/27/2011 2004 1,592
None 3620 Estate Road $60,000 $21 6/24/2011 1990 2,851
Bobbin Trace 3815 E Millers Bridge Circle $739,779 $159 6/24/2011 2003 4,660
Homestead Ridge 9370 Settler Avenue $210,000 $106 6/24/2011 2007 1,983
Camellia Gardens 3400 Old Bainbridge Road #306 $68,000 $49 6/24/2011 2004 1,386
Camelot Park 870 Kingsway Rd. $182,000 $79 6/24/2011 1978 2,300
Golden Pheasant 2259 Upland Way $280,000 $99 6/23/2011 2005 2,838
Glen Pointe 4100 Mission Trace Blvd $57,500 $55 6/21/2011 1997 1,050
Hartsfield Circle 2103 Darnell Circle $60,500 $54 6/21/2011 1977 1,112
Crown Ridge 4063 BUSTER RD $28,000 $27 6/20/2011 1999 1,056
None 1829 Woodgate Way $200,000 $89 6/20/2011 1977 2,251
Brighton Place Condos 1575 PAUL RUSSELL RD $103,000 $60 6/20/2011 2006 1,731
Meadows at Woodrun 8713 Manchester Court $80,000 $70 6/17/2011 1980 1,148
Hidden Lakes 1813 Gina DR $52,000 $43 6/16/2011 1993 1,222
CONTINENTAL OAKS 2067 CONTINENTAL Avenue $27,500 $43 6/16/2011 1983 640
Landmark 253 Briley Ct $58,000 $51 6/15/2011 2003 1,128
Forest Heights 1907 Sunset Lane $155,000 $124 6/15/2011 1974 1,252
Killearn Estates 2829 Roscommon Drive $214,500 $70 6/15/2011 1969 3,069
Talco Hills 2422 Talco Hills Drive $58,000 $57 6/14/2011 1990 1,019
Buckhead 2630 S Hannon Hill Drive $303,900 $118 6/14/2011 1999 2,567
Camellia Gardens 3400 Old Bainbridge #402 $84,900 $62 6/13/2011 2004 1,368
Valley View 1101 Colorado Street $25,000 $22 6/10/2011 1954 1,152
Timber Lake 1499 Grey Fox Run $93,465 $75 6/9/2011 1995 1,240
Villas Of Westridge 2363 SANDPIPER ST $32,000 $34 6/8/2011 1983 928
Killearn Lakes 1600 FOLKSTONE RD $114,900 $84 6/8/2011 1991 1,370
Sable Chase 1833 Acorn Ridge Trail $159,650 $108 6/8/2011 2005 1,477
Woodbriar 3309 Sawtooth Drive $65,500 $49 6/7/2011 2005 1,338
Florida A&M 222 Young Street $39,000 $28 6/6/2011 1945 1,385
Huntington Woods 2800 Faringdon Drive $87,000 $73 6/3/2011 1991 1,185
Killearn Lakes 8747 MINNOW CREEK Drive $120,000 $96 6/3/2011 1991 1,255
Southwood 4070 Colleton Court $139,900 $94 6/3/2011 2003 1,483
Bluffs At Deerpointe 6839 Walden Circle $166,000 $94 6/3/2011 1990 1,769
Villas Of Westridge 2272 SANDPIPER STREET $25,000 $27 6/2/2011 1983 928
Copper Creek 1102 Copper Creek Drive $51,000 $51 6/2/2011 1993 1,008
Wolf Creek 1954 Nena Hills Drive $66,275 $49 6/2/2011 2005 1,344
Goose Creek Meadows 171 Leah Martin Court $172,000 $90 6/2/2011 2002 1,916
Emerald Acres 8589 Marquis Street $231,000 $106 6/2/2011 2005 2,175
Northampton 5235 Outwood Mill Lane $205,500 $93 6/2/2011 1993 2,220
Seminole Manor 1529 Rankin $27,500 $38 5/31/2011 1950 726
Speed Subdivision 1406 Coleman Street $48,000 $23 5/31/2011 1962 2,116
Runnymede 2602 Hastings Drive $60,001 $47 5/31/2011 1977 1,276
Glen At Golden Eagle 1858 NEWMAN LANE $155,000 $118 5/31/2011 1998 1,319
Southwood 3570 Four Oaks  BLVD $145,000 $104 5/31/2011 2005 1,394
Stoney Creek Crossing 1204 Sandler Ridge Road $245,000 $100 5/31/2011 2004 2,438
None 735 Carr Lane $399,000 $125 5/31/2011 2007 3,200
