Understanding Real Estate Trends Is No Bull

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Bull Run Tallahassee Picture

One reader provided an interesting observation about our graphing and charting techniques here on the Tallahassee Real Estate Web Site. This reader wanted to know why we relied so heavily on real estate one-year trend charts, as opposed to non-trended data graphs.

Specifically, the reader asked

So much of your data focuses on 365-day analysis. Given the dynamics of real estate today, it would be nice to have monthly information as well. I understand seasonality makes it hard to compare between months. But sometimes it’s just nice to know what is actually selling and what isn’t in the current market.

I am envisioning something like your inventory report, showing for the past month the number of condos/THs that sold and the number of single-family detached homes that sold. Sales data by price range and region (e.g. NE, NW, SE, SW) would be helpful too.

By the way, keep up the good work. In my opinion, this is the best RE site covering any metro region…at least the best free one.

This is great feedback and I will get more non-trended reports embedded into future blogs. But I also want to demonstrate the value of these trended results, with a real-world Tallahassee neighborhood report.

Bull Run Subdivision Home Sales Report

In order to demonstrate my perception of the value of the trend report, let’s take a look at arms-length home sales in the Bull Run Subdivision in Tallahassee, Florida. The graph below shows the number of homes sold each month, and the corresponding average prices of the homes sold that month.

Bull Run Subdivision Real Estate Graph

The information in this real estate graph shows the recent sales and prices, but do you get a real feel for what is occurring from this? Are sales up in Bull Run? Are sales down in Bull Run? What do you really see? If anything, I see a general downward trend on home prices, with a nice little “spike up” in the past three months. What do you see?

Home Prices Still Dropping In Bull Run Subdivision

This next real estate graph removes the seasonal bumps and jumps in the graph above by annualizing every point in the graph. To me, the results tell a much more focused picture.

Bull Run Subdivision Real Estate Graph In Tallahassee Florida

When I created these two real estate graphs, I had to look at them several times because I thought I had made a mistake. The first graph of Bull Run home sales seems to show a much more stable picture, while the second graph makes it appear as if Bull Run home prices are still dropping.

The problem with the first graph is that your mind (at least my mind) cannot do the math and factor in weighted averages of unit counts and average prices. For example, looking at the first graph, there were five sales of homes in Bull Run in July 2009 for less than $300,000. There was one sale for more than $300,000 in September of 2009.

On the first graph, it doesn’t really seem to catch your eye, but when we trend it, we realize what is really occurring in the Bull Run Subdivision. The average price trend has dropped 25% ($100,000) since the peak of the market! That message hits me right between the eyes in the trend graph, yet I would not have even noticed it in the first graph.

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Homes For Sale In Bull Run

The following map shows each of the homes for sale in Bull Run. Simply click on any marker and the full details of the home will be revealed.

Homes Sold In Bull Run

The following is a list of all Bull Run home sales in the Tallahassee MLS:

