About Tallahassee's Avalon At Maclay

Recently, I’ve had a few people ask me about Avalon at Maclay and felt that it would make for a good blog post. This desirable Northeast Tallahassee neighborhood has seen the rise and fall of the housing market, with home values still falling from the peak of the market from just two years ago, making Avalon at Maclay “a poster child” for what is going on in Tallahassee.

Thus far, single family detached homes in the Avalon (Villages at Maclay) have depreciated roughly 21% since the peak of the market in 2007, which is consistent with other areas of the Tallahassee real estate market. Home values were once trending nearly $170 per foot and have since dropped to just above $130 per foot.

In the real estate graph below, the blue vertical bars show the trend of average monthly home sales in Avalon at Maclay are fewer than one home sale per month, while the green shaded region shows average values (measured in price per square foot) have dropped in the past few years.

What this means is that a neighborhood which saw the trend of average home values reaching near $280K has seen average prices drop in the $220K range. With continued falling prices, I suspect that we’ll be back to 2004 levels in the coming months, which suggests average home prices in Avalon at Maclay to drop below $200K. This is not an indictment on the neighborhood, rather it is the result of too many homes on the market with many more on the way.

The graphs above featured the single family detached home sales in the Villages at Maclay, but the table below includes all sales in the “Villages of Maclay T/H” subdivision. Note that the table is sortable by clicking on any column heading, thus you can view the information in any order that you like.

[click to see list of arms length home sales in Avalon at Maclay]