East Atlanta 30316 Real Estate Market Report
Q3 2019 (July 1 – Sept 30) | Atlanta, GA 30316
It’s time again for the 30316 Real Estate Market Report! For the last 7+ years, the East Atlanta area has been in high demand, as more homes were being renovated and charming restaurants and shops popped up in and around the East Atlanta Village, the Beltline and Glenwood Park. Earlier this year we witness a downward trend in the average home sales price, but we’re happy to report that it seems to have spiked back up! Homes did take a lot longer to sell this quarter and many buyers were negotiating a fair amount off the asking price, but overall the market remains fairly strong. If you are thinking of selling your East Atlanta home in the next year or so, we highly recommend that you read the full East Atlanta 30316 Real Estate Market Report below.
If you have questions along the way, we’re right in the East Atlanta Village. Pop by or contact us anytime.
3Q 2019 Summary of the East Atlanta Real Estate Market
169 homes sold in the 3rd quarter of 2019. That’s a slight decrease from the same time last year when 183 homes sold in East Atlanta.
East Atlanta Home Prices
The average single-family home price was $361,121. That’s a whopping 9.7% increase from the same time last year when the average sales price was $329,441.
- The median home sales price of $357,155 up from $340,000 last year. Not quite the same increase that we see in the average sale price, but still impressive.
- Home sales this quarter ranged from $110,000 to $981,000
- About 10% of the 30316 homes that sold were new construction
- An impressive 26 homes sold under $200,000 — proof that there are still deals to be had for first time home buyers and investors!
How Fast are Homes Selling?
Single-family homes in the 30316 zip code are taking about 2x longer to sell in this market. The median # of days on the market was 40, compared to last year when it only took about 19 days to sell a home.
If you are thinking about selling your East Atlanta area home in the near future, make sure you have the latest real estate stats and also get home valuation estimates from at least 2 to 3 local real estate agents (like us!). Once you have all the data and estimates in front of you, you’ll quickly see that your home falls within a $10K or $20K price range. If you are able, its a very good idea list your home on the lower end of the range. Here’s why…
Now that the market is starting to shift from a seller’s market to a buyer’s market, buyers are going to be much (MUCH) more picky about the home they purchase and often won’t even tour a home they think is ‘overpriced’. By listing on the lower end of your home’s fair market value, you should be able to sell your home faster and there is a good chance that it will generate multiple offers. When you have multiple buyers vying for your home, there is a good chance you will get the full asking price (or more!) for your home.
Are Home Sellers STILL Getting Top Dollar?
Yes and no. The average list price to sales price percentage dropped substantially from the same time last year, going from 103% in the Fall of 2018 to 96.8%. Because there are more homes on the market, 30316 home buyers are in a better position to negotiate and on average, they are getting about 3.2% off the asking price. It may not sound like much, but on a $400,000 home, that’s about $13,000.
On a good note… Most of the 30316 homes that sold for the full asking price also sold in the first week they were listed.
Or call us at 404-205-8800 if you have questions about the current real estate market.
Most Expensive Homes Sold in East Atlanta 30316
7/1/2019-9/30/2019 – Single Family Homes
|970||Glenwood Park Dr||6||4.5||Glenwood Park||$999,999||$981,000||43|
|861||Mercer St||4||3.5||Ormewood Park||$789,000||$765,000||23|
|661||Vernon Ave||5||3||Ormewood Park||$698,500||$686,000||26|
|486||Blake Ave||4||3||East Atlanta||$659,900||$650,000||54|
|386||Bill Kennedy||4||3.5||Glenwood Park||$627,500||$615,000||60|
|978||Ormewood Park Dr||3||3.5||Glenwood Park||$619,000||$599,900||114|
|1516||Van Vleck Ave||5||3.5||East Atlanta||$589,900||$575,000||204|
|1437||Sargent Ave||4||3||East Atlanta||$529,900||$529,900||0|
|953||Moreland Ave||5||4||Ormewood Park||$599,000||$525,000||56|
|904||Bouldercrest Dr||4||3||East Atlanta||$519,000||$524,500||115|
|453||Hemlock Cir||4||3||North Ormewood||$549,500||$520,000||29|
|1130||Fayetteville Rd||4||3.5||East Atlanta||$529,900||$495,000||193|
The East Atlanta 30316 real estate market home sale stats for 3Q 2019 were extracted from the Atlanta MLS (FMLS) on October 9, 2019, and interpreted by Kerry Lucasse with the Urban Nest Real Estate Group at eXp Realty LLC. Information deemed accurate but is subject to change. Please note that in the chart above, “DOM” just means “Total Days on Market” or how long it took the home to sell.
If you would like a copy of the full 30316 home sales report, including photos of the recently sold homes, please text or call Kerry at 404-432-1844. She would be happy to email you a copy!
The 30316 real estate market spans some of Atlanta’s most sought-after neighborhoods including East Atlanta Village, Glenwood Park, Ormewood Park, Reynoldstown, Gresham Park and a portion of Cabbagetown. Learn more about the area and view all the homes for sale in this popular Atlanta zip.