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February 2018 Market Update

2/19/2018

Berkshire Hathaway HomeServices Georgia Properties
Real Estate Advisor – February 2018

We are providing this monthly real estate advisor to keep you informed about the latest trends and issues in the real estate market.  Remember that real estate is local and every market is different.  Contact us to find out the specific details for your local area.  If you know someone else who might be interested in receiving this report or who may benefit from our expertise, please let us know.   Better information leads to better real estate decisions!

Below is the summary for Greater Metro Atlanta through January 2018. 

  • For 2017, the Metro Atlanta real estate was the tale of three different markets. The entry-level market had strong demand and very low inventory.  There were many multiple offers and values rose faster than other segments.  The middle market showed normal signs of supply and demand.  The luxury market was a buyer’s market with buyers negotiating better pricing and terms.
  • For 2018, we see strong buyer demand with serious challenges for listed inventory in many price points and areas. Mortgage rates are rising slowly which will impact affordability.  BUT Metro Atlanta continues to be very affordable relative to other metros. 
  • January pending contracts were up 38% from December and up 14.7% from the prior year. Closings were down 33% from December and down 1.3% from the prior year. 
  • The trailing 12 months pended sales units were up 4.8% versus the prior year. The trailing 12 months closed units were up 3.8%.   
  • The Average Sales Price for January was $283,000 – down 2.4% from December and up 7% from last year. 2017 achieved the highest annual ASP on record.    
  • Inventory for January was down 8.7% from December and down 11.9% from last year. This is the lowest level of inventory in 5 years.   
  • Overall Months of Supply for January was 4 months. Six months is considered normal.  Luxury properties took longer with homes above $1 million averaging 18 months and properties over $2 million averaging 35 months to close.  The luxury market remains a buyer’s market in most areas.   
  • The latest Case-Shiller Index for Atlanta (1/27/18) was statistically flat compared to the previous month. Metro Atlanta home values are up 69% from the bottom of March 2012.  Increased home values are building equity and getting sellers back into the market. 

Information Contained In This Report Is Proprietary And Not To Be Copied Or Reproduced In Any Way Without The Prior Consent 
Of Berkshire Hathaway HomeServices Georgia Properties.  Information Is Deemed Reliable But Not Warranted.

January 2018 Market Update

1/23/2018

BERKSHIRE HATHAWAY HOMESERVICES 
GEORGIA PROPERTIES

REAL ESTATE ADVISOR – JANUARY 2018

 

We are providing this monthly real estate advisor to keep you informed about the latest trends and issues in the real estate market. Remember that real estate is local and every market is different. Contact us to find out the specific details for your local area. If you know someone else who might be interested in receiving this report or who may benefit from our expertise, please let us know. Better information leads to better real estate decisions!


Below is the summary for Greater Metro Atlanta through December 2017.

  • For 2017, the Metro Atlanta real estate was the tale of three different markets. The entry-level market had strong demand and very low inventory. There were many multiple offers and values rose faster than other segments. The middle market showed normal signs of supply and demand. The luxury market was a buyer’s market with buyers negotiating better pricing and terms.
  • December pending contracts were down 18% from last month and up 6.5% from the prior year. Closings were down .2% from November and down 3.8% from the prior year.
  • Full year pended sales units were up 5% versus the prior year. Full year closed units were up 4%. Year-to-date closed sales volume was up 9%.
    The Average Sales Price for December was $293,000 – up 2.4% from last month and up 5% from last year. 2017 achieved the highest annual ASP on record.
  • Inventory for December was down 8.1% from last month and down 9.6% from last year.
    Overall Months of Supply for December was 3.1 months. Six months is considered normal. Luxury properties took longer with homes above $1 million averaging 14 months and properties over $2 million averaging 40 months to close. These numbers indicated a seller’s market under $500,000 and a buyer’s market over $1 million.
  • The latest Case-Shiller Index for Atlanta (12/26/17) was statistically flat compared to the previous month. Metro Atlanta home values are up 69% from the bottom of March 2012. Increased home values are building equity and getting sellers back into the market.

 

Information Contained In This Report Is Proprietary And Not To Be Copied Or Reproduced In Any Way Without The Prior Consent 
Of Berkshire Hathaway HomeServices Georgia Properties.  Information Is Deemed Reliable But Not Warranted.

