Bobbin Trace sees more home sales than Bobbin Brook and Bobbin Mill Woods combined, and these popular high-end neighborhoods in Tallahassee have been hit harder than many since during the decline of the housing market. Located in the northeast quadrant of the Tallahassee real estate market, the Bobbins have been a highly desired address for over 20 years.
Currently, there are 7 homes for sale in the Bobbin neighborhoods, with 3 in Bobbin Mill Woods and 4 in Bobbin Brook. Currently, there are no active MLS listings in Bobbin Trace, though 2 were sold this summer.
Bobbin Trace Most Active In Bobbin Home Sales
Bobbin Trace has accounted for more than half of all sales in the Bobbin Neighborhoods over the past 9 years, and nearly two thirds of all Bobbin sales have been in Bobbin Trace over the past three years. The graph below shows all Bobbin neighborhoods home sales in the Tallahassee MLS since 2002.
Map Of Bobbin Neighborhood Home Sales
(Note: Email subscribers must click the title of this article to get to the website and see the properties on the map. Click any red dot in the map for details of the home sold)
Bobbin Neighborhood Home Prices Fall
Due to a limited number of sales in the Bobbin neighborhoods, we see a lot of "noise" as we track the data from these high end home sales. The real estate graph below shows that the average home price in the Bobbins has dropped 49% since the peak of the market, but again, due to limited sales, our results are heavily skewed by the fact that there is not enough sales to average out the extremes. Nevertheless, it should be quite apparent that if you are thinking about selling a home in Bobbin Trace, Bobbin Mill Woods, or Bobbin Brook, you should know that the average home price has been dropping.
Bobbin Neighborhood Home Values Trend
This next graph provides a little more accurate snapshot of how the Bobbin neighborhoods are performing in the real estate market. The average price per square foot of a home sold in Bobbin Trace, Bobbin Brook, and Bobbin Mill woods has dropped 34% since 2005 when the average sales value rose to $219 per square foot. Currently, the four homes that have been sold in the Bobbins have yielded an average value of $144 per square foot.
