The Charts "Show" What The Numbers Might Hide

By
Real Estate Agent with Joe Manausa Real Estate 8508880888

Every month I like to take a look at all the Subdivisions in Leon County, Florida to determine inventory levels as well as price levels. Sometimes, we can chart out information and see what is going on in the Tallahassee Real Estate Market much more clearly than we can with just numerical data.

For example, I was wondering which Subdivisions in Tallahassee had the most homes on the market and I came across two interesting graphs. The first graph of Leon County Subdivisions shows the supply of homes in the Tallahassee Real Estate Market (Months of Supply). The Subdivisions in Red have significantly high levels of inventory, whereas those in green are much more normal (less than 9 months supply).

I happen to live in Golden Eagle Plantation and you can see that it is a "red" neighborhood with 16 months supply of homes on the market. I'll feel better when that drops even more (it was up higher two months ago!).

The second chart is interesting in that it shows how current pricing in each Tallahassee Subdivision compares with recent sold pricing. The three subdivisions with "green" bars actually have homes on the market with a lower average price than what has sold in the past, whereas those with the "red" bars are priced higher than what has sold in the past. We would always like to see the red bars on this graph, meaning prices are moving higher. The way to interpret this graph is relatively simple. Taking the first subdivision on left, "Southwood," we see that home on the market in Southwood are priced about 14% higher than the sales in Southwood over the past 12 months.

In case you are curious how your subdivision is doing, I have provided information below on every Leon County Subdivision that has five or more homes on the market.  

Subdivision

Units For Sale

Units Sold

Months Supply

Southwood1261629
Adams Place Condominiums18376
Adiron Woods131411
Arbor Hill11216
Astoria Park9912
Atlantis Ii Condo5230
Autumn Woods12217
Barrington Park Condominiums11266
Beacon Hill6324
Bent Tree Estates5320
Betton Hills301919
Betton Woods8332
Blairstone Forest11159
Bloxham Heights11266
Bradford Manor7242
Bradford Overlook80***
Breckenridge On Park10304
Briar Chase6107
Brighton Place11255
Brockswood Park9254
Buckhead11159
Buckwood5106
Bull Run24447
Callen Woods588
Camellia Gardens7614
Camelot Park9205
Campbell Park8911
Caroline Courts5160
Cedarbrook80***
Charleston Ridge597
Charleston Square7517
Chases Ridge5106
Chemonie Crossing689
Chesapeake Place5512
Continental Oaks8119
Cottages Of Miccosukee151180
Crawfordville Trace18356
Cresent Hills9264
Deerfield Plantation597
Dry Creek Run12169
Durward5415
Dyrehaven5415
Eastgate13722
Easton60***
Edinburgh Estates50***
Elberta Empire13820
Forest Heights10149
Forsythe Park5320
Foxwood8196
Gardens Of Killearn799
Golden Eagle Plantation624616
Golden Park6418
Goose Creek121510
Gramercy Place7614
Griffin College Heights5230
Hadley Crossing Court70***
Hampton Creek18604
Harbinwood Estates7614
Hartsfield Circle5160
Hartsfield Village6514
Hidden Lakes689
Holly Hills10187
Homestead Ridge7811
Hunters Crossing5415
Huntington Woods14199
Indian Head Acres8323
Kenilwood6418
Killearn Acres38657
Killearn Commons151711
Killearn Estates721118
Killearn Lakes Plantation791138
Lake Jackson Heights9814
Lakeshore Estates161414
Lakeside7136
Lakewood Village141313
Laurel Trace7108
Lenox Mill6324
Lexington Woods Condominiums200***
Los Robles6172
Mabry Manor121014
Majestic Oaks6324
Meadows At Woodrun161216
Melody Hills5415
Merrivale5160
Midyette Oaks Condominiums720***
Montejo Subdivision60***
Morningside Heights9336
Mystic Woods Condominiums444611
Oak Knoll Estates6172
Oak Valley579
Oakwood9427
Osceola Heights8714
Ox Bottom Manor292613
Park Charleston19366
Park Hill121014
Parkside579
Pebble Brooke47871
Pecan Grove Estates588
Pheasant Ridge5160
Piedmont Park6324
Pine Tip Hills9618
Piney-Z40588
Plantation At Heritage Oaks70***
Plantation Of Thl Pecan Co.9129
Plantation Woods13179
Plaza Tower1080***
Rattler Pointe7421
Renegade Condominiums11719
Renegade Village579
Residences At Whispering Pines50***
Rockbrook East7614
Royal Oaks698
Runnymede7108
Russell'S Pond91110
Sable Chase7328
San Mateo7421
Savannah Crossing Condominium191515
Sawgrass Plantation9167
Settlers Creek11255
Settlers Springs597
Shangri La Village5160
Shannon Forrest5203
Shire Ridge At Moccasin Gap7421
Sierra Woods6418
Sterling Woods5415
Stonebriar5230
Suburban Hills5415
Summerbrooke24427
Summerchase17307
Sunniland Terrace7118
Swift Creek Woods799
Talco Hills5135
Tallahassee Center271053
The Cloisters Of All Saints12246
The Glen At Golden Eagle7811
The Lakes At University Center7811
The Plantation At Heritage Oak10430
The Tennyson23931
The Timbers161811
Timber Lake5193
Town N County Park10139
Township One North10260
Trimfan5160
Tyson Green50***
University Green32943
Village Square Townhomes5230
Villas At Pine Forest50***
Villas Of Westridge151018
Walden Place8156
Waverly Hills8137
Weems Plantation161612
Westwood Condominiums10524
Wilson Green12364
Wilson Ridge50***
Winewood South60***
Wolf Creek161711
Woodbriar26745
Woodgate6324
Woodland Drive6145
Woodrun Garden Homes9427

