Killearn Lakes (Unit 1) Homes Prices Still Falling
The Tallahassee Real Estate Blog regularly reviews Tallahassee neighborhoods in order to get a feel for what home values are doing. You can click any one of the links in the right side bar (see pictured on the right) for a list of any blogs when the corresponding neighborhood in Tallahassee is mentioned.
When we last looked in on Killearn Lakes Unit 1, we noted that the home prices were holding fairly steady, though values (when looked at price per square foot) were falling. This told us that people who were buying a home in Killearn Lakes Unit 1 were buying larger homes, making the market look stronger than it appeared in standardized real estate reports.
Killearn Lakes (Unit1) Home Values
Home values continue to fall in Killearn Lakes (Unit 1). The best way to track real estate appreciation (or real estate depreciation) across a single Tallahassee subdivision is to track resale price per square foot data on a one-year trend.
The following real estate graph shows that the average number of homes selling in Killearn Lakes (Unit 1) each month has dropped below 2 per month (from a peak of nearly 5 home sales each month), and the average price per square foot of a home has dropped below $120 per square foot.
Remember, using the average price per square foot is an excellent way to track area home valuations over time, but it by no means is an accurate way to determine a home's value. Killearn Lakes (Unit 1) features many different types of homes sitting on different types of home sites.
Some homes in Killearn Lakes (Unit 1) are on water front lots, while others are on the interior. Some have additional features such as swimming pools and multi-car garages. An individual home valuation must consider all of the differences, not just heated and cooled square feet.
Average Home Prices In Killearn Lakes (Unit 1)
Many real estate reports feature average home prices in an area. This is good to know if you are considering buying a home in an area such as Killearn Lakes (Unit 1), but it by no means an accurate depiction of true real estate depreciation (or appreciation).
The real estate graph above shows that the average home price in Killearn Lakes (Unit 1) did not start dropping until late in 2008, well more than a year after the rest of the Tallahassee real estate market. What we found in our previous analysis of Killearn Lakes Unit 1 was that buyers were selecting the larger homes when buying in this neighborhood.
This meant average home prices looked to be staying the same, while our average price per square foot report showed that homes in Killearn Lakes (Unit 1) were depreciating at a rate consistent with the rest of the Tallahassee housing market.
 |
Please click here to tweet this to your friends! |
Recent Home Sales In Killearn Lakes (Unit 1)
