Hyper Local Neighborhood Reports Separate Fact From Fiction

Homeowners in the Ox Bottom neighborhoods are seeing a lower and slower housing market when compared to many of the other NE Tallahassee neighborhoods. This collection of traditionally very popular subdivisions has seen home sales slow faster than the rest of Tallahassee, and home values have dropped at a faster rate as well. Currently, there are 26 homes for sale in Ox Bottom, which includes the Deerwood At Ox Bottom Manor, Ox Bottom, Ox Bottom Gardens, Ox Bottom Manor, and Ox Bottom Reserve.

Home Sales In Ox Bottom Neighborhoods

Home sales in the Ox Bottom Neighborhoods have picked-up slightly over last year's "worst-ever" performance, but they still are well below one-half the rate these communities would expect to see in normal years. Based upon this current rate of sales, the relative supply of homes for sale in the Ox Bottom neighborhoods is right around 12 months of supply.

Home Prices In Ox Bottom Neighborhoods

The average price of a home sold in the Ox Bottom Neighborhoods this year is $287K, which is down 36% from the $450K average home sales price that was recorded in 2006. The real estate graph below shows that home prices are right back where they were in 2003, and the trend is still declining.

Home Values In Ox Bottom Neighborhoods

More importantly, the Ox Bottom neighborhoods have seen home values decline 31% from $169 per square foot in 2006 to just $117 per square foot through November in 2011. The real estate graph below shows that this trend is still on a downward path, so home seller's should expect to get less money for their homes next year than they would have received in 2011. This means that homeowners who are thinking about selling a home in Ox Bottom should either plan to hold onto the home for many more years, or sell it as fast as possible to get the top dollar in a declining real estate market.

Click For Recent Home Sales In The Ox Bottom Neighborhoods