Decatur Real Estate Affected by Low Inventory in Q1

From Michelle Cavaliere – Keller Williams Realty Intown Atlanta

Total home sales in the City of Decatur dropped significantly in the 1st quarter of 2017 compared to Q1 2016. Overall, the market was driven by increased sales of condominiums and townhouses, while single-family home sales saw a notable decline versus last year.

Q1 2017 vs. Q1 2016

 

Highlights:

  • A 25% decrease in the number of homes sold vs. Q1 2016.
  • An 8.6% decrease in the average sales price and a 10.4% decrease in median sales price vs. Q1 2016.
  • A 30% decrease in the number of sales greater than $500,000 compared to first quarter of 2016.

Sellers continue to receive almost full list price for their homes with the sales price to list price ratio holding steady at approximately 99%.

Days on market saw a significant decrease over Q1 2016 to just over 6 weeks.

Elementary School Districts

The quarterly home sales distribution by elementary school zone for Q1 2017 vs. Q1 2016 is shown below.

 

 

 

 

 

The Winnona Park school zone saw a large decrease in homes sold in Q1 2017 vs. Q1 2016. Sales in the other elementary zones remained fairly level with their corresponding Q1 2016 numbers.

Residential Detached vs. Attached

Residential Detached

Single-family home sales decreased 42% vs. the same time period last year. Average sales price increased approximately 3% vs. Q1 2016, while the median single-family home price increased 9% compared to the same time period last year.

Both three bedroom and four bedroom homes were equally popular in Q1, though we’ve been flipping between these two bedroom counts for quite a while now.

Residential Attached

Condominium and townhouse sales were almost equal in number single-family sales this quarter accounting for 46% of the total homes sold. This is a huge jump from the 1/3 of total sales trend we’ve seen since we began tracking these stats (Q1 2015).

Average sales price decreased slightly by 2% vs. Q1 2016, however median sales price for condominiums and townhomes increased 29% over the same time period.

Two-bedroom floorplans were the most popular layout sold for condos and townhouse properties.

Summary and Looking Forward

The Decatur real estate market felt the effects of low inventory, with several overall categories showing decreases compared to Q1 2016. However, when broken out into single-family homes vs. condos and townhouses, the market showed very healthy gains in median sales price and decreases in days on market. Q1 was clearly a seller’s market and that will likely not change as we head into Q2 and peak selling season.

If you are interested in chatting with me about the market value of your home, click here. To see all homes currently for sale in Decatur download my home search app.

At Home: December Home Checklist, October Market Snapshot & Salary Necessary to Purchase Modest Home

porches_vs_decks_realtormag

Brought to you by Michelle Cavaliere – Keller Williams Realty Intown Atlanta.  Find us on Facebook!

Image courtesy of Realtor Mag.

Decatur School Enrollment Is Up 8% vs. Last Year

k-12-csd-enrollment

Superintendent David Dude has a new post up on his blog with the latest CSD enrollment levels for this school year.

As the bar chart above shows, CSD enrollment saw an 8% increase, which continues to steady growth that’s been seen since at least 2009.  According to a table on the Superintendent’s blog, CSD’s enrollment has grown between 7%-12% each year since 2009, so that 8% is at the lower end of the growth spectrum, but still not showing signs of slowing.

UPDATE: As Macarolina points out in a comment – maybe the most interesting aspect of the data posted by the Superintendent is the fact that the heightened enrollment of the last 4 incoming classes has been very consistent.  As you can see in the bar chart below, K-4 grades all are hovering around 450 kids.

As Macarolina asks, ” if this trend of total grade size [ar]ound 447 students holds as it has for the past 5 years, is our school growth as wildly out of control as many seem to be saying? Are the Renfro[e] and DHS current expansions enough to handle the 447 grade size?”

Let’s see what we can find out, shall we?

k-12-csd-enrollment-by-year

As someone who has been posting CSD enrollment levels for years, I’m compelled to voice my appreciation to the Superintendent for helping get the enrollment trends out to the public.  I recall a few years back when I’d have to screen clip bar charts out of presentations found deep in the School Board’s agenda or even create my own bar charts for readers after digging up numbers from a variety of places.  We’ve come a long way!

Bar charts courtesy of Superindentent’s blog

Chart: Decatur Annual Crime Trend 1996-2015

decatur-crime-15

After our 2016 Crime stats post a couple of days back, Matt was good enough to update the Decatur crime bar chart that he created for us back in 2013.

