Some Neighborhoods Can't Be Captured With "Averages"

Real Estate Agent with Joe Manausa Real Estate 8508880888

Home sales have slowed considerably in Eagles Ridge neighborhood, located inside of Golden Eagle Plantation.

In case you have never seen this usually popular NE Tallahassee neighborhood, it is situated just inside the Southern gate of Golden Eagle, and features homes near or on the Tom Fazio golf course.

In the past, it has been very popular with both retirees, as well as young professionals. I myself built a home in Eagles Ridge in 1995, but moved not long after as Michelle and I started to grow our family.

Eagles Ridge Home Sales Graph

Eagles Ridge Home Sales

Eagles Ridge is an interesting study, as average price and average value means very little.

There are homes on the golf course, homes on the water, and interior homes. Each has a different land value, and thus a price per square foot evaluation across the board does not account for the differences in the land.

Overall, we see that unit sales are down considerably, and that usually means that homeowners are holding on for their values.

The following information shows all the homes sold in Eagles Ridge for the past 9+ years. Can you guess which properties are on the water or golf course?

Recent Home Sales In Eagles Ridge

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Joe Manausa Real Estate
1934 Dellwood Drive
Tallahassee, FL 32303
(850) 366-8917

Comments (4)

Tricia Hoffmann
Your Home Free - Highland Village, TX

It is so hard to educate even ourselves sometimes when data is all over the map. 

I was just in an email trail with a potential client this morning about value.  She had a refi appraisal done last year at 250 and wants 20-25 more this year.  She had someone interested in her house at 270.  I told her that's awesome but we have to worry about appraisals, the "true" value of the house.  She didn't care much about price per square foot but that is something we have to be concerned with.

Good post!

Apr 02, 2012 11:07 PM
Adrian Willanger
206 909-7536 - Seattle, WA
Profit from my two decades of experience

Joe, Pretty interesting trend lines, we've seen similar patterns in the Pacific Northwest and yes we have lots of sellers waiting on the sidelines to jump in once prices start to go up

Apr 02, 2012 11:35 PM
Joe Manausa - Tallahassee, FL
Joe Manausa Real Estate - Tallahassee, FL
Tallahassee Real Estate

Thanks Tricia, we're still dealing with falling values, so that scenario hasn't been around for quite some time ... I can't wait.

Apr 03, 2012 12:21 AM
Joe Manausa - Tallahassee, FL
Joe Manausa Real Estate - Tallahassee, FL
Tallahassee Real Estate

Thank you Adrian. Waiting on the sidelines in a depreciating market with a glut of supply is very dangerous ... many tried for the past five years and got killed in Tallahassee.

Apr 03, 2012 12:22 AM