The Timber Lake neighborhood was in the news yesterday, as Leon County commissioners approved a million dollar expenditure for flood relief. This additional money joins a federal grant of $2.4M for its flood-relief project.
So what have home values in Timber Lake been doing over the past 10 years? Like the rest of the Tallahassee real estate market, this popular Southeast Tallahassee neighborhood has seen depreciation. But home values and prices have fallen further in Timber Lake than in many other parts of town. Some of this has to be attributed to the flooding problems, and distressed property sales have contributed as well.
Currently, there are 7 Timber Lake homes for sale in the Tallahassee MLS, as well as 1 lot and 1 rental property. Asking prices go from $90,000 to $125,000, and the rental property is available for $1,200 per month.
Timber Lake Home Prices
In the real estate graph below, the number of home sales each year are shown in the green (arms length) and red (distressed) vertical bars and measured on the left axis, while the average home price in Timber Lake is shown in the brown field and measured on the right axis.
The average price for a home sold in Timber Lake in 2011 is just over $106,000, which is 34% lower than the $160,000 average reached in 2006 at the height of the housing market. Of greater concern however is that in 2006, 29 homes were sold, and this year only 4 sales have closed, 2 of which were distressed properties.
Timber Lake Home Values
Home values in Timber Lake have fallen 33% since 2007, where the average value was $131 per square foot, compared to the current average of $87 per foot. The fact that sales are significantly slower than the rest of the Tallahassee real estate market has to be tied to the flooding problems, so the work being done to fix it over the next 8 months might open the door for higher buyer activity. This is one neighborhood in Tallahassee where waiting to sell a home might actually bring a higher price.
As with all of our Tallahassee neighborhood reports, we provide these as important market information for home sellers and home buyers in the Tallahassee housing market. If you have a home that you are needing to sell, please schedule a time to see our Progressive Home Selling Plan. It will open your eyes to the changes in the real estate market and what it takes to get top price in an internet-based home selling environment.
Recent Timber Lake Home Sales
| Address | Sales Price | Price/SQF | Closing Date | Year Built | SQF |
| 4135 White Pine Court | $116,000 | $97 | 8/10/2011 | 1990 | 1,192 |
| 1499 Grey Fox Run | $93,465 | $75 | 6/9/2011 | 1995 | 1,240 |
| 4228 Red Oak Drive | $125,000 | $102 | 5/13/2011 | 1989 | 1,228 |
| 1479 Bent Willow Drive | $92,000 | $75 | 4/15/2011 | 1988 | 1,228 |
| 4122 Laurel Oak Circle | $119,000 | $83 | 10/6/2010 | 1988 | 1,428 |
| 4232 Red Oak Drive | $132,500 | $108 | 9/17/2010 | 1988 | 1,228 |
| 4106 Cottage Wood Trail | $105,000 | $88 | 9/2/2010 | 1999 | 1,188 |
| 4116 Red Cedar Court | $125,000 | $102 | 8/2/2010 | 1990 | 1,228 |
| 4078 Cottage Wood Trail | $104,700 | $104 | 6/30/2010 | 1987 | 1,007 |
| 4162 Laurel Oak Circle | $123,500 | $75 | 6/30/2010 | 1994 | 1,649 |
| 4138 Laurel Oak Cir | $133,500 | $106 | 6/4/2010 | 1993 | 1,254 |
| 4130 Laurel Oak Circle | $128,000 | $106 | 5/27/2010 | 1990 | 1,204 |
| 1496 Bent Willow Drive | $136,000 | $111 | 3/16/2010 | 1989 | 1,224 |
| 1565 Sprucewood Trail | $131,000 | $107 | 1/26/2010 | 1988 | 1,228 |
