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New Trend In Tallahassee MLS Listings: Cause For Concern?

In a recent article where we took A Closer Look At The Houses For Sale In Tallahassee, we found a hearty dose of Tallahassee MLS listings that were being sold under distressed conditions.

The article prompted many people to reach out to me and ask me a variety of questions, but one recurring theme related to the segmentation of the market between homes that were investments versus homes for sale for occupancy.

People were curious to see if the distressed homes for sale were mostly those investment properties under $100K, or if the problem was widespread across all price points. Here's what I found:

Tallahassee MLS Listings Over $100,000

If we look at new Tallahassee MLS listings over the past few months, priced above $100,000, a potentially disturbing trend is occurring.

In the real estate graph below, we see that the thirty day trend of new listings above $100K is reporting significant growth in the percentage of distressed homes entering the market.

Tallahassee MLS Listings

So we have to wonder ... is this a short-term trend due to seasonal issues (discretionary sellers waiting until after the holidays versus non-discretionary sellers continuing to stream into the market) or are we finally seeing the wave of foreclosures that is due to arrive?

Time will tell, but rest assured, we'll be monitoring and reporting about it right here!

Recent Tallahassee MLS Listings

SUB Address Price Price /SQF Year Built SQF Arms Length
The Ravines 2481 Papillion Way $375,000 $117 1989 3,202 Yes
Piney Z 730 Eagle View Circle $245,000 $116 2003 2,109 Yes
Menlo Park 401 Flagler Street $105,000 $92 1945 1,136 Yes
Eastgate 2107 Wembley $149,900 $90 1976 1,668 No
Hartsfield Woods 2722 Leary Lane $109,700 $91 1984 1,200 Yes
KILLEARN FAIRWAY 3207 E SHAMROCK $117,000 $57 1989 2,068 Yes
High Colony 1267 Colony Court $124,900 $125 1988 1,000 Yes
Lehigh, Unit 3 2316 Mavis CIR $125,000 $96 1963 1,300 Yes
Terrence Heights 2418 Rosemary Terrace $138,500 $90 1972 1,533 Yes
Piedmont Park 919 Shadowlawn Drive $325,000 $154 1965 2,116 Yes
Northlake Meadows 7215 Old Bainbridge Road $130,000 $80 1993 1,624 No
Southwood 2566 Twain $409,900 $143 2006 2,861 Yes
Charleston Ridge 1320 HENDRIX RD $120,000 $77 2004 1,554 Yes
Golden Eagle Plantation 2814 Royal Isle Drive $399,900 $137 1999 2,914 Yes
Richview Park 412 Richview Park Circle $109,900 $105 1991 1,044 Yes
Stonegate 2534 Stonegate Drive $165,000 $108 1976 1,525 Yes
Groveland Hills 901 Groveland Hills Drive $185,000 $70 1978 2,652 No
Betton Hills, 5th Addition 1507 Belleau Wood Drive $250,000 $110 1964 2,274 Yes
Elmwood Estates 3070 Elmwood Road $249,000 $108 2007 2,300 Yes
Killearn Estates 3408 CLIFDENDrive $182,000 $110 1986 1,655 Yes
East Highlands 813 E Call $390,000 $124 1940 3,138 No
Bull Run 2574 Halleck Lane $269,900 $134 2010 2,008 Yes
