Home Sales In The Glen At Golden Eagle
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I was doing some research last week and ended up compiling some interesting information from both the Leon County Tax Appraisers site, as well as the Tallahassee Board of REALTORS® Multiple Listing Service (MLS). The Tallahassee neighborhood that I had researched was the Glen At Golden Eagle, and my findings were not that surprising, especially if you are a regular reader of the Tallahassee Real Estate Blog.
Home Prices Dropping In The Glen At Golden Eagle
The first thing that catches the eye when one looks at the real estate graph below is that homes in the Glen At Golden Eagle have depreciated 19% since the top of the market in 2006! While that certainly is not good news, one should also observe that homes have appreciated 34% since 2001.
Homes For Sale In The Glen At Golden Eagle
The Tallahassee MLS holds information that allows us to conduct a supply and demand analysis of the homes for sale in the Glen At Golden Eagle. The Glen is doing slightly better than average with 12 months of supply of homes, but a key concern is that there have been nearly twice as many “failed to sell” homes in the past 12 months as there have been sales.
When homes fail to sell, they either re-enter the market as new listings, or they become what we refer to as “shadow inventory.” This shadow inventory is the mass of homes that will be entering the market when market conditions become more favorable. So even as we see inventories decline, if the causation is “failures” rather than sales, we must be concerned that inventory levels are not truly dropping.
Historic Home Sales In The Glen At Golden Eagle
| Parcel Address | Price | SqFt HC | Sale Date |
| 2368 HEATHROW DR | $173,500 | 1,534 | 3/27/2009 |
| 2382 HEATHROW DR | $173,500 | 1,502 | 3/27/2009 |
| 2136 HEATHROW DR | $162,500 | 1,472 | 2/17/2009 |
| 9154 STONEHENGE TRL | $157,800 | 1,314 | 2/2/2009 |
| 2312 HEATHROW DR | $182,500 | 1,472 | 1/14/2009 |
| 2047 SUNNY DALE DR | $213,900 | 1,720 | 1/9/2009 |
| 2424 HEATHROW DR | $258,000 | 1,980 | 12/23/2008 |
| 9138 STONEHENGE TRL | $156,000 | 1,239 | 12/10/2008 |
| 9426 WINDAM WAY | $221,000 | 1,954 | 8/14/2008 |
| 1779 NEWMAN LN | $175,000 | 1,771 | 7/31/2008 |
| 1771 NEWMAN LN | $205,000 | 1,503 | 7/7/2008 |
| 9305 TUSCANY DR | $199,900 | 1,541 | 6/27/2008 |
| 1775 NEWMAN LN | $210,000 | 1,632 | 6/2/2008 |
| 9091 STONEHENGE TRL | $189,900 | 1,301 | 5/16/2008 |
| 1805 NEWMAN LN | $247,000 | 1,737 | 5/15/2008 |
| 9318 TUSCANY DR | $279,500 | 1,701 | 5/9/2008 |
| 9305 TUSCANY DR | $200,000 | 1,541 | 5/2/2008 |
| 1822 NEWMAN LN | $193,800 | 1,501 | 3/27/2008 |
| 9150 STONEHENGE TRL | $205,000 | 1,466 | 2/28/2008 |
| 1991 SUNNY DALE DR | $236,000 | 1,925 | 1/16/2008 |
| 9402 WINDAM WAY | $245,000 | 1,938 | 1/16/2008 |
| 2214 HEATHROW DR | $225,000 | 2,022 | 1/15/2008 |
| 1794 NEWMAN LN | $221,500 | 1,492 | 12/20/2007 |
