Buyers Are Scooping Up Great Values In Meadowbrook

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If “close to everything” matters to you, then consider buying a home in Meadowbrook.

This popular east-side neighborhood had its best year since 2006 last year, and is currently on pace to have one of its best years going back 20 years.

The reason for the recovery is low prices, and realistically this cannot last long, as homes are selling at a huge discount to their replacement cost, and that means investors are going to start swooping in to add these to their inventories.

So the next time you are near the intersection of Mahan and Capital Circle on the east side of Tallahassee, you might want to cruise into Meadowbrook to check out all some excellent homes for sale priced just above $150,000.

In this report, we will look at Meadowbrook home prices, home values, and home sizes, as well as the current listings in the Tallahassee MLS and all closed home sales going back to 1991.

Meadowbrook Home Prices

For the three real estate graphs found in this report, you will find the number of closed home sales for each year (red columns, measured on the left vertical axis), and an important real estate statistic shown in blue (measured on the right vertical axis. It is important to note that the analysis of the information that we provide is current through the second week of May 2015.

Average home prices in Meadowbrook rebounded strongly in 2014 but have given it all back and more thus far in 2015. The average recorded sales price is $142,400 in 2015.

Average Home Price

The sixteen homes sold in Meadowbrook last year was the most sold in a year since 16 were sold in 2006. The current pace thus far in 2015 indicates we have a chance of even more selling this year, so expect to see higher prices before year’s end.

Meadowbrook Home Values

Average home values in Meadowbrook rose 2% in 2014, but have regressed 5% through mid-May in 2015.

One might mistakenly believe that many of these sales have been distressed situations (short sales, foreclosures, bank owned properties), but this is not the case. Seven of the eight homes sold in 2015 were “arms length” home sales.

Average Home Value

In 2015, the average value of a home sold in Meadowbrook was been $90 per square foot, and that is a value that certainly cannot be replicated by a home builder. If you want a safe place to invest your money in a home in Tallahassee, you could do a lot worse than buying a home in Meadowbrook.

Where is the Tallahassee market headed?

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Meadowbrook Home Sizes

The average home size sold in Meadowbrook typically falls in a range of 1,550 to 1,850 square feet, and this year has seen homes selling towards the smaller end of this range.

Average Home Size

I think just about everything that hits the market in Meadowbrook will sell this year (as they did last year), so the home sizes merely reflect what the inventory offered. Buyers are not choosing smaller homes in 2015, they are choosing everything. Thus far in 2015, the average size of the 9 homes purchased has been 1,578 square feet.

Homes For Sale In Meadowbrook

The following list of homes are the most recent listings in Meadowbrook.

Meadowbrook

Meadowbrook

1 Property
2505 Bluebell Place
Tallahassee, FL, 32308
Beds3Baths3MLS#402454

Meadowbrook Home Sales

The following list shows home sales going back to 1991 in Meadowbrook.