Home Sales in Bull Run

AddressPricePrice / SQFClosing DateYear BuiltSQFSale Type
2616 Manassas Way$389,000$2192026-08-2120131,773Resale
5625 Ringold Ln$445,500$2192026-07-2020112,030Resale
5705 Groveton Ct$635,000$2492026-07-1520162,555Resale
5637 Ringold Ln$425,000$2322026-06-2320121,828Resale
2617 Antietam Trl$640,000$2622026-06-1820132,439Resale
2530 Manassas Way$365,000$2152026-06-1620101,701Resale
2575 Ulysses Rd$580,000$2212026-06-0220072,627Resale
5716 Sumter Hill Ln$565,000$2382026-05-2720152,375Resale
2581 Ulysses Rd$525,000$2482026-05-2720122,114Resale
2676 Breton Ridge Dr$610,000$2512026-05-1320182,431Resale
2605 Antietam Trl$685,000$2042026-05-0120063,350Resale
5620 Tecumseh Dr$440,000$1942026-04-3020062,270Resale
2545 Carthage Ln$575,000$2252026-04-2720092,553Resale
5867 Dahlgren Trl$532,000$2432026-04-1720142,188Resale
2664 Breton Ridge Dr$558,000$2482026-04-0720122,248Resale
2503 Ulysses Rd$749,000$2882026-03-3120252,602New
2603 Opequon Bnd$502,500$2412026-01-0920092,087Resale
2596 Manassas Way$443,000$2372025-12-1220131,873Resale
2541 Lagrange Trl$486,000$2102025-11-0620082,318Resale
5731 Farnsworth Dr$845,000$2702025-10-2720163,135Resale
2642 Opequon Bnd$515,000$2492025-10-2320132,067Resale
2621 Farragut Way$557,000$2462025-10-1420142,260Resale
5672 Burnside Cir$500,000$2102025-10-0920062,381Resale
2510 Manassas Way$465,000$2442025-09-1020091,904Resale
2601 Ulysses Rd$425,000$2042025-09-0220062,088Resale
2542 Manassas Way$450,000$2382025-08-2720091,891Resale
2617 Manassas Way$465,000$2242025-08-2620112,072Resale
2501 Ulysses Rd$819,900$2882025-08-0820252,842New
2688 Breton Ridge Dr$645,000$2462025-07-0220062,626Resale
2624 Manassas Way$478,000$2252025-06-2020132,121Resale
2547 Bennits Mill Way$535,000$2252025-06-1320092,376Resale
2580 Ulysses Rd$500,000$2322025-06-0420112,155Resale
2645 Antietam Trl$660,000$2172025-05-2920143,048Resale
5801 Dahlgren Trl$563,000$2552025-03-3120142,212Resale
2565 Manassas Way$435,000$2352025-03-2420081,848Resale
5750 Farnsworth Dr$709,900$2692025-03-1320142,637Resale
5659 Tecumseh Dr$460,000$2032025-02-1420062,270Resale
5624 Tecumseh Dr$500,000$2112025-02-0620062,373Resale
2586 Ulysses Rd$437,000$2392025-02-0520111,828Resale
2548 Halleck Ln$442,500$2342024-12-1820081,888Resale
2607 Opequon Bnd$460,000$2442024-11-2220121,882Resale
2513 Ulysses Rd$505,000$2152024-11-1520082,345Resale
2594 Halleck Ln$445,000$2502024-11-1220101,782Resale
5663 Tecumseh Dr$441,500$2252024-09-1220061,963Resale
5718 Roanoke Trl$515,000$2192024-08-1920052,348Resale
2542 Bennits Mill Way$520,000$2432024-08-0920112,138Resale
5700 Sumter Hill Ln$520,000$2222024-08-0820182,346Resale
2607 Opequon Bnd$450,000$2392024-07-3120121,882Resale
2598 Farragut Way$442,000$2402024-07-1620121,840Resale
2622 Farragut Way$450,000$2392024-06-1720131,882Resale
2533 Lagrange Trl$495,000$2392024-05-1020102,074Resale
5809 Dahlgren Trl$619,000$2242024-05-0220162,769Resale
5640 Tecumseh Dr$440,000$2252024-04-3020061,959Resale
2605 Farragut Way$430,000$2532024-04-1920111,701Resale
2508 Carthage Ln$508,400$2292024-04-1220132,218Resale
2593 Ulysses Rd$435,000$2292024-04-0420061,899Resale
2626 Opequon Bnd$505,000$2462024-03-1420132,055Resale
2569 Ulysses Rd$490,000$2332024-02-2620122,105Resale
2526 Bennits Mill Way$510,000$2202024-01-2220092,322Resale
2515 Dahlgren Ct$436,500$2372023-12-2920141,842Resale
2549 Ulysses Rd$441,000$2352023-12-2020131,874Resale
2583 Ulysses Rd$488,000$2352023-11-0620102,074Resale
2567 Carthage Ln$539,500$2432023-11-0320122,216Resale
5655 Tecumseh Dr$476,500$2062023-10-3120062,316Resale
2575 Manassas Way$486,000$2302023-08-2320082,117Resale
5624 Tecumseh Dr$465,000$1962023-08-1720062,373Resale
2583 Halleck Ln$453,000$2252023-07-2720122,017Resale
2504 Ulysses Rd$470,000$2242023-06-3020102,094Resale
5774 Farnsworth Dr$662,500$2432023-06-2320172,725Resale
2612 Antietam Trl$597,300$2182023-05-3020052,737Resale
2688 Breton Ridge Dr$610,000$2322023-04-1120062,626Resale
5705 Groveton Ct$597,000$2342023-04-0320162,555Resale
2612 Manassas Way$475,000$2242023-03-3120132,121Resale
2594 Farragut Way$460,000$2282023-03-3120122,017Resale
5664 Burnside Cir$489,900$2322023-03-2720072,113Resale
5868 Dahlgren Trl$500,000$2182023-01-2620152,289Resale
2546 Manassas Way$425,000$2322023-01-1020091,831Resale
2574 Halleck Ln$463,800$2302022-11-2820102,016Resale
5833 Dahlgren Trail$450,000$2402022-11-2820161,878Resale
2500 Ulysses Rd$560,000$2152022-11-1520152,605Resale
5708 Sumter Hill Ln$365,000$1942022-10-2820121,882Resale
2533 Lagrange Trl$460,000$2222022-10-0620102,074Resale
2505 Spotsylvania Ct$440,000$2352022-10-0320161,871Resale
5654 Burnside Cir$460,000$2002022-09-2120062,301Resale
5659 Tecumseh Dr$425,000$1872022-08-3120062,270Resale
5655 Tecumseh Dr$445,000$1922022-08-0820062,316Resale
5721 Roanoke Trl$639,900$2522022-07-2920062,535Resale
2547 Bennits Mill Way$495,500$2092022-07-0820092,376Resale
2543 Halleck Ln$447,000$2462022-06-2320081,814Resale
5653 Burnside Cir$515,000$2442022-06-0820062,113Resale
2527 Dahlgren Ct$615,000$2262022-05-3120152,720Resale
5726 Roanoke Trl$632,900$2272022-05-2620052,784Resale
2586 Halleck Ln$386,000$2292022-05-1020091,685Resale
5686 Burnside Cir$475,000$2072022-04-2920072,293Resale
5641 Ringold Ln$456,000$2202022-04-2720112,074Resale
2545 Ulysses Rd$445,500$2322022-04-1820131,923Resale
2624 Manassas Way$450,000$2122022-04-1520132,121Resale
5698 Burnside Cir$434,900$2112022-03-2120072,058Resale
2628 Manassas Way$449,500$2392022-03-1820131,882Resale
2619 Opequon Bnd$442,500$2402022-03-1620121,840Resale

I hope you have gained valuable information regarding home sales in Bull Run, please don’t hesitate to drop me a note if you want to more information about selling a home or buying a home in Tallahassee.

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