Killearn Lakes 2 Home Sales Report
Posted by Joe Manausa on Wednesday, December 8, 2010 at 11:56 AM
By Joe Manausa / December 8, 2010
Comment
Monthly home sales in Killearn Lakes (Unit 2) have fallen to levels similar to 1993, and the impact of the Homebuyer Tax Credit appears to be mostly negated at this point. This popular Northeast Tallahassee neighborhood is seeing home sales each month at a rate that is only 30% of where it was in 2006 at the peak of the housing market.
In the real estate graph above, the number of home sales in Killearn Lakes 2 has been plotted each month, and then three trend lines have been generated. All 3 trend lines report falling numbers.
- On average over the past ten years, 4.2 homes are selling each month (but this number is falling)
- On average over the past five years, 2.7 homes are selling each month (but this number is falling)
- On average over the past year, 2.2 homes are selling each month (but this number is falling)
Killearn Lakes 2 Depreciation Continues
When we look at home values in Unit 2 of Killearn Lakes, we see falling numbers that are consistent with the rest of the Tallahassee real estate market.
The bubble cloud points to a short-term appreciation period that occurred during the Homebuyer Tax Credit, but once that program came to an end, all of the gains were given back up. Currently, the trends indicate that we will see much more depreciation in Unit 2 of Killearn Lakes for the foreseeable future.
When we take the graph above and combine it with the current supply of homes for sale in Killearn Lakes 2, we know that the buyers market forces will propel prices down.
Average Home Prices Near Median In KLP2
The median price of a home in Tallahassee has usually tracked very closely with the average home price in Killearn Lakes Unit 2. In the real estate graph below, we see all three trends are showing a downward path:
- The average price of a home sold in Killearn Lakes 2 over the past ten years is $180,000
- The average price of a home sold in Killearn Lakes 2 over the past five years is $172,000
- The average price of a home sold in Killearn Lakes 2 over the past year is $166,000
Recent Arms Length Killearn Lakes 2 Home Sales
| KLP2 Address | Price | Size | PPSFT | Age | Sale Date |
| 8637 OAK FOREST TRL | $150,000 | 1,565 | $96 | 1990 | 10/29/2010 |
| 1709 INDIAN TOWN LN | $161,000 | 2,045 | $79 | 1989 | 10/6/2010 |
| 8640 OAK FOREST TRL | $180,000 | 1,383 | $130 | 1993 | 9/30/2010 |
