Weems Plantation Faces "Young Neighborhood" Challenges

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Weems PlantationWeems Plantation is a popular Northeast Tallahassee neighborhood that is undergoing some issues that we have been observing in newer neighborhoods all around Tallahassee.

With home sales happening at a rate less than one half of our normal, we know that a shadow inventory of pent-up supply is growing, and thus so will the list of homes for sale in Weems Plantation. People who want to move but know they owe more on their homes than what is worth are growing in number, and the impact that this will have on neighborhoods in Tallahassee that are less than 15 years old is going to be greater than on those that have been around for a longer period of time. Why you say?

Young neighborhoods have one thing in common for certain. Everybody who owns a home there purchased it in recent years. Nobody who lives in Weems Plantation got there any earlier than June of 1999, and the majority of homeowners in Weems Plantation have been there 5 to 7 years. This means that historically normal, demographically-based movement trends will be causing the majority of homeowners to want to sell their home.

All neighborhoods undergo this phenomenon as they grow out of their infancy, but unfortunately for Weems Plantation and other young neighborhoods, they are going through it during the worst real estate market to hit Tallahassee in a long, long time. I suspect if prices were to suddenly increase by 30% and buyers flooded back to the market (don’t hold your breath), we would see a lot of homeowners step out of the shadows in Weems Plantation.

Because of this, there will be an abundance of supply on hand for many years to come. Homeowners who choose to sell a home sooner rather than later, will get the best prices for the next five or more years. The decision for homeowners will be to either sell immediately, or hold the property for 15+ years for the decision to make smart financial sense (I dedicated an entire previous post explaining how to calculate the best “financial” decision on whether to sell or hold).

Weems Plantation Home Prices

The average sales price of a home in Weems Plantation in 2011 has been $157,000, which is down from the $209,000 average in 2006. The graph below shows no signs of the decline happening anytime soon, as the number of homes selling is still at an all-time (12 year) low. Additionally, the three most recent sales have been distressed properties, which makes 2011 the worst year for the percentage of homes sold in distress (33%).

Weems Plantation Home Prices

Weems Plantation Home Values

Home values have fallen 23% in Weems Plantation, from nearly $150 per square foot in 2007 to an average of $115 per square foot in 2011 through Mid November. With more short sales and foreclosures hitting the market, we can expect to see further depreciation in Weems Plantation.

Weems Plantation Home Values

Homes For Sale In Weems Plantation

The following map shows all of the homes for sale in Weems Plantation. Simply hover over a marker and a picture of the home will appear, as well as limited information on the home. If you want to know more about the home, simply click on the picture and the entire detail page will be revealed.

