What a difference a few months and peak selling season make in the trends! Here’s a look at 2nd Quarter 2015 data for several of Decatur’s direct neighbors. Our analysis of Q1 2015 can be found here.
The spring market delivered improvements over Q1 in all categories – the total number of homes sold doubled or tripled, days on market decreased, average sales price increased, and sales price to list price increased for the most part across all neighboring areas. Avondale Estates saw the most dramatic change over Q1 with triple the number of homes sold, days on market cut in half, a 4% gain in SP/LP, and a 41% rise in average sales price versus Q1.
The number of homes sold increased for all neighborhoods during the spring selling season. Of the adjoining neighborhoods, Druid Hills leads the pack with just over half the number sold in Decatur. Kirkwood comes in right behind Druid Hills, swapping places from Q1. Avondale, East Lake, and Medlock Park were nearly equal, hovering around 30 sales in Q2.
East Lake, Kirkwood and Medlock Park homes boasted the shortest time on the market at 31 days and just edging out Decatur at 36 days. Avondale Estates homes were on the market a bit longer, selling in approximately 1½ months. Homes in Druid Hills took the longest to sell averaging just less than 2 months, which is not unexpected since homes at the higher price points typically take longer to sell.
Sales Price to List Price remained strong in all neighboring areas. Kirkwood came in with the highest SP/LP at 99.5% and took over the top spot from East Lake in Q1. Medlock Park tied Decatur for the #2 spot at 98.8%.
Druid Hills held onto the highest average sales price, but only saw a 7% increase over Q1. Decatur posted the 2nd highest average sales price and increased approximately 15% over Q1. Avondale ranked 3rd in average sales price and had the biggest jump increasing 41% over Q1. Kirkwood and East Lake were 4th and 5th with 12% and 14% increases over Q1 respectively. Medlock Park rounded out the group hovering just above $250,000 and was the only neighborhood to show a drop over Q1 of approximately 3%.
The 3rd Quarter numbers are likely to be interesting, since they combine the final two months of peak selling season with back to school.
Click over to our website to search for homes currently for sale.
Photo courtesy of Avondale Estates website