RECENT POSTS

CATEGORIES

TAGS

ARCHIVES

Real Estate Market Update – Morningside Atlanta

By Kerry Lucasse |

Morningside Atlanta Real Estate Market 3Q Update


Home sales in Morningside Atlanta

It’s been a bumpy road for Atlanta real estate, but many homeowners are starting to breathe a sigh of relief, as Morningside Atlanta home values start to increase, bidding wars are commonplace, and many homes are selling in 30 days or less.

 

To the right you’ll find a quick summary of the Morningside home sales activity for 3rd Quarter (July-Sept) of 2012, as compared to the same time period for the last five years.   The graphs may not “WOW” you, but wait until you read the over-the-top Morningside home sales statistics below…

 

*************************************************

MORNINGSIDE ATLANTA REAL ESTATE HIGHLIGHTS

07/01/2012 through 09/30/2012

Data extracted by Kerry Lucasse  from the Atlanta First MLS

************************************************

 

* The number of Morningside Atlanta homes sold in the 3rd quarter is the highest it’s been in many years — up 36.6% from 2008.

 

* Homes are selling 35% faster (on average), as compared to the same time last year AND 2008

 

* 37% of the homes sold were under contract in less than a month and 15.5% only took ONE WEEK to sell.

 

* Homes are selling at or very close to the listing price – 95.1% on average.  It’s the highest average in the last 5 years.

 

*  The average Morningside home sales price ($578K) is UP 10.4% from the lowest point in 2010, but we still have a way to go to get back to the $676K average sales price of 3Q 2008.

 

*  Almost 20% of the Morninside homes sold for FULL PRICE or slightly higher!    We would love to shout this statistic from the rooftops!   Thanks to a short supply of quality homes and sellers pricing their homes at fair market value on the day that it is listed, buyers are coming out of the woodwork and submitting offers the first day the home is listed.

 

 

THINKING OF SELLING YOUR HOME?

If you talk to anyone who is trying to buy a home under $650K in the Morningside / Lenox Park area, they are sure to talk your ear off about the limited supply of quality homes for sale (especially 1920s bungalows and English Tudors), dramatic  bidding wars, and homes selling the first day they are on the market — sometimes before they are officially listed in the multiple listing system.  If you consider the current demand and the fact that almost 20% of the listings in Morningside Atlanta sold for at least 100% of the asking price and 37% sold in less than a month, it may be a good time for you to list and sell your home!

 

After selling 15 homes in a row with multiple offers, I will tell you that there is an art to creating demand for a home and a sense of urgency with potential buyers.  If you would like to learn more about how we market our listings or if you would like a custom marketing plan or home valuation, please call anytime.

Kerry Lucasse | Home Marketing Specialist | 404.432.1844. 

***********************************************************************

 

Morningside homes for sale AtlantaRELATED ARTICLES & INFORMATION

More Atlanta Real Estate Statistics — See how the other Intown neighborhoods are stacking up!

Morningside Atlanta Real Estate Guide — Homes for sale

Virginia Highland homes for sale

Townhomes for sale in Morningside / Virginia Highland

 

 

REAL ESTATE UPDATE CREATED & POSTED BY:

Kerry Lucasse | Morningside Atlanta Real Estate Specialist |  Team Leader for the Nest Atlanta Real Estate Group | NestAtlanta.com

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 Morningside Atlanta real estate, Kerry Lucasse and her remarkable team of real estate agents are always available to assist you!

Atlanta Real Estate News & Events

This entry was posted in Morningside, Real Estate Market Stats, Virginia Highland and tagged , , , , .

Bookmark the permalink. Follow any comments here with the RSS feed for this post.

Both comments and trackbacks are currently closed.