| 8313 THORNRIDGE LN | $195,000 | 1,745 | $112 | 1987 | 8/4/2010 |
| 1619 FLINT RIDGE LN | $178,000 | 1,522 | $117 | 1991 | 6/28/2010 |
| 8769 MINNOW CREEK DR | $130,000 | 1,374 | $95 | 1987 | 6/21/2010 |
| 1838 FOLKSTONE RD | $195,000 | 1,568 | $124 | 1990 | 6/10/2010 |
| 1833 BRIDGEMONT TRL | $155,000 | 1,200 | $129 | 1992 | 6/4/2010 |
| 2261 TUSCAVILLA RD | $156,900 | 1,784 | $88 | 1990 | 6/3/2010 |
| 8212 HUNTERS RIDGE TRL | $160,500 | 1,201 | $134 | 2010 | 6/2/2010 |
| 1695 FOLKSTONE RD | $153,000 | 1,364 | $112 | 1992 | 5/27/2010 |
| 8209 BRIDGE WATER TRL | $172,500 | 1,596 | $108 | 1989 | 5/26/2010 |
| 8204 BRIDGE WATER TRL | $140,000 | 1,276 | $110 | 1985 | 5/10/2010 |
| 1892 FOLKSTONE RD | $193,400 | 1,471 | $131 | 1986 | 3/19/2010 |
| 8225 BRIDGE WATER TRL | $129,600 | 1,897 | $68 | 1986 | 3/18/2010 |
| 8251 CHICKASAW TRL | $155,000 | 1,190 | $130 | 1990 | 3/17/2010 |
| 8105 HOLLY RIDGE TRL | $146,400 | 1,331 | $110 | 1991 | 3/12/2010 |
| 1777 FOLKSTONE RD | $162,500 | 1,384 | $117 | 1991 | 3/10/2010 |
| 1776 FOLKSTONE RD | $150,000 | 1,382 | $109 | 2000 | 12/23/2009 |
| 8331 CHICKASAW TRL | $242,500 | 2,075 | $117 | 1987 | 12/18/2009 |
| 8340 CHICKASAW TRL | $168,000 | 1,348 | $125 | 1991 | 12/18/2009 |
| 8227 HUNTERS RIDGE TRL | $168,000 | 1,404 | $120 | 1993 | 12/7/2009 |
| 8132 HOLLY RIDGE TRL | $125,000 | 1,264 | $99 | 2000 | 12/3/2009 |
| 8371 CHICKASAW TRL | $170,000 | 1,358 | $125 | 1996 | 12/2/2009 |
| 8830 MINNOW CREEK DR | $147,700 | 1,296 | $114 | 1989 | 11/18/2009 |
| 1769 FOLKSTONE RD | $178,000 | 1,341 | $133 | 1993 | 11/3/2009 |
| 8288 CHICKASAW TRL | $186,000 | 1,609 | $116 | 1991 | 11/2/2009 |
| 8633 OAK FOREST TRL | $100,000 | 1,293 | $77 | 1994 | 10/20/2009 |
| 1701 BROKEN BOW TRL | $185,500 | 1,340 | $138 | 1998 | 9/25/2009 |
| 8109 HOLLY RIDGE TRL | $152,000 | 1,187 | $128 | 1993 | 9/9/2009 |
| 2344 TUSCAVILLA RD | $155,000 | 1,232 | $126 | 1987 | 8/24/2009 |
| 1735 FOLKSTONE RD | $195,000 | 1,405 | $139 | 1991 | 8/18/2009 |
| 1706 BROKEN BOW TRL | $168,500 | 1,729 | $97 | 1993 | 7/31/2009 |
| 1835 FOLKSTONE RD | $165,000 | 1,203 | $137 | 1989 | 7/27/2009 |
| 8228 CHICKASAW TRL | $170,000 | 1,460 | $116 | 2004 | 7/27/2009 |
| 8628 OAK FOREST TRL | $189,900 | 1,544 | $123 | 1993 | 7/10/2009 |
| 8675 OAK FOREST TRL | $185,000 | 1,424 | $130 | 1990 | 7/6/2009 |
| 8216 HUNTERS RIDGE TRL | $190,500 | 1,623 | $117 | 1989 | 6/23/2009 |
| 8623 OAK FOREST TRL | $150,000 | 1,281 | $117 | 1990 | 6/18/2009 |
| 8390 CHICKASAW TRL | $174,500 | 1,383 | $126 | 1992 | 6/16/2009 |