December 2017 Real Estate Market Update

1/5/2018

BERKSHIRE HATHAWAY HOMESERVICES
GEORGIA PROPERTIES
REAL ESTATE ADVISOR – DECEMBER 2017


We are providing this monthly real estate advisor to keep you informed about the latest trends and issues in the real estate market. Remember that real estate is local and every market is different. Contact us to find out the specific details for your local area. If you know someone else who might be interested in receiving this report or who may benefit from our expertise, please let us know. Better information leads to better real estate decisions!




Below is the summary for Metro Atlanta through November 2017.

  • Metro Atlanta real estate is the tale of three different markets. The entry-level market has strong demand and very low inventory. There are many multiple offers and values are rising faster than other segments. The middle market is showing normal signs of supply and demand. The luxury market remains a buyer’s market with buyers negotiating better pricing and terms.
  • November pendings were down 9.3% from last month and up 16.8% from the prior year. November closings were down 11.8% from September and up 3.4% from the prior year.
  • Year-to-date pended sales units through November were up 5% versus last year. Year-to-date closed units were up 3.8%. Year-to-date closed sales volume was up 9.3%.
  • The average sales price for November was $289,000 – flat from last month and up 4.7% from last year. 2017 is on track to be the highest average sales price on record.
  • Listed inventory for November was down 6.2% from last month and down 9.8% from last year.
  • Overall months of supply for November was 3.5 months. Six months is considered normal. Luxury properties are taking longer with homes above $1 million averaging 15 months and properties over $2 million averaging 27.5 months to close. These numbers indicate a seller’s market under $500,000 and a buyer’s market over $1 million.
  • The latest Case-Shiller Index for Atlanta (11/28/17) was up .16% (statistically flat) compared to the previous month. Metro Atlanta home values are up 69% from the bottom of March 2012. Increased home values are building equity and getting sellers back into the market.
  • Visit HomeServices Lending for the latest mortgage rates. Ask about our Second Opinion program with $100 gift card for a free look. Over 84% of clients who tried the Second Opinion Program closed their loan with HomeServices Lending - because they found a better deal!


Click here for a more detailed set of charts including the National Real Estate Market, Metro Atlanta Real Estate Market and Trends for Georgia Real Estate.

 

The chart below shows a summary of Metro Atlanta Home Values according to the Case-Shiller Index for Atlanta. This is an interesting perspective for general home values across Metro Atlanta. As you can see, home values have essentially recovered from the real estate recession. Local areas and prices point will be different. Yes, real estate is truly local.


Our website provides Instant Home Values Estimates for any properties in the country. You can also model changes to see the impact on the estimated value. Check out your latest estimate!


We can provide you the most accurate value estimate since we have access to proprietary information sources and local details. Contact us for more information.

 

Information Contained In This Report Is Proprietary And Not To Be Copied Or Reproduced In Any Way Without The Prior Consent 
Of Berkshire Hathaway HomeServices Georgia Properties.  Information Is Deemed Reliable But Not Warranted.

 

November 2017 Real Estate Update

11/20/2017

BERKSHIRE HATHAWAY HOMESERVICES
GEORGIA PROPERTIES
REAL ESTATE ADVISOR – NOVEMBER 2017

 

We are providing this monthly real estate advisor to keep you informed about the latest trends and issues in the real estate market. Remember that real estate is local and every market is different. Contact us to find out the specific details for your local area. If you know someone else who might be interested in receiving this report or who may benefit from our expertise, please let us know. Better information helps our clients make better real estate decisions!

 

Hurricane Irma slowed contracts in September but we rebounded in October to stay on track for a positive year in real estate. Below is the summary for Metro Atlanta through October 2017.

  • Metro Atlanta real estate is the tale of three different markets. The entry-level market has strong demand and very low inventory. There are many multiple offers and values are rising faster than other segments. The middle market is showing normal signs of supply and demand. The luxury market remains a buyer’s market with buyers negotiating better pricing and terms.
  • October pendings were up 12.5% from last month and up 12.6% from the prior year. October closings were down 7.6% from September and up 2.7% from the prior year.
  • Year-to-date pended sales units through October were up 4.2% versus last year. Year-to-date closed units were up 4.4%. Year-to-date closed sales volume was up 9.5%.
  • The average sales price for October was $290,000 – up 2.5% from last month and up 7.8% from last year. 2017 is on track to be the highest average sales price on record.
  • Listed inventory for October was down 4.8% from last month and down 9% from last year.
  • Overall months of supply for October was 3.4 months. Six months is considered normal. Luxury properties are taking longer with homes above $1 million averaging 14.6 months and properties over $2 million averaging 28.8 months to close. These numbers indicate a seller’s market under $500,000 and a buyer’s market over $1 million.
  • The latest Case-Shiller Index for Atlanta (10/31/17) was up .24% (statistically flat) compared to the previous month. Metro Atlanta home values are up 69% from the bottom of March 2012. Increased home values are building equity and getting sellers back into the market.
  • Visit HomeServices Lending for the latest mortgage rates. Ask about our Second Opinion program with $100 gift card for a free look. Over 84% of clients who tried the Second Opinion Program closed their loan with HomeServices Lending - because they found a better deal! 

