30316 Real Estate Market Report

1Q 2018 :: Covering 30316 / East Atlanta Neighborhoods

Thinking of selling or moving to the highly sought after 30316 zip code in Atlanta?  This zip is home to the East Atlanta Village, Ormewood Park, Reynoldstown and part of Cabbagetown.  More and more people are flocking to 30316, thanks to the prime Intown Atlanta location and a wide variety of homes that are a bit more affordable than some of the other n'hoods.  Below you'll find the latest update on the 30316 real estate market, including recent home sales, current trends and of course, the latest home values. We're on a mission to keep you well-informed and current on the latest market trends, so we hope you enjoy the 1Q 2018 edition of the East Atlanta 30316 Real Estate Market Report!

INFOGRAPHIC with Atlanta 30316 real estate market and home sales stats

 

Overview of the Atlanta 30316 Real Estate Market for 1Q 2018

EAST ATLANTA HOMES SOLD 

A total of 163 single family homes sold in Atlanta 30316 zip code between January and March.  This is up slightly significantly - by almost 15% -- from the same time last year.  Very few Atlanta zip codes are seeing an increase in homes sold this quarter, due to dwindling inventory.  The 30316 zip is in a unique position - there are more new construction homes being built, older homes being renovated and it is still the best Intown Atlanta area to find a reasonably affordable home for many buyers!  We expect this growth to continue, at least through the first half of 2018.

** See the homes that recently sold in the 30316 zip code at the bottom of this report!

HOME PRICES

We saw another nice increase in the average single-family home sales price this quarter, at $318,126.  That's almost a $20,000 INCREASE from the same time last year. Not too shabby, East Atlantans!

A few more interesting nuggets on East Atlanta area (zip code 30316) home values:

  • In 1Q 2018, home sales ranged in price from $77,500 to $6905,000, with the median sales price at $323,000
  • New construction prices and rising Ormewood Park home prices are key drivers in this quarter's increase of the average sales price
  • The two most expensive homes sold in 30316 ($690K and $685K) were both located in Ormewood Park. The third highest sale was in Reynoldstown at $614,900.
Aren't you just the tiniest bit curious what your 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 DOES IT TAKE TO SELL A HOME IN 30316?

Homes took 46 days to sell on average -- BUT  42% of the 30316 homes sold in less than 2 weeks.

The median number of days on market was only 22 (vs only 15 days last year) and we would consider that a more accurate reflection of what is happening in today's real estate market, as were a few factors at play.  First, several new construction and/or home renovations were listed in the MLS before the homes were finished. Also, several homes priced a little too high when they were first listed and they sat on the market - some for almost a year!

Long story short, if you are thinking of selling your home and it is priced at the fair market value, it will probably sell within 2 or 3 weeks.   If you own a charming, updated bungalow under $550,000 that's near the East Atlanta Village or is located in Ormewood Park / Cabbagetown, it could easily sell in the first weekend with multiple offers.

.

ARE BUYERS STILL PAYING TOP DOLLAR?

Yessir! Last quarter homes sold at 97.7% of the asking price, on average -- or buyers were able to negotiate an average of 2.3% off the asking price.  If you are looking for a home in this neighborhood, make sure you consult with your buyer's agent who is very familiar with the 30316 real estate market.  In many situations, you'll probably need to offer at least the full asking price, as 49% of the homes sold at or OVER the listing price.

.

What is your home worth in Atlanta and Decatur Georgia?Have questions about the 30316 real estate market report?  Want to learn more about the East Atlanta neighborhoods?  The Nest Atlanta Real Estate Group is located in the heart of the East Atlanta Village and many of our agents live in EAV, so we'd love to help answer your questions!  Call anytime at:

404-205-8800

** Be sure to ask for an East Atlanta 30316 real estate market specialist!

.

.

JUST LISTED HOMES IN 30316


Sorry we are experiencing system issues. Please try again.
.

Homes Sold in East Atlanta's 30316 Zip Code

Top 25 most expensive East Atlanta homes sold in 30316 between 1/1/2018 - 3/31/2018.
  ADDRESS NEIGHBORHOOD BEDS BATHS LIST SOLD
946 Prospect Ave Ormewood Park 5 3.5 $724,900 $690,000
1001 Gilbert St Ormewood Park 4 3.5 $719,000 $685,000
80 Weatherby St Reynoldstown 3 2.5 $614,900 $614,900
836 Delmar Ct Ormewood Park 4 3 $599,900 $599,999
1059 Berne St Ormewood Park 4 2.5 $599,000 $590,000
468 Patterson Ave East Atlanta 4 3 $599,000 $590,000
325 Lamon Ave East Atlanta 5 4 $569,900 $567,500
924 Ormewood Ave Ormewood Park 3 2.5 $550,000 $565,000
464 Patterson Ave East Atlanta 4 3 $565,000 $565,000
930 Stallings Ave East Atlanta 4 3 $539,900 $535,000
1465 Mcpherson Ave East Atlanta 4 3 $500,000 $530,000
163 Powell St Cabbagetown 3 2.5 $489,000 $515,000
975 Alloway Pl Ormewood Park 3 3 $512,900 $508,000
809 Essie Ave Ormewood Park 3 2 $499,900 $505,000
1523 Mcpherson Ave East Atlanta 4 3 $514,900 $505,000
1517 Sylvester Cir Sylvester Circle 4 3.5 $504,900 $504,900
628 Brownwood Ave East Atlanta 3 2 $479,900 $500,000
1130 Kirkwood Ave Reynoldstown 3 2 $479,000 $500,000
1872 Braeburn Cir East Atlanta 4 3 $489,900 $490,000
731 Mollie St Cabbagetown 2 2.5 $450,000 $488,618
600 Brownwood Ave East Atlanta 3 2.5 $485,000 $485,000
947 Mercer St Ormewood Park 13 2 $499,900 $480,000
1753 Russell St East Atlanta 4 3 $479,900 $479,900
1623 Jobeth Ave East Atlanta 4 3.5 $465,000 $476,000
2808 Silver Hill Terr Eastside Walk 4 3.5 $417,900 $472,102
PLEASE NOTE:  The East Atlanta home sales data used in the 30316 real estate market report was extracted from the Atlanta MLS on April 20, 2018 and interpreted by Kerry Lucasse with eXp Realty.  Information is deemed reliable, but is not guaranteed and subject to change. 

.

 

Nest Atlanta Real Estate Group at eXp Realty :: 404-205-8800

... your east atlanta real estate market gurus!