High Turnover Rate Subdivisions In Tallahassee
In preparing for our Weekly Special Housing Report which is emailed to subscribers every Monday morning, I poured through a lot of data on Tallahassee Subdivisions in order to find out which ones had the highest turnover rate. To measure the turnover rate, I divided the number of existing home sales by the total number of homes in each subdivision.
In the real estate graph below, two important statistics are measured for each Tallahassee Subdivision. On the left axis, the turnover rate is shown, while the growth rates is recorded on the right axis. The growth rate is the number of new homes sold this year, divided by the total number of homes in the subdivision as of the end of last year.
Considering that there are over 1,300 recognized subdivisions in Tallahassee, I find it surprising that only 12 had turnover rates exceeding 4% (1 in 25 homeowners moved from these neighborhoods). Additionally, this graph provides a powerful picture of "red alert" neighborhoods ... those that added to their supply of homes this year. Most likely, the established neighborhoods that are adding to inventory right now will most likely take the longest to recover to a healthy balance of supply and demand.
New and Existing Home Sales By Subdivision
| Tallahassee Subdivision | New | Resales | Total Sales |
| SOUTHWOOD | 59 | 59 | 118 |
| KILLEARN ESTATES | 0 | 88 | 88 |
| BARRINGTON PARK CONDO | 64 | 5 | 69 |
| KILLEARN LAKES | 5 | 58 | 63 |
| KILLEARN ACRES | 1 | 40 | 41 |
| BULL RUN | 28 | 11 | 39 |
| SUMMERBROOKE | 0 | 36 | 36 |
| PINEY-Z | 1 | 29 | 30 |
| GOLDEN EAGLE PLANTATION | 1 | 25 | 26 |
| WOODBRIAR | 0 | 26 | 26 |
| BETTON HILL | 0 | 26 | 26 |
| WEEMS PLANTATION | 0 | 21 | 21 |
| RIVER'S LANDING | 17 | 1 | 18 |
| MEADOWS AT WOODRUN | 0 | 18 | 18 |
| OX BOTTOM MANOR | 0 | 17 | 17 |
| HUNTINGTON WOODS | 1 | 15 | 16 |
| EASTGATE | 0 | 15 | 15 |
| INDIAN HEAD ACRES | 0 | 15 | 15 |
| CAMELOT PARK | 0 | 14 | 14 |
| GLEN AT GOLDEN EAGLE | 5 | 8 | 13 |
| BLAIRSTONE FOREST | 1 | 12 | 13 |
| PLANTATION WOODS | 0 | 13 | 13 |
| PEBBLE BROOKE | 11 | 1 | 12 |
| HAMPTON CREEK | 5 | 7 | 12 |
| VILLAGES AT WILSON GREEN | 1 | 11 | 12 |
| WOLF CREEK | 2 | 9 | 11 |
| SHANNON FOREST | 0 | 11 | 11 |
| SAGEBROOK MILL | 10 | 0 | 10 |
| VILLAS AT PINE FOREST | 9 | 1 | 10 |
| FOREST HEIGHTS | 0 | 10 | 10 |
| RES AT WHISPERING PINES C | 0 | 10 | 10 |
| TIMBER LAKE REPLAT | 0 | 10 | 10 |
| VILLAGES OF MACLAY T/H | 0 | 10 | 10 |
