Metro Atlanta Market Snapshot
In an effort to bring you the best information on the market possible, we make this research available. We have a world of data to share with you if you are interested. Just give us a call or send us an email. Here’s a little glimpse of what we can provide thanks to Chart Master Chuck Carr. It’s a great example of what is going on in the market. Here are a few interesting observations:
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The month supply of listings by price range goes up as the prices go up. Hope you aren’t trying to sell your $2M+ listing right now. There’s 44.7 months worth of inventory or close to 4 years. The good news here is that the total amount of inventory represents 9.2 months. This number has been over 12 months less than 6 months ago so we are making progress.
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Foreclosures are clogging the <$200,000 price range.
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Foreclosures represent 1 in 4 market sales right now. We actually think its higher than that. Unfortunately there are some agents who miscode their listings. Agents have to “code” the listing as a foreclosure for it to relay in this data. Many times agents are calling their foreclosure listings “corporate owned.” In our market center circles we believe the number of foreclosures may be more like 1 in 3 sales.
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The price ranges that are moving best over the last 6 months are the <$100,000 and $200,000-$300,000 ranges.
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Homes are selling on average in 77 days on the market for 91.9% of their list price.
With new tax advantages coming (fingers crossed) for homebuyers, historically low interest rates still hanging around, and spring busy season almost among us, I feel comfortable in saying that we are in for a boost. If you are considering selling your home, we understand that this data is rather daunting. However, if you are buying up, it is safe to say that you can make up your loss and then some on your next home. We can help you take advantage of this market. When selling your home, think like a buyer. We are in a price war right now. You have to be ready for battle and dressed to kill!
