The Atlanta Market Report for November 2017 is out.  This has been a crazy year.  Inventory is incredibly low and we are seeing a slight adjustment in the higher price points.  In January of this year, the $500-$600,000 price point had an average of 5.1 months supply. Now the average is 5.8 which means we are seeing the 500+ starting to slow down.  The months supply of inventory is starting to creep into the 400-500,000 range.  It is only up slightly from the beginning of the year but this trend will continue as it moves to lower price points.  It will be quite a while before we see any form of a balanced market.  So for now it is a great market for both buyers and sellers.  For sellers, it is the lack of inventory.  For buyers, it is the interest rates remaining low.

The attached homes are still really strong but the market is the same as the detached homes.  The higher price point months of supply is starting to increase as well.

The under 300,000 market is still the sweet spot – most of the sales occur between the 100-300,000 range and that is why the inventory continues to remain low.  Properties are being snatched up as soon as they hit the market.

I have clients asking about foreclosure or short sales.  The distressed market ship has sailed, as the overall distressed sales is 1.5% of the market.  To give you a perspective, January 2012 the distressed property sales were 40% of the market.

Atlanta Market Report Statistics

Detached homes

• The number of active properties is lower (10.5%) but the sold properties are up (+1.8%).
• Total distressed properties are down 1.5% to 2.4% of the market
• Failed listing is down (-1.5%) to 29.8%
• Months supply of inventory is down from 2.9 months to 2.6 months
• Median days on market are slightly down from 32 to 28 days.

Attached Homes

• The number of active properties is lower (2.8%) but the sold properties are up (+1.7%).
• Total distressed properties are down (-1.1%) to 1.5% of the market
• Failed listing are up to 20.6% from 18.3%. This is due to the market starting to adjust.
• Months supply of supply of inventory has not changed it is 2.0 months
• Median days on market are slightly down from 20 to 17 days.

Overall the market is still low on inventory especially in the $300,000 and below.  It is going to be that way for a while.  Buyers it is still a good time to take advantage of the low interest rates.  Seller do need to be careful we are seeing higher failed listing in the certain price points.  This means that the sellers are not adjusting their sales prices based on what the market is showing.  It is still a sellers market in most price points.

Atlanta Market Report Detached Home          Atlanta Market Report Attached Homes

Additional Information:

How to Find Homes for Sale in a Low Inventory Market

No place for a Lowball Offer in Today’s Real Estate Market

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