Kirkwood Home Sales & Real Estate Trends
Summer / Early Fall 2016 (July-September) :: Presented by Nest AtlantaThis charming Intown Atlanta neighborhood just keeps rolling out jaw-dropping numbers every time we do the Kirkwood real estate market update. Almost 60% of the homes are selling in the first week AND for top dollar. It really is incredible, especially for those that purchased a home in the last 15 years and invested in making this community what it is today! Get the full scoop in the 3Q 2017 Kirkwood Home Sales & Real Estate Trends Report. Enjoy... .
Overview of the Kirkwood Real Estate Report
KIRKWOOD HOME SALESOver the last five years, an average of 46 single family homes sold in the 3rd quarter. In 3Q 2017, a total of 44 homes sold, so we are right on track. On average, about 14 homes sell each month in Kirkwood. Currently there are only 30 homes for sale, so inventory levels are VERY LOW. The absorption rate is about 2 months and a typical "balanced market" has about 6 months of inventory for sale at any given time. ** 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 KIRKWOODThe average sales price this quarter was $414,638. That's $48,000 HIGHER (13.0%) from the same time last year. Not too shabby, Kirkwoodians!
- The median Kirkwood home sales price was $392,500
- Homes ranged in price from $204,000 to $718,400
- 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 100.1% of the asking price, on average -- yes, you read that correctly, the average home in Kirkwood is selling for the FULL ASKING PRICE! Last quarter, 57% sold at or over the asking price and there were several homes that sold for 5 to 10 percent over the listing price. TIP ** If you are thinking of buying a home in Kirkwood, please be prepared to offer full price (or more). Ask your real estate agent to run recent comparable sales so you can submit an attractive offer to the home seller.
HOW FAST ARE HOMES SELLING?The time it takes to sell a home in Kirkwood is only 19 days on average, but 52% of the listings sold in less than ONE week. The median number of days on the market was only NINE and this is a better reflection of the current Kirkwood real estate market. Many of the new construction homes are listed before they are complete and end up taking longer to sell, which pushed the average out to 19 days. The typical Kirkwood home should sell in about 4 to 8 days if it is priced correctly and shows well.
The market under $350,000 is disappearing.For those that are buying their first or second home, finding a Kirkwood home for sale under $350K is a serious challenge. Only 26% of the Kirkwood home sales were under $350,000 -- compared to 3-4 years ago when this price was the norm.
Price your home correctly or it will sit on the market.Kirkwood home buyers do not hesitate to offer $5,000 or even $40,000 over the asking price in order the get the home. If your home isn't "showroom ready" and you don't have the time and/or money to make it that way, make sure you are priced well below the beauty down the street with all the latest bells and whistles. Also, when homes are selling so quickly (and yours isn't), buyers who see your home may think that there is something wrong with it if it's been on the market for a month. In the past, a home that was listed for a month was commonplace and now it can be a red flag for many savvy buyers.
Buyers need to be prepared to offer full price... and submit their offer quickly.With 52% of the homes selling in less than one week and bidding wars every where you look, it is important that you submit a STRONG OFFER to the seller. Ask your real estate agent to find out what is most important to the homeowner and if you are willing and able to accommodate, include it in your offer. A few examples include allowing the homeowner to stay in the home for several days after closing, agreeing to purchase the home "as is" and decreasing (or removing) the time frame for home inspections and financing contingencies. It's not always about offering the highest price. .
Have questions about this market report? Call us anytime at 404-205-8800.
See the latest homes for sale in Kirkwood Atlanta
3Q Kirkwood Home Sales7/1/2017 to 9/30/2017
|168||Murray Hill Ave||3||2||2004||$469,000||$484,500||13|
|2159||Hosea L Williams||3||2||1910||$439,000||$452,000||5|
|1667||Fairway Hill Dr||3||2||1947||$360,000||$360,000||8|
|145||Murray Hill Ave||3||1||1979||$350,000||$350,000||6|