Eastgate Shows Diverse Range Of Homeowner Market Awareness
Posted by Joe Manausa on Monday, April 23, 2012 at 8:09:51 AM
By Joe Manausa / April 23, 2012
2 Comments
Eastgate is a very popular NE Tallahassee Neighborhood with homes that sell just below the median home price point in Tallahassee.
Located just south of I-10 on Capital Circle NE, Eastgate offers super convenience and excellent home values.
Currently, there are 5 homes for sale in Eastgate, ranging in price from $139,900 to $153,500, and last year there were 11 homes sold, meaning there is less than 6 months of supply of homes on the market in Eastgate.
Eastgate Home Prices Down 39%
Eastgate home prices are down nearly 40%, but this year's numbers appear to be skewed by a higher than normal ratio of distressed properties compared to arms length home sales. As the year progresses, I would expect to see the average price move up near last year's $120,000 average.
This means the asking prices that are currently seen in Eastgate are not likely to be realized. Home sellers are currently asking for 2010 values, but buyers have other options.
Eastgate Home Values Down 37%
Home values in Eastgate once averaged $118 per square foot at the peak of the housing market, but last year values dropped to $84 per square foot, and this year we've seen that reduced to $73 per square foot thus far.
Some home sellers just don't get it.
Currently, the asking values on the homes for sale in Eastgate range from $93 per square foot up to $121 per square foot. That's right, one seller is asking more than the property would have sold for at the peak of the market, several years ago.
My advice to people who need to sell a home in Eastgate ... either price it to sell so that you get it sold fast (values are falling, right?), or take the home off the market to give buyers fewer choices.
Buyers are not stupid. They are using property search tools and getting a good idea of value, so overpriced homes are being compared to nicer homes ... meaning they are not being chosen by buyers.
Recent Home Sales In Eastgate
| Address | Sales Price | Price/SQF | Closing Date | Year Built | SQF | Type |
| 2724 Bedford Way | $113,000 | $74 | 4/5/2012 | 1974 | 1,528 | Distressed |
| 2525 Whisper Way | $100,000 | $73 | 2/15/2012 | 1977 | 1,372 | Arms Length |
| 2333 Eastgate Way | $132,000 | $104 | 12/30/2011 | 1977 | 1,270 | Arms Length |
| 2783 Raintree Circle | $135,999 | $106 | 11/30/2011 | 1976 | 1,280 | Arms Length |
| 2017 Eastgate Way | $145,000 | $106 | 10/28/2011 | 1975 | 1,365 | Arms Length |
| 3004 Eastgate Ct | $84,000 | $72 | 10/26/2011 | 1981 | 1,165 | Distressed |
| 2540 Bedford | $75,200 | $45 | 10/19/2011 | 1974 | 1,661 | Distressed |
| 2420 Ne Dundee Drive | $100,000 | $50 | 9/27/2011 | 1974 | 1,982 | Arms Length |
| 2512 Bedford Way | $161,900 | $112 | 9/13/2011 | 1974 | 1,450 | Arms Length |
| 2624 Bedford | $112,000 | $98 | 7/29/2011 | 1973 | 1,144 | Arms Length |
| 2136 Danshire | $149,900 | $106 | 7/29/2011 | 1978 | 1,418 | Arms Length |
| 2724 Bedford Way | $55,000 | $38 | 7/15/2011 | 1974 | 1,456 | Arms Length |
| 2201 Eastgate Way | $165,000 | $113 | 5/2/2011 | 1977 | 1,464 | Arms Length |
| 2748 Raintree Circle | $150,000 | $90 | 10/22/2010 | 1973 | 1,666 | Arms Length |
| 2713 Raintree Circle | $187,000 | $97 | 9/14/2010 | 1974 | 1,931 | Arms Length |
