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Piney Z Will Post 8 Straight Years Of Declining Home Sales

Home sales in Piney Z have been on a steady decline since 2003, and 2011 appears poised to set another new market bottom for unit sales. There have only been 22 closed home sales through late October, and without a huge surge it is highly unlikely that 2011 will surpass the previous bottom of 31 homes sold in 2010.

This is clearly the case of home owners “holding on” trying to find higher prices. I suspect we will start to see homeowners begin to be overcome by the market momentum next year and home values could 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 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 Recent Home Sales In Piney Z

(Reminder: If you subscribe to the Tallahassee Real Estate Blog by email, you will need to click the headline of this post to visit the blog and use the interactive Piney Z Home Sales Map)

Home Prices In Piney Z

Piney Z Home Prices Tallahassee Florida

Home prices in Piney Z have dropped from a high average of $260K established in 2006, to the current level of $199K. This is a decline of 23% which is stronger than much of the rest of the Tallahassee housing market. The graph below shows unit sales (green for arms length, red for distressed sales) and average prices are plotted in brown.

Home Values In Piney Z

Piney Z Home Values Tallahassee Florida

Home values have dropped even with prices, with the high in 2006 of $145 per square foot having dropped 23% to $111 per square foot so far this year. 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.

Recent Home Sales In Piney Z

Address Sales Price Price/SQF Closing Date Year Built SQF Type
751 Eagle View Drive $263,000 $102 10/27/2011 2004 2,575 SF
861 Piney Village Loop $245,000 $114 9/30/2011 2005 2,150 SF
979 Watersview Drive $275,000 $107 9/30/2011 2004 2,581 SF
1187 Landings Loop $177,375 $121 9/12/2011 2001 1,465 TH
844 Eagle View Drive $215,000 $125 8/31/2011 2004 1,723 SF
1150 Landings Loop $167,800 $112 8/2/2011 2002 1,501 TH
4779 Planters Ridge Drive $185,000 $121 8/1/2011 2000 1,535 SF
825 Eagle View Drive $250,000 $106 7/29/2011 2005 2,364 SF
856 Eagle View Dr $245,500 $106 7/28/2011 2001 2,316 SF
1084 Landings Loop $159,000 $108 7/22/2011 2001 1,471 TH
4919 Heritage Park Blvd $190,000 $112 7/12/2011 2003 1,701 SF
1001 Piney Z Plantation Road $185,000 $115 7/1/2011 2000 1,614 SF
1090 High Meadow Drive $150,000 $105 6/15/2011 2002 1,427 SF
1068 Winter Lane $182,500 $124 5/20/2011 2005 1,471 SF
761 Eagle View Drive $262,500 $114 5/9/2011 2005 2,306 SF
1023 Kindgom Drive $147,000 $113 4/28/2011 2001 1,300 TH
1073 High Meadow Drive $159,905 $103 4/19/2011 2002 1,547 SF
1172 Landings Loop $176,650 $120 3/30/2011 2002 1,476 TH
1184 Landings Loop $180,000 $122 3/16/2011 2002 1,476 TH
1113 High Meadow Drive $196,000 $124 3/15/2011 2003 1,575 SF
4718 Planters Ridge Drive $165,000 $95 2/23/2011 2004 1,743 SF
1133 High Meadow Drive $202,500 $105 1/31/2011 2001 1,930 SF
4741 Plantation View $240,000 $111 12/30/2010 2002 2,169 SF
925 Piney Z Plantation Rd. $293,500 $141 12/15/2010 2000 2,084 SF
4902 Planters Ridge Dr $178,400 $105 12/14/2010 2000 1,707 SF
949 Park View Drive $255,000 $124 11/23/2010 2001 2,054 SF
4580 Heritage Park Blvd. $248,980 $123 11/15/2010 2008 2,026 SF
939 Park View Drive $275,800 $114 11/15/2010 2002 2,412 SF
801 Eagle View Drive $260,000 $100 11/10/2010 2003 2,603 SF
1020 Landings Lp $153,000 $100 10/28/2010 2001 1,535 TH
4860 Lake Park Drive $245,000 $118 10/15/2010 2001 2,084 SF
1055 Park View $213,500 $124 8/3/2010 1999 1,723 SF
4725 Plantation View Dr $231,000 $127 7/30/2010 2002 1,812 SF
872 Piney Village Loop $260,000 $115 7/30/2010 2007 2,267 SF
959 Lone Feather Drive $288,000 $111 7/30/2010 2001 2,584 SF
1032 Kingdom Drive $172,000 $116 7/30/2010 2001 1,479 TH
953 Park View $269,500 $134 7/20/2010 2001 2,013 SF
4702 Planters Ridge Drive $189,200 $131 6/30/2010 2009 1,440 SF
4704 Planters Ridge Dr $165,000 $118 6/18/2010 2002 1,393 SF
921 Piney Z Plantation Rd $355,500 $129 6/11/2010 2001 2,763 SF
1064 Kingdom Drive $160,000 $97 6/4/2010 2001 1,642 TH
1075 Park View Drive $230,300 $130 5/30/2010 2002 1,778 SF
4714 Planters Ridge Drive $200,000 $120 5/24/2010 2003 1,669 SF
813 Eagle View Drive $265,900 $124 5/14/2010 2003 2,149 SF
1108 Landings Loop $181,500 $120 4/29/2010 2002 1,514 TH
1060 Winter Lane $201,000 $137 4/16/2010 2003 1,463 SF
1165 High Meadow Drive $180,000 $106 4/2/2010 2002 1,692 SF
1041 Landings Loop $170,000 $125 3/29/2010 2001 1,358 TH
1077 Piney-Z Plantation Road $179,000 $120 3/26/2010 2002 1,492 SF
1023 Landings Loop $178,000 $116 3/16/2010 2001 1,535 TH
4889 Lake Park Dr $195,000 $119 3/15/2010 2001 1,643 SF
977 Watersview Dr $215,000 $109 2/24/2010 2003 1,973 SF
628 Eagle View Circle $267,000 $127 1/29/2010 2002 2,108 SF

Remember to check back again for more updates on Piney Z Home Sales.

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