Ox Bottom Manor Home Sales Report
Homeowners in Ox Bottom Manor are seeing a lower and slower housing market than what they are used to.
That is no big shock, but I do find it surprising that home sales in Ox Bottom Manor are even slower then many of the other NE Tallahassee neighborhoods.
Ox Bottom Manor has recorded fewer than 20 sales per year since 2008. As a very popular Northeast Tallahassee subdivision that was used to seeing more than 40 home sales per year prior to the boom of the housing market, a reduction in the home sales rate by more than 60% is not so good.
But I have found the culprit, the reason why Ox Bottom Manor is slower than "everybody else."
It's because the homeowners in Ox Bottom Manor are holding on to their asking prices. Home values have dropped "only 27%" since the peak of the housing market. Currently, there are 18 homes for sale in Ox Bottom Manor, which is just over a year's worth of supply based upon the past four years rate of sales.
Home Sales In Ox Bottom Manor
Home sales in the Ox Bottom Neighborhoods have picked-up slightly over last year's "worst-ever" performance, but they still are well below one-half the rate these communities would expect to see in normal years. Based upon this current rate of sales, the relative supply of homes for sale in the Ox Bottom neighborhoods is right around 12 months of supply.
Home Prices In Ox Bottom Manor
The average price of a home sold in Ox Bottom Manor last year was $283K, which is down 32% from the $419K average home sales price that was recorded in 2006. The real estate graph below shows that home prices are right back where they were in 2003, but early 2012 sales might be showing that buyers are beginning to scoop up the larger homes.
Home Values In Ox Bottom Manor
More importantly, the Ox Bottom neighborhoods have seen home values decline 27% from $158 per square foot in 2006 to just $115 per square foot through Mid March, 2012.
The real estate graph below shows that this trend is still on a downward path, and home owners who think they are waiting for the return of the market on in for a rude surprise.
You see, the strength of the home values in Ox Bottom Manor is directly related to the financial strength of this affluent community. Compared with the rest of Tallahassee, the negative activity in the economy had less impact on Ox Bottom Manor home owners. But herein lies the rub ...
Home values in Tallahassee have dropped. To attract the historical "normal" number of buyers to Ox Bottom Manor, values will have to fall in line with what buyers can find elsewhere in comparable neighborhoods.
As more home owners in Ox Bottom Manor "give up waiting" in order to move on with their lives, the backlog (pent-up supply) will hit the market and I believe Ox Bottom Manor will equalize with the rest of the Tallahassee housing market. Right now, homes in Ox Bottom Manor are trading (selling) at a premium to the rest of the market, and current sellers would be wise to take advantage of this.
Home seller's should expect to get less money for their homes next year than they could receive in 2012. This means that homeowners who are thinking about selling a home in Ox Bottom Manor should either plan to hold onto the home for many more years, or sell it as fast as possible to get the top dollar in a declining real estate market.