Valley Green 1470 Valley Green Drive $124,000 $107 1991 1,162 No
KILLEARN ACRES 2930 WHIRLAWAY TRAIL $144,500 $96 1981 1,498 No
TOWN N COUNTRY PARK 2213 YAUPON DR $160,000 $98 1975 1,632 Yes
Avondale 1301 E Blakemore Ct. $225,000 $120 1990 1,870 Yes
Emerald Chase Unrec 3967 Emerald Chase Drive $165,000 $106 1993 1,554 Yes
Arbor Hill 2747 Vassar Rd $135,000 $100 1983 1,354 Yes
Killearn Estates 2632 BANTRY BAY DR $140,000 $61 1977 2,300 No
TAPLEY 1180 Tapley Trail $190,000 $72 1961 2,652 No
Lone Star Camp 24230 JESSE Avenue $280,000 $135 1955 2,074 Yes
Richland 1210 Richview Road $139,900 $106 1969 1,320 No
Brigton Place Condo 1575-302 Paul Russell Rd $136,000 $78 2005 1,740 No
TALLAHASSEE CENTER 215 W College Ave Unit 710 E $149,900 $225 2006 667 Yes
Governor Park 1030 Holland $339,000 $128 1933 2,656 Yes
KILLEARN LAKES 8120 HOLLY RIDGE $149,900 $89 1992 1,676 No
Southwood 4200 GROVE PARKDrive $249,900 $133 2005 1,876 Yes
Killearn Acres 3169 Lookout Trail $133,000 $84 1984 1,580 No
Glenwood 302 Glenview Drive $164,900 $82 1962 2,000 Yes
Southwood 3985 Four OaksBoulevard $139,900 $106 2003 1,324 Yes
Shannon Forest 3741 Mundon Way $215,000 $96 1974 2,237 Yes
Golden Eagle Plantation 9150 Shoal CreekDrive $339,900 $119 1996 2,850 No
Linwood Manor 2512 WaldemarLane $130,000 $72 1972 1,798 Yes
Southwood 3728 Ivy Green Trail $235,000 $145 2003 1,620 Yes
Summerbrooke 7564 PRESERVATION RD $460,000 $144 2000 3,199 Yes
Trillium 3545 Trillium Court $250,000 $106 1994 2,367 Yes
Lakeshore 3002 Southshore Circle $287,000 $106 1989 2,698 Yes
KILLEARN ESTATES 4834 BALLYGAR $249,900 $132 1987 1,890 Yes
Melody Hills 2042 Doomar Dr $134,500 $84 1970 1,593 No
Terrence Heights 2411 RosemaryTerrace $118,500 $59 1975 2,020 No
Cypress Cove 2316 Cypress Cove Drive $230,000 $104 2005 2,212 Yes
Clifford Hill Place 1216 Dempsey Mayo Road $344,500 $91 2007 3,776 No
KILLEARN LAKES 9548 BUCK HAVEN $209,900 $114 1993 1,840 No
Evening Rose 3461 GENEVIEVE PARK DR. $219,900 $166 2013 1,326 No
Summerbrooke 7887 PRESERVATION RD $300,000 $112 1995 2,671 Yes
Killearn Lakes 8376 Chickasaw Trail $189,000 $103 1990 1,841 No
Southwood 4190 Four Oaks Boulevard $169,900 $112 2008 1,521 Yes
Settlers Creek 3194 S Fulmer Circle $119,000 $117 1993 1,014 Yes
Shannon Forest 2321 Hampshire Way $285,000 $107 1973 2,652 Yes
Miccosukee Land Co-Op 3900 Sunrise Road $199,900 $112 1978 1,779 Yes
Waverly 1226 Waverly Rd $159,900 $102 1977 1,566 Yes
Bull Run 2618 Farragut Way $284,900 $138 2013 2,060 Yes
Southwood 3056 Indian Grass Lane $214,900 $154 2009 1,400 Yes
Bull Run 2578 Manassas Way $284,900 $138 2013 2,060 Yes
Golden Eagle Plantation Lot 7AR Royal Isle Drive $375,000 $134 2013 2,797 Yes
Golden Eagle Plantation Lot 15AM Pebble Beach Way $375,000 $134 2013 2,797 Yes
Summerbrooke Phase V Lot 13Z Nesters Drive $375,000 $134 2013 2,797 Yes
Summerbrooke Lot 3Z Preservation Road $375,000 $134 2013 2,797 Yes
Wolf Creek 1978 NENA HILLS DR $125,000 $93 2005 1,344 No
