Summerbrooke Existing Home Sales On Steady Decline
Tallahassee has quite a few golf courses and most of them have neighborhoods that are built around and through the golf courses. In the northeast quadrant of Tallahassee, you can find the Summerbrooke neighborhood which is also built around a locally developed golf course.
The Tallahassee Real Estate Blog often visits Summerbrooke in order to keep our readers informed of the activity in the housing market. As we have seen (and reported) in the past, Summerbrooke home sales continue to be affected by the market as much as any other neighborhood in Tallahassee.
Summerbrooke Home Sales Stabilizing At 2 Per Month
When we measure the trend of recent home sales in Summerbrooke, we can see the market has plummeted 63% from the peak when more than 6 resale homes per month were selling. It appears as if the Summerbrooke housing market has stabilized at about 2 homes selling monthly.
The average home price in Summerbrooke has dropped 20% since the peak of the market. The red shaded area in the real estate graph above shows how rapidly average home prices rose, and how they have come back about 1/3rd of the way.
Home Values Continue Dropping In Summerbrooke
When we look at the average price per square foot of homes sold in Summerbrooke, we get an overall feel for how well home values have held. Valuations appear to have fallen roughly 16% since the peak of the market in 2006.
This graph also demonstrates how rapidly the home values in Summerbrooke appreciated, with values going from $92 per square foot in 2000 and the market cresting at $165 per square foot before the end of 2006. That is a real estate appreciation rate of 79% in less than 6 full years!
Because of the slow down in the Summerbrooke housing market, I suspect we are going to see more trimming of these huge gains. Currently, valuations are similar to what was seen in 2005, and with the glut of homes in this price range in northeast Tallahassee, the trend will continue to drop for at least the next 6 months.
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Recent "Arms Length" Existing Home Sales In Summerbrooke
| Parcel Address | Price | SqFt HC | Sale Date |
| 924 SUMMERBROOKE DR | $360,000 | 2,294 | 8/31/2009 |
| 1276 CONSERVANCY DR E | $395,000 | 2,980 | 8/13/2009 |
| 1044 SUMMERBROOKE DR | $380,000 | 3,329 | 8/11/2009 |
| 1136 GREENSWARD DR | $383,000 | 2,447 | 8/10/2009 |
| 893 SUMMERBROOKE DR | $309,000 | 2,822 | 8/10/2009 |
| 1009 SUMMERBROOKE DR | $412,500 | 2,404 | 8/7/2009 |
| 637 SUMMERBROOKE DR | $374,000 | 2,956 | 8/4/2009 |
| 7874 PRESERVATION RD | $325,000 | 2,363 | 7/24/2009 |
| 7734 CRICKLEWOOD DR | $400,000 | 3,326 | 7/10/2009 |
| 1337 CONSERVANCY DR E | $335,000 | 2,263 | 6/29/2009 |