Recent Home Sales In Ox Bottom Manor
| Address | Sales Price | Price/SQF | Closing Date | Year Built | SQF | Type |
| 6356 San Martin Court | $273,760 | $123 | 3/15/2012 | 1997 | 2,222 | Distressed |
| 6007 Ox Bottom Manor | $334,500 | $124 | 2/10/2012 | 1989 | 2,706 | Arms Length |
| 6271 Whittondale Ct | $275,000 | $101 | 1/6/2012 | 1993 | 2,736 | Arms Length |
| 6276 Whittondale Dr | $290,000 | $100 | 12/14/2011 | 1995 | 2,891 | Arms Length |
| 355 Milestone Drive | $255,000 | $108 | 11/30/2011 | 1994 | 2,357 | Arms Length |
| 205 Hawk Meadow Dr | $341,700 | $107 | 11/8/2011 | 1990 | 3,185 | Arms Length |
| 6392 Belgrand Drive | $299,900 | $131 | 9/9/2011 | 1995 | 2,283 | Arms Length |
| 489 Meadow Ridge Drive | $345,000 | $114 | 8/29/2011 | 1997 | 3,017 | Arms Length |
| 511 Meadow Ridge Court | $280,000 | $127 | 8/26/2011 | 1997 | 2,205 | Arms Length |
| 6030 Quail Ridge | $265,000 | $98 | 8/24/2011 | 1992 | 2,715 | Arms Length |
| 6266 Hines Hill Circle | $270,000 | $127 | 8/19/2011 | 1992 | 2,123 | Arms Length |
| 6121 Borderline Drive | $313,500 | $127 | 7/1/2011 | 1993 | 2,475 | Arms Length |
| 342 Milestone Drive | $296,500 | $124 | 6/15/2011 | 1989 | 2,400 | Arms Length |
| 292 Thornberg Drive | $275,000 | $128 | 6/15/2011 | 1996 | 2,145 | Arms Length |
| 6260 Hines Hill Circle | $230,500 | $107 | 6/15/2011 | 1993 | 2,159 | Arms Length |
| 6266 Hines Hill Circle | $240,500 | $113 | 3/8/2011 | 1992 | 2,123 | Distressed |
| 6272 Whittondale Drive | $255,000 | $114 | 2/9/2011 | 1998 | 2,241 | Distressed |
| 6355 Belgrand Drive | $215,000 | $107 | 2/4/2011 | 1998 | 2,008 | Distressed |
| 6332 Glasgow Dr | $315,000 | $115 | 1/28/2011 | 1996 | 2,750 | Distressed |
| 6321 Sinkola Drive | $330,000 | $131 | 1/11/2011 | 2007 | 2,516 | Arms Length |
| 107 Hawkmeadow Drive | $255,000 | $117 | 12/30/2010 | 1993 | 2,179 | Arms Length |
| 6416 Mallard Trace Drive | $290,000 | $135 | 12/23/2010 | 1997 | 2,153 | Arms Length |
| 335 Milestone Dr | $365,000 | $114 | 12/17/2010 | 1991 | 3,196 | Arms Length |
| 515 Meadow Ridge Court | $292,500 | $123 | 11/16/2010 | 1996 | 2,378 | Arms Length |
| 521 Meadow Ridge Court | $316,000 | $118 | 10/15/2010 | 2001 | 2,676 | Distressed |
| 322 Thornberg Drive | $322,000 | $121 | 9/24/2010 | 1996 | 2,663 | Arms Length |
| 6108 Ox Bottom Manor Drive | $325,000 | $117 | 8/5/2010 | 1990 | 2,770 | Arms Length |
| 6115 Ox Bottom Manor Drive | $335,000 | $121 | 6/24/2010 | 1989 | 2,768 | Arms Length |
| 143 Thistlewood Court | $283,000 | $136 | 6/7/2010 | 1997 | 2,074 | Arms Length |
| 6335 Belgrand Drive | $295,000 | $136 | 6/1/2010 | 2001 | 2,174 | Arms Length |
| 6259 Hines Hill Circle | $265,000 | $125 | 4/20/2010 | 1993 | 2,116 | Arms Length |
| 6011 Quail Ridge Lane | $312,500 | $124 | 3/31/2010 | 1995 | 2,512 | Arms Length |
| 6114 Borderline Dr | $390,000 | $114 | 3/9/2010 | 1991 | 3,426 | Arms Length |
