In our quest to keep our loyal readers up to date on Atlanta’s Real Estate Market we bring you Grant Park for the first half of 2015. Like much of Atlanta, Grant Park has been hot and seen increasing prices and tight inventory. For the uninitiated, here’s a refresher course.
Grant Park is one of Atlanta’s oldest neighborhoods, known especially for it’s Victorian Homes and the 131 acre park it surrounds. Grant Park has been designated a historic district. The name comes form Lemuel P Grant, who donated the land for the park and built several homes nearby. Besides the park itself, Zoo Atlanta is located here and Atlanta’s famous Oakland Cemetery is located on the north side of the neighborhood. In the last few years Grant Park has become more of a family neighborhood with strollers and kids always present at the park. Inside the neighborhood is Atlanta Neighborhood Charter School and the improving Parkside Elementary.
On to the numbers. We’re looking at the first half of 2015 and comparing to the same time in 2014. Due to seasonal changes in the real estate market year-over-year numbers are the best comparison. We’ve had quite a bit of activity in Grant Park this year. During the first half of 2015 110 homes in Grant Park were sold. The average price was $332,000. Sellers got 97.5% of asking price and got their homes under contract in an average of 53 days. By comparison in the first half of 2014 there were 8o homes sold for an average price $339,000 and sold in 60 days. At first it looks like home prices here went down but that’s not the case. It’s just that the mix of homes was different and some higher dollar homes changed hands in 2014. When we look at apples-to apples comparisons we see that per square foot prices increased just under 5% from 2014 to 2015 and we’re expecting a similar increase this coming year.
If you’re thinking of buying or selling in Grant Park or anywhere in Atlanta you need an expert and we can help. Give us a call or shoot us an email. We’d love to help!
And if you’d like mre detauils here are links to our 2014 and 2015 reports. All numbers have come from First MLS.