Virginia Highland Homes Sales & Market Trends Report
3Q 2016 (July-Sept) :: Brought to you by Nest Atlanta Real Estate Group
The Virginia Highland real estate market seemed to be slowing down over the last few quarters, but it popped right back up again with a large percentage of million dollar home sales and lower inventory caused almost half of the listings to sell in less than two weeks. Read the full Virginia Highland Home Sales and Market Trends Report….
3Q 2016 VAHI Market Trends Report
Virginia Highland Home Sales
26 homes sold in the 3rd quarter of this year, which is DOWN 30% from the same time last year.
Inventory levels are still quite low, with less than 3 months of Virginia Highland listings for sale and only one new home was listed in the last week. We think there are two issues at play…
- Buyers are getting priced out of the neighborhood. 23% of the homes sold last quarter were over a million dollars and if you look at the current Virginia Highland homes for sale, over 40% of the listings are over a million dollars.
- Many home owners have expressed concern about the uncertainty of the upcoming election and having a challenging time finding their new home before the put their current one on the market. The demand for real estate in this popular Intown neighborhood is still very strong — especially for homes under $800K, so hopefully more home owners will feel comfortable in the near future and put their homes on the market!
The average sales price for a single family home skyrocketed to $785,875 — UP $101K from the same time last year. This is the biggest spike we’ve seen in a few years and it could be due to the high percentage of homes that sold over the million dollar mark (23%) and very few listings were available in the lower price points.
This stunning new construction home at 749 Ponce De Leon Terrace NE featured 4 bedrooms, 4.5 baths, chef’s kitchen and an open floor plans. Muffley&Assoc was the listing broker and Jenny Schwartz at eXp Realty was the buyer broker. This gem sold for a whopping $1,299,900 – the highest in 3Q 2016!
** See all the Virginia Highland home sales and stats at the bottom of this article,
How quickly are homes selling?
Virginia Highland homes are selling in 38 days on average, which is a bit faster than the same time last year. The median number of days on the market was only 25 and that’s probably a more accurate reflection of the current 30306 real estate market.
Also, 43% of the homes sold in less than 2 weeks!
Have questions about this report? Call anytime at 404-432-1844
or visit our Virginia Highland Real Estate Guide.
Recent Virginia Highland Home Sales
7/1/2016-9/30/2016 :: See all the latest real estate for sale in Virginia Highland
|ADDRESS||BEDS||BEDS||LIST PRICE||SOLD PRICE||DOM|
|749||Ponce De Leon Terr||4||4.5||$1,299,900||$1,299,900||55|
|1185||Lanier Blvd NE||5||5.5||$1,299,000||$1,273,000||26|
|566||Cresthill Ave NE||4||3.5||$1,150,000||$1,060,000||112|
|560||Cresthill Ave NE||4||3||$1,099,000||$1,043,200||8|
|1151||Lanier Blvd NE||6||4||$1,150,000||$1,015,000||48|
|1102||Saint Charles Pl||5||4.5||$939,000||$959,000||1|
|890||Drewry St NE||3||2.5||$749,900||$715,000||112|
|1066||Virginia Ave NE||3||2||$699,900||$707,500||5|
|1159||Saint Louis Pl||3||2||$725,000||$651,000||180|
|739||Ponce De Leon Pl||2||2.5||$450,000||$442,750||26|
Virginia Highland home sales data was extracted from the Atlanta FMLS on 10/31/2016 and interpreted by Kerry Lucasse with eXp Realty. If you’d like a copy of the full home sales report (including photos and property details), please reach out to Kerry at 404-432-1844 and we’d be happy to send you the report.
Other Virginia Highland Resources