oak hill farms 1080 Corby Court $190,000 $77 1995 2,461 Yes
Kirkwood 3304 Sharer Road $200,000 $77 1969 2,613 Yes
Northampton 2972 COMPTON CT $300,000 $121 1992 2,485 Yes
Chemonie Crossing 7998 GRANT Court $399,900 $110 1995 3,640 Yes
Sedgefield 5800 OLD FORGE CT $150,000 $104 1978 1,440 Yes
no 5215 VELDA DAIRY RD $375,000 $138 1977 2,718 No
TERRENCE HEIGHTS UNIT 1 2430 BOONE BLVD $142,600 $57 1964 2,488 Yes
Arvah Branch 2000 Bushy Hall $185,000 $97 1994 1,899 Yes
Southwood 3286 Salinger Way $314,900 $133 2004 2,368 No
Rococo Farms 7542 MOLLY FRANCES DR $339,900 $110 2007 3,100 Yes
Azaela Park Unit 2 1689 Mayhew Street $136,000 $99 1958 1,377 Yes
none 1831 Collins Landing Road $349,000 $134 1980 2,604 No
Live Oak Plantation Road 3118 Middlebrooks Circle $389,900 $120 1967 3,258 Yes
Betton Oaks 1464 GOODWOOD Court $185,000 $107 1984 1,728 Yes
none 2046 Creek Hollow Trl $199,000 $116 1986 1,718 Yes
The Ravines 3726 Daggerwing Court $297,500 $121 1991 2,454 Yes
NORTHWOOD ESTATES 1909 GREENWOOD DR $135,000 $79 1954 1,709 Yes
Woodgate 1449 Woodgate Way $217,500 $124 1971 1,751 Yes
Oakhill Farms 11115 BexhillLane $480,000 $138 1989 3,488 Yes
Hickory Ridge Sub 2675 Hickory Ridge Road $449,000 $114 1978 3,955 Yes
Homestead Ridge Unrec 3225 Pioneer Road $320,000 $122 2001 2,625 Yes
Settlers Creek 3090 MCCORD BLVD $135,000 $110 1991 1,230 Yes
Betton Hills (4th Addition) 2106 Lee Avenue $199,900 $152 1954 1,312 Yes
Southwood 3240 Appleton Drive $514,500 $137 2006 3,751 No
Los Robles 1569 Cristobal $350,000 $130 2006 2,700 No
Southwood 4257 Summertree Drive $329,900 $148 2006 2,227 Yes
Killearn Estates 3089 BAY SHORE DR $180,000 $92 1978 1,957 Yes
Belmont Park Inglewood 309 GarnerCourt $150,000 $106 1963 1,420 Yes
McBride Estates 7889 Maclean Road $220,000 $114 1995 1,935 Yes
McBride Hills Unrecorded 7627 MCCLURE Drive $379,000 $101 1999 3,769 No
Bull Run 2594 Manassas Way $269,900 $148 2012 1,822 Yes
Crescent Hills 5355 Falling Star Drive $110,500 $89 2005 1,237 Yes
Lakeshore Estates 209 Ridgeland Road $249,000 $133 1972 1,877 Yes
Betton Hill 1443 Marion Avenue $350,000 $147 1980 2,378 Yes
Foxwood at Old Bainbridge 3766 ChaseridgeCourt $220,500 $89 2004 2,484 Yes
Killearn Acres 3131 Lookout Trail $205,000 $114 1983 1,797 Yes
Walden Place Unrec 7125 Atascadero Lane $369,900 $131 2007 2,824 No
Killearn Estates 4002 Ardara Drive $149,900 $84 1973 1,780 No
none 3761 Dugan $575,000 $126 2007 4,551 Yes
Killearn Estates 3822 LONGFORD DR $324,900 $116 1974 2,801 No
Ox Bottom Manor 6327 SINKOLA DR $375,000 $129 2001 2,918 Yes
Landover Hills 6605 Landover Circle $220,000 $105 1994 2,100 Yes

We hope this report about recent Tallahassee MLS listings has been helpful, please check back again in the future for more charts, graphs, and analysis of the Tallahassee real estate market.

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Joe Manausa Real Estate
2066 Thomasville Rd
Tallahassee, FL 32308
(850) 366-8917