Atlanta Real Estate Market Report

The one thing I love about Market statistics is that they never lie.  I have had people debate me on what they feel the market is doing and it always comes down to statistics.  These are concrete and never waivering.  Some people can interpret the statistics differently or skew them anyway they want, but if you look at the raw statistics they never lie.  This Atlanta real Estate Market Report shows a slight seasonal slowdown of the market but it is still trending upward compared to August 2015.  To me, the most telling sign that the market has or is rebounding is the total percentage of distressed property sales. Detached homes are 3.8 percent and attached homes are 3.3 percent of the total market sales. Back in August 2011, the number was a staggering 46%.  We still have a huge concern about inventory – not much out there.  Take a look at the stats.

Atlanta Real Estate Market Report for Detached Homes 

• Listed (active) property is down -6.5% from last year.
• Number of pending sales are up +5.8%.
• Months supply of inventory is down from 3.0 – 2.7 months (about 10%) compared to last year
• The median original list price and sales price are up about 6% over the last three months.
• Median sales to original list price is up to 97.5%.  Depending on area that statistic could be higher or lower.
• Median days on market has dropped -28.9% from 38 to 27 days.  That is a big drop.

Atlanta Real Estate Market Report for Attached Homes

• Active homes are down -5.3% compared to last year.
• Sold homes are up +7.4%.
• Months supply of listings is really low at 2.0 months.  Last year it was 2.2 months so the amount of homes have not changed.
• Median original list price and sales price both improved 5.0%.
• Median days on market dropped even more than the detached homes.  It dropped from 28 days to 19 days.  That is a -32.1% decrease.

As you can see, the inventory is driving the market right now and dictating most of the statistics. With lack of inventory, the sales price, days on market, and median list to sales price are all higher.  When  the inventory levels off you will not see such the large changes that we have seen over the last couple of years

Strategies For Buyers

• The supply vs. demand relationship gives the sellers an advantage.  As long as this trend continues, quicker decisions and realistic offers will be necessary for buyers of desirable properties.
• For buyers who are interested mainly in the remaining, but few, distressed properties, the supply has dropped to a critically low point where competition among buyers for that supply is very strong, making realistic offer a must for desirable houses.
• Lowball offers on high-value properties will likely result in missing out on a desirable property.
• Making offers too high on properties listed multiple times could result in paying too much.

Strategies For Sellers

• Even though there are fewer of them, do not ignore the impact of distressed properties, especially at priced below $100K, when setting initial listing price, since they still could affect comps. used by lender appraisers.
• Maximize selling price and minimize market time by choosing an initial listing price that represents a high value compared to competing listings.  Price reductions and multiple listing periods sharply reduce S/L ratio and increase day on market when initial listing prices are not competitive with the current market
• Re-evaluate market trends continuously to re-assess pricing choice – timely actions can minimize risk and avoid chasing the market or missing any turns that may develop.

Detached Home Market Real Estate Report

Attached Home Market Real Estate Report

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