| 4133 Sugar Bear Drive | $125,000 | $118 | 12/11/2009 | 1988 | 1,059 |
| 4109 Red Cedar Ct | $136,000 | $131 | 11/30/2009 | 1989 | 1,038 |
| 1511 Bent Willow Drive | $84,900 | $69 | 11/30/2009 | 1993 | 1,232 |
| 1470 Grey Fox Run | $108,000 | $108 | 8/27/2009 | 1994 | 1,000 |
| 4130 Cottagewood Drive | $125,000 | $105 | 8/24/2009 | 1988 | 1,190 |
| 4125 Red Cedar Court | $142,500 | $116 | 7/30/2009 | 1990 | 1,233 |
| 4204 Red Oak Drive | $137,000 | $112 | 6/26/2009 | 1994 | 1,228 |
| 4111 Stag Run Court | $134,000 | $106 | 6/22/2009 | 1987 | 1,260 |
| 1529 Cinnamon Bear Circle | $136,250 | $111 | 6/5/2009 | 1988 | 1,228 |
| 4066 Cottage Wood Trl | $134,000 | $121 | 5/29/2009 | 1987 | 1,106 |
| 4139 White Pine Ct. | $140,000 | $114 | 3/31/2009 | 1989 | 1,232 |
| 4252 Red Oak Dr | $89,000 | $89 | 3/20/2009 | 1988 | 1,000 |
| 4154 Laurel Oak Circle | $145,000 | $122 | 9/9/2008 | 1995 | 1,184 |
| 4130 White Pine Court | $154,000 | $123 | 7/29/2008 | 1989 | 1,248 |
| 1549 Cinnamon Bear Cir | $155,500 | $128 | 7/23/2008 | 1988 | 1,215 |
| 1433 Timber Ridge Dr | $158,900 | $129 | 4/15/2008 | 1994 | 1,234 |
| 4113 Sugar Bear Drive | $153,000 | $125 | 4/11/2008 | 1988 | 1,228 |
| 1482 Grey Fox Run | $143,100 | $117 | 2/14/2008 | 1996 | 1,228 |
| 4132 Red Cedar Court | $160,000 | $130 | 9/28/2007 | 1988 | 1,228 |
| 1496 Bent Willow Drive | $157,500 | $129 | 8/29/2007 | 1989 | 1,224 |
| 4142 Cottagewood Trail | $166,000 | $136 | 8/21/2007 | 1990 | 1,224 |
| 4240 Red Oak Dr | $145,000 | $144 | 8/10/2007 | 1989 | 1,008 |
| 1463 Grey Fox Run | $162,900 | $133 | 7/20/2007 | 1997 | 1,228 |
| 4058 Cottagewood Trl | $159,900 | $140 | 6/15/2007 | 1987 | 1,140 |
| 4192 Red Oak Drive | $155,000 | $128 | 6/15/2007 | 1994 | 1,208 |
| 1468 Bent Willow Dr. | $154,000 | $122 | 6/1/2007 | 1990 | 1,260 |
| 4070 Cottage Wood Trail | $140,000 | $125 | 5/28/2007 | 1987 | 1,123 |
| 4125 Laurel Oak Circle | $164,900 | $134 | 3/9/2007 | 1990 | 1,228 |
| 4130 White Pine Court | $154,133 | $126 | 3/1/2007 | 1989 | 1,228 |
| 4204 Red Oak Drive | $146,700 | $119 | 2/27/2007 | 1994 | 1,228 |
| 4220 Red Oak Drive | $156,000 | $139 | 2/23/2007 | 1989 | 1,122 |
| 4123 White Pine Ct | $162,000 | $133 | 12/19/2006 | 1988 | 1,215 |
| 4138 White Pine Court | $162,000 | $137 | 12/13/2006 | 1989 | 1,184 |
| 4054 Cottage Wood Trail | $175,000 | $134 | 12/13/2006 | 1987 | 1,308 |
| 1541 Cinnamon Bear Cir | $155,000 | $129 | 11/30/2006 | 1987 | 1,202 |
| 4177 Laurel Oak | $156,000 | $122 | 9/20/2006 | 1990 | 1,280 |
| 1568 Sprucewood Trl | $160,000 | $127 | 9/18/2006 | 1987 | 1,260 |
| 4170 Laurel Oak Circle | $175,500 | $119 | 9/8/2006 | 1994 | 1,481 |
| 4125 Sugar Bear | $158,000 | $127 | 8/30/2006 | 1989 | 1,248 |
| 4208 Red Oak Drive | $164,000 | $134 | 8/18/2006 | 1988 | 1,228 |
| 1450 Grey Fox Run | $169,900 | $138 | 8/15/2006 | 1994 | 1,234 |
| 4106 Cottage Wood Trl | $160,500 | $135 | 7/31/2006 | 1999 | 1,188 |
| 1464 Bent Willow Drive | $158,500 | $130 | 7/21/2006 | 1990 | 1,218 |
| 4167 Red Oak Dr | $164,900 | $145 | 7/12/2006 | 1994 | 1,140 |
| 4130 Stag Run Ct | $167,000 | $136 | 7/7/2006 | 1988 | 1,228 |
| 4178 Laurel Oak Circle | $177,900 | $130 | 6/30/2006 | 1993 | 1,364 |
| 4183 Red Oak Drive | $169,900 | $136 | 6/27/2006 | 1994 | 1,253 |
| 1462 Grey Fox Run | $164,500 | $128 | 6/2/2006 | 1993 | 1,290 |
| 1470 Grey Fox Run | $134,000 | $129 | 5/26/2006 | 1994 | 1,035 |
| 158L Cinnamon Bear Cir | $169,000 | $128 | 5/12/2006 | 1987 | 1,319 |
