Grant Park Market Update Second Quarter 2016

Grant Park Market Update Second Quarter 2016        We’ve hit the 3rd quarter of 2016 so lets take a look at the numbers in our Grant Park Market Update Second quarter 2016.   This area continues to be red hot.  First a few fun facts about Grant Park.  This neighborhood, and Inman Park, contain the best collection of Victorian homes in the city.  The centerpiece is the park itself, 131 acres of mostly green space and it contains Zoo Atlanta and for the moment, The Cyclorama.  It’s soon to be moved to The Atlanta History Center.   The area experienced decline in the middle of the twentieth century as people moved out further.  But by the 1970’s it began a resurgence that continues to this day.

On to the numbers!  First we look at the second quarter of 2015.  During this period a total of 55 homes were sold.  The average asking price was $354,115 and the average sale price was $358,223.  That’s not a mis-print.  Demand was so strong that homes this quarter actually sold on average above their asking price. These homes went over 100% of asking price and spent just 22 days on market on average.  The highest priced sale was $689,000.  I don’t have to tell you that this showed a very strong market.  But could this continue in the second quarter of 2016?  You bet it could.  During the second quarter of 2016 in Grant Park again 55 homes were sold.  This quarter the average sales price was $449,471 and asking price was $451,404.  Again homes sold for their asking price.  This quarter they got 99.26% of their asking price.    That’s an increase of about 20% year-over-year.  Yikes!  And during this period the average days on market was just 20 days. Wow!  Keep in mind the mix of homes for sale can change so this doesn’t mean every home increased in value 20% in one year.  These numbers are good indicators of the market but to know the true value of your home you need a Realtor that knows the area. If you’re thinking of buying in Grant Park or anywhere in Intown Atlanta you need a professional to represent you.  Feel free to give us a call or send us an email and we’ll get started right away helping you out.

All of our numbers come from First Multiple Listing Service.  If you’d like to see the raw numbers click below.

Grant Park Solds 2nd Quarter 2015

Grant Park Solds 2nd Quarter 2016

 

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