2017 Ormewood Park Real Estate Market Report

Atlanta, Georgia 30316

We have some fantastic news to share in the 2017 Ormewood Park Real Estate Market update!  This popular East Atlanta neighborhood is still in high demand and while there is a limited number of homes for sale, the Ormewood Park home prices just keep rising and real estate listings are flying off the market in record time.  Check out the latest market update below and see if this is a good time to sell or buy a home in this charming Intown neighborhood. Enjoy!

Infographic of Ormewood Park real estate market report for 2017. Ormewood Park is located in Atlanta, GA

 

Ormewood Park Real Estate Market Overview

HOMES SOLD

92 homes sold in Ormewood Park in 2017.  This was down from the two previous years, where 115 homes sold in 2016 and 120 homes sold in 2015. This decrease is DEFINITELY not due to a demand for homes in this popular Intown Atlanta neighborhood.  It seems that just fewer home owners are interested in selling.

At the time of this report, there are only FIVE homes for sale in Ormewood Park.  Keep in mind that it is only January, but still, we have a significant shortage of available inventory (homes)... and that may help drive up the prices even further this year.

ORMEWOOD PARK HOME PRICES 

The average single family home sales price is $390,411.  That is up  $31,000 from 2016 -- a 8.6% increase in home prices year over year!  If we look back two years, the average home price is up a whopping $96,000 (a 33% increase).  So if you purchased your Ormewood Park home in 2015, give yourself a big pat on the back!

  • Single family home prices ranged from $156,000 to $684,000 in 2017
  • The median sales price in Ormewood was $375,500
  • In 2016 the average home sales price averaged $359K and in 2015, the average was only $294K

CLOSING COSTS

One popular question we receive from our Atlanta home sellers is "Will buyers ask us to pay all or part of their closing costs?" The answer is... sometimes.

Typically, buyer closing costs are 3% to 4% of the purchase price.  With an average sales price of $390K in Ormewood, that means the buyer will need $11,000 to $15,000 -- in addition to their downpayment,  Because the real estate market is SO competitive right now, buyers don't typically ask for the seller to pay for all or any) of the closing costs.  In 2017, sellers contributed $3,159 on average toward buyer closing costs.

HOW QUICKLY ARE HOMES SELLING?

Last quarter, Ormewood Park homes sold on average in 28 days.  That's 2 weeks FASTER than in 2016.  The median # of days to sell a home in this popular Atlanta neighborhood was only 9 days is most likely a more accurate representation of the current Ormewood Park real estate market.

An incredible 61% 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.  The last column is called "DOM" and that stands for "Days on the Market".  

ARE BUYERS STILL WILLING TO PAY TOP DOLLAR?

Without a doubt!  The list price to sales price percentage is 99%, so buyers are negotiating a little less than 1% off the sales price (on average).

49.5% of the homes sold at at 100% or more of the asking price..

. What is your home worth in Atlanta GA? .

Current Homes for Sale in Ormewood Park Atlanta


Sorry we are experiencing system issues. Please try again.

