Chastain Park breaks record for home sales in 2015 by eclipsing 2005’s record of 98.
Chastain Park sellers achieved an Average Sale Price of $1,239,399 based on the sales from 2015 that have closed thus far. Sometimes a few huge sales can skew the average sale price but that was not really the case here. The median home sold at $1,193,500 so the middle of the pack was around $1.2M. Days on Market, however, was a different story. The average Days on Market was 91 days which was skewed by several sales that took over a year. The median Days on Market was 47 days which is a much better indication of the true market.
The Highs and Lows on Price
The highest sale posted in Chastain Park was $3,600,000 for a king-sized flip project on King Road (pardon the pun). The lowest sale was for an older, partially complete contemporary house on Dykes Drive at $420,000. The days of buying a property in Chastain Park under $500k are getting fewer and farther between! There were only three in 2015 out of 104 total sales.
The tables below show the four market slices we track and how they fared each month. First for supply and then for sales.
The Highs and Lows by Month
January really set the pace in 2015 with four times as many homes sold as in 2014! April, June and July also more than doubled their 2014 counterparts.
The Highs and Lows of Supply
Sellers did their part! They managed to put more homes on the market without flooding it. As the green bars below show, the overall supply of homes ranged between 50 and 60 throughout 2015 which exceeded the numbers from the previous three years.
Summary
As a resident and local expert, we study and preview the homes for sale in Chastain Park every day. You can feel even the slightest change in momentum when you watch anything that closely. We have a custom search running constantly that alerts us to any listings or sales in Chastain Park. That information can be crucial for both selecting the most strategic List Price OR the best starting Offer Price – depending on which side you are on. If you are considering a move in Chastain Park, you owe it to yourself to meet with us first.
Call or email Michael Bunch directly on his cell at 404-307-4915 or at michael@BunchRealEstateGroup.com
