The rate at which homes are selling in Killearn Acres has begun to return, with nearly 5 homes selling each month thus far through August of 2014.
As one of the most highly active neighborhoods in Tallahassee (along with Southwood, Killearn Lakes Plantation, Killearn Estates, and Bull Run), we keep a close eye on Killearn Acres to gain insight on changing trends for the entire Tallahassee real estate market.
Thus far in 2014, there have been 39 homes sold in Killearn Acres, with an average sales price of $154,000 and a value of $98 per square foot. That means you are getting a 1,565 square foot home for just over $150K in a highly desirable NE Tallahassee neighborhood.
Currently, there are 17 homes for sale in Killearn Acres, and those that are priced well and marketed well are selling fast.
Killearn Acres Home Values Improving
After hitting a market low of three home sales per month back in 2011, Killearn Acres has seen sales rebound to just under five home sales per month, and the current rate of sales has been steady for the past six months.
Home values have for the most part risen after hitting bottom in November of last year. Distressed properties sales have been rising lately though and that is why overall values have not been rising faster.
Killearn Acres Home Prices Recovering
Home prices are up slightly from a bottom found in January of 2013, but you can really see the impact of distressed properties in Killearn Acres bringing that average home sales price back down. Currently the average arms length sales price of a home in Killearn Acres is around $176,000, while the distressed homes have sold for an average of $117,000.
Distressed Properties Still Impact Killearn Acres
With the rising number of distressed properties available in Killearn Acres, their impact on the "average" continues to be a factor. In the graph below, the one-year trend of the total number of existing home sales in Killearn Acres is shown in blue. Additionally, existing home sales are broken down into two subsets, arms length (shown in green) and distressed (shown in red). Right now, it appears that Killearn Acres is approaching two distressed home sales per month.
Homes For Sale In Killearn Acres
The following map shows the Killearn Acres homes that are on the market today. If you want more information on a particular home, simply click on the marker on the map and it will open up the listing to show you up to 25 pictures of each home.
Recorded Home Sales In Killearn Acres
The following is a list of all homes sold in Killearn Acres (recorded in the Tallahassee MLS).
List Of Homes Sold In Killearn Acres
I hope you were able to learn something from our August 2014 Killearn Acres Home Sales Report, please drop me a note if you have any other questions or concerns that I can help you with.
Comments(0)