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Some Neighborhoods Can Beat The Market (For A While)
Homeowners in Ox Bottom Manor are seeing a lower and slower housing market than what they are used to.
That is no big shock, but I do find it surprising that home sales in Ox Bottom Manor are even slower then many of the other NE Tallahassee neighborhoods.
Ox Bottom Manor has recorded fewer than 20 sales per year since 2008. As a very popular Northeast Tallahassee subdivision that was used to seeing more than 40 home sales per year prior to the boom of the housing market, a reduction in the home sales rate by more than 60% is not so good.
But I have found the culprit, the reason why Ox Bottom Manor is slower than "everybody else."
It's because the homeowners in Ox Bottom Manor are holding on to their asking prices. Home values have dropped "only 27%" since the peak of the housing market. Currently, there are 18 homes for sale in Ox Bottom Manor, which is just over a year's worth of supply based upon the past four years rate of sales.
Home Sales In Ox Bottom Manor Home sales in the Ox Bottom Neighborhoods have picked-up slightly over last year's "worst-ever" performance, but they still ... more
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