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Joe Manausa, MBA, CRB, CRS | Broker / Owner | Century 21 First Realty

2365 Centerville Road | Tallahassee, Florida 32308 | 850-386-2001 | http://www.manausa.com/

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Rainmaker
186,139
Steve Shaw
Keller Williams Realty - Mobile, AL
e-PRO, Gulf Region Properties Team

Joe,

Very impressive charts.  Do you calculate Month's supply for each neighborhood or is it provided by the MLS reports?  If you calculate can you share the formula?

Thanks,

 

September 19, 2007 12:54 PM #1
Rainmaker
768,130
Joe Manausa
Joe Manausa Real Estate - Tallahassee, FL
Tallahassee Real Estate
Thanks Steve. This is all manual (and very time consuming).
September 19, 2007 06:53 AM #2
Rainmaker
25,311
Eva Armstrong
Environmental Visions - Tallahassee, FL
Environmental Visions
Joe, very interesting.  So to carry your analysis through on the importance of pricing and the next to last chart with the Southwood Subdivision:  would the sellers with homes that have been on the market for a while be wise to use the 14% as a guide for reducing the price of their homes to prompt the sale of their properties?
September 19, 2007 09:49 AM #3
Rainmaker
768,130
Joe Manausa
Joe Manausa Real Estate - Tallahassee, FL
Tallahassee Real Estate
Great question EVA. But 14% would only make them an "average" listing, I suspect that needs to be seen as the "too high" point and they must be at least below it.
September 19, 2007 09:51 AM #4
Rainer
274,098
Adam Waldman
Westcott Group Real Estate Company - Hauppauge, NY
Realtor - Long Island
JOE:  Another great looking post with easy-to-read charts.  Let's get that tutorial going my man!  I'm ready to learn.
September 19, 2007 01:24 PM #5
Rainmaker
768,130
Joe Manausa
Joe Manausa Real Estate - Tallahassee, FL
Tallahassee Real Estate

Thanks Adam. Working on it. So little time left after all is done....

 

September 19, 2007 01:48 PM #6
Anonymous
Anonymous
Tom

Good Job, Joe

I think you made a mistake about the Garden of Killearn, You had only listed 7 units for sale. From my personal experience by driving through the neigborhood yesterday, I saw just springfiled and Stow Trace had listing more than 7.

I think there are at least 30 units for sale in Garden of Killearn

September 22, 2007 02:18 PM #7
Rainmaker
768,130
Joe Manausa
Joe Manausa Real Estate - Tallahassee, FL
Tallahassee Real Estate

Thanks Tom and great point. One of the problems with our MLS is that the "Subdivision" field is user-entered, as opposed to user-selected. Many of the listings that you see on the street are listed as "Killearn Estates" in the subdivision and actually show up there. There were over 7000 listings in this report so I did not have time to filter anything but obvious typo's. Maybe the MLS will change to "point and click" on the Subdivision Field.

THanks for the Feedback.

September 22, 2007 02:27 PM #8
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