30307 Real Estate Market Report - Atlanta Home Sales in Inman Park and Candler Park

By
Real Estate Agent with eXp Realty - Nest Atlanta Team
http://actvra.in/pCW

Little Five Points (30307) Real Estate Market Update for November 2011

Home values in Little Five Points AtlantaCandler Park + Inman Park | Lake Claire | Little Five Points | Atlanta, GA | 30307

Data extracted from the Atlanta FMLS 11/01/2011 to 11/31/2011

Single Family Home Sales in Inman Park & Candler Park Atlanta

Atlanta's Inman Park and Candler Park neighborhoods both border  the popular business district, Little Five Points.  Both communities have oodles of personality and charm -- and some of the finest historic homes in Georgia.

The home sales data from this past month, offer home sellers some solid insight into the current real estate market.  

*** Be sure to read the "Lessons Learned" below. *** 

Candler Park & Inman Park Atlanta Home Sales (Nov 2011 vs 2010)

Nov  2011 - 7 homes sold with an average sales price of $412,350

    • 5 of the 7 home sellers paid all or part of the buyer's closing costs
    • Homes sold, on average, at 96.4% of the listing price
    • 4 of the 7 sold in less than 20 days - and 50% of those homes sold at or higher than the listing price
    • The average # of days on the market was 65, but it ranged from 4 days to 233 days

Nov 2010 -  5 homes sold with an average sales price of $477,800 

    • Homes sold, on average, at 97.0% of the asking price
    • Over 100 days to sell a home on average

 

Under Contract & Available Homes for Sale in Candler Park & Inman Park 

10  homes are under contract / pending with an average asking price of $691,362

2   Short sale homes for sale 

30  homes are currently for sale (active) with an average asking price of  $563,320

[Current homes for sale range in price between $65,000 to $1,200,000]

 

Little Five Points Atlanta Homes Sold – November 2011 

Address

Bed

Bath

List Price

Sold Price

DOM

Seminole Ave

4

3

$550,000

$515,000

82

Sterling St 

$475,000

$464,000 

233 

Elmira Place  

$469,000

$475,000  

Brooks Ave 

$399,900

$374,950  

19 

Josephine St  

$385,000  

$385,000

13 

Josephine St

$375,000

$347,500 

82 

Colquitt Ave  

$339,900  

$325,000 

20 

 

This month's data aligns almost perfectly to the Metro Atlanta 2011 sales data and also offers some important information for those of you who are thinking of selling your home in the next 6 months:

Lesson Learned #1 -->  Be prepared to pay all or part of the Buyer's closing costs

5 of the 7 home sellers paid all or part of the closing costs, ranging from $2700 to $8500

Most of the buyers now need to have a 10% or 20% downpayment in order to qualify for a loan and often don't have the extra $5,000 to $15,000 to pay for closing costs and pre-paid / escrow fees

Lesson Learned #2 -->  Price your home correctly the first time

Metro Atlanta sales data tells us that those homes that are listed at or slightly below fair market value when they are listed, sell in 26 days at 97.5% of the listing price (on average).

In this month's report, 4 of the 7 Candler Park / Inman Park homes sold in LESS than 20 days - and 50% of those homes sold at or higher than the listing price.  

The other homes that had a high listing price and had to reduce one or more times during the listing period took 82 to 233 days to sell -- and they sold for significantly less than their original listing price.

If you are a home owner and are worried about pricing your home too low, I wouldn't let that concern you.  If you are priced $10K below the fair market value, buyers will recognize that and most likely, you will receive multiple offers and will often sell for more than the listing price.  

Many banks purposely price their foreclosure homes well below the fair market value in order to generate multiple offers, select the most qualified buyers and maybe even sell the property a little higher than the fair market value!

Lesson Learned #3 -->  Intown Atlantans LOVE older homes!

In this market, we usually only have one buyer for every 12 homes on the market.  In the Little Five Points area a 4 bedroom / 3 bath Victorian or Four Square will almost always sell before the new construction does.  In November, the average age of the homes sold was 96 years sold (1915).  If you have a renovated home that was built before 1930, there is a good chance that it won't take you long to find a buyer!



Savvy Home Seller Program, AtlantaThinking of selling your Inman Park or Candler Park home?


We would be honored to answer any of your questions about the current market, review our tech savvy marketing plans, and provide you with a free home valuation.

Call Kerry Lucasse & the Nest Atlanta Real Estate Group anytime at 404.432.1844.


... be sure to ask us about our 'fair & flexible' commission plan!


 

Homes for sale in Candler Park Atlanta

Historic Inman Park Homes for Sale

See all the homes & condos for sale in Little Five Points

Search for homes by Intown Atlanta Neighborhood


Posted by


Posted by:
  
Kerry Lucasse  ::  eXp Realty ::  Nest Atlanta Real Estate Group

Call anytime @ 404.432.1844

Atlanta home search   Nest Atlanta Realty Nest Atlanta on Youtube  Kerry Lucasse, Atlanta Real Estate Agent   Atlanta realtor testimonials   The Nest Atlanta Realty Group on Pinterest

 

Nest Atlanta Group with EXP Realty International 

  

Real Estate News & Local Events

In & Around Atlanta Real Estate Blog - Copyright 2006 - 2014 by Kerry Lucasse and the Nest Atlanta team with eXp Realty Atlanta.  All information contained in this blog is deemed to be reliable but not guaranteed.   If you need assistance with Intown Atlanta real estate, Kerry Lucasse and the Nest Atlanta Real Estate Group are always available to assist you with your residential real estate needs!

eXp Realty :: 508 Flat Shoals Ave ::  Atlanta, GA 30316  :: 770-361-7068

Find Kerry Lucasse and Nest Atlanta on Google+

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the car to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Topic:
Real Estate Market Trends
Location:
Georgia Dekalb County Atlanta Candler Park
Groups:
Market Reports
2011 December 31 Day Posting Challenge Group
Georgia Real Estate
Atlanta Real Estate Q&A
Tags:
homes for sale in little five points
sales stats
30307
inman park home values
atlanta real estate market
candler park home sales

Comments 1 New Comment

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the computer to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainmaker
181,564
Alan Grizzle
Full Time Realtor, Lifelong Resident of Dahlonega
Chestatee Real Estate

Lots of Good information. Those sale prices are almost unheard of in my area, Dahlonega. We see very few over $300,00 and plenty under $100,000.

December 12, 2011 09:22 PM
Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the world to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainmaker
374,595

Kerry Lucasse

Your Nest Atlanta Real Estate Consultant
How can I help?
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the airplane to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Additional Information