The City of Decatur real estate market continues to thrive!
The City of Decatur blends a small town community vibe with big city excitement. It’s a city that is family-friendly, diverse, progressive and energetic. The sought-after city school system continues to be a strong draw to Decatur.
Despite high buyer demand, the number of homes sold in Decatur dropped somewhat in 2017 due to a lack of available homes for sale. Perhaps the most significant statistic in 2017 is that the monthly inventory of homes dropped to just 2.17 months, a decrease of 18% from 2016. This has led to a historically low market times and stabilization of prices.
With an average market time of just 31 days from the listing date to going under contract, buyers had to scramble when a new listing came on the market. Many sellers were able to choose from multiple offers.
2017 MARKET STATS
252 Homes Sold: Down 17%
$600,000 Median Price: Up 1%
31 Days Time on Market: Down 18%
2.17 Months Inventory: Down 7%
2018 Outlook
The desirability of Decatur will continue in 2018 as the local economy continues to strengthen and more people seek the Intown lifestyle. We expect buyer demand to remain steady or even increase in 2018. While new listings coming on the market will pick up in the Spring the total inventory of available properties for sale in 2018 will remain constrained. Watch for upward pricing pressure in the near future.
If you will be buying or selling a property in 2018, please contact us to discuss your opportunities in today’s market.