City Of Decatur Real Estate vs. Neighboring Areas

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Brought to you by 4wallsrealty

We’ve recently taken a close look at overall real estate trends in both Decatur and Druid Hills, how do the overall metrics in these areas compare to their neighbors?

Here’s a look at 1st Quarter 2015 data for Decatur and several of its direct neighbors.

DM_Neighborhoods_Table

One interesting metric here is the number of homes sold. Obviously this number is influenced by the size of the area, but regardless, more homes were sold in Decatur than any other neighboring area.  Kirkwood leads the pack of adjoining neighborhoods with just over half the number sold in Decatur. Druid Hills comes in right behind Kirkwood. Avondale, East Lake, and Medlock Park only had a handful of sales in comparison.

Days on market were basically equal for Decatur, East Lake and Kirkwood and averaged just over a month. Druid Hills homes were on the market a bit longer, at approximately 1 ½ months.   Homes in Avondale took the longest to sell averaging 3 months.

Sales Price to List Price was strong in all neighboring areas. East Lake came in with the highest SP/LP, surpassing Decatur at 99.8%! Decatur and Kirkwood were tied for second at 98.4% SP/LP.

Not surprisingly, the highest average sales price was in Druid Hills, closely followed by Decatur. Kirkwood and East Lake came in 3rd and 4th, respectively and were very close in Average Sales Price. Medlock and Avondale rounded out the group hovering just above and just below $250,000, respectively.

While these numbers give us an interesting look at neighboring markets, keep in mind the small number of homes sold in some areas can lead skewed numbers if there is an outlier in the category (i.e. days on market, sales price).  We’ll take another look at the data after the 2nd Quarter numbers are in.

Click over to our website to search for homes currently for sale.

Photo courtesy of Historic Kirkwood website

At Home: Rufus Rose House, May Home Checklist, and DBF Director’s Condo

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Courtesy of 4wallsrealty.  For regular updates on Atlanta real estate, home and garden tips, and more like our Facebook page!

Rufus Rose House photo courtesy of Wikipedia

At Home: ATL Real Estate Trends, Take Back Your Garage, and Druid Hills Home Tour

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Courtesy of 4wallsrealty.  For regular updates on Atlanta real estate, home and garden tips, and more like our Facebook page!

Druid Hills Georgian Revival photo courtesy of Druid Hills Tour of Homes & Gardens.

At Home: PCM & Beltline Update, Atlanta’s Architecture, and Low Impact Landscapes

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For regular updates on Atlanta real estate, home and garden tips, and more Like the4wallsrealtyFacebook page.

Photo courtesy of Serenbe Soul & Style

First Look at 2015 Decatur Real Estate Trends

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.

DM Table 1

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.

DM Table 2

Interestingly, over 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 4wallsrealtywebsite to see all homes currently for sale in Decatur.

 

4 Walls Realty: Introducing DM’s New Real Estate Resource

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It probably won’t surprise you to learn that the family behind Decatur Metro has slight obsession with all things real estate.  How else does one maintain a local news website for 7+ years – which is at LEAST 50% real estate and development news – and stay half sane?

We suspect you enjoy it too.  OK, actually we know you do based on your click-thru rates!

But while I get excited by the big picture stuff, my wife Michelle is all about the details. Contracts, permitting, mechanical systems, interior design, etc.  All that stuff I can’t keep straight.

Well, at long last she’s combined her passion and knowledge with her natural skill set and is now a REALTOR® (the National Association of Realtors requires all caps and a register mark) with Keller Williams, focusing on Decatur and the intown Atlanta neighborhoods, which we know so well and spend so much time discussing.

So the obvious thing to do is give her real estate company, 4 Walls Realty, some well-deserved love here on DM (if you visit this site semi-regularly, you may already owe her thanks for keeping me alive and providing us with occasional post topics).  She will be our exclusive real estate partner and advertiser going forward.  She’s also going to start contributing more real estate content to the site, adding to that already popular topic.

We’ll refine the partnership as time goes by, but that’s the plan for now.  We’re both very excited to evolve our brands alongside each other over the coming months.

In the meantime, if you’re thinking about buying or selling your home or just looking for some local Atlanta/Decatur real estate information, give her a call and check out 4WallsRealty.com and her Facebook page.