| 7912 PRESERVATION RD | $315,000 | 2,239 | 5/22/2009 |
| 1359 CONSERVANCY CT E | $277,500 | 2,153 | 5/7/2009 |
| 7110 HERITAGE RIDGE RD | $369,000 | 2,523 | 5/6/2009 |
| 7510 PRESERVATION RD | $485,000 | 2,847 | 5/6/2009 |
| 7516 PRESERVATION RD | $376,000 | 2,450 | 4/24/2009 |
| 1228 GREENSWARD DR | $460,000 | 3,032 | 4/3/2009 |
| 1346 CONSERVANCY DR E | $385,000 | 2,940 | 4/3/2009 |
| 7845 PRESERVATION RD | $240,000 | 2,151 | 3/16/2009 |
| 6520 SPICEWOOD LN | $325,000 | 2,436 | 2/6/2009 |
| 8086 RONDS POINTE CT | $370,000 | 2,448 | 1/12/2009 |
| 7477 PRESERVATION RD | $550,000 | 3,641 | 12/10/2008 |
| 7708 PRESERVATION RD | $410,000 | 2,910 | 12/5/2008 |
| 1144 GREENSWARD DR | $365,000 | 2,799 | 12/2/2008 |
| 1383 CONSERVANCY DR E | $360,000 | 2,700 | 11/24/2008 |
| 8116 BLENHEIM LN | $342,900 | 2,448 | 11/21/2008 |
| 1435 CONSERVANCY DR E | $439,000 | 2,961 | 10/31/2008 |
| 8129 VIBURNUM CT | $390,000 | 2,891 | 10/27/2008 |
| 7585 PRESERVATION RD | $440,000 | 3,217 | 9/12/2008 |
| 917 SUMMERBROOKE DR | $535,000 | 3,018 | 9/5/2008 |
| 7133 WOODED GORGE RD | $440,000 | 3,622 | 8/1/2008 |
| 1108 GREENSWARD DR | $452,500 | 3,203 | 7/30/2008 |
| 1209 CONSERVANCY DR E | $315,000 | 2,318 | 7/9/2008 |
| 1224 GREENSWARD DR | $540,000 | 3,386 | 6/30/2008 |
| 1435 CONSERVANCY DR E | $440,000 | 2,961 | 6/30/2008 |
| 512 SUMMERBROOKE DR | $450,000 | 2,530 | 6/27/2008 |
| 1378 CONSERVANCY DR E | $415,000 | 2,661 | 6/20/2008 |
| 8124 BLENHEIM LN | $334,000 | 2,532 | 6/11/2008 |
| 1060 SUMMERBROOKE DR | $460,000 | 3,004 | 6/10/2008 |
| 1400 CONSERVANCY DR E | $380,000 | 2,573 | 5/15/2008 |
| 1304 CONSERVANCY DR E | $435,000 | 2,813 | 5/1/2008 |
| 1112 LOCHKNOLL CT | $630,000 | 3,717 | 4/25/2008 |
| 8136 VIBURNUM CT | $380,000 | 2,768 | 3/21/2008 |
| 883 HILL ROOST RD | $319,300 | 2,178 | 3/21/2008 |
| 874 HILL ROOST RD | $489,900 | 3,158 | 3/21/2008 |
| 1391 CONSERVANCY DR E | $365,000 | 2,437 | 3/5/2008 |
| 7083 SPICEWOOD LN | $315,000 | 2,128 | 1/31/2008 |
| 7540 PRESERVATION RD | $465,000 | 2,728 | 1/18/2008 |
| 7116 WOODED GORGE RD | $390,000 | 2,360 | 1/7/2008 |
| 7695 WILLOW BASTIC CT | $365,000 | 2,501 | 1/5/2008 |
| 7684 PRESERVATION RD | $373,000 | 2,543 | 12/27/2007 |
| 7993 PRESERVATION RD | $385,000 | 2,570 | 12/27/2007 |
| 940 SUMMERBROOKE DR | $365,000 | 2,543 | 11/16/2007 |
| 1113 LOCHKNOLL CT | $800,000 | 4,037 | 11/5/2007 |
| 7501 REFUGE RD | $505,000 | 2,847 | 11/2/2007 |
| 7727 PRESERVATION RD | $470,000 | 2,578 | 10/31/2007 |
| 1328 CONSERVANCY DR E | $450,000 | 2,859 | 10/30/2007 |
| 8071 LONGMEADOW DR | $355,000 | 2,694 | 10/15/2007 |
| 1112 GREENSWARD DR | $330,000 | 2,338 | 10/9/2007 |
| 7894 RAEL CT | $585,000 | 10/9/2007 | |
| 7923 PRESERVATION RD | $475,000 | 2,625 | 8/20/2007 |