| 2817 Little Deal Road | $104,000 | $88 | 8/6/2010 | 1973 | 1,181 | Distressed |
| 2529 Lemon Lane | $149,000 | $86 | 7/28/2010 | 1974 | 1,738 | Arms Length |
| 2809 Little Deal Road | $157,000 | $120 | 6/28/2010 | 1973 | 1,304 | Arms Length |
| 2417 Dundee Dr | $162,900 | $126 | 6/25/2010 | 1974 | 1,289 | Arms Length |
| 2313 Eastgate Way | $174,500 | $119 | 6/15/2010 | 1978 | 1,464 | Arms Length |
| 3004 Greenwich Court | $159,000 | $111 | 6/14/2010 | 1979 | 1,437 | Arms Length |
| 2784 Raintree Circle | $150,000 | $127 | 4/27/2010 | 1973 | 1,183 | Arms Length |
| 2317 Eastgate Way | $165,000 | $99 | 4/5/2010 | 1978 | 1,660 | Arms Length |
| 2225 Greenwich Way | $86,000 | $67 | 4/1/2010 | 1978 | 1,290 | Distressed |
| 2212 Branbury Lane | $130,500 | $97 | 4/1/2010 | 1977 | 1,340 | Arms Length |
| 2713 Raintree Circle | $102,000 | $66 | 3/11/2010 | 1974 | 1,541 | Distressed |
| 2312 Eastgate Way | $100,000 | $64 | 12/9/2009 | 1979 | 1,573 | Arms Length |
| 2760 Raintree Circle | $173,000 | $102 | 7/14/2009 | 1975 | 1,700 | Arms Length |
| 2635 Byron Circle | $173,050 | $111 | 4/29/2009 | 1974 | 1,562 | Arms Length |
| 2608 Byron Circle | $174,500 | $116 | 4/6/2009 | 1976 | 1,498 | Arms Length |
| 2404 Dundee Drive | $140,000 | $125 | 3/27/2009 | 1974 | 1,118 | Arms Length |
| 2706 Raintree Circle | $135,500 | $86 | 2/5/2009 | 1973 | 1,580 | Arms Length |
| 2201 Eastgate Way | $140,000 | $102 | 12/5/2008 | 1977 | 1,372 | Arms Length |
| 3009 Greenwich Court | $150,000 | $97 | 11/7/2008 | 1978 | 1,552 | Arms Length |
| 3204 Shimmy Lane | $160,000 | $130 | 8/12/2008 | 1978 | 1,232 | Arms Length |
| 2632 Byron Cir | $179,900 | $115 | 8/11/2008 | 1974 | 1,559 | Arms Length |
| 2109 Wembley Way | $169,800 | $143 | 7/16/2008 | 1978 | 1,184 | Arms Length |
| 2350 Eastgate Way | $174,000 | $113 | 7/11/2008 | 1977 | 1,543 | Arms Length |
| 2640 Byron Circle | $158,150 | $144 | 6/16/2008 | 1973 | 1,100 | Arms Length |
| 2012 Eastgate Way | $170,000 | $104 | 6/11/2008 | 1976 | 1,632 | Arms Length |
| 2038 Eastgate Way | $154,600 | $95 | 5/30/2008 | 1977 | 1,622 | Arms Length |
| 2136 Danshire Drive | $189,000 | $138 | 5/29/2008 | 1978 | 1,374 | Arms Length |
| 2548 Whisper Way | $163,500 | $108 | 5/23/2008 | 1978 | 1,512 | Arms Length |
| 2213 Eastgate Way | $151,750 | $136 | 5/20/2008 | 1981 | 1,116 | Arms Length |
| 2541 Lemon Lane | $140,000 | $97 | 3/28/2008 | 1974 | 1,447 | Arms Length |
| 2005 Eastgate Way | $190,000 | $132 | 3/13/2008 | 2007 | 1,444 | Arms Length |
| 2034 Eastgate Way | $173,000 | $140 | 1/10/2008 | 1977 | 1,240 | Arms Length |
| 2528 Bedford Way | $175,000 | $114 | 12/28/2007 | 1974 | 1,537 | Arms Length |
| 2112 Lytham | $131,000 | $82 | 12/19/2007 | 1976 | 1,588 | Arms Length |
| 2763 Raintree Circle | $165,000 | $138 | 12/17/2007 | 1975 | 1,195 | Arms Length |
| 2759 Raintree Circle | $169,900 | $99 | 10/17/2007 | 1975 | 1,718 | Arms Length |
| 2042 Eastgate Way | $189,900 | $115 | 10/15/2007 | 1977 | 1,658 | Arms Length |
| 3201 Shimmy Lane | $160,000 | $108 | 9/28/2007 | 1990 | 1,480 | Arms Length |
| 2540 Bedford Way | $177,000 | $107 | 6/12/2007 | 1974 | 1,661 | Arms Length |
| 3205 Shimmy Lane | $193,500 | $141 | 4/23/2007 | 1980 | 1,374 | Arms Length |
| 2201 Wembley | $190,810 | $156 | 3/30/2007 | 1977 | 1,224 | Arms Length |