| 2120 HEATHROW DR | $174,000 | 1,261 | 12/13/2007 |
| 2041 ASCOT WAY | $208,000 | 1,448 | 11/23/2007 |
| 9317 ROYAL TROON DR | $230,000 | 1,786 | 10/22/2007 |
| 1851 NEWMAN LN | $210,000 | 1,504 | 9/25/2007 |
| 2025 ASCOT WAY | $224,000 | 1,658 | 8/24/2007 |
| 2424 HEATHROW DR | $275,000 | 1,980 | 7/30/2007 |
| 2325 HEATHROW DR | $231,200 | 1,590 | 7/27/2007 |
| 2029 ASCOT WAY | $185,000 | 1,261 | 6/28/2007 |
| 1831 NEWMAN LN | $210,000 | 1,486 | 3/23/2007 |
| 1991 SUNNY DALE DR | $277,500 | 1,925 | 3/7/2007 |
| 2620 HEATHROW DR | $215,000 | 1,412 | 3/5/2007 |
| 9406 WINDAM WAY | $279,000 | 2,020 | 2/22/2007 |
| 1802 NEWMAN LN | $196,000 | 1,322 | 1/23/2007 |
| 9121 STONEHENGE TRL | $187,000 | 1,304 | 1/19/2007 |
| 2128 HEATHROW DR | $217,000 | 1,467 | 1/10/2007 |
| 1767 NEWMAN LN | $230,000 | 1,473 | 12/5/2006 |
| 2011 SUNNY DALE DR | $242,500 | 1,456 | 10/27/2006 |
| 9330 TUSCANY DR | $239,000 | 1,667 | 10/17/2006 |
| 9318 TUSCANY DR | $289,000 | 1,699 | 9/26/2006 |
| 9329 TUSCANY DR | $196,500 | 1,350 | 9/13/2006 |
| 1985 SUNNY DALE DR | $250,000 | 1,709 | 8/28/2006 |
| 1854 NEWMAN LN | $212,000 | 1,281 | 7/11/2006 |
| 1782 NEWMAN LN | $222,000 | 1,492 | 6/30/2006 |
| 9332 ROYAL TROON DR | $251,000 | 1,712 | 6/13/2006 |
| 2536 HEATHROW DR | $239,000 | 1,472 | 6/9/2006 |
| 1866 NEWMAN LN | $193,500 | 1,282 | 5/31/2006 |
| 2466 HEATHROW DR | $248,000 | 1,504 | 5/31/2006 |
| 9316 ROYAL TROON DR | $248,900 | 1,699 | 5/26/2006 |
| 9321 TUSCANY DR | $238,000 | 1,694 | 5/17/2006 |
| 9134 STONEHENGE TRL | $239,900 | 1,626 | 5/16/2006 |
| 9426 WINDAM WAY | $280,000 | 1,954 | 4/25/2006 |
| 1995 SUNNY DALE DR | $270,000 | 1,938 | 4/21/2006 |
| 1826 NEWMAN LN | $210,900 | 1,350 | 4/20/2006 |
| 9321 ROYAL TROON DR | $265,400 | 1,938 | 4/14/2006 |
| 9133 STONEHENGE TRL | $200,000 | 1,289 | 4/11/2006 |
| 9336 ROYAL TROON DR | $248,900 | 1,699 | 3/22/2006 |
| 9142 STONEHENGE TRL | $225,000 | 1,433 | 3/17/2006 |
| 1805 NEWMAN LN | $273,000 | 2/28/2006 | |
| 9334 TUSCANY DR | $275,000 | 2/28/2006 | |
| 2494 HEATHROW DR | $272,900 | 1,938 | 2/24/2006 |
| 9344 ROYAL TROON DR | $246,900 | 1,708 | 1/31/2006 |
| 1985 SUNNY DALE DR | $237,000 | 1,709 | 1/13/2006 |
| 9313 ROYAL TROON DR | $235,000 | 1,669 | 1/10/2006 |
| 2283 HEATHROW DR | $220,000 | 1,380 | 12/28/2005 |
| 2120 HEATHROW DR | $197,900 | 1,261 | 12/19/2005 |
| 1759 NEWMAN LN | $207,000 | 1,374 | 11/3/2005 |
| 1755 NEWMAN LN | $209,900 | 1,363 | 10/31/2005 |
| 1774 NEWMAN LN | $175,000 | 1,214 | 10/28/2005 |
| 9324 ROYAL TROON DR | $234,900 | 1,708 | 10/21/2005 |
| 2256 HEATHROW DR | $254,000 | 1,387 | 10/6/2005 |
| 9306 TUSCANY DR | $208,000 | 1,472 | 9/23/2005 |
| 9345 TUSCANY DR | $265,000 | 1,938 | 9/23/2005 |
| 2200 HEATHROW DR | $239,900 | 1,688 | 9/13/2005 |
| 1806 NEWMAN LN | $225,000 | 1,622 | 8/31/2005 |
| 9310 TUSCANY DR | $256,000 | 1,938 | 8/30/2005 |
| 2354 HEATHROW DR | $209,900 | 1,406 | 8/18/2005 |
| 1767 NEWMAN LN | $219,000 | 1,473 | 7/28/2005 |
