Ox Bottom Manor Home Sales Report December 2014

Located on the NE side of Tallahassee between Meridian Road and Thomasville Road, Ox Bottom Manor offers executive level homes in a high demand location.

Ox Bottom Manor has homes built from the late 1980s through the early 2000s, though occasionally new homes have been built since that time. Unlike many of the “boom neighborhoods” that we have discussed in recent housing reports, a well established neighborhood like Ox Bottom Manor is not likely to be suffering from too much pent-up supply. This neighborhood is large and old enough to have people on different time lines, and it is now recovering nicely.

In this report, we will look at prices, values, and sizes of homes in Ox Bottom Manor, as well as show current listings in the Tallahassee MLS and all closed home sales going back to 2003.

Ox Bottom Manor Community is located about nine miles north of Florida’s Capital in the rolling hills and canopy roads of Leon County and is convenient to recreation facilities, shopping, the Maclay Gardens Botanical Park and Lake Jackson. Residents are fortunate to be served by some of the best schools (Hawks Rise, Killarn Lakes, Deer Lake and Leon County Schools) in the county and state. The Ox Bottom Manor Community Association is active in protecting the interests of the community and the properties of its members. – Ox Bottom Manor Community Association

Ox Bottom Manor Home Prices

For all of the three real estate graphs found in this report, you will find the number of closed home sales for each year (blue columns, measured on the left vertical axis), and an important real estate statistic shown in red (measured on the right vertical axis. It is important to note that sales are through December for all previous years, but through mid December in 2014.

Average home prices have risen 2% in 2014 versus 2013, but remain 19% below the peak of the market prices established in 2006. With only one distressed sale this year, Ox Bottom Manor is faring far better than most neighborhoods in the Tallahassee real estate market. I believe this is the primary reason for the continued rise in both home values and home prices. The average recorded sales price is $339,000 for Ox Bottom Manor thus far in 2014.

Home sales activity this year is down after two very active years in 2012 and 2013, where the number of home sales was consistent with the most active years from 2002 through 2006. Thus far in 2014, there have been 22 closed home sales in Ox Bottom Manor.

Ox Bottom Manor Home Values

Average home values in Ox Bottom Manor have risen 2% since last year, the third year in a row to see appreciation since the low set back in 2011.

Through mid December, the average value of a home sold in Ox Bottom Manor has been $125 per square foot. This is up 10% over the bottom reached in 2011, but still down about 21% from the market high set back in 2006.