Loma Woods 3714 LOMA FARM RD $339,900 $96 5/31/2011 2005 3,544
Meadowbrook 2509 Bluebell Place $153,100 $82 5/30/2011 1987 1,856
Copper Creek 1178 Copper Creek Drive $55,000 $53 5/27/2011 1989 1,032
Mission Manor 2917 GREENON Lane $36,000 $30 5/27/2011 1980 1,218
Woodbriar 3132 Sawtooth Drive $61,000 $46 5/27/2011 2005 1,338
Linwood Manor 2503 Helene Lane $69,000 $49 5/27/2011 1972 1,421
Westover 4533 WESLEY DR $125,000 $84 5/27/2011 1995 1,490
Southwood 2545 Twain Drive $207,000 $102 5/27/2011 2005 2,033
Killearn Estates 3900 Shamrock W $215,000 $86 5/27/2011 1977 2,493
Liberty Ridge 627 Nocatee $50,000 $74 5/26/2011 2005 672
Centre Pointe Village 1982 Mallory Square $138,000 $118 5/26/2011 1999 1,172
Woodbriar 3297 SAWTOOTH DR $62,000 $46 5/26/2011 2005 1,338
Town N Country Park 2225 Woodlawn Drive $85,000 $41 5/26/2011 1966 2,075
Southwood 2988 Verdura Point Drive $225,000 $97 5/26/2011 2002 2,308
Lakeview 1326 N Duval Street $240,000 $96 5/26/2011 2007 2,493
Northwood Unrec 3637 Ocleon Drive $94,900 $35 5/26/2011 1988 2,740
Four Points 210 RIDGE RD $17,500 $21 5/25/2011 1962 840
Mabry Manor 2616 Ridgeway Street $36,000 $30 5/25/2011 1962 1,194
Residences At Whispering Pines 2731-147 S Blairstone Road $30,000 $34 5/25/2011 1972 875
Waverly Hills 2816 Rebecca Drive $415,500 $86 5/25/2011 1965 4,807
Rockbrook Village 1093 Sutor Road $27,000 $43 5/24/2011 1983 628
Osceola Heights 2215 Pontiac Drive $57,500 $46 5/24/2011 1953 1,258
Seminole Manor 1541 Patrick Avenue $22,078 $33 5/23/2011 1950 672
Callen Woods 2704 Kennedy Drive $74,500 $61 5/23/2011 2006 1,228
Jackson Oaks 2426 Manzanita Court $76,000 $84 5/23/2011 1981 908
Westbury 2778 WESTBURY DR $118,000 $97 5/23/2011 1993 1,220
Residences At Whispering Pines 2731-119 Blairstone Rd $30,000 $29 5/20/2011 1972 1,023
Emerald Chase 3975 Emerald Chase Drive $159,500 $97 5/20/2011 1991 1,650
Lucerne At Woodlands 1414 Denholm Drive $165,000 $97 5/19/2011 1988 1,695
Longwood Estates 1262 Poplar Drive $98,000 $74 5/18/2011 2006 1,318
Camellia Gardens 3400 Old Bainbridge Road $61,000 $45 5/18/2011 2004 1,368
Golden Pheasant 6537 Cedar Chase Way $255,000 $86 5/18/2011 2005 2,955
Parkhill 4120 Tara Drive $60,500 $61 5/16/2011 1972 988
Lakewood Village 5713 Doonesbury Way $104,750 $71 5/16/2011 1980 1,479
Shaw Plantation 9012 Aspen Ct. $41,000 $26 5/16/2011 1995 1,555
None 3137 MIDDLEBROOKS Circle $550,000 $129 5/16/2011 1984 4,255
Elberta Empire 1309 Elberta Dr $55,000 $43 5/13/2011 2006 1,290
Liberty Ridge 905 Angela Drive $90,000 $44 5/13/2011 2006 2,038
Villas Of Westridge 2260 Parrot Lane $50,000 $46 5/13/2011 1991 1,088
Southwood 3258 Newberry Boulevard $158,000 $112 5/13/2011 2003 1,416
Huntington Estates 3708 Carrington Place $178,000 $81 5/13/2011 1988 2,186
Mcbride Estates 7783 McClure Drive $250,000 $82 5/13/2011 1992 3,066
Woodberry 2700 Fairmount Lane $121,250 $87 5/12/2011 2002 1,395
None 3252 Pioneer Road $170,000 $73 5/12/2011 1973 2,324
Woodbriar 3263 Sugar Berry Way $61,000 $46 5/11/2011 2005 1,338
