You’re probably aware that it’s currently a seller’s market here in Atlanta with well under 6 months worth of supply available. Not surprisingly, that’s also true here in the City of Decatur.
Check out the table below for some 1st Quarter 2015 insights specific to the Decatur real estate market compared to the same time period last year.
While the average sales price is up approximately 1% vs. 1st quarter last year, what really stands out is that Days on Market (DOM) has decreased from 55 to 38 days! Also, while the sale of homes under $500,000 declined slightly year over year, the majority of sales remain under the $500,000 price point.
Digging a little deeper, when you break out sales by single-family homes vs. condos and townhomes, some interesting trends emerge.
Interestingly, over ⅓ of sales in Q1 2015 were condos and townhomes vs. ¼ during the same period in 2014. This was accompanied by a 36% increase in the average sales price vs. Q1 last year, while single-family home prices increased just over 1%.
Additionally, two bedroom floor plans remained the most popular choice for condo and townhome buyers, while the most popular number of bedrooms for single-family homes decreased from 4 to 3 bedrooms.
We’ll take another look at what the numbers say at the end of June – 2 months into peak selling season. Let me know if there are any other metrics you’re interested in seeing.
Click over to the website to see all homes currently for sale in Decatur.