Condo prices in Inman Park have doubled since 2011

by Rincey Abraham

atlanta-skyline-winter

 

Homes near the Beltline Eastside Trail have been increasing in value over the past few years as new retail and developments are built. According to a post on A is for Atlanta, condominiums in Inman Park – an area of Atlanta previously neglected – have doubled in price since 2011.

The website compared the prices for a one-bedroom condominium at two of the largest developments in the area in 2011 and in 2016. Prices more than doubled from $112,923 to $245,795 with the average days on market decreasing significantly from 95 days to 13 days, an 86 percent drop.

A healthier economy and better job market have led to fewer short sales and foreclosures across the country. In 2011, six out of the 11 sales in Inman Park were short sales or foreclosures. In 2016, none of the sales were short sales or foreclosures.

Additionally, sellers were only able to receive 92 percent of their list price back in 2011, while sellers today are able to get around 98 percent.

2011 2016 Percent Change
Average Sales Price $112,923 $245,795 117%
Average Days on Market 95 13 -86%
Total Number of Sales 11 19 73%
Sale Price/List Price Ratio 92% 98%