Home Values Still Down In Killearn Acres

By
Real Estate Agent with Joe Manausa Real Estate 8508880888
http://actvra.in/YgY

Northeast Tallahassee has many popular neighborhoods, and today we feature Killearn Acres that has houses with prices very close to Tallahassee's median home sales price.

Currently, there are 23 homes for sale in Killearn Acres, and they range in price from $120,000 to $260,000.

Killearn Acres house sales are usually fairly brisk, and it is why this subdivision can usually be found among the top five or ten most active neighborhoods in Tallahassee.

Killearn Acres Housing Report

Our first real estate graph shows some good news for people who need to sell a house in Killearn Acres.

The number of distressed home sales has dropped from a peak above 40% so a current level of 27%. This means that more than one in every four home sales in Killearn Acres is either a short sale, a foreclosure, or a bank owned property.

This number of distressed houses in the market are keeping values down, as buyers are willing to wait for properties that are being liquidated.

Killearn Acres Home Sales Report

Our second graph shows that home values have not yet begun to turn as we have seen in some of our other Northeast Tallahassee neighborhoods.

In the graph below, the green bars show the number of arms length home sales each month, while the red line (measured on the right vertical axis) measures the one year trend of average home values.

The average value of an arms length house sale in Killearn Acres over the past year has been $102 per square foot, which is about 24% lower than values found at the peak of the market.

Killearn Acres Home Sales 

 

Recent Killearn Acres House Sales

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