Thanks Matt!

2016 Decatur Crime Stats: Property Crime Down; Robberies Up

screen-shot-2016-10-28-at-8-40-58-am

The latest Decatur crime stats through September, provided by the Decatur Police Department, show that crime overall is down vs. last year, though there has been an increase in certain crimes against people so far this year.

So far in 2016, total crimes committed in the city have been lower each month vs. the same month in 2015.  This is due mainly to declines in larceny, burglaries, and motor vehicle thefts.  Other crimes are basically inline with last year’s level, with the large exception of the murder of Gerald Wilson at the Allen Wilson Apartments in July (there were no homicides in Decatur in 2015) and an increase in robberies.  There have already been more robberies in 2016 than in all of 2015.

Though news and word-of-mouth reports of crime in Decatur are probably more prevalent in the present day than ever, a more macro look shows that Decatur’s overall crime rate remains around some its lowest levels in the past 20 years.  However, crime levels have seemed to have crept up a bit from the low of 691 total crimes in 2011.  (You can check out an Annual Crime Stats bar chart 1996-2013 HERE.)

Decatur Home Prices Continue to Rise

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

Very low inventory of homes for sale, and high demand, translated into impressive 1st Quarter gains for City of Decatur home sales.

Q1 2016 vs. Q1 2015

Decatur_2016Q1_summary

Decatur_Q1 2016_infographic

Highlights:

  • 16% increase in the average and median sales price vs. Q1 2015.
  • 54% increase in the number of sales greater than $500,000 compared to first quarter of 2015.
  • 24% increase in the number of homes sold vs. Q1 2015.

Sellers received almost full list price for their homes with the sales price to list price ratio at 99% in Q1, a small increase from Q1 2015.

Days on market saw a significant increase over Q1 2015, but this is still a low number by historical and national standards.

Elementary School Districts

The quarterly home sales distribution by elementary school zone for Q1 2016 vs. Q1 2015 is shown below.

Decatur_2016Q1_Schools

The Winnona Park school zone saw the largest increase in homes sold in Q1 2016 vs. Q1 2015.

Residential Detached vs. Attached

Residential Detached

Single-family home sales dominated the market, increasing 33% vs. the same time period last year. Average sales price jumped 12% vs. Q1 2015, while the median single-family home price increased 3% compared to the same time period last year.

Three bedroom homes were the dominant home sold, with 4 and 5 bedroom homes tied for second.

Residential Attached

Condominium and townhouse sales were almost equal in number to Q1 2015 and accounted for just less than 1/3 of the total home sales in Q1 2016. Their share of the total home sales has held at approximately 1/3 of the total sales since Q1 2015.

Average sales price increased 14% vs. Q1 2015, however median sales price for condominiums and townhomes decreased 13.3 % over the same time period.

Two-bedroom homes continue to be the most popular for condos and townhouse properties.

Decatur_2016Q1_Det_vs_Att

Summary and Looking Forward

The Decatur real estate market had a strong first quarter in 2016, outperforming the same time period last year in nearly every metric. Lack of inventory likely drove the price gains. Next quarter brings us into peak selling season where we’re likely to see the continued effects of the lack of inventory for sale.

If you are interested in chatting with me about the market value of your home, click here. To see all homes currently for sale in Decatur download my home search app.

 

Decatur Home Sales Finish 2015 Strong

Decatur Sales Q4 2015

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

Fourth quarter sales in the City of Decatur remained very strong, showing less of the often-observed end of year slowdown frequently associated with not wanting to buy/sell during the holidays.

Here’s a look the Q4 2015 data vs. previous quarters and Q4 2014.

2015Q4_Decatur_overall

Again we have two standouts here – the 12% increase in average sales price vs. Q4 2014, and the 38% increase in the number of homes sold vs. Q4 2014.

Sales price to list price jumped back above 98% in Q4 and was just shy of the Q4 2014 SP/LP.

Additionally, there was a 15% increase in the number of sales greater than $500,000 over the number sold last quarter and over the fourth quarter of 2014.

Days on market improved slightly from Q3 to an average of 36 days in Q4, and overall in 2015 properties were on the market a short 37 days.

Elementary School Districts

The quarterly home sales distribution by elementary school zone for 2015 is shown below.

Continue reading “Decatur Home Sales Finish 2015 Strong”