Decatur 2017-2018 Market Snapshot: Townhomes and Condos

The real estate market in the City of Decatur is setting new records.

The City of Decatur is diverse, progressive and energetic. With it’s walkable city center and a sought-after city school system, more people than ever are drawn to living in Decatur.

The story of real estate in Decatur continue to be one of high buyer demand and low inventory. The townhome and condo market logged a whopping 40% increase in prices in 2017, rising to a median price of $351,000, compared to $251,000 in 2016. Just over 2 months of inventory and rising prices meant that well-priced homes in top condition often went under contract in just days after receiving multiple offers.
 

2017 MARKET STATS

154 Homes Sold: Down 3%

$351,000 Median Price: Up 40%

55 Days Time on Market: Up 67%

2.17 Months Inventory: No Change

2018 Outlook

With amazingly low interest rates, increased job growth and dynamic development projects, people will continue to move to the City of Decatur. The total inventory of available properties for sale in 2018 will remain constrained so watch for upward pricing pressure in the near future. We expect the market to stay red hot for many months to come.

If you will be buying or selling a property in 2018, please contact us to discuss your opportunities in today’s market.

 

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