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2013 Chastain Park Year End Home Sales Report

February 4, 2014

Originally posted on www.CarsonMatthews.com/Blog

2013 was a fantastic year for residential real estate sales in Chastain Park.  Some of the highlights of 2013 were the highest average sales price since 2010, the lowest average number of days on market since 2007, and the largest number of total home sales since… well FMLS only tracks sales back to 2007, and 88 home sales is the most since then, so there’s that.

The most sales in Chastain Park occurred in the $1,000,000 plus market clearly with 37 sales, a 27% increase over 2012, averaging 81 days on the market.  The second most active price range was $500,000 – $749,999 with 26 homes, an 8% increase over 2012, followed by $750,000 – $999,999 with 17 sales, or a 54% over 2012!

The price range that sold the quickest was $300,000 – $399,999 with an average of 51 days on market, but that only consisted of two homes.  The $750,000 – $999,999 market was a close second with an average of 56 days on market, followed by the $1,000,000 plus market (81 days as previously stated), $500,000 – $749,999 at 95 days on market, and $400,000 – $499,999 at 128 days.

Here is a chart showing how each price range in Chastain Park performed:

2013 Chastain Park YTD by Price

Chastain Park homes as a whole spent an average of 93 total days on market, outperforming Buckhead at 102 total days on market.  Click here to see the 2013 Buckhead End of Year Home Sales Report

A couple of other highlights for Chastain Park in 2013 include the first time since 2010 that the average sales price was over $1,000,000, and the first time since at least 2007 that the sales price/list price ratio was over 95%.  The chart below shows how Chastain Park as a whole performed compared to 2012.  As you can see the average sales price increased 15% over 2012 and the average days on market was reduced by 37%!  These numbers are very impressive.

2013 Chastain Park YTD Comparison

2014 appears to be on the same track as 2013, with a very tight market below $1,000,000.00.

Traits of the Under $1,000,000.00 Market

* Inventory is very low (7 of 27 actively listed homes are under $1,000,000.00)
* Homes are going under contract very fast after hitting the active market
* 6 of the 8 homes currently under contract are listed below $1,000,000.00

If you look at total sales thus far in 2014 in Chastain Park, the average home is only active on the market for 35 days!  If you take out the new construction house I sold on East Conway in January (because it skews the numbers), the average is only 19 days!  I think you will find the same is true of the homes currently under contract.  In my experience if your home is priced right and well presented, it should fly off the market.  That’s what I am seeing today.  To see an updated list of active homes for sale in Chastain Park, click here.

If you have any questions I hope you will leave them below in the comments, or click the “email carson” link in the header of this page.  I’d be happy to discuss any of these numbers, or what your home may be worth today.

Thanks,

Carson Matthews
Associate Broker
Atlanta Fine Homes Sotheby’s International Realty
678-595-9286
www.CarsonMatthews.com
www.ChastainParkBlog.com

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