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Eastgate Shows Diverse Range Of Homeowner Market Awareness

Stay or go in real estateEastgate 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.

Home Prices Eastgate Tallahassee Florida

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.

Home Values Eastgate Tallahassee FloridaMy 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

#1 By TLH Landlord at 7/11/2017 3:47 AM

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.

#2 By Joe Manausa, MBA at 7/11/2017 3:47 AM

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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