Ormewood Park Homes Sold in 2017

Single family home sales :: January 1, 2017 to December 31, 2017
  ADDRESS BEDS BATHS LIST SOLD DOM
950 Prospect Ave 5 4.5 $739,000 $684,000 147
1045 Berne St SE 4 4 $679,900 $679,900 15
1107 Moreland Pl SE 5 4 $649,900 $677,500 4
932 Emerson Ave 4 3.5 $650,000 $650,000 12
954 Prospect Ave 4 2.5 $639,900 $627,700 20
1149 Hall Ave 4 3 $619,000 $609,000 6
1065 Glenwood Ave 4 3.5 $625,000 $568,000 61
502 Glenwood Pl 5 3 $550,000 $565,000 1
458 Stovall St 4 3 $550,000 $550,000 1
851 Gilbert St 4 2.5 $515,000 $540,000 5
954 Mercer St SE 3 2.5 $539,900 $539,900 5
1025 Delaware Ave 4 3 $550,000 $535,000 9
952 Underwood Ave 3 2.5 $539,900 $520,000 102
901 Ormewood Ave 4 4 $529,999 $500,000 193
1080 Mercer St SE 3 2.5 $499,900 $499,900 4
1050 Ormewood Ave 3 2 $479,900 $485,000 42
1070 Eden Ave 3 2 $489,900 $475,500 23
787 Essie Ave 3 2 $449,900 $469,000 3
986 Walker Ave 3 2.5 $450,000 $465,000 5
695 Vernon Ave 3 2 $429,900 $458,500 6
1102 Woodland Ave 3 2 $449,900 $454,900 7
1135 Portland Ave 3 2 $458,500 $452,000 5
999 Alloway Pl 3 2 $450,000 $450,000 4
1060 Emerson Ave 3 2 $455,000 $447,000 32
1086 Napier St 3 2.5 $449,900 $445,000 55
861 Confederate Ave 4 3 $479,000 $442,000 14
967 Berne St SE 3 2 $429,000 $441,000 5
1021 Ormewood 3 2.5 $450,000 $440,000 21
1004 Eden Ave 3 2 $449,000 $440,000 34
1011 Delaware Ave 3 2 $425,000 $438,000 0
1012 Woodland 3 2 $439,900 $430,000 3
1156 Vickers St 4 3 $499,900 $430,000 160
1023 Ormewood Ave 3 2.5 $450,000 $420,000 31
420 Florida Ave 3 2 $449,000 $415,000 57
999 Woodland Ave 3 2 $425,000 $415,000 5
1140 Ormewood Ave 3 2 $429,900 $407,500 30
866 Vera St SE 4 2 $435,000 $405,000 46
1036 Sanders Ave 3 2 $400,000 $400,000 4
1216 Woodland Ave 4 2 $379,000 $389,900 6
899 Vera St 2 2 $375,000 $385,500 2
921 Moreland Ave 3 2.5 $399,900 $385,300 11
437 Florida Ave 3 2 $379,900 $385,000 1
423 Florida Ave 3 2 $380,000 $380,000 37
1383 Custer Way 3 2.5 $367,700 $377,005 6
1377 Custer Way 3 2.5 $367,700 $376,256 24
804 Woodland Ave 2 2 $359,900 $376,000 4
668 Siloam Ave 3 2 $349,900 $375,000 3
1386 Custer Way 3 2.5 $348,700 $371,373 238
1075 Berne St SE 3 1 $365,000 $365,000 0
887 Confederate Ave 3 2 $399,900 $365,000 97
893 Emerson Ave 2 2 $350,000 $362,000 3
1387 Custer Way 3 3 $361,055 $361,055 30
897 Emerson Ave 2 2 $374,900 $360,000 57
1151 Vickers St 3 2 $369,000 $360,000 3
1092 Napier St 3 2 $375,000 $358,000 56
989 Glenwood Ave 2 1 $335,000 $355,500 9
1006 Emerson Ave 3 2 $349,900 $355,050 5
877 Confederate 3 1.5 $350,000 $355,000 3
613 Glenwood Place 3 2 $369,900 $350,000 6
823 Delmar Ct 3 2 $329,000 $343,800 5
929 Underwood 2 2 $315,000 $339,500 4
977 Walker Ave 4 3 $380,000 $334,000 59
966 Underwood Ave 3 2 $425,000 $332,000 108
982 Confederate 3 2 $325,000 $329,000 3
1109 Knott St 3 2 $320,000 $325,000 12
1278 Danner St 2 2 $325,000 $320,000 11
478 Gift Ave 2 2 $314,900 $315,000 3
468 Glenwood Pl 3 2 $300,000 $310,000 2
1045 Moreland Ave 3 2 $315,000 $310,000 104
891 Eden Ave 2 1 $289,900 $308,000 12
850 Confederate 4 2 $315,000 $305,000 36
678 Vernon Ave 2 1 $345,000 $298,000 22
1133 Woodland Ave 2 2 $429,000 $295,000 15
917 Confederate 3 1.5 $289,900 $289,900 6
1081 Moreland 3 2 $309,900 $286,000 42
1265 Woodland 2 1 $269,000 $285,000 4
1088 Shelby Pl 3 2 $289,000 $283,000 48
1504 Woodland 2 1 $275,000 $278,000 6
1139 Eden Ave 2 1 $250,000 $277,000 8
1118 Faith Ave 3 1 $275,000 $275,000 12
1068 Faith Ave 3 1 $284,900 $275,000 6
1122 Woodland Ave 2 1 $265,000 $270,000 8
1049 Emerson Ave 2 1 $272,000 $263,500 2
462 Stovall St 2 1 $250,000 $262,000 2
1260 Danner St 2 1 $269,000 $255,000 13
963 Prospect Ave 2 1 $250,000 $248,000 52
925 Gilbert St 2 1 $275,000 $247,000 23
608 Warwick St 2 1.5 $239,850 $240,000 6
1282 Danner St SE 2 1 $230,000 $223,900 51
1052 Sanders Ave 2 1 $249,900 $217,500 31
1427 Pontiac Pl 3 1 $239,900 $202,500 68
1330 Woodland Ave 3 2 $110,000 $156,000 6
The Ormewood Park real estate market and home sales data was extracted from the Atlanta Georgia FMLS on January 14, 2017 and interpreted by Kerry Lucasse with the Nest Atlanta Real Estate Group at eXp Realty. All information is deemed reliable but is not warranted, as it is subject to change.  If you would like the complete report of Ormewood home sales (including photos of each home sold), please text or call Kerry at 404-432-1844.  

. Ormewood park home values and real estate trends in 2017 and 2018

Have questions about Ormewood Park real estate market and current trends? Call the Nest Atlanta team anytime. We're right in the neighborhood and always here to help!

Text / call :: 404-205-8800

Or visit us at:  inOrmewoodPark.com

See previous Ormewood Park Real Estate Market Reports:

2017 Ormewood Park Real Estate Market - Fall Report (3Q)

2017 Spring Report (2Q)

2016 Full Year Report

.

.