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2013 Candler Park Real Estate Report 1Q

By Kerry Lucasse |

 

2013 Candler Park Real Estate Market Report & Home Values

Candler Park has always been an Atlanta favorite and if you are looking for location, location, location, this Atlanta neighborhood has it all, so it is easy to see why we have GREAT news to report about the Candler Park real estate market and current home values!

 Centrally located between Little Five Points (L5P), Inman Park, Lake Claire and Druid Hills and is less than 5 minutes away from Downtown Atlanta.  This hip “intown” neighborhood has lots of character — from the 1920s Craftsman Bungalows to some of the best restaurants, pubs and parks in Atlanta.  Every year there are more than a dozen annual festivals, including the the Sweetwater 420 Festival, Halloween Parade, Mid-Summer Music Festival and Candler Park Fall Fest.  If you think this might be the perfect neighborhood for you, view all the Candler Park real estate for sale.

 

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Candler Park Real Estate Market and home sales in 2013 2013 Candler Park Real Estate Market Update

January 1, 2013 – March 31, 2013 (1st Quarter)

Single Family Homes Sold in Candler Park | Atlanta, GA | 30307

Data extracted by Kerry Lucasse from the Atlanta FMLS on 05/1/2013.  Information may change without notice and data is deemed reliable, but not guaranteed.

 

HOME SALES

The number of Candler Park homes old is WAY up – we sold more that 2x the number of homes from the same time last year (13 vs 6) – so we are now on par with the home sales of 1Q 2008 (before the market crashed).

 

HOME VALUES / AVERAGE SALES PRICES

Like the # of homes sold, the average home sales price is also UP this quarter ($474,165) — almost $100,000 higher than 1Q 2012!

We also hit the million dollar mark this quarter with a home on Clifton Terrace selling for $1.057M!

The 1Q 2013 home sales prices ranged from $205,000 to $1,057,000.

 

LISTING PRICE VS FINAL SALES PRICE

The average original listing price to final sales price was 96.2% — or another way to look at it is the buyers were getting about 4% off the asking price.

Over 23% of the Candler Park homes sold for OVER the listing price!

 

ABSORPTION RATE IN CANDLER PARK

Experts agree that an absorption rate of 5 months or less is considered a Seller’s Market and in the 1Q of 2013, the rate is VERY strong at 5.02 months.  

What does that mean?  The absorption rate calculates housing inventory versus demand.  If no other homes were listed in Candler Park, the inventory of available homes would be depleted within 5 months.

 

HOW LONG DOES IT TAKE TO SELL A HOME?

If you are thinking of selling your home in Candler Park, potential sellers always want to know “how long will it take to sell my house?” or how many days can we expect it to be on the market.    If you price your home correctly (at fair market value), it should take less than 30 days to sell in the current market.

Total days on market is in line with the same time last year (71 vs 69) but it is a vast improvement from the 1Q 2009, when it took 3x longer to sell a home (218 days to be exact!).

For those homes that were priced, staged and marketed correctly, 38.5% sold in 10 days or less.

On the flip side, 46% took 75 days or more to sell. This happened for several reasons — the homes were priced too high when they were first listed and had to reduce the price one more more times – OR – the homes were being renovated and were listed before the renovation was complete, so they appear to take longer to sell.

 

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Thinking of selling your home in this year?

If you would like to learn more about our home marketing and  listing services and/or get a better understanding of the current market value of your Candler Park home, please don’t hesitate to call us at 404.432.1844.

Learn more about our flexible listing commission plan for Atlanta home sellersMeet our buyers! One may be the perfect fit for your home.

 

Related Information

JUST LISTED  Homes for Sale  in Candler Park >>

2012 Candler Park Real Estate Market Report

Candler Park Atlanta Real Estate Guide >>


Posted by:
   Kerry Lucasse  ::  Candler Park’s Biggest Fan & Real Estate Specialist

Ian Marshall Realty ::  Nest Atlanta Real Estate Group

Call anytime @ 404.432.1844

Find Kerry Lucasse and Nest Atlanta on Google+

All information contained in this blog is deemed to be reliable but not guaranteed.   If you need real estate  assistance, the Nest Atlanta team is always available to assist you with your residential real estate needs!

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