| 4135 White Pine Court | $151,000 | $124 | 4/21/2006 | 1990 | 1,220 |
| 1463 Grey Fox Run | $163,000 | $133 | 4/6/2006 | 1997 | 1,228 |
| 4142 Laurel Oak Cir | $164,000 | $128 | 4/5/2006 | 1993 | 1,279 |
| 4109 Red Cedar Ct | $135,000 | $130 | 3/31/2006 | 1989 | 1,040 |
| 4187 Red Oak | $149,500 | $120 | 3/31/2006 | 1994 | 1,248 |
| 1503 Grey Fox Run | $154,000 | $137 | 3/27/2006 | 1994 | 1,126 |
| 1520 Bent Wilow Drive | $159,900 | $139 | 3/15/2006 | 1989 | 1,154 |
| 1495 Grey Fox | $153,000 | $128 | 3/9/2006 | 1995 | 1,200 |
| 1547 Spruce Wood Trl | $158,000 | $125 | 3/6/2006 | 1990 | 1,265 |
| 1483 Bent Willow Dr | $160,375 | $112 | 1/12/2006 | 1988 | 1,437 |
| 4131 White Pine Ct | $139,000 | $122 | 12/30/2005 | 1987 | 1,140 |
| 1482 Grey Fox Run | $150,900 | $123 | 12/29/2005 | 1996 | 1,228 |
| 4227 Red Oak Drive | $160,000 | $130 | 12/22/2005 | 1989 | 1,228 |
| 1512 Bent Willow Dr. | $156,500 | $125 | 10/31/2005 | 1990 | 1,256 |
| 1568 Sprucewood | $148,500 | $118 | 10/14/2005 | 1987 | 1,260 |
| 1479 Bent Willow Drive | $156,000 | $127 | 9/23/2005 | 1988 | 1,228 |
| 4146 Laurel Oak Cir | $142,000 | $124 | 8/31/2005 | 1993 | 1,141 |
| 1555 Spruce Wood Trail | $139,500 | $137 | 8/22/2005 | 1988 | 1,016 |
| 4212 Red Oak Dr | $150,000 | $122 | 7/27/2005 | 1988 | 1,228 |
| 4045 Cottagewood Trail | $153,900 | $120 | 7/27/2005 | 1987 | 1,280 |
| 1459 Grey Fox Run | $152,500 | $124 | 7/27/2005 | 1994 | 1,228 |
| 4106 Cottage Wood Trail | $137,900 | $116 | 7/25/2005 | 1999 | 1,188 |
| 4042 Cottage Wood Trail | $139,900 | $114 | 7/8/2005 | 1988 | 1,228 |
| 4126 Laurel Oak Circle | $143,900 | $119 | 6/15/2005 | 1990 | 1,214 |
| 4120 Red Cedar Ct | $137,500 | $111 | 3/25/2005 | 1989 | 1,238 |
| 1484 Bent Willow Dr | $135,000 | $106 | 3/25/2005 | 1989 | 1,278 |
| 4122 White Pine Court | $137,800 | $112 | 3/1/2005 | 1990 | 1,228 |
| 1498 Grey Fox Run | $127,500 | $112 | 2/25/2005 | 1994 | 1,140 |
| 4066 Cottagewood Trail | $125,000 | $95 | 2/15/2005 | 1987 | 1,320 |
| 4110 Cottage Wood Trail | $129,000 | $108 | 12/6/2004 | 1987 | 1,200 |
| 4220 Red Oak Drive | $121,000 | $108 | 11/24/2004 | 1989 | 1,122 |
| 1451 Grey Fox Run | $132,000 | $105 | 11/10/2004 | 1987 | 1,254 |
| 1549 Cinnamon Bear Circle | $124,550 | $103 | 10/12/2004 | 1988 | 1,215 |
| 4126 White Pine Ct. | $111,200 | $110 | 10/1/2004 | 1989 | 1,008 |
| 1512 Bent Willow Dr | $129,900 | $103 | 8/19/2004 | 1990 | 1,256 |
| 4165 Laurel Oak Circle | $131,098 | $105 | 8/17/2004 | 1994 | 1,254 |
| 4146 Laurel Oak Cir | $118,500 | $104 | 8/3/2004 | 1993 | 1,141 |
| 1515 Bent Willow Dr | $125,000 | $102 | 8/3/2004 | 1988 | 1,228 |
| 4228 Red Oak Drive | $125,000 | $101 | 7/26/2004 | 1989 | 1,232 |
| 1508 Bent Willow Drive | $129,400 | $106 | 6/30/2004 | 1989 | 1,224 |
| 1450 Grey Fox Run | $127,000 | $102 | 6/7/2004 | 1994 | 1,240 |
| 4130 Stag Run Court | $112,900 | $88 | 6/2/2004 | 1988 | 1,288 |
| 1523 Bent Willow Drive | $118,000 | $101 | 5/27/2004 | 1989 | 1,168 |
| 1541 Cinnamon Bear Circle | $125,000 | $104 | 5/21/2004 | 1987 | 1,202 |
| 1502 Grey Fox Run | $128,000 | $107 | 5/10/2004 | 1996 | 1,201 |
| 4041 Cottage Wood Trail | $116,500 | $101 | 5/3/2004 | 1988 | 1,155 |
| 4131 Laurel Oak Circle | $125,000 | $99 | 3/31/2004 | 1988 | 1,258 |
| 1472 Bent Willow Dr | $117,900 | $96 | 3/12/2004 | 1990 | 1,228 |
| 4122 Laurel Oak Circle | $125,000 | $88 | 3/2/2004 | 1988 | 1,418 |
| 4138 White Pine Court | $115,000 | $94 | 1/5/2004 | 1989 | 1,227 |
