City Of Decatur Real Estate vs. Neighboring Areas
4 Walls Realty | May 28, 2015 | 9:22 am
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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.
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.
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Photo courtesy of Historic Kirkwood website
Others have the values even higher for Decatur…
Kerry Lucasse, Team Leader of the Nest Atlanta Real Estate Group at eXp Realty, reported that, based on MLS research, the average Decatur single-family home sales price last quarter increased $70,000 from the same time last year, from $459,000 to $534,000. When comparing the second quarter of 2014 to the second quarter of 2008 (before the market crashed), the average sales price has risen by $168,000 from $366,000 to $534,000.
The numbers here are all units sold for all neighborhoods, not just detached residential as you cited above.
when comparing numbers it’s helpful to compare apples to apples. For example $/sq ft for single family homes. Also think about presenting median sales price rather than average, as I’m sure the outliers are skewing the distribution. How about Candler Park/ Lake Claire?
Thanks for the feedback. We can try to incorporate median sales price and $/sq. ft. in the next go round. Part of Lake Claire (East Lake/Ridgecrest area) is incorporated into the Druid Hills data. Druid Hills Civic Association counts this area as Division 2 (Ponce corridor in DeKalb). If you’re interested in a specific Lake Claire breakout feel free to send me an email.
Does this mean that 73 households bailed out of Decatur during 1st quarter?
I think it means 73 baled in.
It means 146 more kids entering the schools.
Bubble bubble toil and trouble. Get in and get out before interest rates double!
Curious – are looking at sales within the neighborhood “zip code” or the “city limits”?
Good question. All neighborhoods are defined by the boundaries found on their respective neighborhood websites, which generally correspond to the boundaries in the MLS listings as well. Hope that helps!
The people who are leaving are job transfers and people whose kids have graduated. I know I hope my house closing and my daughter’s high school graduation are on the same day 😉 But I still have several years before that happens. Lets hope with all thus influx the schools will stay good. I was here long before I had a kid, but if I can make tons of money and move a just over the line I totally will.