Home Sales in Meadowbrook

AddressPricePrice / SQFClosing DateYear BuiltSQFSale Type
761 Lupine Ln$285,000$1902026-09-1119831,503Resale
724 Red Fern Rd$314,000$2192026-08-2019841,434Resale
799 Violet St$280,000$1402026-08-1919841,994Resale
2430 Beautyberry Ct$365,000$2062026-07-2819961,776Resale
714 Riggins Rd$385,000$2012026-06-0519891,912Resale
751 Violet St$370,000$1822026-05-1819912,028Resale
767 Violet St$310,000$1992026-02-0419921,556Resale
714 Riggins Rd$240,000$1262025-12-1019891,912Resale
701 Lupine Ln$365,000$2082025-11-2519851,758Resale
2307 Aster Way$330,000$1952025-11-2519841,688Resale
771 Lupine Ln$325,000$1802025-11-0419841,808Resale
708 Red Fern Rd$280,000$1592025-08-2519891,757Resale
2419 Basswood Ln$325,000$1672025-07-2819951,950Resale
696 Lupine Ln$345,000$2152025-07-1719881,602Resale
738 Riggins Rd$295,000$1842025-06-2019821,607Resale
772 Lupine Ln$302,500$2032025-05-3019841,491Resale
791 Violet St$300,000$2002025-04-1119841,502Resale
763 Violet St$315,000$2182024-12-1819911,442Resale
672 Riggins Rd$350,000$1732024-12-0619892,024Resale
721 Lupine Ln$335,000$2202024-10-1019861,521Resale
681 Lupine Lane$365,000$2352024-08-1619891,554Resale
762 Lupine Ln$370,000$1712024-08-1419832,168Resale
728 Red Fern Rd$310,000$2052024-07-1519841,511Resale
701 Lupine Ln$349,000$1992024-06-2719851,758Resale
711 Lupine Ln$290,000$1572024-05-3119851,848Resale
2308 Aster Way$332,500$1532024-05-1419842,172Resale
727 Violet St$337,500$2232024-04-2419861,513Resale
751 Lupine Ln$341,000$1912024-04-2319831,790Resale
867 Violet St$282,000$1822024-01-1119941,553Resale
2416 Wintergreen Rd$300,000$1852023-11-2019821,620Resale
748 Violet St$353,000$2012023-11-1519891,755Resale
743 Red Fern Rd$345,000$1952023-09-1519851,772Resale
664 Riggins Rd$290,000$1682023-08-2519881,725Resale
680 Lupine Ln$340,000$1822023-08-1819881,869Resale
715 Red Fern Rd$312,000$1572023-08-0219891,981Resale
681 Lupine Lane$366,000$2362023-05-1619891,554Resale
740 Violet St$265,000$1782023-05-0519861,490Resale
2434 Buttonbush Ct$350,000$1742023-02-2419942,012Resale
728 Lupine Ln$324,000$1912023-02-1319851,694Resale
866 Violet St$360,000$1942023-01-1019951,855Resale
743 Violet St$255,000$1772022-12-1519911,440Resale
2414 Beautyberry Ct$317,500$2042022-12-0219941,553Resale
2424 Basswood Ln$280,000$1582022-11-1819951,767Resale
685 Lupine Ln$333,000$1802022-11-0419901,845Resale
716 Violet St$325,000$1792022-10-1219861,818Resale
751 Red Fern Rd$270,000$1832022-08-0519951,474Resale
740 Red Fern Rd$310,000$1992022-07-0119841,556Resale
776 Lupine Ln$243,000$1692022-01-1919841,438Resale
771 Lupine Ln$297,500$1652021-12-2719841,808Resale
761 Lupine Ln$237,000$1582021-12-0619831,503Resale
732 Lupine Ln$280,000$1882021-10-0119851,488Resale
772 Lupine Ln$265,000$1782021-08-1319841,491Resale
2421 Wintergreen Rd$273,000$1762021-07-2619841,553Resale
688 Lupine Ln$265,000$1532021-06-3019901,731Resale
2300 Aster Way$210,000$1322021-06-1019831,595Resale
2504 Bluebell Pl$260,000$1342021-05-2719831,936Resale
689 Riggins Rd$290,000$1702021-04-1619881,706Resale
712 Lupine Ln$262,000$1732021-02-1919851,512Resale
710 Riggins Rd$336,000$1432021-02-0819882,354Resale
709 Riggins Rd$150,000$762020-11-3019881,978Resale
740 Red Fern Rd$257,500$1652020-11-1619841,556Resale
2422 Beautyberry Ct$280,000$1462020-10-0119961,913Resale
2408 Wintergreen Rd$229,000$1412020-08-0719821,620Resale
2414 Beautyberry Ct$242,500$1562020-07-2119941,553Resale
762 Lupine Ln$235,000$1082020-07-1519832,168Resale
2438 Buttonbush Ct$261,000$1362020-06-0519941,918Resale
866 Violet St$289,000$1562020-05-2919951,855Resale
2388 Wintergreen Rd$230,000$1582020-05-2719841,452Resale
2437 Beautyberry Ct$273,900$1292020-04-1719962,128Resale
741 Lupine Ln$215,000$1382020-03-3019831,557Resale
738 Riggins Rd$230,000$1432020-03-0619821,607Resale
2403 Wintergreen Rd$245,000$1252020-03-0619831,960Resale
2416 Formosa Dr$269,900$1282019-05-2820062,102Resale
2423 Buttonbush Ct$241,000$1272019-05-2819951,892Resale
2417 Beautyberry Ct$245,000$1292019-05-0119951,895Resale
2440 Basswood Ln$245,000$1262019-03-1119961,950Resale
729 Lupine Ln$197,000$952019-01-2519872,080Resale
2509 Bluebell Pl$225,000$1212019-01-1819871,856Resale
715 Red Fern Rd$235,000$1192018-12-0319891,981Resale
727 Violet St$198,000$1312018-11-2119861,513Resale
863 Violet St$216,000$1372018-09-2819941,578Resale
740 Violet St$192,500$1292018-09-2719861,490Resale
727 Red Fern Rd$183,000$1262018-09-0719851,458Resale
831 Violet St$209,000$1152018-09-0419961,816Resale
722 Riggins Rd$215,000$1352018-07-1819881,598Resale
2403 Wintergreen Rd$235,000$1202018-07-1819831,960Resale
2435 Basswood Ln$240,000$1122018-07-0619962,135Resale
712 Lupine Ln$200,000$1322018-06-1519851,512Resale
751 Red Fern Rd$205,000$1392018-05-2519951,474Resale
704 Red Fern Rd$219,500$1122018-05-2419881,968Resale
738 Riggins Rd$199,500$1242018-05-1119821,607Resale
2439 Buttonbush Ct$205,000$1322018-04-0219941,553Resale
721 Lupine Ln$220,000$1452018-03-2819861,521Resale
728 Lupine Ln$205,000$1212018-03-1619851,694Resale
2396 Wintergreen Rd$173,000$1242018-02-2219821,392Resale
762 Lupine Ln$215,000$992017-11-3019832,168Resale
875 Violet St$210,000$1292017-09-2219941,623Resale
680 Lupine Ln$197,800$1062017-09-2019881,869Resale
737 Lupine Ln$215,000$1232017-08-1119871,743Resale
768 Lupine Ln$222,500$1172017-07-2819831,898Resale

I hope you enjoyed our May 2015 update on home sales in Meadowbrook, please feel free to drop me a note if you have questions not covered in this report.

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