Sawgrass Plantation 2840 Saw Palmetto LN $100,000 $76 5/10/2011 1996 1,308
Betton Hills 2233 Demeron Road $432,000 $125 5/10/2011 1994 3,458
Oak Hammock Unrec 3025 Oak Hammock Court $46,500 $46 5/9/2011 1983 1,020
None 595 Fulton Rd $225,000 $187 5/6/2011 2003 1,204
Tower Oaks 5528 Cattail Court $112,000 $84 5/6/2011 2003 1,338
Buckwood 1905 Buckwood Drive $150,000 $96 5/6/2011 1992 1,567
None 2344 Potts Road $280,000 $95 5/6/2011 2006 2,956
Callen Woods 2740 Kennedy Dr $54,300 $49 5/5/2011 2005 1,110
Ocala Heights Townhouses 2100 Continental Avenue $40,005 $43 5/5/2011 1989 928
812 Saint Michael Street Condominiums 812 St Michaels Street #3 $208,000 $92 5/5/2011 2006 2,250
Settlers Creek 3024 Fulmer Circle $130,000 $93 5/4/2011 1993 1,396
Saxon 816 W Georgia Street $23,000 $25 5/3/2011 1955 906
Chesapeake Place 2744 Tess Circle $51,000 $43 5/2/2011 2000 1,178
Southwood 4020 Colleton Court $118,000 $89 5/2/2011 2003 1,324
Hutchinson Heights 2038 Holmes Street $19,000 $18 4/29/2011 1940 1,034
Four Points 115 Ridge Road $56,690 $53 4/29/2011 1999 1,070
Bloxham Heights Unrec 1229 Stuckey Ave. $16,000 $13 4/29/2011 1952 1,200
Adams Place Condominiums 3000  S Adams Place $55,000 $44 4/29/2011 2005 1,264
Carrollwood 2051 Canewood Court $35,000 $42 4/29/2011 1984 832
Brewster Estates 2580 Panther Creek Road $51,000 $56 4/29/2011 1981 918
Richview Park 2824 Richview Park $89,000 $85 4/29/2011 1991 1,044
Cottage Grove Estates 1912 Katherine Speed Ct $50,000 $37 4/29/2011 1967 1,346
Olson Landing 2968 Olson Landing $95,000 $65 4/29/2011 2002 1,458
Carolina Oaks 438 W Carolina St $115,000 $75 4/29/2011 2005 1,524
None 1975 Shadyside Circle $49,900 $30 4/29/2011 1929 1,648
Walton Corners 6123 Cody Trail $290,000 $110 4/29/2011 2007 2,640
Pine Tip Hills 532 Moss View Way $310,000 $110 4/29/2011 2001 2,827
Seminole Manor 3943 Caldwell Dr $49,000 $60 4/28/2011 1953 816
Town N Country Park 909 Tamarack Ave $74,900 $53 4/28/2011 1977 1,407
Foxwood At Old Bainbridge 3712 Trevor Court $170,000 $84 4/28/2011 2004 2,027
Durward 510 Vinnedge Ride $250,000 $107 4/28/2011 1960 2,335
Rockbrook 3600 Pickett Court $93,000 $37 4/28/2011 1978 2,518
None 1111  N Martin Luther King Jr. Boulevard $56,500 $62 4/27/2011 1950 918
Chase's Ridge 1189 Brafforton Way $65,500 $68 4/27/2011 1990 964
Autumn Estates 5688 Rustic Drive $38,250 $34 4/27/2011 1978 1,125
Huntington Woods 3117 Huttersfield $105,050 $85 4/27/2011 1990 1,235
Lake Cassie 1792 Benado Lomas Drive $200,000 $83 4/27/2011 2004 2,417
Summerbrooke 7130 Nesters Drive $289,000 $95 4/27/2011 1995 3,027
The Village Condominiums 2306 Claremont Lane $63,000 $56 4/26/2011 1984 1,116
Hutchinson Heights 2028 Hillsborough Street $19,000 $21 4/25/2011 1959 888
Mabry Manor 2569 Mcelroy Street $53,000 $50 4/25/2011 1996 1,056
Ketcham Trust 3164 W Lakeshore Drive $230,000 $122 4/25/2011 1956 1,886
Villas Of Westridge 2390 Parrot Lane $49,000 $45 4/22/2011 1990 1,088
Savannah Crossing 2738  W Tharpe #2802 Street $67,000 $55 4/22/2011 2004 1,209
Killearn Commons 8467 Hannary Drive $143,000 $109 4/22/2011 1997 1,312
