Decatur housing market “on fire” Realtor says
Jon Effron is a personal friend of mine who I met when I briefly entered the housing market two years ago. Even though my wife and I never could find a home that worked with our budget, Jon gave us great service. He’s been a useful source of information about the real estate in the metro area.
The other night we went out for a beer at The Marlay House and he mentioned that he was working on a blog post about home prices in Decatur.
Here are his findings, based on numbers for the 2nd quarter of this year. (UPDATED: Jon messaged me to let me know that his original totals were off, due to a clerical error. He said the numbers are actually higher than first reported. Here’s his revised figures.)
“Decatur’s housing market is on fire,” Jon writes on his blog.
Here’s his prediction for the next twelve months.
“I named Decatur the ‘Atlanta Sub-Market of the Year’ in 2011 in large part based on its year-of-year increase of 4%, to an average sales price of $362,624,” Jon writes. “Hard to believe, just two years later, the average sales price is $451,674. It’s not inconceivable that within the next twelve months that the average sales price in Decatur is pushing $500,000.”
That’s great for single family, but can the average worker making $30,000 to $50,000 afford to live in a housing market where the average sale is half a million dollars? That’s one of the topics I’ll be exploring in an upcoming post. In the meantime, you should read Jon’s post about the local real estate market. The man knows what he’s talking about. To see it, click here.