| 1307 CONSERVANCY DR E | $360,000 | 2,233 | 8/15/2007 |
| 7064 SPICEWOOD LN | $357,000 | 1,939 | 8/15/2007 |
| 6999 SPICEWOOD LN | $399,900 | 3,002 | 8/13/2007 |
| 1348 CONSERVANCY DR E | $525,000 | 2,732 | 8/7/2007 |
| 6680 SPICEWOOD LN | $435,000 | 2,837 | 7/27/2007 |
| 7542 REFUGE RD | $490,000 | 2,954 | 7/23/2007 |
| 7767 PRESERVATION RD | $385,900 | 2,474 | 7/6/2007 |
| 7959 PRESERVATION RD | $400,000 | 2,476 | 7/3/2007 |
| 7898 PRESERVATION RD | $387,000 | 2,181 | 6/29/2007 |
| 8157 PARTERRE CT | $420,000 | 2,458 | 6/15/2007 |
| 1212 CONSERVANCY DR E | $509,900 | 2,615 | 6/8/2007 |
| 1144 GREENSWARD DR | $430,000 | 2,808 | 6/4/2007 |
| 317 SUMMERBROOKE DR | $440,000 | 2,359 | 6/1/2007 |
| 7733 CRICKLEWOOD DR | $500,000 | 2,608 | 5/31/2007 |
| 980 SUMMERBROOKE DR | $387,500 | 2,526 | 4/23/2007 |
| 8060 PRESERVATION RD | $439,000 | 2,901 | 4/2/2007 |
| 7128 UPLAND GLADE | $337,900 | 2,377 | 3/30/2007 |
| 7130 NESTERS DR | $491,500 | 3,027 | 3/30/2007 |
| 7140 WOODED GORGE RD | $443,000 | 2,673 | 3/30/2007 |
| 7036 HERITAGE RIDGE RD | $460,000 | 3,187 | 3/19/2007 |
| 1431 CONSERVANCY DR E | $360,000 | 2,428 | 3/12/2007 |
| 7133 WOODED GORGE RD | $400,000 | 3,622 | 2/28/2007 |
| 7757 CRICKLEWOOD DR | $430,000 | 2,678 | 2/28/2007 |
| 7575 PRESERVATION RD | $499,000 | 3,110 | 2/27/2007 |
| 1204 WAX WING CT | $315,000 | 2,035 | 2/23/2007 |
| 1244 CONSERVANCY DR E | $465,000 | 2,683 | 2/16/2007 |
| 1315 CONSERVANCY DR E | $370,000 | 2,328 | 2/2/2007 |
| 1156 RONDS POINTE DR E | $459,900 | 2,806 | 1/18/2007 |
| 1356 CONSERVANCY DR E | $397,000 | 2,365 | 12/28/2006 |
| 1268 CONSERVANCY DR E | $440,000 | 3,033 | 12/27/2006 |
| 1268 CONSERVANCY DR E | $440,000 | 3,033 | 12/27/2006 |
| 7983 LOCHKNOLL LN | $495,000 | 2,911 | 12/22/2006 |
| 1220 GREENSWARD DR | $475,000 | 3,190 | 12/20/2006 |
| 1196 GREENSWARD DR | $525,000 | 3,090 | 12/15/2006 |
| 1205 GREENSWARD DR | $425,000 | 2,490 | 11/30/2006 |
| 8169 PARTERRE CT | $381,000 | 2,571 | 11/30/2006 |
| 7115 NESTERS DR | $535,000 | 3,180 | 11/22/2006 |
| 1356 CONSERVANCY DR E | $397,000 | 2,365 | 11/7/2006 |
| 7641 SUMMER TANAGER DR | $520,000 | 3,122 | 10/13/2006 |
| 1252 CONSERVANCY DR E | $610,000 | 3,944 | 10/12/2006 |
| 8122 VIBURNUM CT | $369,900 | 2,164 | 10/12/2006 |
| 1379 CONSERVANCY DR E | $425,000 | 2,826 | 10/2/2006 |
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Joe Manausa is a real estate blogger, a real estate investor and the Broker and Co-Owner of Joe Manausa Real Estate. He can be reached via e-mail through the Tallahassee Real Estate Website or catch his latest writings on the Tallahassee Florida Real Estate Blog , or by calling (850) 386-2001.
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