Tallahassee Waterfront Homes Continue To Defy Housing Market
Posted by Joe Manausa on Tuesday, November 29, 2011 at 12:47:21 PM
By Joe Manausa / November 29, 2011
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As I was digging through recent sales of Tallahassee waterfront homes, I noticed a trend that seemed to be contrary to the rest of the Tallahassee housing market. Could it be that I have discovered a niche in our Tallahassee neighborhoods that is performing well?
We have several clients who are looking to buy a home on a lake in Tallahassee, so I just wanted to make sure we were up to speed with this special part of the market. I looked at recent transactions involving Tallahassee waterfront homes and found that they appear to be appreciating, even as the non-waterfront homes continue to decline in value. The map below shows all waterfront home sales in the Tallahassee MLS from this year.
Average Sales Price Of Tallahassee Waterfront Homes
The average sales price of Tallahassee waterfront homes in 2011 has been 346,000, which is an 18% increase from the $293,000 average price recorded in 2010. During the same period of time, the average sales price of non-waterfront homes in Tallahassee has fallen 5% from $177,000 to $168,000.
Average Value Of Tallahassee Waterfront Homes
The average value of Tallahassee waterfront homes sold in Tallahassee is the big surprise for today's report. As we see in the real estate graph below, the average value of homes on the water has risen 4% this year, from $122 per square foot in 2010 to $127 per square foot this year. Non-waterfront homes in Tallahassee have not been as fortunate, with values declining 7% from $105 per square foot last year to $97 per square foot through mid November 2011.
Number Of Tallahassee Waterfront Homes Sold
The last "check" I needed to make was to compare the total number of Tallahassee waterfront homes sold this year with years prior, in order to see if unit sales had died off. This (fortunately) is not the case. It appears as if the number of waterfront homes in Tallahassee that will sell this year will be lower than last year, but we can already see that more have been sold than in any of the three years prior to 2010. I would say this final piece of the equation bodes well for people who have homes on lakes and ponds in Tallahassee.
Recent Sales Of Tallahassee Waterfront Homes
| Neighborhood | Address | SP | Price/ SQF | Closing Date | Year Built | SQF |
| Blounts Camp | 24068 Lanier | $150,000 | $111 | 11/2/2011 | 1958 | 1,351 |
| Killearn Lakes | 9888 Deer Lake N | $370,000 | $128 | 10/28/2011 | 2002 | 2,894 |
| Blounts Camp | 24220 Lanier Street | $163,000 | $99 | 10/28/2011 | 1954 | 1,642 |
| Foxcroft | 2973 Foxcroft Drive | $131,000 | $86 | 10/21/2011 | 1984 | 1,528 |
| Killearn Estates | 4056 Mclaughlin Dr | $312,500 | $111 | 10/21/2011 | 1990 | 2,818 |
| Moore Pond | 6157 Heartland Cir | $670,000 | $107 | 10/18/2011 | 1995 | 6,275 |
| Greenwood Hills | 2165 Lake Brooke Drive | $400,000 | $109 | 10/17/2011 | 1994 | 3,654 |
