Located on the NE side of Tallahassee and inside of Golden Eagle Plantation, the Glen At Golden Eagle is a newer neighborhood with most of the houses constructed between the years of 1997 and 2006.
As many of these houses were built and sold during the booming years of the housing market, it means that the typical move cycle for many of the homeowners occurred just as the housing market began to crash. Compound that will fallen values and you should expect significant pent-up supply in the Glen at Golden Eagle.
In this report, we will look at prices, values, and sizes of houses in the Glen At Golden Eagle, as well as show current listings in the Tallahassee MLS and all closed house sales going back to 2007.
The Glen At Golden Eagle House Prices
For all of the 3 real estate graphs found below, you will find the number of closed house sales for each year (blue columns, measured on the left vertical axis), and an important real estate statistic shown in red (measured on the right vertical axis. It is important to note that sales are through December for all previous years, but through October in 2014.
Average house prices have not changed much in the past two years, but are still higher than the low established in 2012. Distressed sales are are occurring at a higher than average pace when compared with other neighborhoods in Tallahassee (3 of the past 9 sales have been distressed). The average recorded sales price is $179,000 for the Glen At Golden Eagle thus far in 2014.
House sales activity this year is consistent with what we have seen over the past four years, but still far below what will be needed for the Glen to enjoy its own housing market recovery. Thus far in 2014, there have been 8 closed house sales in the Glen At Golden Eagle.
The Glen At Golden Eagle House Values
Average house values in the Glen At Golden Eagle have declined since last year, but they are still up nicely when compared to a low set back in 2012.
Through October, the average value of a house sold in the Glen At Golden Eagle has been $115 per square foot. This is up 12% over the bottom reached in 2014, but still down about 22% from the market high set back in 2006. This means that many homeowners who have purchased or refinanced in the past 8 years are likely at zero or negative equity situations.
The Glen At Golden Eagle House Sizes
The average house size sold in the Glen At Golden Eagle typically falls in a range of 1,500 to 1,700 square feet, and this year house sales are nearer the bottom of this range. The 8 sales thus far in 2014 have averaged 1,558 square feet.
Just as we have warned with other "boom neighborhoods," a mass exodus could be cause for value concerns. If you have a vested interest in the Glen at Golden Eagle (or would like to), just keep a close eye on inventory. If 10 or more houses hit the market at once, it might be a sign that the pent-up supply needs to vent.
Houses For Sale In The Glen At Golden Eagle
The following list of houses are the most recent listings in the Glen At Golden Eagle.
The Glen At Golden Eagle House Sales
The following list shows house sales going back to 2002 in the Glen At Golden Eagle.
I hope you enjoyed our October 2014 update on house sales in the Glen At Golden Eagle, please feel free to drop me a note if you have questions not covered in this report.