| JACKSON'S GAP | 9 | 0 | 9 |
| SABLE CHASE | 6 | 3 | 9 |
| ARBOR HILL | 0 | 9 | 9 |
| ASTORIA PARK | 0 | 9 | 9 |
| AUTUMN WOODS | 0 | 9 | 9 |
| AVONDALE | 0 | 9 | 9 |
| FAIRVIEW | 0 | 9 | 9 |
| FOXCROFT | 0 | 9 | 9 |
| SAVANNAH CROSSING CONDOMINIUM | 0 | 9 | 9 |
| OBSERVATION POINTE | 7 | 1 | 8 |
| LAKE JACKSON HEIGHTS | 2 | 6 | 8 |
| BRANDT HILLS | 0 | 8 | 8 |
| CHARLESTON SQUARE TOWNHOMES | 0 | 8 | 8 |
| CHATEAU LAFAYETTE TOWNHOMES | 0 | 8 | 8 |
| HOLLY HILLS | 0 | 8 | 8 |
| KILLEARN COMMONS | 0 | 8 | 8 |
| PARKHILL | 0 | 8 | 8 |
| PARKSIDE | 0 | 8 | 8 |
| THE TIMBERS TOWNHOMES | 0 | 8 | 8 |
| TOWN 'N COUNTRY PARK | 0 | 8 | 8 |
| DRY CREEK RUN | 3 | 4 | 7 |
| CAPITAL CITY ESTATES | 0 | 7 | 7 |
| CAROLINE COURTS | 0 | 7 | 7 |
| COPPER CREEK | 0 | 7 | 7 |
| FOREST GREEN | 0 | 7 | 7 |
| KILLEARN ESTATES UNIT 28 | 0 | 7 | 7 |
| LAKEWOOD VILLAGE | 0 | 7 | 7 |
| SETTLERS CREEK | 0 | 7 | 7 |
| THE MEADOWS | 0 | 7 | 7 |
| PAEONIA PLACE | 6 | 0 | 6 |
| LANDINGS OF GOLDEN EAGLE | 2 | 4 | 6 |
| 13-01N-01W | 1 | 5 | 6 |
| 30-01N-01E | 1 | 5 | 6 |
| BOND SOUTH | 1 | 5 | 6 |
| THE TENNYSON CONDOMINIUM | 1 | 5 | 6 |
| 12-01N-01W | 0 | 6 | 6 |
| BLOXHAM HEIGHTS | 0 | 6 | 6 |
| BRIGHTON PLACE CONDO | 0 | 6 | 6 |
| BUCKHEAD | 0 | 6 | 6 |
| CHEMONIE CROSSING | 0 | 6 | 6 |
| EAGLES RIDGE | 0 | 6 | 6 |
| ELBERTA EMPIRE | 0 | 6 | 6 |
| GOOSE CREEK | 0 | 6 | 6 |
| LAKESIDE | 0 | 6 | 6 |
| LEHIGH | 0 | 6 | 6 |
| LINWOOD MANOR | 0 | 6 | 6 |
| RACQUET CLUB | 0 | 6 | 6 |
| SAWGRASS PLANTATION TOWNHOMES | 0 | 6 | 6 |
| SEMINOLE MANOR | 0 | 6 | 6 |
| STONEY CREEK CROSSING | 0 | 6 | 6 |
| SUMMERCHASE CONDOMINIUMS | 0 | 6 | 6 |
| TERRENCE HEIGHTS | 0 | 6 | 6 |
| WOODLAND DRIVE | 0 | 6 | 6 |
| HARTSFIELD PLACE | 5 | 0 | 5 |
| APALACHEE EAST | 3 | 2 | 5 |
| PARK CHARLESTON | 2 | 3 | 5 |
| ADAMS PLACE CONDOMINIUMS | 0 | 5 | 5 |
| AZALEA PARK | 0 | 5 | 5 |
| BAKER PLACE | 0 | 5 | 5 |
| BENT TREE ESTATES | 0 | 5 | 5 |
| CAMERON CHASE | 0 | 5 | 5 |
| CRAWFORDVILLE TRACE | 0 | 5 | 5 |
| EASTON | 0 | 5 | 5 |
| GLEN HAWK | 0 | 5 | 5 |
| GOLDEN PARK | 0 | 5 | 5 |
| HIDDEN VALLEY | 0 | 5 | 5 |
| HIGHLANDS AT NORTHAMPTON | 0 | 5 | 5 |
| HOMESTEAD RIDGE | 0 | 5 | 5 |
| KINSAIL AKA VILLAGES OF KILLEARN | 0 | 5 | 5 |
| LAFAYETTE OAKS | 0 | 5 | 5 |
| LAKESHORE ESTATES | 0 | 5 | 5 |
| LENOX MILL | 0 | 5 | 5 |
| MEADOWBROOK | 0 | 5 | 5 |
| MELROSE PARK | 0 | 5 | 5 |
| PARK TERRACE | 0 | 5 | 5 |
| RENEGADE CONDOMINIUM | 0 | 5 | 5 |
| ROYAL OAKS | 0 | 5 | 5 |
| SAN LUIS RIDGE | 0 | 5 | 5 |