| Golden Eagle Plantation | 2903 Royal Isle Drive | $750,000 | $135 | 10/14/2011 | 2005 | 5,549 |
| Southwood | 4632 Grove Park | $468,000 | $177 | 10/14/2011 | 2011 | 2,645 |
| The Antlers | 7056 Buck Lake Road | $205,000 | $108 | 10/14/2011 | 1987 | 1,895 |
| Lafayette Town Homes | 356 S Franklin Blvd | $69,900 | $77 | 10/5/2011 | 1948 | 907 |
| Betton Hills | 2205 Armistead Road | $165,000 | $80 | 10/4/2011 | 1972 | 2,065 |
| None | 4504 Rockbridge Hollow | $1,000,000 | $141 | 10/3/2011 | 1988 | 7,100 |
| Northampton | 5399 Pembridge Pl | $600,000 | $142 | 9/30/2011 | 1991 | 4,240 |
| Southwood | 4654 Grove Park | $549,000 | $174 | 9/30/2011 | 2006 | 3,150 |
| Blounts Camp | 24112 Lanier St | $127,600 | $231 | 9/30/2011 | 1954 | 552 |
| Hawks Landing | 3180 Hawks Landing Drive | $365,000 | $128 | 9/29/2011 | 1997 | 2,848 |
| Golden Eagle Plantation | 2220 Genevieve Court | $750,000 | $198 | 9/28/2011 | 2005 | 3,786 |
| Golden Eagle Plantation | 9252 Shoal Creek | $450,000 | $145 | 9/28/2011 | 2004 | 3,100 |
| Arvah Branch | 2456 Arvah Branch Boulevard | $265,000 | $102 | 9/26/2011 | 1994 | 2,588 |
| Idlewild | 1308 Carson Drive | $126,000 | $86 | 9/23/2011 | 1954 | 1,464 |
| Lake Jamie | 4221 Rabbit Pond Road | $259,500 | $113 | 9/23/2011 | 1991 | 2,302 |
| Golden Pheasant | 2159 Game Bird Ct | $238,000 | $104 | 9/23/2011 | 2005 | 2,299 |
| Glen At Golden Eagle | 2634 Heathrow | $177,900 | $89 | 9/14/2011 | 2002 | 1,995 |
| Oakfair Farms | 2517 Lakefair Drive | $247,000 | $113 | 9/12/2011 | 1992 | 2,179 |
| Golden Eagle Plantation | 2147 W Golden Eagle Drive | $1,200,000 | $159 | 9/12/2011 | 2002 | 7,560 |
| Killearn Acres | 5328 Ben Brush Trail | $210,000 | $94 | 9/9/2011 | 1983 | 2,236 |
| Killearn Estates | 5016 Tallow Point Rd | $212,000 | $121 | 9/2/2011 | 1986 | 1,752 |
| Rivers Landing | 4831 Sampler Dr. | $161,700 | $119 | 8/29/2011 | 2011 | 1,358 |
| Iamonia Lodge Unrec | 12182 Waterfront Drive | $280,000 | $175 | 8/27/2011 | 2010 | 1,600 |
| Brill Point Unrec | 5000 Brill Point | $825,000 | $163 | 8/26/2011 | 1997 | 5,066 |
| Killearn Estates | 3186 Ferns Glen Drive | $245,000 | $89 | 8/26/2011 | 1983 | 2,754 |
| Killearn Lakes | 2994 Killearn Pointe Court | $404,900 | $119 | 8/25/2011 | 2005 | 3,400 |
| Southwood | 3044 Dickinson Drive | $670,000 | $138 | 8/25/2011 | 2008 | 4,864 |
| Rivers Landing | 4413 Rivers Landing Drive | $138,000 | $102 | 8/25/2011 | 2011 | 1,358 |
| Groveland Hills | 912 Groveland Hills Drive | $192,000 | $122 | 8/22/2011 | 1982 | 1,574 |
| Eagle'S Ridge | 9254 Eagles Ridge Drive | $500,000 | $122 | 8/22/2011 | 2007 | 4,104 |
| Golden Eagle Plantation | 2887 Royal Isle | $378,000 | $144 | 8/9/2011 | 2011 | 2,623 |
| Baker Place | 7024 Grenville Road | $755,000 | $166 | 7/29/2011 | 2002 | 4,544 |
| Southwood | 3190 Dunbar Lane | $537,000 | $157 | 7/29/2011 | 2011 | 3,426 |
| Killearn Estates | 5061 Pimlico Drive | $282,000 | $102 | 7/29/2011 | 1987 | 2,772 |
| Betton Hills | 2514 Harriman Cir | $650,000 | $174 | 7/27/2011 | 2006 | 3,728 |
