Morningside Real Estate Market Update

Get the 1Q 2016 Morningside Real Estate Market Report!Atlanta, GA :: 1Q 2016 (January-March)

Atlanta's Morningside neighborhood is off to a great start in 2016.  The average sales price is up and many homes are still selling at or over asking price.  Get all the details below with the 2016 Morningside Real Estate Market Report:

MORNINGSIDE HOMES SOLD

Thirty (30) single family homes sold in 1Q.  It's down from the same time last year (30 vs 38 homes sold) due to the shortage of inventory under $750K.   We don't know how long the seller's market will continue in Morningside, but if you are contemplating selling in the near future, please check our Nest Atlanta market updates every quarter so you can find the best time to sell at top dollar.

HOME VALUES

Morningside homes are selling at $830,469 on average. That's almost $100,000 higher than the first quarter of 2015!  If we look back to the first quarter of 2008 (before the market crashed), the average sale price was only $649K, so Morningside values are  way up!
  • 30% of the homes were over a million dollars (9 homes)
  • Morningside home sales ranged in price from $418,000 to $1,423,250

HOW QUICKLY ARE MORNINGSIDE HOMES SELLING?

Last quarter, single family homes sold on average in 57 days.  The median number of days on the market was only 47  days and that's probably a more accurate reflection of the current market. Even though 47 days (or 6 weeks) may seem a little long, 30% of the homes in less than two weeks and almost half sold within 30 days.  If you are thinking of selling your Morningside home in the near future, make sure that your Realtor does his/her homework to ensure that your home is priced at a price point the current real estate market can support.  Not only will your home sell faster, you may receive multiple offers which will push up the offer prices on your home!

ARE BUYERS STILL WILLING TO PAY TOP DOLLAR?

As we mentioned above, if your home is priced well, potential home buyers have no problem paying at or over asking price.  The list price to sales price percentage is 97.1%, so buyers are negotiating about 3% off the sales price (on average).   27% of the Morningside homes sold at 100% or more of the asking price.  

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Have questions about the Morningside real estate market and current home values?  Call Kerry Lucasse and the Nest Atlanta Real Estate Group anytime.  

Text / call :: 404-432-1844

Or visit us at:  inMORNINGSIDE.com  

All Morningside home sales data was extracted from the Atlanta FMLS on April 10, 2016 and interpreted by Kerry Lucasse with the Nest Atlanta team at eXp Realty. All information is deemed reliable but is not guaranteed.  If you would like the complete report of Morningside home sales (including home photos), please text or call Kerry at 404-432-1844.  I'd be happy to send to you!.