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.

See the full Oakhurst real estate market report in Decatur GA 30030.

 

HOMES SOLD

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.

>>> GET AN ESTIMATE OF YOUR HOME’S CURRENT VALUE

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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
116 Garland 5 4.5 3500 $875,000 $855,000 279
305 E Lake Dr 5 4 3302 $859,900 $845,000 100
104Pharr Rd 5 3 2988 $825,000 $825,000 4
241 Madison Ave 4 3.5 2786 $775,000 $770,000 5
1421 Oakview 5 4.5 3021 $765,000 $760,000 8
151 Olympic Pl 4 3.5 3376 $714,900 $750,000 7
1227Oakview 4 3 2605 $789,000 $735,000 47
110 Lenore 4 3.5 2963 $715,000 $725,000 2
246 Hill St 4 2 1971 $675,000 $675,000 13
215 Cambridge 4 3 2500 $649,900 $625,000 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
1526 Oakview 3 2 1596 $478,000 $520,000 5
118 Benson 3 2 2180 $485,000 $488,000 3
308 Greenwood 3 1.5 1236 $449,000 $449,000 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.  

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See how fast homes are selling in the Oakhurst Real Estate Trends ReportHave 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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MORE OAKHURST REAL ESTATE REPORTS:

1Q 2016 Oakhurst GA Real Estate Market Update

2015 Full Year Market Stats for Oakhurst Decatur

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