| 1766 NEWMAN LN | $215,000 | 1,690 | 7/27/2005 |
| 2620 HEATHROW DR | $199,800 | 1,412 | 7/21/2005 |
| 2029 ASCOT WAY | $179,000 | 1,261 | 7/20/2005 |
| 9317 TUSCANY DR | $252,000 | 1,977 | 7/20/2005 |
| 9095 STONEHENGE TRL | $182,500 | 1,388 | 7/8/2005 |
| 2535 HEATHROW DR | $210,000 | 1,472 | 6/30/2005 |
| 2550 HEATHROW DR | $222,900 | 1,522 | 6/28/2005 |
| 9410 WINDAM WAY | $233,000 | 1,950 | 6/15/2005 |
| 1798 NEWMAN LN | $175,000 | 1,363 | 6/10/2005 |
| 2536 HEATHROW DR | $196,200 | 1,472 | 6/9/2005 |
| 2140 HEATHROW DR | $192,000 | 1,544 | 6/8/2005 |
| 2037 ASCOT WAY | $208,000 | 1,630 | 5/27/2005 |
| 2396 HEATHROW DR | $225,000 | 1,729 | 5/27/2005 |
| 1975 SUNNY DALE DR | $224,000 | 1,801 | 5/13/2005 |
| 1814 NEWMAN LN | $191,000 | 1,449 | 5/2/2005 |
| 1810 NEWMAN LN | $199,900 | 1,502 | 4/26/2005 |
| 9162 STONEHENGE TRL | $174,000 | 1,272 | 4/15/2005 |
| 1979 SUNNY DALE DR | $216,800 | 1,638 | 4/15/2005 |
| 9401 WINDAM WAY | $185,000 | 1,406 | 4/11/2005 |
| 9421 WINDAM WAY | $189,900 | 1,558 | 3/31/2005 |
| 1813 NEWMAN LN | $168,900 | 1,214 | 3/21/2005 |
| 9117 STONEHENGE TRL | $189,900 | 1,535 | 3/18/2005 |
| 1991 SUNNY DALE DR | $224,000 | 1,925 | 3/16/2005 |
| 2452 HEATHROW DR | $190,100 | 1,350 | 2/28/2005 |
| 9298 TUSCANY DR | $191,900 | 1,350 | 2/28/2005 |
| 1775 NEWMAN LN | $200,000 | 1,632 | 2/18/2005 |
| 2033 ASCOT WAY | $171,100 | 1,368 | 2/8/2005 |
| 2007 SUNNY DALE DR | $184,700 | 1,502 | 1/31/2005 |
| 2466 HEATHROW DR | $198,900 | 1,504 | 1/31/2005 |
| 1859 NEWMAN LN | $175,000 | 1,506 | 1/28/2005 |
| 9332 ROYAL TROON DR | $208,000 | 1,712 | 1/28/2005 |
| 1809 NEWMAN LN | $149,700 | 1,232 | 1/25/2005 |
| 1862 NEWMAN LN | $175,100 | 1,496 | 1/19/2005 |
| 9305 TUSCANY DR | $198,900 | 1,541 | 1/19/2005 |
| 9320 ROYAL TROON DR | $222,500 | 1,938 | 1/10/2005 |
| 9330 TUSCANY DR | $209,800 | 1,667 | 1/8/2005 |
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Discussion
Joe,
Whats your prediction for Golden Eagle at year end for average square foot of houses sold? Will it go back to 2002 levels? These square footage prices for resales are very bad news for new home construction. Not sure how new construction can compete with solid resale subdivisions at these prices.
Doug
Hey Doug, this article was on the Glen At Golden Eagle. Is this what you meant for your question?
yes.....
Hey Doug,
Clearly, the market is still heading lower. How much, who's to say. There are too many variables, but most important of all is what current homeowners choose to do. If more homes are sold in bulk, you will see much faster depreciation than if only the owner occupants sell their homes. I would recommend a very detailed market analysis should anybody decide to sell their home in the Glen At Golden Eagle (or anywhere in Tallahassee for that matter). My reports are overviews of the market, each home has to be specifically priced for its features and amenities.
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