2019 East Atlanta Home Sales
Real Estate Market Report | January – December 2019
East Atlanta home prices remained strong in 2019, unlike some other popular Intown neighborhoods. Below you’ll find the latest update on the East Atlanta 30316 real estate market, including recent home sales, time on the market, current trends and of course, the latest East Atlanta home values. The Grow Atlanta Real Estate Group on a mission to keep you well-informed and current on the latest market trends, so we hope you enjoy the 2019 edition of the East Atlanta Home Sales Report…
Overview of the East Atlanta Market
A total of 225 single-family homes sold in Atlanta’s 30316 zip code. This is down by 11% from 2018. Inventory levels is still a bit low for East Atlanta homes under $400K, but demand for houses near the popular East Atlanta Village is extremely high.
HOME PRICES + VALUES
We saw another modest increase in the average single-family home sales price this year at $363,929. That’s a $5,000 increase (1.2%) from 2018. The median East Atlanta home sales price was $370,000 — up $20,000 (or 5.7%) from last year and is probably a more accurate reflection of the current real estate market.
The East Atlanta area (i.e. zip code 30316) is also very strong with a $360K median home sales price. We’ve come a LONG WAY in the last decade! The median home value is almost 3x more than it was in 2010.
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.
ARE SELLERS PAYING BUYER CLOSING COSTS?
Buyer closing costs are typically about 2.5% to 4% of the purchase price (in addition to their downpayment) and many buyers need a bit of help from the home seller. In 2019, the average seller paid $4,400 towards buyer closing costs, which is up significantly from 2018 when the average was $3,100.
HOW FAST ARE EAST ATLANTA HOMES SELLING?
Single-family homes took 48 days to sell on average — BUT 25% of the East Atlanta homes sold in less than ONE week.
The median number of days on market was only 27 (vs 16 days last year) and we would consider that a more accurate reflection of what is happening in today’s real estate market, as were a few factors at play. If you are thinking of selling your home this Spring, please know that homes are taking about 40% longer to sell in East Atlanta. If your home is priced well, shows well and is under $500K, there is a very good chance that it will sell in the first 2 weeks.
ARE HOME BUYERS STILL PAYING TOP DOLLAR?
The best answer is…. usually! In 2019, East Atlanta area homes sold at 97% of the asking price, on average. That means that buyers were able to negotiate an average of 3% off the asking price – that’s about 3.1% more than in 2018. To put this in perspective…
* On a $600,000 home, buyers are negotiating about $18,000 off the listing price
* On a $300,000 home, buyers are negotiating about $9,000 off the listing price
If you are looking for a home in this popular Intown Atlanta neighborhood, make sure you consult with your buyer’s agent who is very familiar with the East Atlanta real estate market. With 33% of the homes selling at or over the asking price, you may have to go in with a very strong offer, especially on newly listed homes for sale.
THE FINE PRINT: The 30316 real estate market data used in this market report was extracted from the Atlanta MLS on February 2, 2020, and interpreted by real estate agent Kerry Lucasse with eXp Realty. Information is deemed reliable but is not guaranteed and subject to change. If you would like a copy of all the recently sold homes in Atlanta’s 30316 zip code (including photos and details), we’d be happy to email you the report. Please text Kerry at 404-432.1844.
Original article posted on ATLhomesearch.com