30316 Real Estate Market Report
1Q 2018 :: Covering 30316 / East Atlanta NeighborhoodsThinking 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!
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!
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.
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.
.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
Homes Sold in East Atlanta's 30316 Zip CodeTop 25 most expensive East Atlanta homes sold in 30316 between 1/1/2018 - 3/31/2018.
|946||Prospect Ave||Ormewood Park||5||3.5||$724,900||$690,000|
|1001||Gilbert St||Ormewood Park||4||3.5||$719,000||$685,000|
|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|
|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|
|1872||Braeburn Cir||East Atlanta||4||3||$489,900||$490,000|
|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|
Nest Atlanta Real Estate Group at eXp Realty :: 404-205-8800
... your east atlanta real estate market gurus!