Kirkwood Home Sales & Real Estate Trends
Q3 2016 (July-September) :: Presented by Nest Atlanta Real Estate Group
Kirkwood is officially one of the hottest real estate markets in the Intown Atlanta area right now and once you see the Kirkwood home sales stats, we’re sure you’ll agree… and probably pat yourself on the back if you currently own a home in this charming neighborhood. Take a peek below at the 3Q 2016 Kirkwood Home Sales & Real Estate Trends Report….
3Q 2016 Kirkwood Home Sales Overview
KIRKWOOD HOME SALES
Over the last five years, an average of 43 single family homes sold in the 3rd quarter. This year, 60 Kirkwood homes sold!
On average, about 20 homes per month sell in Kirkwood. Currently there are only 28 homes for sale, so inventory levels are VERY LOW. The absorption rate is less than 1.5 months and a typical “balanced market” has about 6 months of inventory for sale at any given time.
What does this mean to YOU? Well, if you are a Kirkwood home owner that is thinking of selling your home in the next 3 to 9 months, you will be in one of the strongest seller’s markets we’ve seen in decades. If you are thinking of buying a home in Kirkwood, be prepared for bidding wars and offering over the asking price. Make sure you have a local real estate agent by your side who knows the Kirkwood real estate market well so they can advise you on the best offer strategy.
** Be sure to scroll down to the bottom of this post to sell all the homes that sold in Kirkwood this quarter.
HOME PRICES IN KIRKWOOD
The average sales price this quarter was $366,540. That’s $18,000 HIGHER (5.0%) from the same time last year and $100,000 more than the average sales price during the peak of the market in 2007. Pretty impressive!
- The median Kirkwood home sales price was $367,000
- Homes ranged in price from $140,000 all the way up to $680,000
- 10% of the homes were new construction and sold in the mid $500s to high $600s
ARE BUYERS STILL PAYING CLOSE TO ASKING PRICE?
Definitely! Kirkwood homes sold at 98.8% of the asking price, on average. The median was 99.8%, meaning that buyers only negotiated about 0.2% off the asking price. Last quarter, 50% sold at or over the asking price.
HOW FAST ARE HOMES SELLING?
The time it takes to sell a home in Kirkwood is only 38 days on average, but 48% of the properties sold in less than 2 weeks.
The median number of days a home is on the market was only 15 and this is most likely a better reflection of the current market in Kirkwood, as many of the new construction homes are listed before they are complete and end up taking longer to sell. The typical home should sell in about 15 days if it is priced at fair market value.
Have questions about this market report? Call us anytime at 404-432-1844.
Recent Kirkwood Home Sales
Listings sold in Kirkwood Atlanta 7/1/16-9/30/16 :: See all the latest Kirkwood real estate listings
|ADDRESS||BEDS||BATHS||LIST PRICE||SOLD PRICE||DOM*|
|238||Murray Hill Ave||5||4||$699,900||$680,000||14|
|263||Murray Hill Ave||4||3||$545,000||$534,000||15|
|358||Murray Hill Ave||3||2.5||$449,900||$449,900||5|
|2271||Hosea L Williams||4||3||$445,000||$415,000||37|
|2165||Hosea L Williams||4||3||$419,900||$399,900||37|
|2310||Hosea L Williams||4||2||$364,900||$364,900||2|
|2277||Ridgedale Rd NE||3||2||$379,000||$347,000||18|
|2140||Hosea L Williams||3||2||$349,900||$315,000||71|
|151||Murray Hill Ave||2||1||$269,900||$272,000||3|
|196||Murray Hill Ave||3||2||$279,900||$270,000||20|
* DOM stands for “Days on Market” or the time it took to sell the home.
Have questions about the Kirkwood real estate market and current home values? Call the Nest Atlanta team at eXp Realty anytime. Our Kirkwood real estate specialists are always here to help!
Or visit us at: inKirkwood.com
Kirkwood real estate sales data was extracted from Atlanta FMLS on October 15, 2016 and interpreted by Kerry Lucasse with eXp Realty. Information is deemed reliable but is not warranted and subject to change.