Oakhurst Home Sales Report
Decatur, GA 30030 :: 2Q 2016 (April-June)
It’s time again for the Oakhurst Home Sales Report! As the City of Decatur’s most highly-sought after neighborhood, the real estate market in Oakhurst has been very strong for years. This Spring were are seeing signs of the market slowing… just a tiny bit. Read more the Oakhurst Spring real estate market below.
19 Oakhurst homes sold in 2Q. It’s down substantially from last Spring when 30 homes sold. There is definitely limited housing inventory in the under $600K price point which may be contributing to the slow down in sales. Right now there are only 14 Oakhurst homes on the market and 64% are over $700K.
The absorption rate is still in the 2.7 month range which means that if no other homes were listed, all of the current homes would be sold within 2.7 monts. An absorption rate under 5 months is considered a seller’s market, so we are still in a very stable market in Oakhurst.
OAKHURST HOME PRICES
The average single family home in Oakhurst is $615,372. That is down $18,000 (3.0%) from the same time last year, but slightly above the overall 2015 average. This is the first time we’ve seen a dip like this in the Spring market in many years.
On a positive note, if we look back to before the market crashed, the average Oakhurst home sales price is still WAY UP… by $249,000 to be exact!
- Oakhurst home prices ranged from $252,000 to $855,000 last quarter
- 15% of the Oakhurst homes sold were new construction properties
HOW QUICKLY ARE HOMES SELLING?
Last quarter, Oakhurst homes sold on average in 28 days. The median # of days on the market was only FIVE days and that’s probably a more accurate reflection of the current market.
Resale homes are selling much faster than the new construction properties, which is normal due to the higher price point of the new homes and quite often, the builder listed the home before it was 100% finished. Overall, almost 78% of the Oakhurst homes sold in less than 2 weeks.
ARE BUYERS STILL WILLING TO PAY TOP DOLLAR?
Without a doubt! The list price to sales price percentage is 97.3%, so buyers are negotiating about 2.7% off the sales price (on average). 46% of the Oakhurst home sales were at 100% or more of the asking price.
Oakhurst Homes Sold in 2Q
4/1/2016 – 6/30/2016 :: Tour current Oakhurst homes for sale
|ADDRESS||BEDS||BATHS||SQ FT||LIST PRICE||SALES PRICE||DOM|
|305 E Lake Dr||5||4||3302||$859,900||$845,000||100|
|241 Madison Ave||4||3.5||2786||$775,000||$770,000||5|
|151 Olympic Pl||4||3.5||3376||$714,900||$750,000||7|
|246 Hill St||4||2||1971||$675,000||$675,000||13|
|215 5th Ave||3||2.5||2055||$565,000||$550,000||20|
|121 Hill St||3||2||1702||$525,000||$540,000||4|
|130 2nd Ave||3||2||1900||$514,900||$520,000||3|
|511 E. Lake Dr||3||2||1303||$439,000||$438,000||3|
|826 S. McDonough||3||2||1171||$389,900||$370,000||7|
|117 Mckoy St||3||3||1994||$469,000||$252,059||2|
The Oakhurst (Decatur, GA) real estate data was extracted from the Atlanta FMLS on July 16, 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 Oakhurst home sales (including photos of each home sold), please text or call Kerry at 404-432-1844.
Have questions about the Oakhurst real estate market and current home values? Call the Nest Atlanta team anytime. We’re here to help!
Text / call :: 404-432-1844
Or visit us at: inOakhurstGA.com
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