30316 Real Estate Market Report 

1Q 2017 (Jan-March) :: Including East Atlanta and Ormewood Park neighborhoods

The 30316 real estate market is H-O-T.  Inventory is low and demand for housing is off the charts.  Ormewood Park, East Atlanta and a small portion of Cabbagetown are situated in zip code 30316 and all are highly sought-after – especially with home buyers that are in the $250K to $550K price range.  In the latest edition of the 30316 Real Estate Market Report, you’ll find everything from current home values to the time it takes to sell a home. Enjoy!

Get the full scoop on the 30316 real estate market, one of Atlanta's hottest zip codes

Search zip code 30316 homes for sale

 

3Q 2016 30316 Real Estate Trends Report

30316 Home Sales

137 homes sold in the 1st quarter of this year, which is UP 10% from the same time last year.

Inventory levels are still quite low, with less than 2 months of inventory in Ormewood Park and East Atlanta.

Home Prices

The average sales price for a single family home skyrocketed to $299,639  — UP $52,000 from the same time last year.  This is one of the biggest spikes we’ve seen recently and a large contributor is most likely the limited number of homes for sale in the 30316 neighborhoods.

* The median sales price was $305,000

* 30316 home sales ranged from $81,500 to $679,900

How quickly are homes selling?

Homes in this popular Atlanta zip code are selling in  homes are selling in 45 days on average, which is almost 50% faster than the same time last year.  The median number of days on the market was only 15 days and that’s a more accurate reflection of the current 30316 real estate market.  There were a few new construction homes and home renovations that were listed before the work was completed, so that skewed the average a bit.  If you price your home at or slightly below fair market value when you list it, there is a high probability that you will sell quickly — and usually with a bidding war!

*** 53% of the 30316 homes sold in less than 2 weeks!

Are buyers still paying top dollar?

Absolutely!  Ormewood Park, East Atlanta and Cabbagetown homes sold at 97.2% of the asking price (on average).  So that means that buyers were able to negotiate 2.8% off the listing price.

Almost 50% of the homes sold for the full asking price or higher.  Some buyers even paid as much as 16.0% OVER the asking price! So on a $350K listing, that would mean they offered $56,000 OVER asking price (whew!).

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Have questions about this report?  Call anytime at 404-432-1844

or visit our 30316 Real Estate Guide.

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What is your home worth in Atlanta and Decatur Georgia?

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More 30316 Resources

Ormewood Park Market Report for 3Q 2016

East Atlanta Homes for Sale

East Atlanta named Curbed Atlanta’s Neighborhood of the Year

Atlanta Beltline Neighborhoods – search for homes by n’hood

Farmer’s Markets in 30316