The average price of a home in the Ox Bottom communities has dropped 43% since the peak of the market in 2007, and the abundant supply of homes for sale in this popular northeast Tallahassee neighborhood means that pricing pressures will continue. Today’s report includes five subdivisions that all share the Ox Bottom name, including Ox Bottom Manor, Ox Bottom, Ox Bottom Reserve, Ox Bottom Gardens, and Deerwood at Ox Bottom Manor.
The first real estate graph shows a nine-year run of declining home sales in Ox Bottom, and the Tallahassee MLS currently lists 24 homes for sale with a median price of $355K and an average time on the market of nearly 4 months.
Recent sales prices show such a drastic drop because many buyers are choosing the less expensive homes in Ox Bottom Gardens, where the highest recent price was less than $220K. The highest sales price this year in the Ox Bottom neighborhoods was $330K, and that was a home CENTURY 21 First Realty sold on Sinkola Drive in January. If you need to sell a home in Ox Bottom, take a look at our internet marketing plan to sell a home, it has helped many sellers succeed in a market that is showing a 60% failure rate for people trying to sell a home.
When we look at real estate values in Ox Bottom, we see a “slightly below market” drop of 32% since the peak of the market in 2006, and a trend that appears to be continuing downward. This means that there are going to be some great opportunities to be found in Ox Bottom for many years to come, and by looking at the list of homes for sale in Ox Bottom, some of those can be found today.