| 2284 TUSCAVILLA RD | $142,500 | 1,317 | $108 | 1992 | 6/5/2009 |
| 8612 OAK FOREST TRL | $157,500 | 1,473 | $107 | 1988 | 6/5/2009 |
| 8402 CHICKASAW TRL | $148,500 | 1,466 | $101 | 1986 | 3/24/2009 |
| 1788 FOLKSTONE RD | $160,000 | 1,472 | $109 | 1993 | 2/24/2009 |
| 1883 FOLKSTONE RD | $145,000 | 1,467 | $99 | 1992 | 1/27/2009 |
| 8256 HUNTERS RIDGE TRL | $182,900 | 1,524 | $120 | 1991 | 1/6/2009 |
| 1797 FOLKSTONE RD | $170,000 | 1,392 | $122 | 1993 | 12/30/2008 |
| 1887 FOLKSTONE RD | $154,600 | 1,382 | $112 | 1995 | 12/30/2008 |
| 2348 TUSCAVILLA RD | $125,000 | 1,108 | $113 | 1988 | 12/5/2008 |
| 1699 FOLKSTONE RD | $167,500 | 1,420 | $118 | 1991 | 11/24/2008 |
| 1707 FOLKSTONE RD | $185,000 | 1,743 | $106 | 1989 | 11/7/2008 |
| 2317 TUSCAVILLA RD | $157,000 | 1,214 | $129 | 1984 | 9/5/2008 |
| 8235 CHICKASAW TRL | $162,000 | 1,341 | $121 | 1989 | 9/5/2008 |
| 1863 FOLKSTONE RD | $189,900 | 1,313 | $145 | 1996 | 8/27/2008 |
| 8620 OAK FOREST TRL | $163,000 | 1,232 | $132 | 1988 | 8/5/2008 |
| 1709 BROKEN BOW TRL | $229,000 | 1,686 | $136 | 7/31/2008 | |
| 1679 FOLKSTONE RD | $191,500 | 1,468 | $130 | 1997 | 7/25/2008 |
| 8753 MINNOW CREEK DR | $240,000 | 1,617 | $148 | 2004 | 7/21/2008 |
| 2363 TUSCAVILLA RD | $160,000 | 1,088 | $147 | 1985 | 7/18/2008 |
| 1875 FOLKSTONE RD | $191,500 | 1,382 | $139 | 1995 | 7/11/2008 |
| 8323 HUNTERS RIDGE TRL | $194,500 | 1,560 | $125 | 1989 | 7/11/2008 |
| 9113 BIRCH RUN LN | $226,000 | 1,609 | $140 | 1989 | 5/30/2008 |
| 1742 FOLKSTONE RD | $177,000 | 1,255 | $141 | 1992 | 5/20/2008 |
| 1628 FLINT RIDGE LN | $169,000 | 1,290 | $131 | 1987 | 5/1/2008 |
| 8287 HUNTERS RIDGE TRL | $157,000 | 1,214 | $129 | 1992 | 3/28/2008 |
| 8360 CHICKASAW TRL | $182,000 | 1,520 | $120 | 1988 | 3/26/2008 |
| 8220 HUNTERS RIDGE TRL | $175,000 | 1,276 | $137 | 1991 | 3/24/2008 |
| 8235 HUNTERS RIDGE TRL | $199,000 | 1,442 | $138 | 1992 | 2/28/2008 |
| 1705 BROKEN BOW TRL | $227,000 | 1,662 | $137 | 2/22/2008 | |
| 8331 CHICKASAW TRL | $200,000 | 2,075 | $96 | 1987 | 2/22/2008 |
| 8336 CHICKASAW TRL | $187,500 | 1,452 | $129 | 1991 | 2/8/2008 |
| 2305 TUSCAVILLA RD | $193,800 | 1,396 | $139 | 1990 | 1/22/2008 |
| 9113 BITHLO LN | $147,400 | 1,416 | $104 | 1990 | 1/10/2008 |
| 1611 FLINT RIDGE LN | $155,000 | 1,031 | $150 | 1987 | 1/7/2008 |
| 8604 OAK FOREST TRL | $199,500 | 1,284 | $155 | 1990 | 12/28/2007 |
| 8653 OAK FOREST TRL | $200,800 | 1,473 | $136 | 1990 | 11/30/2007 |
