About Tallahassee's Killearn Acres

Killearn Acres is one of the most popular neighborhoods in Tallahassee and typically is in the top five or six in terms of the number of homes that sell each year. Located just north of Killearn Estates, it has been popular due to its location and price point (just above Tallahassee's median home price).

As with all subdivisions in Tallahassee, Killearn Acres is seeing real estate depreciation bring home values down.The current average home price is just under $158, and the average price per square foot of homes that have been sold this year is down to $93.

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This has created some wonderful home buying opportunities for both owner occupants as well as real estate investors who crave the stability that tenants in this Northeast Tallahassee provide. With a young-family make-up, Killearn Acres tenants often stay far longer than those in student rentals on the south side of the Tallahassee real estate market.

Home Prices Fall In Killearn Acres

Home sales in Killearn Acres are on pace to see about the same number of sales in 2011 as were recorded in the low record-setting 2010. Currently, there are 22 homes for sale in Killearn Acres in the Tallahassee MLS, priced from $119,900 to over $700K.

Home Values Down 29% In Killearn Acres

Home values in Killearn Acres have fallen a bit faster than home prices, meaning buyers have been gravitating towards the larger homes. This is not uncommon around Tallahassee, as low interest rates have enabled purchasers to get a lot more house for the money.

Click for full list of recent home sales in Killearn Acres

Home sellers in Killearn Acres are beating the market by a tiny margin, which is one little ray of good news for this very popular Northeast Tallahassee neighborhood. Home prices have fallen 26% since the peak of the market in early 2007, and they are still on the decline like the rest of the homes for sale in Tallahassee.

Currently, there are 29 homes listed for sale in Killearn Acres, and you can expect this off-shoot of Killearn Estates to continue to record home sales at a pace that leads most neighborhoods in Tallahassee. Killearn Acres consistently ranks in the top 10 most active subdivisions in Tallahassee in terms of the number of homes that sell each year, and currently it is the 7th most active neighborhood with 13 home sales in 2011.

The real estate graph above shows a familiar pattern of dropping unit sales and dropping home prices in Killearn Acres, and the trend continues to head in a downwards direction. If you have to sell a home in Killearn Acres, as with every other neighborhood in Tallahassee, you must make a decision on whether you plan to keep the home for 5 to 7 more years to wait-out the market, or sell it now. If now, you need to sell as soon as possible to get your highest price.

The home value decline that we see in the graph above represents a 29% drop since the top of the housing market, and the trend continues to fall. Home values now in Killearn Acres have fallen back to levels last seen prior to 2003.

List Of Recent Home Sales In Killearn Acres

Killearn Acres has been one of the top selling Tallahassee neighborhoods ever since I started my real estate career in 1991. It features homes that are priced near the median home price range in Tallahassee and you can use its historical home sales graph as a near-identical copy of the average home appreciation in the Tallahassee real estate market.

Something interesting I found when I studied the historic home sales in Killearn Acres was that the “boom market” of escalating sales ended early for some reason. Home sales slowed more than a year earlier here than it did in most other Tallahassee subdivisions, though prices did continue to climb until 2007.

View Killearn Acres Home Sales And Graphs