Homes Sold In Weems Plantation

Home Sales in Weems Plantation

AddressPricePrice / SQFClosing DateYear BuiltSQFSale Type
3247 Bodmin Moor Dr$335,000$2572026-08-2720001,302Resale
3259 Emerson Ln$278,000$2142026-08-0620021,297Resale
3220 Bodmin Moor Dr$365,000$1902026-07-1620001,926Resale
3228 Emerson Ln$300,000$2342026-07-0220021,280Resale
3308 Dartmouth Dr$389,900$2172026-06-3020041,799Resale
3211 Emerson Ln$268,300$2072026-06-0220021,297Resale
3272 Addison Ln$275,000$2212026-05-2720011,244Resale
3227 Addison Ln$289,500$2282026-05-1520001,270Resale
3272 Emerson Ln$279,900$2162026-04-1520031,297Resale
3526 Lands End Ln$293,500$2332026-03-3120031,260Resale
3320 Addison Ln$265,000$2042026-03-1120011,297Resale
3491 Torrington Way$350,000$2162026-02-1320031,617Resale
3468 Exmouth Ln$325,000$1982025-12-1720001,638Resale
3529 Lands End Ln$279,900$2272025-12-1220031,234Resale
3248 Addison Ln$279,000$2222025-10-3020011,258Resale
3333 Newton Abbott Dr$279,900$2252025-09-2920031,246Resale
3453 Barnstaple Dr$345,000$2402025-08-0620041,435Resale
3231 Bodmin Moor Dr$329,000$2572025-07-1720001,282Resale
3465 Saltash Ln$310,000$2382025-07-1120001,302Resale
3248 Emerson Ln$279,900$2192025-06-0920021,280Resale
3453 Kaylee Ct$315,000$2152025-05-1320031,462Resale
3222 Addison Ln$277,400$2232025-04-0120011,246Resale
3225 Addison Ln$265,000$2122025-03-1920011,249Resale
3341 Addison Ln$270,000$2082025-02-2720021,297Resale
3454 Saltash Ln$316,000$2432025-01-2319991,302Resale
3431 Barnstaple Dr$325,000$2322024-12-1820041,401Resale
3301 Dartmouth Dr$324,900$2212024-10-2120081,469Resale
3325 Addison Ln$273,000$2212024-10-1120011,234Resale
3460 Exmouth Ln$326,000$2502024-09-2419991,302Resale
3305 Addison Ln$271,800$2162024-09-2420011,260Resale
3533 Lands End Ln$255,000$2042024-09-2320031,249Resale
3295 Emerson Ln$275,000$2152024-09-0920021,280Resale
3355 Bodmin Moor Dr$325,000$2112024-07-1820001,537Resale
3454 Torrington Way$335,000$1982024-07-1120001,693Resale
3452 Barnstaple Dr$310,000$2312024-07-1020041,343Resale
3428 Barnstaple Dr$308,000$2222024-07-0920041,388Resale
3472 Exmouth Ln$349,900$1882024-06-2820001,863Resale
3321 Newton Abbott Dr$291,000$2362024-05-0620031,234Resale
3216 Emerson Ln$255,000$1972024-03-2820031,297Resale
3231 Bodmin Moor Dr$300,000$2342024-03-2120001,282Resale
3341 Newton Abbott Dr$300,000$2202024-03-0820031,364Resale
3468 Barnstaple Dr$305,000$2162024-02-2620031,412Resale
3250 Dartmouth Dr$225,000$1692024-01-1819991,329Resale
3304 Dartmouth Dr$297,000$2102024-01-1220011,411Resale
3510 Barnstaple Dr$309,000$2102023-12-1820041,471Resale
3300 Emerson Ln$272,000$2102023-12-1820031,297Resale
3224 Emerson Ln$225,000$1732023-12-1520021,297Resale
3244 Emerson Ln$280,000$2162023-11-1420031,297Resale
3266 Dartmouth Dr$329,000$2142023-10-2020001,539Resale
3228 Emerson Ln$261,000$2042023-08-2920021,280Resale
3456 Kaylee Ct$317,000$2202023-08-2820031,444Resale
3301 Bodmin Moor Dr$335,000$2182023-08-1020021,537Resale
3469 Exmouth Ln$327,500$2392023-07-1819991,368Resale
3268 Emerson Ln$271,000$2122023-05-3120021,280Resale
3276 Emerson Ln$239,900$1852023-05-2320031,297Resale
3248 Addison Ln$275,000$2192023-04-2420011,258Resale
3462 Saltash Ln$325,000$2312023-04-1420001,408Resale
3466 Saltash Ln$316,000$2062023-03-3120001,535Resale
3304 Emerson Ln$265,000$2072023-02-2320021,280Resale
3285 Bodmin Moor Dr$340,000$1862022-11-2819991,828Resale
3280 Addison Ln$270,000$2022022-11-1520011,337Resale
3201 Dartmouth Dr$291,000$2062022-10-0720031,410Resale
3464 Falmouth Ct$289,900$2112022-08-1920041,372Resale
3454 Saltash Ln$300,000$2302022-07-2719991,302Resale
3515 Lands End Ln$295,000$2012022-06-1720031,471Resale
3502 Lands End Ln$260,000$1932022-05-2720031,345Resale
3231 Addison Ln$235,000$1882022-04-2520001,249Resale
3275 Emerson Ln$225,000$1762022-04-1420021,280Resale
3500 Torrington Way$236,000$1902022-03-1520031,240Resale
3472 Exmouth Ln$342,000$1842022-03-1020001,863Resale
3514 Barnstaple Dr$330,000$1762022-03-0120041,870Resale
3312 Addison Ln$235,000$1832022-02-1120011,286Resale
3285 Bodmin Moor Dr$310,000$1702022-02-0419991,828Resale
3486 Lands End Ln$264,000$1522022-01-2020001,742Resale
3312 Emerson Ln$245,000$1892022-01-1220021,297Resale
3272 Addison Ln$224,900$1812022-01-1020011,244Resale
3443 Barnstaple Dr$245,000$1932021-11-0520041,271Resale
3330 Dartmouth Dr$270,000$1892021-11-0320021,432Resale
3338 Dartmouth Dr$245,000$1882021-10-2520001,304Resale
3511 Barnstaple Dr$255,500$1832021-10-1420041,398Resale
3451 Gentle Wind Way$265,000$2042021-09-2419991,302Resale
3287 Emerson Ln$235,000$1842021-09-2420021,280Resale
3472 Exmouth Ln$294,000$1582021-09-1020001,863Resale
3315 Dartmouth Dr$292,500$1762021-09-1020021,658Resale
3308 Addison Ln$220,000$1722021-09-1020011,280Resale
3321 Newton Abbott Dr$245,000$1992021-09-0120031,234Resale
3476 Barnstaple Dr$255,000$1662021-08-1620041,537Resale
3311 Dartmouth Dr$285,000$1642021-08-1220011,735Resale
3320 Newton Abbott Dr$240,000$1922021-07-2920031,249Resale
3256 Emerson Ln$246,000$1902021-07-2620021,297Resale
3439 Barnstaple Drive$240,000$1912021-07-2120041,255Resale
3339 Bodmin Moor Dr$251,500$1552021-07-1620021,624Resale
3265 Addison Ln$232,000$1862021-07-1620001,246Resale
3264 Emerson Ln$245,000$1892021-07-1620031,297Resale
3220 Emerson Ln$219,100$1712021-07-0920021,280Resale
3459 Kaylee Ct$276,000$1622021-07-0820021,700Resale
3221 Addison Ln$240,500$1932021-06-3020001,246Resale
3450 Falmouth Ct$248,000$1762021-06-2220021,410Resale
3328 Emerson Ln$248,000$1932021-06-0120011,286Resale
3452 Exmouth Ln$249,900$1922021-05-2820001,304Resale

I hope you were able to learn something from this Weems Plantation Home Sales Report, please drop me a note if you have any other questions or concerns that I can help you with.

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