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Virginia Highland Real Estate Report | 2Q 2013

By Kerry Lucasse |

Virginia Highland Real Estate Report for 1Q 2013

As one of Atlanta’s most popular neighborhoods,  Virginia Highland real estate is always in demand due to location, location, location AND some of the best festivals, restaurants and night life and public elementary schools in Atlanta.    It’s no surprise that we have some good news to report for second quarter of 2013.   If you think this might be the perfect Intown neighborhood for you and your family, view all the Virginia Highland homes for sale.

 

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2013 Home Sales Update for VAHI

Virginia Highland real estate market report by Nest AtlantaApril 1, 2013 – June 30, 2013 (Second Quarter)

Single Family Homes in Virginia Highlands | Atlanta, GA | 30306

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

 

HOME SALES

Virginia Highland home sales are down slightly from the same time last year (36 vs 42 homes sold), but the number may be low, as several homes sold BEFORE they even hit the market and were not listed in the Atlanta multiple listing system (FMLS).

 

HOME VALUES / AVERAGE SALES PRICES

As the market shifts to find our new “normal”, the average home sales price is down from 1Q2013, but at $610,000 it is the highest it’s been since 2Q of 2008 ($610K vs $641K)
The 2Q 2013 home sales prices ranged from $325,000 to $1,364,000.

 

LISTING PRICE VS FINAL SALES PRICE

Virginia Highland homes sold on average, at 96.8% of the asking price — the highest it’s been in 5+ years!

25% sold at the FULL the asking price (or more)  and a large percentage sold at 1% or 2% below asking price. In the past, many home sellers wanted to add a little “padding” to the listing price so that they would have room for negotiation. In the current market, it is best to price at fair market value. Not only will you sell in a reasonable amount of time, you may also receive multiple offers and can sell your home at top dollar to the most qualified buyer.

 

HOW LONG DOES IT TAKE TO SELL A HOME?

Last quarter homes sold 3x faster than 2Q 2012 (49 vs 147 days).

Inventory levels remain low and demand is high, so when a home is priced at fair market value the day it is listed, 47% of the homes are selling in two weeks or less.

 

SNEAK PREVIEW FOR 3Q 2013

Experts agree that home sales will continue to strong Virginia Highland, even with the increase in interest rates.  Once the inventory levels increase it, the real estate market should become more balanced and bidding wars will be a thing of the past.   — and inventory remains low.  There are only 32 homes currently for sale, so the absorption rate is still under three months.  View the latest listings available in Virginia Highlands.

 

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THINKING OF SELLING YOUR ATLANTA HOME THIS YEAR?

If you would like to learn more about our over-the-top home marketing and  listing services and/or get a better understanding of the current market value of your 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.

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Related Information

NEWLY LISTED  Homes  in Virginia Highland >>

More real estate news for VAHI >>

Virginia Highland Real Estate Guide >>

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Posted by:
   Kerry Lucasse  ::  Home Listing & Marketing 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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