Decatur’s housing market is on fire.
Just was combing through sales data, and uncovered some pretty interesting stats. Crunched 2nd quarter sales data- here’s the summary:
- Days On Market is down 34.8%, a dramatic decline in just one year. Serious buyers know that they can’t drag their feet.
- Sales Price/List Price Ration has crept up to 99%. We’re in a Seller’s Market… when listings are selling faster, they’re going to sell for more.
- Speaking of “selling for more”: the average list price is up 7%, average sales price is up 8.4%. In one year. This is a big deal.
- Distressed sales (ie. foreclosures and short sales) are way down. Only three sales all quarter, representing a mere 3% of all sales. If you’re a buyer looking for a foreclosure in Decatur… good luck!
I named Decatur the “Atlanta Sub-Market of the Year” in 2011 in large part based on its year-of-year increase of 4%, to an average sales price of $362,624. Hard to believe, just two years later, the average sales price is$451,674. It’s not inconceivable that within the next twelve months that the average sales price in Decatur is pushing $500,000.
Great schools, walkability and proximity to public transit seems to be working out pretty well for Decatur.
To browse all homes currently for sale in Decatur, check out my Decatur Real Estate Page. If you live in Decatur and are curious to find out what your home is currently worth or would like to discuss selling your home, contact me directly.
* Source: FMLS, Single Family Detached April-June 2012/2013