Pine Tip Hills Housing Report April 2015

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Large homes on large lots draws homebuyers to Pine Tip Hills in NW Tallahassee.

But many shoppers who work too hard to find homes in NE Tallahassee end up missing Pine Tip Hills, and it sits just a few hundred yards west of the East-West boundary on the north side of the Tallahassee real estate market.

Homes are still being built today in Pine Tip Hills, though the majority were built in the 1980s and 1990s.

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

Pine Tip Hills Home Prices

For each of the 3 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 while the graphs and table will update on a regular basis, the analysis of the information that we provide is current through the first few days of April 2015.

Average home prices fell 4% in 2014 versus 2013, but have not moved yet in 2015. Pine Tip Hills provides a great example of why tracking the average price movement can mislead you into what is happening with real estate appreciation, as we will demonstrate below when we examine home values.

The average recorded sales price is $338,500 for Pine Tip Hills thus far in 2015.

Average Home Price

Home sales activity has been slow and sporadic since the collapse of the housing market. It is interesting to note that Pine Tip Hills did not experience a significant peak and valley from the real estate market expansion of 2002 through 2006.

In fact, the second highest volume year on record was in 2013, as lower prices brought in more than double the recent amount of buyers. Thus far in 2015, there have been 2 closed home sales in Pine Tip Hills, half the amount that closed in all of 2014.

Pine Tip Hills Home Values

Average home values in Pine Tip Hills rose 16% in 2014 versus 2013, which is completely contrary to what we saw above from average home prices. There are two things we can take from this information.

  1. Don’t ever confuse price movement with value movement
  2. Neighborhoods with a small number of home sales will have “noise” in the data, and this is what we are seeing recently in Pine Tip Hills.

Average Home Value

Through early April, the average value of a home sold in Pine Tip Hills has been $128 per square foot. This is up 9% over the bottom reached in 2013, and down 27% from the market high set back in 2006. The surge of buyers to this neighborhood in 2013 clearly indicated that buyers thought they were greatly undervalued at $118 per square foot (resale values), but the adjustment since that time has returned sales volume to normal.

Where is the Tallahassee market headed?

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Pine Tip Hills Home Sizes

The average home size sold in Pine Tip Hills typically falls in a range of 2,500 to 3,500 square feet, though three out of the past five years have had values fall outside of this range (in either direction). For the past two years, buyers have been buying the smaller homes, and the 2 sales thus far in 2015 have averaged 2,648 square feet.

Average Home Size

The reason that we track average home size for a neighborhood is because it helps us explain the discrepancy between average home price movement versus average home value movement. When home sizes vary, we are no longer comparing (apples to apples), so size changes end up explaining the difference between value and price adjustments.

Homes For Sale In Pine Tip Hills

The following list of homes are the most recent listings in Pine Tip Hills.

Pine Tip Hills

Pine Tip Hills

1 Property
3602 DEXTER Drive
Tallahassee, FL, 32312
Beds3Baths2MLS#406642

Pine Tip Hills Home Sales

The following list shows home sales going back to 1991 in Pine Tip Hills.

