New Trend In Tallahassee MLS Listings: Cause For Concern?
Posted by Joe Manausa on Thursday, December 20, 2012 at 11:23 AM
By Joe Manausa / December 20, 2012
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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.
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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