| Address | Price | Size | Sale Date |
| 3524 ROSEMONT RIDGE RD | $236,500 | 1,660 | 9/30/2009 |
| 3516 OAK HILL TRL | $207,000 | 1,656 | 8/31/2009 |
| 3324 CHEROKEE RIDGE TRL | $155,000 | 1,388 | 8/28/2009 |
| 3551 DOGWOOD VALLEY TRL | $183,000 | 1,531 | 8/18/2009 |
| 3553 ROSEMONT RIDGE RD | $201,000 | 1,588 | 8/7/2009 |
| 7845 BRIARCREEK RD W | $171,000 | 1,603 | 8/3/2009 |
| 3428 ROSEMONT RIDGE RD | $200,000 | 1,734 | 8/3/2009 |
| 3309 BARROW HILL TRL | $95,000 | 1,745 | 7/21/2009 |
| 3516 OAK HILL TRL | $207,000 | 1,656 | 6/10/2009 |
| 3427 CEDARWOOD TRL | $220,000 | 1,587 | 5/15/2009 |
| 3352 MICANOPY TRL | $167,800 | 1,409 | 4/29/2009 |
| 3305 MICANOPY TRL | $175,000 | 1,662 | 4/15/2009 |
| 3313 BARROW HILL TRL | $175,000 | 1,384 | 4/8/2009 |
| 3619 DEER HILL TRL | $190,000 | 1,676 | 4/8/2009 |
| 7939 BRIARCREEK RD S | $186,500 | 1,440 | 4/3/2009 |
| 3523 CHEROKEE RIDGE TRL | $193,000 | 1,476 | 3/27/2009 |
| 3488 VALLEY CREEK DR | $265,000 | 2,081 | 3/19/2009 |
| 3423 ROSEMONT RIDGE RD | $129,900 | 1,196 | 3/4/2009 |
| 3317 BARROW HILL TRL | $210,000 | 2,168 | 1/16/2009 |
| 3418 TREATY OAK TRL | $194,900 | 1,624 | 12/12/2008 |
| 3447 BRIAR BRANCH TRL | $194,900 | 1,539 | 11/14/2008 |
| 3528 OAK HILL TRL | $249,100 | 1,753 | 11/5/2008 |
| 7944 BRIARCREEK RD S | $190,000 | 1,591 | 9/30/2008 |
| 3212 FAWN HILL TRL | $175,000 | 1,330 | 9/12/2008 |
| 3409 TREATY OAK TRL | $198,800 | 1,584 | 7/31/2008 |
| 3325 WILDWOOD TRL | $160,100 | 1,204 | 7/30/2008 |
| 7873 BRIARCREEK RD W | $175,000 | 1,600 | 7/28/2008 |
| 3380 MICANOPY TRL | $192,500 | 1,646 | 7/18/2008 |
| 3329 CHEROKEE RIDGE TRL | $203,000 | 1,490 | 7/17/2008 |
| 3309 BARROW HILL TRL | $243,000 | 1,768 | 6/16/2008 |
| 7741 BRIARCREEK RD N | $199,900 | 1,408 | 5/23/2008 |
| 3376 BARROW HILL TRL | $191,900 | 1,596 | 5/19/2008 |
| 7781 BRIARCREEK RD N | $225,000 | 1,600 | 5/16/2008 |
| 7880 BRIARCREEK RD W | $275,000 | 2,216 | 4/14/2008 |
| 7884 BRIARCREEK RD W | $162,000 | 1,228 | 3/27/2008 |
| 7741 BRIARCREEK RD N | $500,000 | 1,408 | 2/29/2008 |
| 7741 BRIARCREEK RD N | $152,500 | 1,408 | 1/28/2008 |
| 7001 FOXGLOVE LN | $195,000 | 1,546 | 1/25/2008 |
| 3309 BARROW HILL TRL | $220,000 | 1,768 | 1/17/2008 |
| 3309 BARROW HILL TRL | $236,500 | 1,768 | 1/17/2008 |
| 3432 HAWKS HILL TRL | $190,000 | 1,358 | 1/3/2008 |
| 3525 CHEROKEE RIDGE TRL | $221,500 | 1,487 | 12/27/2007 |
| 3401 ROSEMONT RIDGE RD | $170,000 | 1,200 | 12/12/2007 |
| 3444 CEDARWOOD TRL | $205,000 | 1,406 | 11/1/2007 |
| 3436 HAWKS HILL TRL | $161,000 | 1,312 | 10/1/2007 |
| 7788 BRIARCREEK RD N | $255,000 | 1,776 | 9/26/2007 |
| 3489 CEDARWOOD TRL | $258,000 | 1,794 | 9/11/2007 |
| 7797 BRIARCREEK RD N | $209,000 | 1,316 | 9/5/2007 |
| 7420 LAUREL RIDGE LN | $195,000 | 1,440 | 8/10/2007 |
| 3388 MICANOPY TRL | $235,000 | 1,600 | 7/31/2007 |