| SCENIC HEIGHTS | 0 | 5 | 5 |
| SETTLERS SPRINGS | 0 | 5 | 5 |
| TOWNSHIP ONE NORTH | 0 | 5 | 5 |
| WESTOVER TOWNHOMES | 0 | 5 | 5 |
| WOODGATE | 0 | 5 | 5 |
| WOODSIDE HEIGHTS | 0 | 5 | 5 |
| TALLAHASSEE HIGHLANDS | 2 | 2 | 4 |
| TALLAHASSEE CENTER CONDO | 1 | 3 | 4 |
| 02-01N-01W | 0 | 4 | 4 |
| 11-01N-01W | 0 | 4 | 4 |
| APALACHEE HILLS | 0 | 4 | 4 |
| BRECKENRIDGE ON PARK | 0 | 4 | 4 |
| CAMPBELL PARK | 0 | 4 | 4 |
| CAPITAL HILLS | 0 | 4 | 4 |
| CENTERVILLE TRACE | 0 | 4 | 4 |
| CHASE'S RIDGE | 0 | 4 | 4 |
| CHASE'S RUN | 0 | 4 | 4 |
| CHESAPEAKE PLACE TOWNHOMES | 0 | 4 | 4 |
| DEER POINTE | 0 | 4 | 4 |
| EASTON GLEN | 0 | 4 | 4 |
| EDINBURGH ESTATES | 0 | 4 | 4 |
| EMERALD ACRES | 0 | 4 | 4 |
| FOREST PARK | 0 | 4 | 4 |
| GARDENIA GARDENS | 0 | 4 | 4 |
| GLENDALE | 0 | 4 | 4 |
| GREYS RUN | 0 | 4 | 4 |
| HARBINWOOD ESTATES | 0 | 4 | 4 |
| HARTSFIELD VILLAGE | 0 | 4 | 4 |
| HEARTWOOD HILLS | 0 | 4 | 4 |
| INDIAN VILLAGE | 0 | 4 | 4 |
| KERR SURVEY | 0 | 4 | 4 |
| LAFAYETTE CONDO/TOWNHOMES | 0 | 4 | 4 |
| LAKESHORE GARDENS | 0 | 4 | 4 |
| LAKEWOOD | 0 | 4 | 4 |
| LAUREL TRACE | 0 | 4 | 4 |
| MAJESTIC OAKS CONDOMINIUMS | 0 | 4 | 4 |
| MELODY HILLS | 0 | 4 | 4 |
| NORTHAMPTON | 0 | 4 | 4 |
| NORTHWEST ADD TO TALLAHASSEE | 0 | 4 | 4 |
| OAK RIDGE PLACE | 0 | 4 | 4 |
| OAK VALLEY | 0 | 4 | 4 |
| OLIVER HEIGHTS | 0 | 4 | 4 |
| SUNNY VILLAGE | 0 | 4 | 4 |
| THE LAKES | 0 | 4 | 4 |
| TOWER OAKS | 0 | 4 | 4 |
| TOWERS | 0 | 4 | 4 |
| TWIN LAKES COMMUNITY | 0 | 4 | 4 |
| VIEUX CARRE (STERLING HOUSE) | 0 | 4 | 4 |
| VILLAS OF WESTRIDGE | 0 | 4 | 4 |
| WAVERLY HILLS | 0 | 4 | 4 |
| WESTBURY | 0 | 4 | 4 |
| WESTWOOD CONDOMINIUM | 0 | 4 | 4 |
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Discussion
Why wasn't Highgrove included in this survey?
Hey Gene, I measured all of the 2010 sales, including Highgrove. This graph shows the top 21 neighborhoods, and the table shows all neighborhoods that have had 4 or more "arms length" home sales this year. Highgrove was further down the list, with only 2 sales this year (both resales).
I'm not sure if you should call the result of number of new homes sold / total number of homes as of last year as "growth rate"?
Should growth rate be new homes "built" (instead of "sold") / total homes as of last year?
Most new homes built in 2010 may have been sold in 2010, but the opposite may not be true. Many new homes sold in 2010 are not built this year but earlier.
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