Our newest Killearn Lakes housing report shows that this popular NE Tallahassee neighborhood is leading the way in the real estate recovery.
Perhaps the most popular neighborhood in Tallahassee, Killearn Lakes Plantation has recorded the most home sales every year for quite some time.
Simultaneously, average home values have been rising for the past year, something not many other subdivisions in Tallahassee can boast.
Killearn Lakes House Values
Currently, there are 44 homes for sale in the Killearn Lakes real estate market (and 39 homes for sale in Golden Eagle Plantation, plus 12 more homes for sale in Eagle's Ridge and the Glen, all of which are part of Killearn Lakes Plantation).
Unlike some of the other larger neighborhoods in Tallahassee (Southwood, Killearn Estates, Killearn Acres, Bull Run, Ox Bottom Manor, etc.), Killearn Lakes real estate reporting is segmented by sub-neighborhoods, so our Killearn Lakes real estate report does not include Golden Eagle Plantation, Golden Eagle Reserve, nor Eagle's Ridge. Think of it as all of Killearn Lakes homes that are "outside of the gates."
The real estate graph above shows that average home values rose from June 2012 through March of 2013. Values have been trending slightly lower for the past two months, and this coincides with a seasonal surge in the number of Killearn Lakes real estate closings during the past two months. Will this trend continue downwards, or is it merely a blip in the data?
Distressed Killearn Lakes Homes
While the supply of distressed homes for sale in Tallahassee has fallen slightly, the number of distressed Killearn Lakes home sales has dropped significantly.
In the graph above, the green vertical bars show arms length home sales, while the red bars stacked on top of them show the number of distressed home sales each month. Even with the large number of distressed closings in May, the overall percentage of these sales is down to 22% from a high over 35%.
The following table shows all Killearn Lakes house sales (nearly 1400 of them) in the Tallahassee MLS going back to 2002.