| 209 Thornberg Dr. | $350,000 | $123 | 3/1/2010 | 1999 | 2,853 | Arms Length |
| 365 Meadow Ridge Drive | $392,000 | $107 | 2/26/2010 | 1995 | 3,657 | Arms Length |
| 6011 Ox Bottom Manor Drive | $280,000 | $132 | 2/12/2010 | 1992 | 2,128 | Distressed |
| 6211 Buck Run Cir | $335,000 | $136 | 12/18/2009 | 2007 | 2,472 | Distressed |
| 421 Meadow Ridge Drive | $387,500 | $136 | 12/2/2009 | 1999 | 2,855 | Arms Length |
| 398 Meadow Ridge Drive | $265,000 | $101 | 11/25/2009 | 1996 | 2,634 | Distressed |
| 6344 Glasgow Drive | $437,500 | $130 | 11/24/2009 | 1996 | 3,361 | Arms Length |
| 6328 Mallard Trace | $270,000 | $137 | 11/18/2009 | 1993 | 1,971 | Arms Length |
| 147 Cotillion Circle | $325,000 | $128 | 9/18/2009 | 1995 | 2,533 | Arms Length |
| 6318 Coach House Court | $340,000 | $150 | 8/31/2009 | 2001 | 2,268 | Arms Length |
| 442 Meadow Ridge Drive | $340,000 | $128 | 8/21/2009 | 1998 | 2,661 | Arms Length |
| 6333 Sinkola Dr | $325,000 | $135 | 7/31/2009 | 1996 | 2,400 | Arms Length |
| 6261 Buck Run Circle | $424,000 | $146 | 6/30/2009 | 2009 | 2,908 | Arms Length |
| 6392 Belgrand Drive | $335,000 | $147 | 6/29/2009 | 1995 | 2,277 | Arms Length |
| 509 Meadow Ridge Drive | $285,000 | $127 | 6/26/2009 | 2000 | 2,249 | Arms Length |
| 526 Meadow Ridge Dr | $335,000 | $126 | 5/29/2009 | 1995 | 2,656 | Arms Length |
| 454 San Martin Drive | $400,000 | $140 | 5/15/2009 | 1996 | 2,860 | Arms Length |
| 6115 Ox Bottom Manor Drive | $339,000 | $122 | 4/27/2009 | 1989 | 2,768 | Arms Length |
| 6143 Borderline Dr | $300,000 | $136 | 3/26/2009 | 1991 | 2,208 | Arms Length |
| 6305 Coach House Court | $294,500 | $108 | 3/17/2009 | 1992 | 2,737 | Arms Length |
| 6393 Mallard Trace Drive | $250,000 | $112 | 2/25/2009 | 1995 | 2,237 | Arms Length |
| 558 Meadow Ridge Dr | $441,000 | $158 | 12/4/2008 | 1995 | 2,800 | Arms Length |
| 6320 Glasgow Drive | $415,000 | $136 | 9/29/2008 | 1997 | 3,061 | Arms Length |
| 421 Meadow Ridge Drive | $412,500 | $144 | 9/25/2008 | 1999 | 2,855 | Arms Length |
| 211 Meadow Ridge Dr | $465,000 | $137 | 9/18/2008 | 1991 | 3,400 | Arms Length |
| 6359 San Martin Court | $324,000 | $145 | 8/21/2008 | 1997 | 2,238 | Arms Length |
| 6018 Quail Ridge Dr | $340,000 | $139 | 8/8/2008 | 1989 | 2,442 | Arms Length |
| 187 Meadow Ridge Drive | $345,000 | $142 | 7/28/2008 | 1993 | 2,433 | Arms Length |
| 363 Milestone Drive | $310,000 | $131 | 7/28/2008 | 1992 | 2,361 | Arms Length |
| 6256 Hines Hill Cir | $355,000 | $138 | 7/16/2008 | 1993 | 2,569 | Arms Length |
| 6012 Ox Bottom Manor Dr | $400,000 | $141 | 7/3/2008 | 1992 | 2,843 | Arms Length |
| 6421 Mallard Trace Dr | $387,500 | $150 | 6/30/2008 | 1994 | 2,580 | Arms Length |
| 347 Thornberg Drive | $364,900 | $140 | 6/23/2008 | 1996 | 2,608 | Arms Length |
| 417 Meadow Ridge Drive | $449,000 | $140 | 6/9/2008 | 1997 | 3,202 | Arms Length |
