Piney Z Home Sales Coming Off 8 Straight Declining Years
Piney Z home sales were down significantly in 2011, and a new "low" was hit with only 28 homes sold in 2011, down 10% from 2010. This means we have seen 8 straight declining years, something that I have not seen often from the rest of the Tallahassee real estate market.
Typically, when we see unit sales decline faster than the rest of the market, we are experiencing a Tallahassee neighborhood where home owners are “holding on” trying to find higher prices. This can work for a short period of times in a stronger market, but at some point, capitulation will kick-in and we'll see major price declines as Piney Z home sellers compete with each other for the declining buyers.
I suspect we will start to see homeowners begin to be overcome by the market momentum this year and home values will likely decline at a rapid rate.
This has happened in other areas of the Tallahassee real estate market when home sellers held onto their asking price while the rest of the market continued to decline. Don’t expect Piney Z home sales levels to return until home sellers begin to price their homes competitively with the rest of the homes for sale in Tallahassee.
Map of Piney Z Home Sales
The following map shows Piney Z Home Sales for the past few years (you must view the map on the Tallahassee Real Estate Blog site). Just click on any red dot to see the details of the sale.
Piney Z Home Prices
Piney Z Home Prices have dropped from a high average of $260K established in 2006, to the current level of $192K set last year (it's too early to establish a price point for 2012). This is a decline of 26% which is stronger than much of the rest of the Tallahassee housing market, but falling fast. The graph below shows unit sales (green for arms length, red for distressed sales) and average prices are plotted in brown.
Piney Z Home Values
Piney Z home values have dropped even slower than prices, with the high in 2006 of $145 per square foot having dropped 23% to $111 per square foot in 2011. If I were a homeowner needing to sell a home in the next few years, I would sell it now and sell it fast. Value changes will catch up with the rest of Tallahassee, and this means that if you must sell a home in Piney Z, the highest value that you will receive over the next five to seven years is right now.
Piney Z Home Sales By Type
When we look at Piney Z home sales, segregated by property type, we see something a bit unusual... Last year, the average townhome in Piney Z sold for a bit higher than in previous years, while the average single family Piney Z home value plummeted. I think we'll see this trend (for town homes) reverse this year, as single family homes drop down close in price to single family homes.
Recent Piney Z Home Sales
| Address | Sales Price | Price/SQF | Closing Date | Year Built | SQF | Type |
| 1020 Piney Z Plantation Rd | $175,000 | $108 | 1/3/2012 | 2002 | 1,621 | Arms Length |
| 1036 Park View Dr | $153,000 | $105 | 12/29/2011 | 2001 | 1,461 | Distressed |
| 1059 Kingdom Drive | $155,000 | $106 | 12/20/2011 | 2001 | 1,461 | Distressed |
| 4870 Heritage Park Blvd | $188,000 | $113 | 12/19/2011 | 2002 | 1,659 | Arms Length |
| 1134 High Meadow Drive | $175,000 | $109 | 12/13/2011 | 2003 | 1,602 | Arms Length |
| 1019 Kingdom Drive | $157,000 | $119 | 11/22/2011 | 2001 | 1,320 | Arms Length |
| 1137 High Meadow Dr | $170,000 | $110 | 10/28/2011 | 2002 | 1,552 | Arms Length |