| Coventry Banks | 8091 Lanternlight Road | $850,000 | $148 | 7/25/2011 | 2003 | 5,726 |
| Woodbriar | 3396 Woodbriar Ln | $120,000 | $96 | 7/18/2011 | 2005 | 1,249 |
| Killearn Estates | 2640 Nantucket Lane | $182,000 | $107 | 7/18/2011 | 1996 | 1,702 |
| Mcbride Hills | 7762 Mcclure Dr | $445,000 | $162 | 7/15/2011 | 1999 | 2,747 |
| Summerbrooke | 1017 Summerbrooke Drive | $407,500 | $154 | 7/15/2011 | 1993 | 2,651 |
| Lakeside | 4255 Cool Emerald | $152,000 | $86 | 7/15/2011 | 2006 | 1,767 |
| None | 3400 Williams Road | $850,000 | $266 | 7/15/2011 | 2006 | 3,195 |
| The Racquet Club | 1971 Maryellen Drive | $108,000 | $89 | 7/8/2011 | 1989 | 1,219 |
| Golden Eagle Plantation | 8889 Glen Abby Dr | $565,000 | $174 | 7/5/2011 | 1997 | 3,238 |
| Rosehill | 287 Rosehill Dr E | $838,000 | $146 | 7/1/2011 | 1999 | 5,746 |
| Lake Mary Ann Unrec | 4197 Kimmer Rowe | $338,000 | $111 | 7/1/2011 | 1997 | 3,052 |
| Reserve At The Ridge | 9163 Eagles Ridge Dr | $382,500 | $137 | 6/30/2011 | 2004 | 2,792 |
| Vieux Carre | 1453 Vieux Carre Drive | $477,675 | $167 | 6/30/2011 | 2004 | 2,868 |
| Woodrun East | 7890 Tally Ann Drive | $77,000 | $73 | 6/30/2011 | 1990 | 1,055 |
| Lake Heritage Estates | 2128 Little River Lane | $87,500 | $81 | 6/30/2011 | 1980 | 1,086 |
| Burr Sub | 3268 Longleaf Road | $280,000 | $76 | 6/30/2011 | 1953 | 3,679 |
| Moore Pond | 6867 Heartland Circle | $732,500 | $170 | 6/24/2011 | 1995 | 4,314 |
| The Lakes | 1327 Airport Dr E-10 | $95,000 | $88 | 6/22/2011 | 1984 | 1,083 |
| Sawgrass Plantation | 2785 Saw Palmetto Ln | $137,000 | $96 | 6/17/2011 | 1998 | 1,425 |
| Golden Eagle Plantation | Lot 5 Shoal Creek | $431,532 | $154 | 6/15/2011 | 2011 | 2,801 |
| Killearn Estates | 4016 Mclaughlin Drive | $279,500 | $115 | 6/13/2011 | 1988 | 2,440 |
| Kimberton | 3030 Shamrock | $355,000 | $88 | 6/10/2011 | 1981 | 4,021 |
| Lake Vern Estates Unrec | 3017 Tisha Dr | $310,000 | $119 | 6/2/2011 | 1994 | 2,610 |
| Forest Square | 1617 Seminole Drive | $230,000 | $114 | 6/2/2011 | 1978 | 2,016 |
| Killearn Estates | 3050 Bay Shore Drive | $175,000 | $95 | 5/27/2011 | 1978 | 1,845 |
| Meadows At Woodrun | 2344 Windermere Rd | $125,000 | $102 | 5/25/2011 | 1980 | 1,230 |
| The Antlers | 7047 Alhambra Drive | $241,000 | $106 | 5/20/2011 | 1997 | 2,273 |
| Southwood | 3174 Baringer Hill Drive | $435,000 | $154 | 5/17/2011 | 2006 | 2,825 |
| Edinburgh Estates | 4352 Camden Drive | $278,800 | $112 | 5/17/2011 | 2006 | 2,486 |
| Killearn Estates | 4716 Tory Sound Lane | $175,000 | $80 | 5/13/2011 | 1979 | 2,174 |
| Moore Pond | 6617 Heartland Circle | $1,300,000 | $99 | 5/12/2011 | 2001 | 13,100 |
| Coventry Banks | 8128 Lanternlight Lane | $730,000 | $168 | 5/12/2011 | 2002 | 4,357 |
| Killearn Acres | 3136 Lookout Trail | $182,000 | $98 | 5/10/2011 | 1987 | 1,864 |
| Golden Eagle Plantation | 8986 Winged Foot Drive | $647,500 | $134 | 4/29/2011 | 1988 | 4,850 |
| Golden Eagle Plantation | 2945 Golden Eagle Drive East | $415,000 | $127 | 4/29/2011 | 1991 | 3,267 |
