30316 Real Estate Market Report
Covering the East Atlanta Neighborhoods / 30316 Zip Code | January – December 2018
The 30316 real estate market was one of the hottest for home sales in 2018 and we think there are even more good things to come in the new year! This Intown zip is home to the East Atlanta Village, Ormewood Park, Reynoldstown and part of Cabbagetown and we think that many homeowners are giving themselves a big pat on the back for making their “nest” in 30316!
Below you’ll find the latest update on the 30316 real estate market, including recent home sales, current trends and of course, the latest East Atlanta area home values. We’re on a mission to keep you well-informed and current on the latest market trends, so we hope you enjoy the 2018 edition of the 30316 Real Estate Market Report…
Atlanta 30316 Real Estate Market for 2018
EAST ATLANTA HOMES SOLD
A total of 714 single family homes sold in Atlanta’s 30316 zip code. This is right on par with 2017, where we had 716 home sales. The demand for homes under $500K is still very (VERY) high in the East Atlanta neighborhoods, so if inventory levels increased, we feel confident that the number of sales would as well.
** See the homes that recently sold in the 30316 zip code at the bottom of this report!
We saw another nice increase in the average single-family home sales price this year at $341,034. That’s a $26,000 INCREASE (8.3%) from the same time last year. Not too shabby, East Atlantans!
A few more interesting nuggets on East Atlanta area (zip code 30316) home values:
* In 1Q 2018, home sales ranged in price from $25,000 to $1,015,000, with the median sales price at $340,000
* We had two home sales over a MILLION dollars in 30316 this year! Both were new construction homes on Faith Avenue boasting 4000+ square feet
AVERAGE SALES PRICE (2014 – 2018)
Aren’t you just the tiniest bit curious about what your home is worth? Request a home valuation and we’ll email you a full report with an estimate on your home’s current value.
HOW LONG DOES IT TAKE TO SELL A HOME IN 30316?
Single-family homes took 31 days to sell on average — BUT 39% of the 30316 homes sold in less than ONE week.
The median number of days on market was only 14 (vs 12 days last year) and we would consider that a more accurate reflection of what is happening in today’s 30316 real estate market, as were a few factors at play. First, several new construction and/or home renovations were listed in the MLS before the homes were finished. Also, several homes priced a little too high when they were first listed and they sat on the market – some for almost a year!
MEDIAN # OF DAYS TO SELL A HOME (2014 – 2018)
If you are thinking of selling your home and it is priced at the fair market value, it will probably sell within the first month. If you own a charming, updated bungalow under $600,000 that’s near the East Atlanta Village or is located in Ormewood Park / Cabbagetown, it could easily sell in the first weekend with multiple offers.
ARE 30316 HOME BUYERS STILL PAYING TOP DOLLAR?
Without a doubt! In 2018, East Atlanta area homes sold at 98.8% of the asking price, on average. That means that buyers were able to negotiate an average of 1.2% off the asking price. To put this in perspective…
* On a $600,000 home, that’s about $7,000 off the listing price
* On a $300,000 home, buyers are negotiating about $3,600 off the listing price
If you are looking for a home in this popular Atlanta zip code, make sure you consult with your buyer’s agent who is very familiar with the Intown Atlanta real estate market. In many situations, you’ll probably need to offer at least the full asking price, as 51% of the 30316 homes sold at or OVER the listing price.
Have questions about the 30316 real estate market report? Want to learn more about the East Atlanta neighborhoods? The Urban Nest Real Estate Group is located in the heart of the East Atlanta Village and many of our agents live in EAV, so we’d love to help answer your questions! Call anytime at:
** Be sure to ask for an East Atlanta 30316 real estate market specialist!