| 751 Eagle View Drive | $263,000 | $102 | 10/27/2011 | 2004 | 2,575 | Distressed |
| 979 Watersview Drive | $275,000 | $107 | 9/30/2011 | 2004 | 2,581 | Arms Length |
| 861 Piney Village Loop | $245,000 | $114 | 9/30/2011 | 2005 | 2,150 | Arms Length |
| 1187 Landings Loop | $177,375 | $121 | 9/12/2011 | 2001 | 1,465 | Arms Length |
| 844 Eagle View Drive | $215,000 | $125 | 8/31/2011 | 2004 | 1,723 | Arms Length |
| 1150 Landings Loop | $167,800 | $112 | 8/2/2011 | 2002 | 1,501 | Distressed |
| 4779 Planters Ridge Drive | $185,000 | $121 | 8/1/2011 | 2000 | 1,535 | Arms Length |
| 825 Eagle View Drive | $250,000 | $106 | 7/29/2011 | 2005 | 2,364 | Arms Length |
| 856 Eagle View Dr | $245,500 | $106 | 7/28/2011 | 2001 | 2,316 | Arms Length |
| 1084 Landings Loop | $159,000 | $108 | 7/22/2011 | 2001 | 1,471 | Arms Length |
| 4919 Heritage Park Blvd | $190,000 | $112 | 7/12/2011 | 2003 | 1,701 | Arms Length |
| 1001 Piney Z Plantation Road | $185,000 | $115 | 7/1/2011 | 2000 | 1,614 | Arms Length |
| 1090 High Meadow Drive | $150,000 | $105 | 6/15/2011 | 2002 | 1,427 | Arms Length |
| 1068 Winter Lane | $182,500 | $124 | 5/20/2011 | 2005 | 1,471 | Arms Length |
| 761 Eagle View Drive | $262,500 | $114 | 5/9/2011 | 2005 | 2,306 | Arms Length |
| 1023 Kindgom Drive | $147,000 | $113 | 4/28/2011 | 2001 | 1,300 | Arms Length |
| 1073 High Meadow Drive | $159,905 | $103 | 4/19/2011 | 2002 | 1,547 | Distressed |
| 1172 Landings Loop | $176,650 | $120 | 3/30/2011 | 2002 | 1,476 | Arms Length |
| 1184 Landings Loop | $180,000 | $122 | 3/16/2011 | 2002 | 1,476 | Arms Length |
| 1113 High Meadow Drive | $196,000 | $124 | 3/15/2011 | 2003 | 1,575 | Arms Length |
| 4718 Planters Ridge Drive | $165,000 | $95 | 2/23/2011 | 2004 | 1,743 | Distressed |
| 1133 High Meadow Drive | $202,500 | $105 | 1/31/2011 | 2001 | 1,930 | Arms Length |
| 4741 Plantation View | $240,000 | $111 | 12/30/2010 | 2002 | 2,169 | Arms Length |
| 925 Piney Z Plantation Rd. | $293,500 | $141 | 12/15/2010 | 2000 | 2,084 | Arms Length |
| 4902 Planters Ridge Dr | $178,400 | $105 | 12/14/2010 | 2000 | 1,707 | Distressed |
| 949 Park View Drive | $255,000 | $124 | 11/23/2010 | 2001 | 2,054 | Arms Length |
| 939 Park View Drive | $275,800 | $114 | 11/15/2010 | 2002 | 2,412 | Arms Length |
| 4580 Heritage Park Blvd. | $248,980 | $123 | 11/15/2010 | 2008 | 2,026 | Arms Length |
| 801 Eagle View Drive | $260,000 | $100 | 11/10/2010 | 2003 | 2,603 | Arms Length |
| 1020 Landings Lp | $153,000 | $100 | 10/28/2010 | 2001 | 1,535 | Arms Length |
| 4860 Lake Park Drive | $245,000 | $118 | 10/15/2010 | 2001 | 2,084 | Arms Length |
| 1055 Park View | $213,500 | $124 | 8/3/2010 | 1999 | 1,723 | Arms Length |
| 959 Lone Feather Drive | $288,000 | $111 | 7/30/2010 | 2001 | 2,584 | Distressed |
| 872 Piney Village Loop | $260,000 | $115 | 7/30/2010 | 2007 | 2,267 | Distressed |
| 1032 Kingdom Drive | $172,000 | $116 | 7/30/2010 | 2001 | 1,479 | Arms Length |
| 4725 Plantation View Dr | $231,000 | $127 | 7/30/2010 | 2002 | 1,812 | Arms Length |
| 953 Park View | $269,500 | $134 | 7/20/2010 | 2001 | 2,013 | Arms Length |
| 4702 Planters Ridge Drive | $189,200 | $131 | 6/30/2010 | 2009 | 1,440 | Arms Length |
| 4704 Planters Ridge Dr | $165,000 | $118 | 6/18/2010 | 2002 | 1,393 | Distressed |
| 921 Piney Z Plantation Rd | $355,500 | $129 | 6/11/2010 | 2001 | 2,763 | Arms Length |
| 1064 Kingdom Drive | $160,000 | $97 | 6/4/2010 | 2001 | 1,642 | Distressed |
| 1075 Park View Drive | $230,300 | $130 | 5/30/2010 | 2002 | 1,778 | Arms Length |
