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Candler Park Real Estate Sales Stats | 2Q 2013

By Kerry Lucasse |

 

Candler Park Real Estate Sales Stats | 2Q 2013

It’s no surprise that the Candler Park real estate market is hot, hot, hot.  This neighborhood has always been a favorite with Intowners, thanks to the historic homes, schools, restaurants, festivals and a fabulous location – it’s just a hop, skip and a jump from Little Five Points, Inman Park, Lake Claire and just a five minute drive to Downtown Atlanta.   If you think this might be the perfect neighborhood for you, learn more about the neighborhood, schools and view all the Candler Park real estate for sale.

 

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2013 Candler Park Real Estate Market Update

Candler Park Real Estate Sales StatsApril 1, 2013 – June 30 2013 (2nd Quarter)

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

Data extracted by Kerry Lucasse from the Atlanta FMLS on 07/7/2013.  Information may change without notice and data is deemed reliable, but not guaranteed.

 

HOME SALES

The number of Candler Park homes sold is up about 10% from the the same time last year, but we reached the highest number of homes sold in second quarter in the last 5+ years (29 in total). This number may even be a little low, as many homes around Atlanta sold before they were officially listed in the multiple listing service.

 

HOME VALUES / AVERAGE SALES PRICES

Like the number of homes sold, the average home sales price is also UP this quarter ($487,092) — almost $100,000 higher than 2Q of 2012!  The last time the Candler Park average sales price was in the high $400s was just before the market crashed at the end of 2008.

The 2Q 2013 home sales prices ranged from $294,500 to $815,000.

 

LISTING PRICE VS FINAL SALES PRICE

The average original listing price to final sales price was 96.4% — or another way to look at it is the buyers were getting 3.6% off the asking price, on average.

Over 30% of the Candler Park homes sold at or OVER the listing price! In the past, home owners would add a little “padding” to the listing price, so they would have room to negotiate. In the current market, it is best to price your home at the fair market value because you have an excellent chance of selling for the full price and a very good chance of creating a bidding war for your home.

 

ABSORPTION RATE IN CANDLER PARK

There is no doubt that we are in a Seller’s Market in Candler Park — in 2Q, the absorption rate is at just 2 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 2 months. A balanced market is 5 months worth of housing inventory, anything below that is a seller’s market and anything over 5 months is considered a buyer’s market.

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HOW LONG DOES IT TAKE TO SELL A HOME IN CANDLER PARK?

If you are thinking of selling your home, understanding how long it will take is always important. The good news is that if you price your home correctly (at fair market value), it should take less than two weeks to sell in the current market.

Candler Park homes are selling in half the time, compared to last year at this time — 47 vs 109 days on average. This is another record! Even in 2008 we didn’t see numbers like this.

For those homes that were priced, staged and marketed correctly, almost 50% sold in 15 days or less.

 

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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

More Candler Park Real Estate Market Reports

Nest Atlanta Market Reports >>

Candler Park Atlanta Homes for Sale & Real Estate Guide >>

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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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