Metro Atlanta Market Statistics

I cannot believe we are halfway through 2016. It has been a very fast year so far.  When you look at the Atlanta Market statistics and compare the current market versus last year it shows a continued improvement in 2016.  Right now it has slowed down a bit – especially in the higher end price points.  If you look at June 2015 and compare it to this June the numbers look good. Interest rates are still holding around 3.625% and inventory is low.   To give you a good example, in Cobb County there are 243 homes for sale between $150,000 – $200,000.  In January of 2013 there were 1,381 home for sale.  That is an 80% reduction in inventory. That is huge!

Inventory being low has resulted in an increase in sales prices and lower days on market.  If you plan on  buying or selling in this market here are some tips to help you.

For Sellers

• As a seller, you cannot ignore the impact that distressed properties have in the market. Depending on the market, in a sellers area, it could have an impact on the lender appraisal.
• When selling, you want to maximize your selling price and minimize the days on market. Do this by choosing an initial listing price that gives your home high value compared to competing listings.  If you choose wrong and have to price reduce, it effects the list to sales price and increases the days one market.
• Re-evaluate market trends continuously to re-assess pricing choices.  I am a big believer in that. I re-evaluate weekly to see how the market is doing.  Staying on top of the market and taking action when needed, will help in reducing the risk of chasing the market or missing a window of opportunity to sell your home.

For Buyers

• Supply vs. demand – it is a sellers market.  This means that properties in great condition or in highly desirable areas will move quicker and have stronger offers.
• The distressed property market has dropped off – it only makes up 6.4% of properties for sales. With the lack of distressed properties is has become a more competitive market for homes in desirable areas.
• As a buyer, you cannot wait to “think about it.” Buyers need to act quick and with serious and competitive offers.   High-value properties are found in 44.2% of sales in the first quarter of 2016.   With the lower days on market and a higher list to sales price, a buyer can expect to be in competition with others and in multiple offer situations.
• Interest rates are low, so if a buyer finds the right property, it is still an excellent time to buy.

Atlanta Market Statistics for July 2016

• Properties listed for sale are slightly lower.  They are down -1.9%.
• Pending sales are +10.3% higher compared to June 2015.
• Sold properties have increased by 1,267 homes sold.  That in an increase of +9.6%.
• Month supply of inventory is down from 3.5 to 3.1 months.
• Median sales price is up $13,000 to $248,000.  This is due to low inventory.
• Median days on market is down a whopping -37.7% from 53 to 33 days.

Detached Home Market Report

Attached Homes Monthly Market Report

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