| 4714 Planters Ridge Drive | $200,000 | $120 | 5/24/2010 | 2003 | 1,669 | Arms Length |
| 813 Eagle View Drive | $265,900 | $124 | 5/14/2010 | 2003 | 2,149 | Arms Length |
| 1108 Landings Loop | $181,500 | $120 | 4/29/2010 | 2002 | 1,514 | Arms Length |
| 1060 Winter Lane | $201,000 | $137 | 4/16/2010 | 2003 | 1,463 | Arms Length |
| 1165 High Meadow Drive | $180,000 | $106 | 4/2/2010 | 2002 | 1,692 | Arms Length |
| 1041 Landings Loop | $170,000 | $125 | 3/29/2010 | 2001 | 1,358 | Arms Length |
| 1077 Piney-Z Plantation Road | $179,000 | $120 | 3/26/2010 | 2002 | 1,492 | Arms Length |
| 1023 Landings Loop | $178,000 | $116 | 3/16/2010 | 2001 | 1,535 | Arms Length |
| 4889 Lake Park Dr | $195,000 | $119 | 3/15/2010 | 2001 | 1,643 | Arms Length |
| 977 Watersview Dr | $215,000 | $109 | 2/24/2010 | 2003 | 1,973 | Distressed |
| 628 Eagle View Circle | $267,000 | $127 | 1/29/2010 | 2002 | 2,108 | Arms Length |
| 4739 Planters Ridge | $214,000 | $124 | 12/29/2009 | 2002 | 1,729 | Arms Length |
| 4874 Heritage Park Boulevard | $178,000 | $111 | 12/21/2009 | 2002 | 1,602 | Arms Length |
| 625 Eagle View Cir. | $295,000 | $120 | 12/17/2009 | 2002 | 2,468 | Arms Length |
| 1072 Winter Ln | $175,000 | $120 | 11/20/2009 | 2000 | 1,459 | Arms Length |
| 1003 Kingdom Drive | $160,000 | $121 | 11/20/2009 | 2001 | 1,321 | Arms Length |
| 1022 High Meadow Dr | $212,000 | $111 | 10/29/2009 | 2003 | 1,912 | Arms Length |
| 1067 Kingdom Drive | $178,000 | $120 | 10/21/2009 | 2001 | 1,479 | Arms Length |
| 1141 High Meadow Dr | $180,000 | $113 | 9/30/2009 | 2002 | 1,586 | Arms Length |
| 4882 Heritage Park Boulevard | $202,500 | $118 | 9/21/2009 | 2002 | 1,716 | Arms Length |
| 4909 Parkview Court | $185,000 | $104 | 9/14/2009 | 2000 | 1,774 | Distressed |
| 836 Eagle View Drive | $255,000 | $125 | 9/4/2009 | 2004 | 2,036 | Arms Length |
| 685 Eagle View Cir | $320,000 | $127 | 8/28/2009 | 2004 | 2,515 | Arms Length |
| 821 Piney Village Loop | $235,000 | $120 | 7/30/2009 | 2003 | 1,960 | Distressed |
| 964 Park View Drive | $232,000 | $117 | 7/17/2009 | 2001 | 1,983 | Arms Length |
| 1036 Park View Drive | $195,000 | $133 | 6/30/2009 | 2001 | 1,461 | Arms Length |
| 4732 Plantation View Drive | $280,000 | $119 | 6/22/2009 | 2006 | 2,351 | Arms Length |
| 1045 Landings Loop | $170,000 | $106 | 6/22/2009 | 2001 | 1,599 | Arms Length |
| 780 Eagle View Drive | $251,000 | $122 | 6/15/2009 | 2003 | 2,059 | Arms Length |
| 750 Eagle View Drive | $268,000 | $102 | 6/12/2009 | 2002 | 2,625 | Arms Length |
| 4590 Heritage Park Blvd. | $283,980 | $144 | 6/4/2009 | 2009 | 1,973 | Arms Length |
| 4919 Planters Ridge Dr | $196,000 | $130 | 6/1/2009 | 2000 | 1,506 | Arms Length |
| 905 Piney Z Plantation Road | $265,000 | $114 | 5/22/2009 | 2000 | 2,315 | Arms Length |
| 4837 Planters Ridge Dr | $195,500 | $122 | 5/22/2009 | 2003 | 1,600 | Arms Length |
| 4905 Park View Court | $167,500 | $97 | 5/22/2009 | 2001 | 1,729 | Arms Length |
| 1213 Landings Loop | $180,000 | $123 | 5/14/2009 | 2001 | 1,461 | Arms Length |
| 1148 Winter Lane | $165,000 | $111 | 5/7/2009 | 2002 | 1,483 | Arms Length |
| 974 Park View Drive | $247,500 | $136 | 4/17/2009 | 2002 | 1,815 | Arms Length |
| 1037 Piney Z Plantation Road | $182,500 | $125 | 4/17/2009 | 2001 | 1,460 | Arms Length |
| 4915 Planters Ridge Drive | $226,000 | $129 | 4/10/2009 | 1999 | 1,755 | Arms Length |
| 765 Eagle View Dr | $305,000 | $124 | 3/12/2009 | 2004 | 2,468 | Arms Length |