| 2221 Greenwich Way | $182,500 | $131 | 3/23/2007 | 1978 | 1,395 | Arms Length |
| 2357 Eastgate Way | $180,000 | $103 | 3/21/2007 | 1976 | 1,741 | Arms Length |
| 2301 Eastgate Way | $181,100 | $136 | 2/22/2007 | 1979 | 1,328 | Arms Length |
| 2448 Dundee | $213,000 | $137 | 10/10/2006 | 1976 | 1,550 | Arms Length |
| 2108 Eastgate Way | $177,000 | $140 | 7/28/2006 | 1980 | 1,262 | Arms Length |
| 2710 Raintree Circle | $185,000 | $128 | 6/29/2006 | 1973 | 1,448 | Arms Length |
| 2724 Bedford Way | $150,000 | $100 | 6/29/2006 | 1974 | 1,505 | Arms Length |
| 2717 Bedford Way | $205,000 | $120 | 6/12/2006 | 1976 | 1,711 | Arms Length |
| 2442 Dundee Dr | $178,000 | $81 | 6/8/2006 | 1974 | 2,196 | Arms Length |
| 2112 Wembley Way | $213,000 | $104 | 5/26/2006 | 1978 | 2,056 | Arms Length |
| 2201 Wembley Way | $175,000 | $143 | 5/19/2006 | 1977 | 1,224 | Arms Length |
| 2706 Raintree Cir | $187,500 | $119 | 5/4/2006 | 1973 | 1,580 | Arms Length |
| 2713 Raintree Circle | $189,900 | $89 | 3/22/2006 | 1074 | 2,140 | Arms Length |
| 3201 Shimmy Lane | $200,800 | $136 | 1/30/2006 | 1990 | 1,480 | Arms Length |
| 2532 Bedford Way | $173,000 | $144 | 1/27/2006 | 1975 | 1,205 | Arms Length |
| 3217 Shimmy Lane | $158,500 | $137 | 12/31/2005 | 1980 | 1,158 | Arms Length |
| 2216 Eastgate Way | $150,200 | $130 | 12/16/2005 | 1980 | 1,155 | Arms Length |
| 2220 Branbury Ln | $189,000 | $138 | 12/12/2005 | 1978 | 1,372 | Arms Length |
| 2225 Branbury | $153,000 | $122 | 9/30/2005 | 1979 | 1,253 | Arms Length |
| 2325 Ne Eastgate Way | $130,000 | $92 | 8/9/2005 | 1979 | 1,412 | Arms Length |
| 2224 Branbury | $100,000 | $66 | 7/29/2005 | 1978 | 1,516 | Arms Length |
| 2209 Branbury Lane | $157,000 | $122 | 6/17/2005 | 1980 | 1,284 | Arms Length |
| 2716 Bedford Way | $105,000 | $89 | 6/1/2005 | 1974 | 1,184 | Arms Length |
| 2760 Raintree | $163,400 | $99 | 5/25/2005 | 1976 | 1,657 | Arms Length |
| 3221 Shimmy Lane | $154,900 | $111 | 5/23/2005 | 1980 | 1,400 | Arms Length |
| 2004 Eastgate Way | $136,450 | $111 | 3/30/2005 | 1976 | 1,232 | Arms Length |
| 2652 Byron Circle | $157,500 | $119 | 3/30/2005 | 1973 | 1,328 | Arms Length |
| 2038 Eastgate Way | $158,000 | $97 | 3/7/2005 | 1977 | 1,622 | Arms Length |
| 2537 Lemon Lane | $159,900 | $93 | 1/18/2005 | 1975 | 1,728 | Arms Length |
| 2755 Raintree Circle | $163,000 | $104 | 1/14/2005 | 1975 | 1,560 | Arms Length |
| 2205 Eastgate Way | $163,800 | $108 | 12/29/2004 | 1977 | 1,513 | Arms Length |
| 2201 Eastgate Way | $154,000 | $112 | 12/22/2004 | 1977 | 1,372 | Arms Length |
| 2009 Eastgate Way | $137,000 | $76 | 11/23/2004 | 1976 | 1,806 | Arms Length |
| 3201 Shimmy Lane | $158,600 | $107 | 9/9/2004 | 1990 | 1,480 | Arms Length |
| 2540 Bedford Way | $147,000 | $88 | 8/19/2004 | 1974 | 1,666 | Arms Length |
| 2021 Eastgate Way | $141,000 | $100 | 7/31/2004 | 1975 | 1,415 | Arms Length |
| 2221 Greenwich Way | $140,001 | $114 | 6/24/2004 | 1978 | 1,228 | Arms Length |
| 2304 Dundee Ct. | $122,000 | $92 | 6/14/2004 | 1974 | 1,332 | Arms Length |
| 2717 Bedford Way | $149,000 | $84 | 6/11/2004 | 1976 | 1,777 | Arms Length |
| 2516 Whisper Way | $140,250 | $95 | 5/27/2004 | 1976 | 1,473 | Arms Length |
| 2443 Nw Dundee | $128,500 | $96 | 4/30/2004 | 1974 | 1,332 | Arms Length |
| 2109 Wembley Way | $132,000 | $111 | 4/28/2004 | 1978 | 1,184 | Arms Length |
