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Pine Tip Hills Reports 41% Decline In Home Prices

We have been reviewing the top neighborhoods in Tallahassee for the past few weeks in an attempt to identify the rate at which home values are changing, and we've chosen the subdivisions that have the most sales over the past year because they give us more information from which to work. But occasionally we get a reader request for a neighborhood that has fewer sales, and today is one such day where we will take a look at Pine Tip Hills in Northeast Tallahassee.

Recently, "Nancy" asked

"Mr. Manausa, Why don't you ever have Pine Tip Hills on your lists????"

So Nancy, today's review of Pine Tip Hills in Tallahassee is just for you :).

Pine Tip Hills In Tallahassee

There have only been four homes sold in Pine Tip Hills over the past 12 months in the Tallahassee MLS, so the confidence level in our data is not the same as it would be for a neighborhood that has seen a hundred home sales during the same time period (for example, Southwood in Southeast Tallahassee).

Home prices in Pine Tip Hills continue to fall in a similar manner as the rest of the Tallahassee real estate market. Our previous analysis on Pine Tip Hills was performed in January 2010 (also at the request of Nancy :)) and we have only recorded 5 sales in the Tallahassee MLS over that 16 month period of time.

One large sale (a home that was marketed at $1.9M sold for $750K) has had a large impact on the limited data, but the overall trend is still apparent. The average sales price of a home in Pine Tip Hills has dropped 41% since the peak of the housing market in 2006.

Pine Tip Hills Home Prices Home values in Pine Tip Hills have fared better than the price movement shows. When we look at the sales price of homes measured against the home sizes, the resulting price per square foot of homes in Pine Tip Hills has dropped roughly 29% since 2006. Pine Tip Hills Home Values

If you are thinking about selling a home in Pine Tip Hills, then you should be aware of the falling values and the urgency in finding a buyer sooner rather than later. The advice for home sellers is the same here as it is with the rest of the Tallahassee real estate market... sell fast to get your top price. The longer you wait, the less money you will get for your home.

List of Recent Home Sales In Pine Tip Hills

Neighborhood Address SP Price/SQF Closing Date Year Built SQF
Pine Tip Hills 3653 Dwight Davis Drive $277,000 $125 4/29/2011 1989 2,216
Pine Tip Hills 532 Moss View Way $310,000 $110 4/29/2011 2001 2,827
Pine Tip Hills 584 Frank Shaw Road $750,000 $88 8/31/2010 2006 8,500
Pine Tip Hills 552 Moss View Way $395,000 $116 6/29/2010 1991 3,397
Pine Tip Hills 566 Rawls Road $340,000 $149 5/18/2010 1990 2,279
Pine Tip Hills 3664 Letitia Lane $360,000 $142 8/6/2009 1995 2,541
Pine Tip Hills 3807 Sampson Ct $424,900 $151 6/15/2009 1996 2,821
Pine Tip Hills 3658 Dwight Davis Drive $360,000 $152 4/24/2009 1989 2,365
Pine Tip Hills 532 Frank Shaw Road $465,000 $110 4/17/2009 1996 4,229
Pine Tip Hills 3601 Uncle Glover Rd $386,900 $137 3/6/2009 1997 2,834
Pine Tip Hills 3659 Dexter Drive $348,500 $141 9/30/2008 1986 2,465
Pine Tip Hills 3663 Uncle Glover Rd $395,000 $158 3/31/2008 1998 2,500
Pine Tip Hills 495 Frank Shaw Rd. $429,000 $163 3/17/2008 1995 2,639
Pine Tip Hills 523 Moss View Way $405,000 $152 2/8/2008 1994 2,668
Pine Tip Hills 3674 Letitia Ln $380,000 $148 11/30/2007 1997 2,568
Pine Tip Hills 532 Moss View Way $369,900 $131 11/15/2007 2001 2,827
Pine Tip Hills 3981 Frank Shaw Lane $482,500 $156 10/8/2007 1998 3,100
Pine Tip Hills 485 Teenie Ct $435,000 $157 5/15/2007 1994 2,768
Pine Tip Hills 540 Moss View Way $475,000 $158 5/14/2007 2002 3,009
Pine Tip Hills 448 Frank Shaw Road $385,000 $159 4/24/2007 1994 2,419
Pine Tip Hills 3609 Uncle Glover $475,000 $148 3/15/2007 1993 3,207
Pine Tip Hills 524 Moss View Way $490,000 $162 3/15/2007 1994 3,025
Pine Tip Hills 3684 Letitia Lane $455,000 $160 11/6/2006 1997 2,844
Pine Tip Hills 3656 Uncle Glover $460,000 $173 7/31/2006 1992 2,660
Pine Tip Hills 3628 Pine Tip Rd $512,500 $152 7/28/2006 1987 3,368
Pine Tip Hills 3648 Uncle Glover Rd $610,000 $181 6/14/2006 1997 3,379
Pine Tip Hills 536 Frank Shaw Road $519,000 $171 5/5/2006 1993 3,044
Pine Tip Hills 3712 Sally Lane $327,000 $141 1/13/2006 1989 2,318
Pine Tip Hills 3662 Uncle Glover Rd $360,000 $146 8/19/2005 1995 2,470
Pine Tip Hills 3670 Letitia Ln. $329,900 $156 7/26/2005 1994 2,115
Pine Tip Hills 3627 Uncle Glover $449,000 $151 5/13/2005 96 2,973
Pine Tip Hills 3664 Letitia Lane $395,000 $154 5/2/2005 1995 2,565
Pine Tip Hills 3682 Letitia Lane $365,000 $136 3/31/2005 1995 2,693
Pine Tip Hills 536 Moss View Way $490,000 $139 3/18/2005 2002 3,515
Pine Tip Hills 566 Rawls Road $375,000 $162 9/20/2004 1990 2,310
Pine Tip Hills 524 Moss ViewWay $308,000 $105 8/31/2004 1994 2,924
Pine Tip Hills 3698 Dwight Davis Drive $299,900 $120 6/28/2004 1991 2,497
Pine Tip Hills 3653 Dwight Davis Drive $312,000 $141 6/11/2004 1989 2,216
Pine Tip Hills 739 Rhoden Cove $345,000 $121 6/9/2004 1985 2,844
Pine Tip Hills 434 Frank Shaw Road $260,000 $115 12/23/2003 1992 2,254
Pine Tip Hills 3643 Dexter Drive $230,000 $119 10/17/2003 1990 1,933
Pine Tip Hills 3609 Uncle Glover $312,500 $104 6/30/2003 1993 3,000
Pine Tip Hills 3606 Dexter Drive $279,000 $98 3/20/2003 1991 2,861
Pine Tip Hills 434 Frank Shaw Road $249,000 $96 2/27/2003 1992 2,600

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