Nest Atlanta presents…
Edgewood Real Estate Market Report for 2Q 2016
Atlanta’s Edgewood community took a big leap in home values this year, thanks to some new construction, new developments along Moreland Avenue and the more affordable Intown home prices. We are thrilled to share some jaw-dropping sales stats with you in this edition of the Edgewood real estate market report….
Sumary of the Edgewood Real Estate Market
In 2Q (April-June), a total of 19 homes sold in Edgewood. This is down by about 30% from the same time last year, but the GOOD NEWS is that most of the investment or fixer upper homes have new owners and are in the process of renovation! In 2Q 2016, almost 30% of the Edgewood home sales were under $199K. We didn’t see ANY home sales this year at that price point.
The average single family home sales price was $378,765 last quarter. That is a whopping $100,000 INCREASE (36%) from the same time last year.
As mentioned above, all the low dollar homes seem to have been scooped up, so the least expensive Edgewood home sold in Spring 2016 was $207,500 (vs $85,000 last year). Edgewood home sales prices ranged from $207,500 to $537,000 with the median price at $379,000.
HOW QUICKLY ARE EDGEWOOD HOMES SELLING?
Because inventory levels were down this year, homes sold much faster than usual and averaged just 24 days on the market. Last year at this time, it took almost twice as long to sell a home in Edgewood… 46 days to be exact!
An astounding 63% of the Edgewood homes sold in less than 2 weeks.
ARE SELLERS STILL GETTING CLOSE TO THE ASKING PRICE?
Absolutely! If homes are priced at fair market value when they are first listed, buyers flock to the homes and are willing to pay at or over the asking price. On average, Edgewood homes sold at 98.5% of the asking price, but more than half (53%) sold in less than 2 weeks.
Wondering what your home is worth in today’s market? Get an instant valuation!
Edgewood Real Estate Sales YTD
January – June, 2016 :: See all the latest homes for sale in Edgewood
|ADDRESS||BEDS||BATHS||LIST PRICE||SALE PRICE||DOM|
** DOM stands for “Days on Market” or the time it took to sell the house.
Edgewood Atlanta real estate sales data (single family homes only) extracted from the Atlanta MLS on August 20. Data was interpreted by Kerry Lucasse with the Nest Atlanta Real Estate Group at eXp Realty. If you would like a detailed report of Edgewood home sales (including photos), please contact Kerry at 404-432-1844 and we’d be happy to email a copy to you!
Helpful Edgewood Resources
This Edgewood Real Estate Report was brought to you by your Intown Neighborhood experts at the Nest Atlanta Real Estate Group. For more information about how we help home buyers and home sellers, please visit us at NestAtlanta.com or call anytime at 404-205-8800.