| Summerbrooke | 7551 Preservation Road | $350,000 | $105 | 4/29/2011 | 2004 | 3,332 |
| Ketcham Trust | 3164 W Lakeshore Drive | $230,000 | $122 | 4/25/2011 | 1956 | 1,886 |
| Luna Plantation | 10850 Luna Point Rd | $260,000 | $127 | 4/22/2011 | 1990 | 2,054 |
| Chemonie Crossing | 7241 Old Chemonie Court | $356,000 | $135 | 4/21/2011 | 2002 | 2,631 |
| Woodrun East | 7800 Tally Ann Drive | $45,000 | $35 | 4/21/2011 | 1981 | 1,270 |
| Edinburgh Estates | 4379 Woodbridge Road | $154,000 | $79 | 4/19/2011 | 1984 | 1,948 |
| Brandon Woods | 810 Maderia Circle | $365,000 | $102 | 4/15/2011 | 1991 | 3,585 |
| Golden Eagle Plantation | 9149 Shoal Creek Drive | $354,900 | $121 | 4/15/2011 | 1996 | 2,932 |
| Southwood | 4308 Grove Park | $205,000 | $133 | 4/13/2011 | 2005 | 1,541 |
| St Andrews | 1900 Nicklaus Ct | $47,500 | $50 | 4/12/2011 | 1989 | 952 |
| Russell'S Pond | 4617 Russells Pond Ln | $100,000 | $85 | 4/6/2011 | 2001 | 1,173 |
| Centerville Trace | 3638 Oxhill Court | $179,000 | $114 | 3/30/2011 | 2001 | 1,571 |
| Killearn Estates | 4724 Tory Sound Lane | $160,000 | $76 | 3/30/2011 | 1977 | 2,092 |
| Killearn Estates | 3166 Ferns Glen Drive | $230,000 | $74 | 3/30/2011 | 1981 | 3,123 |
| Hall Property Unrecorded | 17521 Frank N Margret Lane | $16,800 | $21 | 3/30/2011 | 1971 | 800 |
| Killearn Estates | 2644 Nantucket Lane | $165,000 | $99 | 3/25/2011 | 1990 | 1,670 |
| Golden Eagle Plantation | 8155 Glenmore Drive | $560,000 | $153 | 3/18/2011 | 1997 | 3,664 |
| Meridian Meadows | 218 Mill Branch Road | $120,000 | $130 | 3/18/2011 | 1970 | 920 |
| Groves At Summerbrooke | 1528 Applewood Way | $195,000 | $125 | 3/16/2011 | 2005 | 1,558 |
| 1300 Live Oak Plantation | 1455 Millstream Road | $425,000 | $103 | 3/10/2011 | 1989 | 4,108 |
| Barrington Park Condominiums | 2801 Chancellorsville Drive | $162,400 | $106 | 2/28/2011 | 2004 | 1,532 |
| Greenwood Hills | 2070 Wildridge Drive | $285,000 | $80 | 2/28/2011 | 1990 | 3,557 |
| Summer Lake | 1766 San Damian Road | $331,106 | $137 | 2/25/2011 | 2009 | 2,418 |
| Luna Plantation | 10053 Collins Hole | $439,000 | $157 | 2/18/2011 | 1997 | 2,800 |
| Laurel Trace | 2624 Fenwood Court | $140,000 | $84 | 2/17/2011 | 2006 | 1,665 |
| Southwood | 3254 Belle Meade Trail | $704,000 | $175 | 2/16/2011 | 2005 | 4,012 |
| None | 4209 Rabbit Pond Road | $195,000 | $139 | 2/4/2011 | 1997 | 1,400 |
| Blounts Camp | 24064 Lanier St. | $95,000 | $170 | 2/4/2011 | 1954 | 560 |
| Southwood | 3166 Dunbar Lane | $506,099 | $167 | 1/28/2011 | 2011 | 3,022 |
| Golden Eagle Plantation | 2286 Cobb Drive | $386,000 | $122 | 1/27/2011 | 2002 | 3,156 |
| Killearn Lakes | 2409 Bass Bay Drive | $282,000 | $115 | 1/26/2011 | 1994 | 2,442 |
| Southwood | 3169 Mulberry Park Blvd | $135,000 | $91 | 1/26/2011 | 2002 | 1,483 |
| Woodbriar | 3395 Woodbriar Lane | $120,000 | $87 | 1/18/2011 | 2005 | 1,375 |
| Mission Manor | 6109 Greenon Lane | $32,000 | $51 | 1/4/2011 | 1983 | 623 |
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