| 2117 Danshire Drive | $128,000 | $93 | 3/22/2004 | 1974 | 1,376 | Arms Length |
| 2209 Greenwich Way | $129,900 | $105 | 3/12/2004 | 1978 | 1,242 | Arms Length |
| 3009 Greenwich Ct | $137,000 | $88 | 3/5/2004 | 1978 | 1,552 | Arms Length |
| 2736 Raintree Circle | $137,000 | $87 | 1/16/2004 | 1974 | 1,583 | Arms Length |
| 3213 Shimmy Lane | $131,700 | $88 | 1/12/2004 | 1980 | 1,502 | Arms Length |
| 2528 Whisper Way | $110,000 | $90 | 8/14/2003 | 1979 | 1,224 | Arms Length |
| 2724 Bedford Way | $111,000 | $99 | 7/25/2003 | 1974 | 1,118 | Arms Length |
| 2119 Lytham Ct | $125,000 | $86 | 5/29/2003 | 1974 | 1,457 | Arms Length |
| 3004 Greenwich Ct | $116,000 | $81 | 5/16/2003 | 1979 | 1,437 | Arms Length |
| 2513 Bedford Way | $134,800 | $69 | 3/31/2003 | 1977 | 1,954 | Arms Length |
| 2213 Greenwich Way | $137,000 | $80 | 3/28/2003 | 1978 | 1,714 | Arms Length |
| 2435 Dundee Dr | $121,000 | $75 | 2/25/2003 | 1974 | 1,604 | Arms Length |
| 898 Castletower Ln | $130,500 | $88 | 8/22/2003 | 1978 | 1,480 | Arms Length |
| 409 Merlin Way | $156,900 | $98 | 8/21/2003 | 1981 | 1,600 | Arms Length |
| 2504 Springforest Road | $156,000 | $106 | 8/20/2003 | 1996 | 1,476 | Arms Length |
| 317 Victory Garden Drive | $137,900 | $63 | 8/15/2003 | 1972 | 2,203 | Arms Length |
| 317 Victory Garden Dr. | $137,900 | $63 | 8/15/2003 | 1972 | 2,203 | Arms Length |
| 2423 Castletower Rd | $110,000 | $63 | 8/8/2003 | 1974 | 1,751 | Arms Length |
| 2921 Modred Lane | $151,500 | $91 | 7/31/2003 | 1988 | 1,659 | Arms Length |
| 514 Stonehouse Rd | $131,900 | $95 | 6/20/2003 | 1987 | 1,390 | Arms Length |
| 873 Kingsway Road | $147,700 | $93 | 6/10/2003 | 1975 | 1,588 | Arms Length |
| 942 Richardson Road | $137,500 | $89 | 5/29/2003 | 1978 | 1,545 | Arms Length |
| 983 Richardson Road | $125,000 | $85 | 5/28/2003 | 1975 | 1,464 | Arms Length |
| 2416 Hays Mill Rd | $138,900 | $82 | 4/25/2003 | 1974 | 1,688 | Arms Length |
| 419 Merlin Lane | $138,000 | $80 | 3/28/2003 | 1981 | 1,719 | Arms Length |
| 891 Kingsway Rd | $143,200 | $86 | 2/21/2003 | 1975 | 1,656 | Arms Length |
Please come back again to find more Tallahassee neighborhood reports, including updates on Eastgate.
Discussion
Hi Joe,
This is off topic, but I noticed that the Florida Realtors website says that they changed their release of local data such that:
"there is no longer a report from Florida Realtors that includes the state’s metropolitan statistical areas (MSA) data. Instead, the local Realtor associations are empowered to release their own local association data."
I was wondering if you know whether or not there will be a local Tallahassee realtor association that will continue reporting local home sales and price data that is consistent with the methodology that the Florida Board used to report for Tallahassee.
I like the data that you report, but I also always liked getting Tallahassee housing data from multiple sources.
Thanks for your continued work covering the Tallahassee market.
Hey TLH, not that I'm aware of.
But I can tell you, they used information from our MLS for their reports, warts and all. My reports have removed the duplicates (some homes are sold or listed multiple times in our MLS).
I will miss seeing how we compare with others though.
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