| 1817 BRIDGEMONT TRL | $196,000 | 1,288 | $152 | 1989 | 11/2/2007 |
| 8340 CHICKASAW TRL | $180,000 | 1,348 | $134 | 1991 | 10/31/2007 |
| 2308 TUSCAVILLA RD | $225,000 | 1,568 | $143 | 1988 | 10/24/2007 |
| 1651 FOLKSTONE RD | $194,000 | 1,379 | $141 | 1991 | 10/23/2007 |
| 8235 HUNTERS RIDGE TRL | $194,100 | 1,442 | $135 | 1992 | 10/1/2007 |
| 1701 INDIAN TOWN LN | $197,000 | 1,373 | $143 | 1990 | 9/28/2007 |
| 2358 TUSCAVILLA RD | $208,000 | 1,435 | $145 | 1991 | 9/21/2007 |
| 8109 HOLLY RIDGE TRL | $184,500 | 1,187 | $155 | 1993 | 8/31/2007 |
| 8256 HUNTERS RIDGE TRL | $191,500 | 1,524 | $126 | 1991 | 8/24/2007 |
| 9105 HICKORY NUT HL | $200,000 | 1,420 | $141 | 1992 | 8/10/2007 |
| 9113 BIRCH RUN LN | $211,200 | 1,609 | $131 | 1989 | 8/10/2007 |
| 1709 GREENRIDGE TRL | $190,000 | 1,410 | $135 | 1991 | 7/31/2007 |
| 9108 BIRCH RUN LN | $213,000 | 1,378 | $155 | 1990 | 7/27/2007 |
| 1813 BRIDGEMONT TRL | $200,000 | 1,238 | $162 | 1989 | 6/29/2007 |
| 8629 OAK FOREST TRL | $162,000 | 1,458 | $111 | 1998 | 6/28/2007 |
| 2383 TUSCAVILLA RD | $221,000 | 1,464 | $151 | 1992 | 6/27/2007 |
| 8312 CHICKASAW TRL | $162,600 | 1,737 | $94 | 1995 | 6/27/2007 |
| 2289 TUSCAVILLA RD | $190,000 | 1,164 | $163 | 1985 | 6/22/2007 |
| 8353 HUNTERS RIDGE TRL | $206,000 | 1,458 | $141 | 1994 | 6/22/2007 |
| 8316 CHICKASAW TRL | $171,000 | 1,737 | $98 | 1995 | 6/14/2007 |
| 8814 MINNOW CREEK DR | $235,400 | 1,638 | $144 | 1994 | 6/14/2007 |
| 1721 INDIAN TOWN LN | $191,300 | 1,213 | $158 | 1990 | 6/12/2007 |
| 1811 FOLKSTONE RD | $194,500 | 1,408 | $138 | 1991 | 6/8/2007 |
| 8632 OAK FOREST TRL | $204,500 | 1,533 | $133 | 1994 | 5/21/2007 |
| 8825 MINNOW CREEK DR | $187,900 | 1,124 | $167 | 1987 | 5/4/2007 |
| 1776 FOLKSTONE RD | $201,000 | 1,382 | $145 | 2000 | 5/3/2007 |
| 2249 TUSCAVILLA RD | $190,000 | 1,587 | $120 | 1990 | 4/27/2007 |
| 8382 CHICKASAW TRL | $190,000 | 1,454 | $131 | 1990 | 4/11/2007 |
| 1891 FOLKSTONE RD | $166,700 | 1,436 | $116 | 1993 | 3/29/2007 |
| 1735 FOLKSTONE RD | $212,500 | 1,405 | $151 | 1991 | 3/16/2007 |
| 8807 MINNOW CREEK DR | $189,900 | 1,308 | $145 | 1988 | 3/5/2007 |
| 8213 BRIDGE WATER TRL | $236,500 | 1,680 | $141 | 1995 | 2/28/2007 |
| 1887 FOLKSTONE RD | $202,100 | 1,382 | $146 | 1995 | 2/23/2007 |
| 8810 MINNOW CREEK DR | $153,000 | 1,638 | $93 | 1994 | 2/20/2007 |
| 8794 MINNOW CREEK DR | $199,900 | 1,245 | $161 | 1991 | 1/5/2007 |
| 1792 FOLKSTONE RD | $213,000 | 1,648 | $129 | 1988 | 1/4/2007 |
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