Ormewood ParkReal Estate Market Update
Atlanta, Georgia 30316 :: 3Q 2016 (July-September)It's time again for the Ormewood Park real estate market report! This popular Intown Atlanta neighborhood had some of the biggest price increases last quarter and it's safe to say that it's one of the highest this quarter as well. Home sales are up from the same time last year and we are also seeing some higher priced homes selling. See the full Ormewood Park Real Estate Market Update below (it's just a 5 minute read!)....
Overview of the Ormewood Park Real Estate Market
33 Ormewood Park homes sold in 3Q. That's up 33% from last quarter!
At the time of this post, there are only 8 Ormewood Park homes for sale, so there is a definitely a significant housing shortage.
HOME PRICES IN ORMEWOOD PARK
The average single family home sales price is $356,820. That is up $38,000 from the same time last year, a whopping 12% increase.
* Single family home prices ranged from $123,900 to $567,500 last quarter
* There were quite a few recently renovated homes that sold, but no new construction properties.
HOW QUICKLY ARE HOMES SELLING?
Last quarter, Ormewood Park homes sold on average in 24 days. That's about 50% faster than the same time last year. The median # of days to sell a home in this popular Atlanta neighborhood was only 11 days. That's a more accurate represenation of the current market.
60% of the Ormewood Park homes sold in 2 weeks or LESS!
*** See all the Ormewood Park homes that sold below, including 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 97.4%, so buyers are negotiating about 2.6% off the sales price (on average). The median percentage was 99%.
42% of the homes sold at at 100% or more of the asking price.. . .
Ormewood Park Home Sales in 3Q 20167/01/2016 - 9/30/2016 :: See all the current homes for sale in Ormewood Park