Buckwood 4349 Benchmark Trace $133,900 $98 4/22/2011 1988 1,365
Settlers Springs 2868 Teton Trail $84,760 $59 4/22/2011 1986 1,444
Bull Run 2704 Breton Ridge Dr $400,000 $121 4/22/2011 2006 3,305
Oak Ridge Place 4507 Deslin Drive $118,000 $85 4/21/2011 2006 1,394
Woodrun East 7800 Tally Ann Drive $45,000 $35 4/21/2011 1981 1,270
Sable Chase 8369 Ivy Mill Lane $165,500 $101 4/21/2011 2006 1,640
Westbury 3828 Mcfarlane Dr. $98,000 $59 4/21/2011 1994 1,656
Summerchase Condos 4434-2902 Gearhart Road $80,500 $60 4/20/2011 2006 1,344
Rattler View Condominiums 630 Rattler View Court $64,900 $53 4/19/2011 2007 1,226
Natural Bridge Road Unrec 2927 Natural Bridge Rd $30,500 $29 4/19/2011 1974 1,056
Piney Z 1073 High Meadow Drive $159,905 $103 4/19/2011 2002 1,547
Edinburgh Estates 4379 Woodbridge Road $154,000 $79 4/19/2011 1984 1,948
Southwood 4022 Blair Stone Road $169,900 $111 4/18/2011 2005 1,524
Florida A&M 1935 S Martin Luther King Jr. Blvd $117,500 $41 4/15/2011 1936 2,856
Residences At Whispering Pines 2731-85  S Blairstone Road $29,000 $28 4/15/2011 1972 1,031
Timber Lake 1479 Bent Willow Drive $92,000 $75 4/15/2011 1988 1,228
Tallahassee Highlands 2555 Eddie Road $112,000 $86 4/15/2011 2006 1,305
Belmont Road Townhouses 220-3 Belmont Road $59,100 $39 4/15/2011 1973 1,512
Lakeshore Estates 3404 Merrimac Drive $105,000 $67 4/15/2011 1979 1,562
Briar Chase 2901 Alexis  Ln $150,000 $96 4/15/2011 2005 1,570
Starview 245 Nabb Loop $200,000 $108 4/15/2011 2004 1,852
Killearn Acres 4736 Pimlico Drive $145,000 $71 4/15/2011 1984 2,042
Middlewood Unrec 2020 Middlewood Drive $520,000 $133 4/15/2011 1991 3,918
Southern Park 8492 Southern Park Drive $26,000 $29 4/14/2011 1990 912
Turkey Run Unrecorded 13227 Ring Neck Road $155,000 $102 4/14/2011 2000 1,523
Kenilwood Townhouses 2949 Shamrock N $70,000 $45 4/14/2011 1971 1,569
Forest Park 2741 Sandalwood Dr S $42,500 $39 4/13/2011 1979 1,092
Wilson Green 369 Chastain $80,500 $63 4/13/2011 2006 1,286
Wolf Creek 1945 Nena Hills Drive $84,500 $63 4/13/2011 2005 1,344
Residences At Whispering Pines 2731 Blairstone  Rd $29,900 $29 4/11/2011 1972 1,023
Apalachee Hills 1659 Quazar Road $72,000 $61 4/11/2011 2006 1,173
Brighton Place Condos 1575 Paul Russell Road $90,000 $53 4/11/2011 2006 1,705
Chemonie Crossing 7500 Creekridge Circle $486,000 $67 4/11/2011 2006 7,226
Mabry Manor 1803 Kelly Street $47,900 $50 4/8/2011 1963 962
Victory Garden Townhomes 426 Victory Garden Dr $48,000 $44 4/8/2011 1985 1,100
Apalachee Ridge 929 Kendall Drive $24,000 $19 4/8/2011 1975 1,242
Apalachee Ridge 3013 Pontiac Drive $61,250 $48 4/8/2011 1994 1,278
Westover 4408 Westover Drive $96,500 $74 4/8/2011 1996 1,308
Shadywood 5901 Bright Court $36,500 $21 4/8/2011 1983 1,718
The Timbers 787 Timberwood Circle East $85,000 $67 4/6/2011 1993 1,268
Camelot Park 302 Gawain Ln $135,000 $85 4/6/2011 2004 1,590
Crescent Hills 1517 Crescent Hills Drive $79,000 $50 4/1/2011 2006 1,580

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