East Atlanta Real Estate Report & Market Update for 3Q 2012
After years of trying to find a little ray of sunshine in the East Atlanta home sales reports, I am so excited to FINALLY be able to report real progress in the 30316 real estate market.
In the charts to the right, you will find a summary of the sales activity for 3rd Quarter (July-Sept) of 2012 and compared it to the same time period for the last five years. The East Atlanta area (30316) also includes Ormewood Park, Gresham Park, a portion of Cabbagetown / Reynoldstown, and of course the East Atlanta Village.
EAST ATLANTA REAL ESTATE HIGHLIGHTS:
* Home sales prices ranged from $9,150 to $459,900 with the average at $147,886 — up 10% from the same time last year!
* The number of East Atlanta homes sold is on par with last year’s numbers (125 vs 128 homes sold). 2010 was definitely the low point for the number of homes sold.
* The average time to sell a home dropped by almost 20% from last year and is the LOWEST in 5 YEARS!
* Over 30% of the homes sold in less than 2 weeks (how ’bout them apples!?!)
* Close to 50% of the East Atlanta / Ormewood Park area homes sold in less than a month.
* Thanks to the short supply of homes, not only are homes selling faster, many are getting multiple offers and selling closer to the listing price. Last quarter, the average home sold at 98.2% of the original listing price (or 1.8% off the asking price).
* About 70% of East Atlanta home sellers contributed to all or part of the buyer’s closing costs. So if you are thinking about selling your home, be prepared to contribute about $2800 on average to the buyer’s closing costs.
Thinking of selling your East Atlanta / Ormewood Park home?
If you talk to anyone who is trying to buy a home under $300K, they are sure to talk your ear off about the limited supply of quality homes for sale, bidding wars and homes selling before they can even run to the agent’s office to write up an offer. Long story short, it may be a very a good time for you to list and sell your home!
ICING ON THE CAKE…. Because the Nest Atlanta Real Estate Group is celebrating our 2 year anniversary in the East Atlanta Village, we are offering all of the home sellers in the 30316, 30317 and 30312 zip codes almost 20% off our full service real estate commission!
Please call me, Kerry Lucasse, anytime at 404.432.1844.
If you would also like a sneak peak of how I market my listings, just ask and I’ll send you a copy.
WANT TO SEE WHAT’S CURRENTLY FOR SALE IN EAST ATLANTA AND ORMEWOOD PARK?
- EAV Homes for Sale (including foreclosures!)
MORE ATLANTA NEIGHBORHOOD REAL ESTATE REPORTS
Kerry Lucasse | Home Marketing Specialist and Team Leader for the Nest Atlanta Real Estate Group in the East Atlanta Village
404.432.1844 (c) | 404.281.6350 (b) | Ian Marshall Realty – Intown office
All the home sales data was extracted by Kerry Lucasse from the Atlanta First Multiple Listing System (FMLS) on 10/04/2012. Information deemed to be reliable but not guaranteed. The Nest Atlanta Real Estate Blog - Copyright 2006 – 2013 by Kerry Lucasse and the Nest Atlanta team with Ian Marshall Realty – Intown Atlanta. If you need assistance with East Atlanta real estate, Kerry Lucasse and the Nest Atlanta Real Estate Group are always available to assist you with your residential real estate needs!