A few weeks ago we looked at real estate trends for 1st Quarter 2015 in City of Decatur. Now let’s take a look at the 1st Quarter real estate market for our Druid Hills neighbors compared to the same time period last year. We are specifically looking at the area defined as Druid Hills by the Druid Hills Civic Association.
Average sales price is down 2.5% vs. 1st quarter last year and Days on Market increased slightly compared to the same period in 2014. While the sales of homes under $500,000 declined by 25% year over year, they still hold a small edge over the above $500,000 price point. Incidentally, only 2 sales in Q1 2015 and 2 sales in Q1 2014 were over $1M.
Breaking out sales by single-family homes vs. condos and townhomes yields some noteworthy trends.
The standout here is the 12.5% increase in the price of single-family homes vs. Q1 last year. This was accompanied by an increase in the most popular number of bedrooms from 3 to 4. Single-family homes spent a few extra days on the market and contributed to the overall increase seen in Q1 2015 over Q1 2014.
In comparison, there was only a 1.75% price increase for condos and townhomes. However, ½ of sales in Q1 2015 were condos and townhomes vs. only ⅓ during the same period in 2014.
Click over to our website to see homes currently for sale in Druid Hills.
Photo courtesy of Wikipedia