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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.

Ox Bottom Manor Home Prices

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.

Ox Bottom Manor Home Values

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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