| 8037 BRIARCREEK RD E | $246,000 | 2,044 | 7/31/2007 |
| 3416 BRIAR BRANCH TRL | $150,000 | 1,804 | 7/30/2007 |
| 3309 BARROW HILL TRL | $138,200 | 1,768 | 7/19/2007 |
| 3572 ROSEMONT RIDGE RD | $202,500 | 1,409 | 7/19/2007 |
| 3432 ROSEMONT RIDGE RD | $231,800 | 1,463 | 7/17/2007 |
| 3525 LARKSPUR LN | $169,300 | 1,406 | 7/6/2007 |
| 8021 BRIARCREEK RD S | $228,000 | 1,600 | 6/15/2007 |
| 3501 TURKEY RUN LN | $240,000 | 1,777 | 5/24/2007 |
| 3533 OAK HILL TRL | $279,000 | 2,188 | 5/4/2007 |
| 3436 EDGEMONT TRL | $230,000 | 1,586 | 4/3/2007 |
| 3504 ROSEMONT RIDGE RD | $252,000 | 1,389 | 3/16/2007 |
| 3559 DOGWOOD VALLEY TRL | $179,000 | 1,240 | 3/15/2007 |
| 3205 WIND LAKE LN | $195,000 | 1,380 | 2/23/2007 |
| 3453 CEDARWOOD TRL | $204,000 | 1,400 | 2/23/2007 |
| 3443 TREATY OAK TRL | $235,000 | 1,600 | 2/23/2007 |
| 3430 TREATY OAK TRL | $205,000 | 1,352 | 2/22/2007 |
| 7858 BRIARCREEK RD W | $173,000 | 1,220 | 2/21/2007 |
| 7866 BRIARCREEK RD W | $230,000 | 1,687 | 2/16/2007 |
| 3329 CHEROKEE RIDGE TRL | $214,900 | 1,490 | 2/9/2007 |
| 3336 MICANOPY TRL | $184,000 | 1,264 | 1/26/2007 |
| 8057 BRIARCREEK RD E | $235,000 | 1,690 | 1/3/2007 |
| 3480 HAWKS HILL TRL | $202,500 | 1,262 | 12/29/2006 |
| 7732 BASS RIDGE TRL | $205,000 | 1,860 | 12/29/2006 |
| 3204 WIND LAKE LN | $228,500 | 1,643 | 12/20/2006 |
| 3427 BRIAR BRANCH TRL | $230,000 | 1,916 | 12/15/2006 |
| 3430 TREATY OAK TRL | $205,000 | 1,352 | 12/7/2006 |
| 3225 FAWN HILL TRL | $167,000 | 1,158 | 12/5/2006 |
| 7805 BRIARCREEK RD N | $177,500 | 1,068 | 12/1/2006 |
| 7733 BRIARCREEK RD N | $185,000 | 1,256 | 10/20/2006 |
| 3589 ROSEMONT RIDGE RD | $285,000 | 2,333 | 10/11/2006 |
| 3524 OAK HILL TRL | $209,000 | 1,656 | 9/28/2006 |
| 7745 BRIARCREEK RD N | $202,900 | 1,417 | 9/25/2006 |
| 3608 DEER HILL TRL | $168,000 | 1,500 | 9/22/2006 |
| 7701 BASS RIDGE TRL | $187,000 | 1,599 | 9/14/2006 |
| 3621 LITTLE FOX LN | $290,900 | 1,880 | 8/29/2006 |
| 3472 CEDARWOOD TRL | $183,800 | 1,260 | 8/28/2006 |
| 3220 FAWN HILL TRL | $227,500 | 1,600 | 8/18/2006 |
| 7784 BASS RIDGE TRL | $244,000 | 1,854 | 8/2/2006 |
| 3475 HAWKS HILL TRL | $230,000 | 1,600 | 7/28/2006 |
| 7916 BRIARCREEK RD S | $193,000 | 1,538 | 7/26/2006 |
| 7136 BEECH RIDGE TRL | $268,000 | 1,990 | 7/18/2006 |
| 3431 BRIAR BRANCH TRL | $205,000 | 1,695 | 7/14/2006 |
| 7775 BASS RIDGE TRL | $210,000 | 1,600 | 7/13/2006 |
| 7805 BRIARCREEK RD N | $141,000 | 1,068 | 6/30/2006 |
| 3436 EDGEMONT TRL | $180,000 | 1,586 | 6/30/2006 |
| 7932 BRIARCREEK RD S | $230,000 | 1,600 | 6/30/2006 |
| 3553 ROSEMONT RIDGE RD | $221,000 | 1,588 | 6/19/2006 |
| 3349 BARROW HILL TRL | $233,000 | 1,750 | 6/16/2006 |
| 7841 BRIARCREEK RD W | $157,700 | 995 | 6/15/2006 |
| 3453 CEDARWOOD TRL | $155,000 | 1,400 | 6/9/2006 |
| 3328 BARROW HILL TRL | $203,000 | 1,602 | 6/1/2006 |
Post a Comment