Home Sales in Pine Tip Hills

AddressPricePrice / SQFClosing DateYear BuiltSQFSale Type
3664 Pine Tip Rd$535,000$2502026-07-3119872,136Resale
414 Frank Shaw Rd$650,000$2522026-05-2219942,583Resale
3660 Letitia Ln$550,000$2362026-05-1419962,328Resale
3699 Dexter Dr$642,000$2462026-04-1519872,614Resale
3684 Letitia Ln$660,000$2322025-12-2319972,844Resale
3682 Dexter Dr$480,000$2102025-10-1419902,290Resale
3690 Dexter Dr$720,000$2132025-08-2219873,374Resale
549 Frank Shaw Rd$655,000$2332025-05-0219962,816Resale
480 Teenie Ct$530,000$2312025-04-2519942,299Resale
515 Moss View Way$705,000$2142025-03-1719953,288Resale
3640 Pine Tip Rd$768,500$2242024-12-1919863,424Resale
3712 Pine Tip Rd$500,000$2312024-08-2019872,162Resale
514 Frank Shaw Rd$1,250,000$1842024-05-2920066,800Resale
520 Moss View Way$825,000$2162024-05-1619993,816Resale
3725 Sally Ln$425,000$2332024-01-2219871,824Resale
3808 Sally Ln$724,900$2312023-12-1119893,140Resale
507 Frank Shaw Rd$610,000$2422023-12-0619942,521Resale
561 Rawls Rd$530,000$2122023-11-2019932,500Resale
3686 Dwight Davis Dr$612,000$2882023-11-1419882,123Resale
3981 Frank Shaw Ln$675,000$2152023-10-0619983,138Resale
532 Frank Shaw Rd$1,125,000$2662023-10-0419964,229Resale
3785 Sally Ln$580,000$2572023-08-0719832,260Resale
3690 Dwight Davis Dr$579,900$2592023-07-1819882,240Resale
3688 Pine Tip Rd$750,000$2192023-05-2519853,425Resale
3684 Letitia Ln$700,000$2462023-05-2319972,844Resale
3653 Dwight Davis Dr$455,000$2112023-04-2419892,158Resale
3698 Dwight Davis Dr$625,000$2352023-04-1119912,665Resale
3664 Pine Tip Rd$490,000$2292023-03-2419872,136Resale
414 Frank Shaw Rd$475,500$1842022-12-0719942,583Resale
3670 Letitia Ln$440,000$2062022-11-3019942,140Resale
503 Frank Shaw Rd$625,000$2742022-11-3019932,282Resale
3661 Letitia Ln$650,000$2452022-11-1519962,649Resale
474 Frank Shaw Rd$675,000$2262022-11-1419952,985Resale
557 Frank Shaw Rd$500,000$2022022-10-0619952,471Resale
434 Frank Shaw Road$515,000$2282022-07-2219922,254Resale
576 Rhoden Cove Rd$675,000$2642022-07-0119892,560Resale
3675 Pine Tip Rd$725,000$2462022-06-2919872,949Resale
536 Frank Shaw Rd$700,000$2302022-06-2919933,044Resale
3694 Dwight Davis Drive$589,900$2022022-04-2019902,915Resale
503 Frank Shaw Rd$606,000$2662022-03-1619932,282Resale
3663 Uncle Glover Rd$530,000$2132021-12-0819982,487Resale
486 Frank Shaw Rd$630,000$2142021-11-1019972,946Resale
516 Moss View Way$680,000$2122021-11-0519983,208Resale
553 Frank Shaw Rd$610,000$2332021-10-2820082,613Resale
3615 Pine Tip Rd$365,500$1902021-08-1619861,919Resale
545 Frank Shaw Rd$675,000$2042021-08-1120003,303Resale
3812 Sampson Ct$535,000$1912021-07-1220012,795Resale
503 Frank Shaw Rd$496,000$2172021-06-1619932,282Resale
3804 Sampson Ct$606,000$1742021-05-2719973,484Resale
3667 Dexter Dr$351,000$1852021-03-3119851,895Resale
3662 Uncle Glover Rd$450,000$1632021-03-1719952,763Resale
584 Frank Shaw Rd$1,420,000$1662021-02-0820068,564Resale
3652 Pine Tip Rd$429,000$1672020-10-3019872,568Resale
3674 Letitia Ln$445,000$1732020-09-2819972,568Resale
3677 Dwight Davis Dr$440,000$1592020-06-2519892,767Resale
3640 Pine Tip Rd$508,000$1482020-06-0519863,424Resale
503 Frank Shaw Rd$400,000$1752020-04-3019932,282Resale
532 Frank Shaw Rd$575,000$1362020-04-0319964,229Resale
3666 Dwight Davis Dr$339,900$1512020-01-1719912,250Resale
541 Frank Shaw Rd$609,000$1322020-01-1720034,606Resale
3628 Pine Tip Rd$461,000$1282019-12-1719873,613Resale
524 Moss View Way$450,000$1452019-10-3119943,100Resale
540 Rhoden Cove Rd$445,000$1162019-09-0619893,830Resale
576 Rhoden Cove Rd$396,500$1552019-08-0919892,560Resale
3699 Dexter Dr$415,000$1592019-05-2419872,614Resale
528 Moss View Way$480,000$1492019-03-0419933,228Resale
3698 Dwight Davis Dr$405,000$1522018-12-0719912,665Resale
3674 Dexter Dr$385,000$1492018-09-2619872,588Resale
536 Frank Shaw Rd$425,000$1402018-08-2219933,044Resale
448 Frank Shaw Rd$417,000$1722018-07-3119942,419Resale
511 Frank Shaw Rd$825,000$2262018-06-0720163,649Resale
3798 Sally Ln$380,000$1652018-05-0919852,309Resale
3700 Sally Ln$341,500$992018-02-2719853,455Resale
515 Moss View Way$480,000$1462018-01-1219953,288Resale
3651 Dexter Dr$337,500$1162017-11-1519872,908Resale
3725 Sally Ln$299,900$1642017-10-1719871,824Resale
3665 Dwight Davis Dr$400,000$1652017-06-3019932,425Resale
3687 Pine Tip Rd$385,000$1422017-06-0819852,712Resale
3690 Dexter Dr$510,000$1512017-06-0219873,374Resale
466 Frank Shaw Rd$375,000$1282017-04-0719972,926Resale
481 Teenie Ct$360,000$1352017-03-2919942,658Resale
3675 Pine Tip Rd$383,000$1302016-12-0119872,949Resale
3698 Dwight Davis Dr$361,000$1352016-07-0619912,665Resale
459 Frank Shaw Rd$630,000$1402016-05-2620004,494Resale
552 Moss View Way$395,000$1262016-03-3119913,125Resale
561 Rawls Rd$330,000$1322016-03-3019932,500Resale
524 Moss View Way$423,800$1392016-03-0319943,043Resale
544 Moss View Way$349,500$1202016-02-1619912,921Resale
414 Frank Shaw Rd$320,000$1242015-12-2419942,583Resale
3653 Dwight Davis Dr$307,500$1422015-11-2019892,158Resale
441 Frank Shaw Rd$380,000$1442015-11-1719992,635Resale
3636 Dexter Dr$436,500$1632015-11-1219912,678Resale
3670 Letitia Ln$297,900$1392015-10-3019942,140Resale
564 Rhoden Cove Rd$380,000$1282015-09-0319902,976Resale
3646 Letitia Ln$375,000$1342015-07-1019982,808Resale
3663 Uncle Glover Rd$310,000$1242015-06-1519982,500Resale
491 Frank Shaw Rd$450,000$1322015-06-0319963,403Resale
576 Rhoden Cove Rd$318,000$1242015-05-1319892,560Resale
503 Frank Shaw Rd$362,500$1592015-05-0119932,282Resale
3798 Sally Ln$321,500$1392015-04-2919852,309Resale

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

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