Kirkwood Real Estate Market Report for 2017Every year that we report on Atlanta's Kirkwood real estate market, we are even more amazed at the growth. Once again, we had a record-breaking year in home prices and homes are selling faster than ever. Below you'll find an infographic highlighting the home trends, a detailed overview of the current market, recent home sales and a video overview of the market with our forecast for 2018. Hope you enjoy and don't hesitate to call 404-432-1844 if you have any questions!
Kirkwood Real Estate Market Trends & Home Values
HOME SALESOver the last five years, an average of 177 homes sold each year in Kirkwood. In 2017 we were at 197 single family home sales, which is just down slightly from last year (210 sales in 2016).
INTERESTING TIDBIT :: The last time the real estate market was "hot" (2006-2007) only about 140 homes were selling each year. Today home buyers (and their agents!) complain that there is a serious shortage of homes for sale but the DEMAND for Kirkwood homes is SO HIGH that it feels like a shortage.In 2017 we also witnessed a big spike in new construction home sales, thanks in part to the new development near the intersection of Robson Court and Norwood Drive. 14% of the homes sold were newly built and definitely helped drive the rise in the average home sales price.
HOME PRICES IN KIRKWOODWe saw another BIG increase in the average single family home sales price and finished the year at $430,413. That's $48,000 HIGHER than 2016. More interesting home value stats:
- From 2015 to 2017, the average single family home price rose almost $100,000 -- that is a 30% increase in just TWO years!
.... So if you purchased a $400,000 home two years ago, there is a good chance that it is currently worth about $520,000.
- One of the most expensive homes sold this year in Kirkwood -- $875,000 for a home on Howard Avenue.
- If you are shopping for a newly built home in Kirkwood, be prepared to spend between $600,000 and $900,000 in 2018.
- The average home seller paid $3,389 towards the buyer's closing costs (median was $2,500)
- View the most expensive homes sold in Kirkwood at the bottom of this report
Average Home Sales Price in Kirkwoood
2012 .......... $179,002
2013 .......... $254,589
2014 .......... $297,751
2015 .......... $334,998
2016 .......... $382,129
2017 .......... $430,413
Wondering what YOUR Kirkwood home is worth? Request a home valuation and we'll email you a full report with an estimate on your home's current value.
HOW LONG DID IT TAKE TO SELL A HOME IN 2017?Kirkwood homes sold in 29 days on average, but 60% of the homes sold in 2 weeks or less. The median number of days on market was only 10 and we would consider that a more accurate reflection of what is happening in today's real estate market, as there were several new construction and/or home renovations that were listed in the MLS before they were finished, so they were on the market for 200 to 300 days and that skewed the average.
If you are thinking of selling your home and it is priced at fair market value, it will most likely sell within 10 days.
ARE BUYERS STILL PAYING TOP DOLLAR?Most definitely! Kirkwood homes sold at 99.8% of the asking price, on average. An astounding 51% of the homes sold at or OVER the asking price. Multiple offers are commonplace in Kirkwood, so if you are planning on buying a home in this fabulous n'hood, be prepared to make a strong offer and don't be afraid to offer over the asking price if the value is there (check with your agent first, of course!). If you plan to sell your Kirkwood home, we highly recommend that you don't "pad" the listing price in order to have room for negotiations - especially if your home is over $500K.
If you have questions, please call us anytime at 404-432-1844.
Recent Success Stories in Kirkwood & 2018 Forecast
See the Latest Kirkwood Homes for Sale[optima_express_gallery_slider id="483061" rows="2" nav="bottom" style="grid" columns="3" effect="slide" auto="true" interval="55" sortBy="pd" maxResults="38"]
Most Expensive Kirkwood Homes Sold1/1/2017-12/31/2017 :: See all the latest Kirkwood homes for sale
|175||Murray Hill Ave||5||3||$669,500||$669,500||25|