Oakhurst Real Estate Market Update
City of Decatur, Georgia 30030 :: 3Q 2016 (July-September)
It’s time again for the Real Estate Market Report for Oakhurst! As the City of Decatur’s most highly-sought after neighborhood, home sales in Oakhurst have been very strong for years. Last Spring there were a few (teeny tiny) signs of the market slowing and we are seeing a few more this quarter. Don’t worry, Oakhurst is holding it’s own, we just want to make sure our readers are well-informed, especially if you are trying to make any decisions about moving in the next few years! See the full Summer Market Update for Oakhurst below….
18 Oakhurst homes sold in 2Q. It’s down substantially (25%) from the same time last year when 24 homes sold. Without a doubt there is a shortage of Oakhurst real estate listings, especially under $600,000, but the demand is still very high so homes like this one on Madison Avenue typically sell in the first day or two with 5 to 10 offer.
Currently, there are only 14 Oakhurst homes on the market and all but TWO are under $600K.
A whopping 75% of the Oakhurst listings are over $800K, which prices many home buyers out of this fabulous neighborhood.
HOME PRICES IN OAKHURST
The average single family home in Oakhurst is $655,175. That is up $10,000 from the same time last year, but is only a 1.5% increase overall.
For the last few years we’ve watched the average sales price rise by 10%, 15% and even 30% in a years time and now it looks like that is leveling off a bit. For those of you who purchased a home before the real estate market crashed in late 2008, please pat yourselves on the back because the average single family home sales price has almost DOUBLED ($338K in 3Q 2008 vs $655K 3Q 2016 ).
- Single family home prices ranged from $323,900 to $1,099,000 last quarter
- 22% of the Oakhurst homes sold were new construction properties
HOW QUICKLY ARE HOMES SELLING?
Last quarter, Oakhurst homes sold on average in 53 days. That’s almost twice as long from the same time last year.
Because there is a growing percentage of new construction homes, this may have skewed the average days on market a bit. Of the 4 new homes that sold, three took between 5 and 7 months to sell. The median number of days to sell was 32 which in this case is a much more accurate reflection of the current time it takes to sell your Oakhurst home.
*** Scroll down to see all the homes sold and how long it took to sell each one (check the DOM or Days on Market) column.
ARE BUYERS STILL WILLING TO PAY TOP DOLLAR?
Definitely! The list price to sales price percentage is 96.8%, so buyers are negotiating about 3.2% off the sales price (on average).
39% of the Oakhurst home sales were at 100% or more of the asking price.
Oakhurst Home Sales in 3Q 2016
7/01/2016 – 9/30/2016 :: See all the latest Oakhurst real estate listings
|ADDRESS||BEDS||BATHS||BUILT||LIST PRICE||SALES PRICE||TDOM|
|1118 Adams St||5||5||2016||$1,099,000||$1,099,000||191|
|538 Ansley St||5||4||2016||$950,000||$930,000||167|
|229 2nd Ave||5||5||2016||$875,000||$870,000||164|
|714 3rd Ave||5||4||2016||$879,900||$865,000||30|
|165 Hood Circle||5||3.5||2011||$825,000||$830,000||3|
|239 Hill St||3||2.5||1920||$799,000||$808,000||12|
|1423 Oakview Rd||4||3||2013||$765,000||$759,000||33|
|211 2nd Ave||4||2.5||2004||$799,500||$750,000||97|
|135 Pharr Rd||5||4||2007||$735,000||$736,000||9|
|103 2nd Ave||4||3||1910||$725,000||$725,000||40|
|217 Mead Rd||5||4||1900||$586,000||$509,250||2|
|262 Maxwell St||3||2||1937||$485,000||$485,000||7|
|221 Garland Ave||3||2||1942||$499,000||$475,000||62|
|129 Brower St||3||2||1946||$489,000||$475,000||26|
|226 Madison Ave||3||2||1970||$419,900||$430,000||7|
|329 Leyden St||2||2||1946||$409,000||$373,000||64|
|107 Hood Cir||4||1.5||1989||$400,000||$350,000||33|
|1010 McDonough St||3||1||1941||$350,000||$323,900||7|
The Oakhurst GA real estate data was extracted from the Atlanta FMLS on October 10, 2016 and interpreted by Kerry Lucasse with the Nest Atlanta team at eXp Realty. All information is deemed reliable but is not warranted, as it is subject to change. 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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