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.