| 352 Meadow Ridge Dr | $340,000 | $127 | 6/5/2008 | 1995 | 2,684 | Arms Length |
| 341 Meadow Ridge Drive | $400,000 | $154 | 5/29/2008 | 1994 | 2,603 | Arms Length |
| 6369 Mallard Trace Drive | $380,000 | $130 | 5/23/2008 | 1998 | 2,917 | Arms Length |
| 6330 Belgrand Drive | $490,000 | $166 | 3/28/2008 | 1997 | 2,953 | Arms Length |
| 6309 Pickney Hill Road | $407,500 | $151 | 2/5/2008 | 1995 | 2,692 | Arms Length |
| 6018 Quail Ridge Dr | $323,900 | $133 | 1/10/2008 | 1989 | 2,442 | Arms Length |
| 6232 Whittondale Drive | $354,900 | $151 | 11/9/2007 | 1996 | 2,346 | Arms Length |
| 130 Thistlewood Court | $365,000 | $160 | 11/2/2007 | 1994 | 2,280 | Arms Length |
| 6351 Sinkola Drive | $310,000 | $159 | 10/30/2007 | 1996 | 1,944 | Arms Length |
| 135 Thistlewood Ct | $402,000 | $162 | 10/25/2007 | 1995 | 2,483 | Arms Length |
| 401 Meadow Ridge Drive | $453,000 | $162 | 10/15/2007 | 1994 | 2,803 | Arms Length |
| 6318 Coach House Court | $390,000 | $172 | 10/9/2007 | 2001 | 2,268 | Arms Length |
| 6362 San Martin Court | $445,000 | $162 | 9/27/2007 | 1997 | 2,754 | Arms Length |
| 6359 Belgrand Dr | $295,000 | $147 | 9/19/2007 | 1998 | 2,008 | Arms Length |
| 143 Cotillion Circle | $360,000 | $137 | 9/14/2007 | 1995 | 2,633 | Arms Length |
| 182 Cotillion | $295,900 | $143 | 9/14/2007 | 1995 | 2,068 | Arms Length |
| 310 Thornberg Dr | $322,500 | $161 | 8/31/2007 | 1997 | 2,005 | Arms Length |
| 6110 Borderline Dr | $320,000 | $156 | 8/23/2007 | 1991 | 2,048 | Arms Length |
| 6359 Mallard Trace Drive | $447,000 | $141 | 8/23/2007 | 1993 | 3,166 | Arms Length |
| 6345 Mallard Trace | $385,000 | $136 | 8/2/2007 | 1993 | 2,840 | Arms Length |
| 472 Meadow Ridge Dr | $385,000 | $171 | 7/27/2007 | 1997 | 2,248 | Arms Length |
| 211 Hawk Meadow Drive | $368,000 | $158 | 7/13/2007 | 1990 | 2,326 | Arms Length |
| 6367 Sinkola Drive | $440,000 | $163 | 6/27/2007 | 1996 | 2,700 | Arms Length |
| 414 Meadow Ridge Drive | $450,000 | $165 | 6/26/2007 | 1998 | 2,730 | Arms Length |
| 6327 Coach House Court | $420,000 | $154 | 6/15/2007 | 1995 | 2,729 | Arms Length |
| 6323 Belgrand Drive | $390,000 | $165 | 6/8/2007 | 1999 | 2,368 | Arms Length |
| 6356 San Martin Ct. | $392,000 | $176 | 5/9/2007 | 1997 | 2,222 | Arms Length |
| 6264 Whittondale Drive | $345,000 | $160 | 5/2/2007 | 1994 | 2,150 | Arms Length |
| 6154 Borderline Dr | $400,000 | $135 | 5/2/2007 | 1989 | 2,969 | Arms Length |
| 6397 Mallard Trace | $440,000 | $158 | 4/5/2007 | 1994 | 2,778 | Arms Length |
| 270 Thornberg Dr | $442,900 | $164 | 3/30/2007 | 1996 | 2,696 | Arms Length |
| 6292 Whittondale | $362,000 | $162 | 2/28/2007 | 1999 | 2,228 | Arms Length |
Check back again real soon for more Tallahassee neighborhood reports, including Ox Bottom Manor.
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