Decatur Home Prices and Sales Surge in Q2

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From Michelle Cavaliere of 4 Walls Realty – Keller Williams Intown Atlanta

Have several houses sold in your neighborhood this summer? Have you watched them sell in what seems like an instant? The second quarter numbers for City of Decatur are in and there are some eye-catching statistics to support those observations.

The table below compares Q2 vs. Q1 this year, as well as vs. second quarter 2014.

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There are two obvious standouts here. The first is the increase in average sales price, which is up 15% over first quarter 2015 and a huge 24% over Q2 2014.  Additionally, the number of sales greater than $500,000 is approximately triple the number sold last quarter and almost 2.5 times the number sold in the second quarter of 2014. Days on market dropped again, falling to an average of 36 days.

Some of you expressed interest in the home sales distribution by school zone last quarter, so here’s the 2015 breakdown so far.

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The Oakhurst Elementary district saw the largest jump in Q2, increasing to 2.5 times its Q1 number. The remaining gains over Q1 were fairly evenly distributed over the other elementary schools and consistent with the increase in total properties sold in Q2.

Finally, looking closer at residential detached vs. attached we again see some definitive trends.

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Residential Attached

Although the proportion of condo and townhome sales held steady at approximately 1/3 of the total sales for Q2, the total number of residential attached sales almost doubled over Q1 2015. This was accompanied by a 20% increase in the average sales price vs. Q1, and a 38% increase over the average sales price compared to the same time period last year. A jump was also seen in the most popular number of bedrooms for condo and townhome properties from 2 to 3 bedrooms.

Residential Detached

The total number of single-family homes sold was 32% higher than the same time period last year. This was accompanied by a 12% increase in the average sales price vs. Q1, and an 18% increase over the average sales price over Q2 2014. The most popular number of bedrooms increased to 4 bedrooms from 3 bedrooms in Q1.

Obviously the Decatur real estate market is very active so far this year with two months still remaining of peak selling season.

If you are interested in finding out the market value of your home, click here. To see all homes currently for sale in Decatur, visit my website.