| 1018 High Meadow Drive | $194,000 | $123 | 3/9/2009 | 2002 | 1,575 | Arms Length |
| 4726 Planters Ridge Drive | $200,000 | $117 | 3/3/2009 | 2003 | 1,711 | Arms Length |
| 4907 Heritage Park Boulevard | $190,000 | $112 | 1/16/2009 | 2003 | 1,701 | Distressed |
| 1057 Landings Loop | $175,000 | $120 | 12/12/2008 | 2001 | 1,459 | Arms Length |
| 1150 Landings Loop | $180,000 | $120 | 11/24/2008 | 2002 | 1,501 | Arms Length |
| 4877 Lake Park Drive | $270,000 | $120 | 11/17/2008 | 2003 | 2,258 | Arms Length |
| 4759 Planters Ridge Drive | $214,000 | $131 | 11/14/2008 | 2004 | 1,632 | Arms Length |
| 4915 Heritage Park Boulevard | $225,000 | $130 | 10/26/2008 | 2003 | 1,737 | Arms Length |
| 669 Eagle View Circle | $315,000 | $124 | 10/14/2008 | 2003 | 2,537 | Arms Length |
| 4751 Planters Ridge Drive | $208,000 | $136 | 10/10/2008 | 2001 | 1,531 | Arms Length |
| 1168 Landings Loop | $187,500 | $127 | 10/10/2008 | 2002 | 1,478 | Arms Length |
| 1162 High Meadow | $185,000 | $129 | 10/3/2008 | 2001 | 1,430 | Arms Length |
| 911 Parkview Drive | $275,000 | $133 | 10/1/2008 | 2001 | 2,062 | Arms Length |
| 1047 Park View Drive | $215,000 | $123 | 9/24/2008 | 1999 | 1,753 | Arms Length |
| 825 Eagle View Drive | $260,000 | $110 | 9/19/2008 | 2005 | 2,364 | Arms Length |
| 4917 Lake Park | $230,000 | $135 | 9/12/2008 | 2002 | 1,710 | Arms Length |
| 4650 Soaring Wy. | $332,000 | $130 | 9/4/2008 | 2003 | 2,547 | Arms Length |
| 742 Eagle View Drive | $345,000 | $137 | 8/8/2008 | 2002 | 2,516 | Arms Length |
| 1025 Parkview Dr | $248,000 | $134 | 7/21/2008 | 2000 | 1,855 | Arms Length |
| 817 Eagle View | $282,500 | $133 | 7/17/2008 | 2003 | 2,125 | Arms Length |
| 1148 Landings Loop | $200,000 | $137 | 7/7/2008 | 2002 | 1,459 | Arms Length |
| 1108 Winter Ln | $190,000 | $138 | 7/7/2008 | 2002 | 1,374 | Arms Length |
| 1055 Parkview Dr | $205,000 | $119 | 6/24/2008 | 1999 | 1,723 | Arms Length |
| 1096 Landings Loop | $187,500 | $131 | 6/23/2008 | 2001 | 1,426 | Arms Length |
| 1032 Kingdom Drive | $185,000 | $125 | 6/20/2008 | 2001 | 1,479 | Arms Length |
| 1149 Landings Loop | $190,000 | $127 | 6/20/2008 | 2001 | 1,495 | Arms Length |
| 868 Eagleview Drive | $351,000 | $144 | 6/9/2008 | 2007 | 2,439 | Arms Length |
| 1015 Kingdom Drive | $167,000 | $126 | 5/30/2008 | 2002 | 1,321 | Arms Length |
| 1112 Winter Lane | $200,000 | $134 | 5/9/2008 | 2003 | 1,494 | Arms Length |
| 4661 Nesting Trail | $272,000 | $130 | 5/8/2008 | 2002 | 2,097 | Arms Length |
| 1137 Winter Lane | $213,000 | $137 | 4/30/2008 | 2000 | 1,555 | Arms Length |
| 989 Parkview Dr | $321,000 | $168 | 4/25/2008 | 2002 | 1,912 | Arms Length |
| 1221 Landings Loop | $207,000 | $142 | 4/21/2008 | 2003 | 1,456 | Arms Length |
| 874 Piney Village Loop | $368,000 | $155 | 4/17/2008 | 2007 | 2,372 | Arms Length |
| 4856 Lake Park Drive | $297,500 | $140 | 4/10/2008 | 2004 | 2,120 | Arms Length |
| 4710 Planters Ridge Drive | $208,500 | $135 | 3/28/2008 | 2002 | 1,549 | Arms Length |
| 861 Eagle View Drive | $372,900 | $130 | 3/10/2008 | 2007 | 2,873 | Arms Length |
| 1149 Winter Lane | $198,000 | $145 | 2/29/2008 | 2004 | 1,362 | Arms Length |
| 729 Eagle View Drive | $350,000 | $142 | 2/29/2008 | 2004 | 2,458 | Arms Length |
| 1174 High Meadow | $200,000 | $129 | 2/29/2008 | 1999 | 1,550 | Arms Length |
| 1072 Kingdom Dr | $190,000 | $125 | 2/29/2008 | 2002 | 1,517 | Arms Length |
Please check back again in the future for more Piney Z home sales reports.
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