Brookhaven GA Real Estate Trends Report
3Q 2016 :: Brought to you by Nest Atlanta :: 404-205-8800
We had another strong home sales season in Brookhaven, Georgia 30319. In the report below you will see that some things are leveling off and in other areas, we are seeing record-breaking numbers! Get the full scoop with our 2016 Brookhaven Home Sales Trends Report below…
BROOKHAVEN HOME SALES
A total of 155 single family homes sold in Brookhaven (30319) in the third quarter of 2016. It’s right on par with home sales over the last two years.
The absorption rate is very strong (2.5 months), due to the limited housing inventory in the lower price ranges (under $700K).
HOME PRICES IN BROOKHAVEN GA
The average single family home price in 1Q was $721,011. That about $118,000 higher than the same time last year BUT — yes, there is a but! — this average price may be a bit inflated. Here’s why…
In the last 10+ years, only one Brookhaven home sold over $3.0 million and this quarter there were TWO homes that sold in this price range, so naturally that skewed our average a bit.
The median sales price in zip code 30319 was $590,000 and is a more accurate reflection of home values in Brookhaven / 30319.
** If you are curious about the record breaking prices in this zip code, click here to see the most expensive homes sold in 3Q 2016. The current record holder is 3820 Club Drive. It sold for $3,825,000 in 2007.
HOW QUICKLY ARE HOMES SELLING?
Last quarter, single family homes sold on in 57 days on average. Because the time to sell a home in Brookhaven varies greatly by the home’s price and there was a wider range than normal this quarter (i.e. low $200s to $3.4 million), we recommend using the median number (33 days) to get a better idea of how quickly homes are selling.
32% of the 30319 homes sold in less than 2 weeks. IMPRESSSIVE!
ARE BUYERS STILL WILLING TO PAY FULL PRICE?
Absolutely! The list price to sales price percentage is 94.9%, so buyers are negotiating about 5.1% off the sales price (on average). 18.7% of the Brookhaven home sales were at 100% or more of the asking price!.
Learn more about the fabulous Brookhaven community and tour all the current real estate listings for sale…
Have questions about the Brookhaven real estate report and/or current home values? Call the Nest Atlanta Real Estate Group anytime.
Text / call :: 404-432-1844
BROOKHAVEN MARKET HIGHLIGHTS
- 2 of the 3 most expensive homes sold this quarter — over $3.0 million!
- 32% of the 30319 real estate listings sold in less than 2 weeks
- Housing inventory is still very low – especially single family homes under $700K
- About 20% of the homes sold over asking price (down a bit from previous years)