Click here for a more detailed set of charts including the National Real Estate Market, Metro Atlanta Real Estate Market and Trends for Georgia Real Estate. 



As we all get ready to celebrate our modern versions of Thanksgiving, we thought you might find it interesting to recall the history of this event.

The History of Thanksgiving: In 1620, a small ship called the Mayflower left England seeking a new home where they could freely practice their faith, pursue prosperity and own land. After 66 days of treacherous seas, they anchored near Cape Cod which was far north of their intended destination at the mouth of the Hudson River. They called their new home Plymouth and began the process of building a town. During the harsh winter, most of the colonists remained on the ship where they suffered from many afflictions. Only half of the original passengers lived to see the next spring. In March, they moved ashore and met a Native American named Squanto. The Pilgrims had been weakened by malnutrition and illness. Squanto taught them how to cultivate corn, extract sap from maple trees, catch fish in the rivers and avoid poisonous plants. In November 1621, the Pilgrims first corn harvest proved successful. Governor William Bradford organized a celebratory feast. The colonists and Indians celebrated for three days in what is now recognized as the "First Thanksgiving."

 Information Contained In This Report Is Proprietary And Not To Be Copied Or Reproduced In Any Way Without The Prior Consent 
Of Berkshire Hathaway HomeServices Georgia Properties.  Information Is Deemed Reliable But Not Warranted.

 

October 2017 Real Estate Update

10/30/2017

BERKSHIRE HATHAWAY HOMESERVICES
GEORGIA PROPERTIES
REAL ESTATE ADVISOR – OCTOBER 2017

We are providing this monthly real estate advisor to keep you informed about the latest trends and issues in the real estate market. Remember that real estate is local and every market is different. Contact us to find out the specific details for your local area. If you know someone else who might be interested in receiving this report or who may benefit from our expertise, please let us know. Better information helps our clients make better real estate decisions!


Hurricane Irma slowed closings in September but we are still on track to have a positive year for the Metro Atlanta real estate market. Below is the summary for Metro Atlanta through September 2017.

  • Metro Atlanta real estate is the tale of three different markets. The entry-level market has strong demand and very low inventory. There are many multiple offers and values are rising faster than other segments. The middle market is showing normal signs of supply and demand. The luxury market remains a buyer’s market with buyers negotiating better pricing and terms.
  • Hurricane Irma had a negative impact on September closings. Insurance companies temporarily stopped writing policies and many buyers required re-inspections which impacted closings.
  • September pendings were down 15.2% from last month but up 4.7% from the prior year. September closings were down 18.6% from August and 6.9% from the prior year.
  • Year-to-date pended sales units through September remain up 4% versus last year. Year-to-date closed units also remain up 4%. Year-to-date closed sales volume remains up 8.7%.
  • The average sales price for September was $285,000 – down 2.4% from last month and up 5.2% from last year. 2017 is on track to be the highest average sales price on record.
  • Listed inventory for September was down 1.5% from last month and down 6.3% from last year.
  • Overall months of supply for September was 3.6 months. Six months is considered normal. Luxury properties are taking longer with homes above $1 million averaging 16.8 months and properties over $2 million averaging 35.3 months to close. These numbers indicate a seller’s market under $500,000 and a buyer’s market over $1 million.
  • The latest Case-Shiller Index for Atlanta (9/26/17) was up .79% (statistically flat) compared to the previous month. Metro Atlanta home values are up 68% from the bottom of March 2012. Increased home values are building equity and getting sellers back into the market.
  • Visit HomeServices Lending at Georgia.HomeServicesLending.com for the latest mortgage rates. Ask about our Second Opinion program with $100 gift card for a free look. Over 84% of clients who tried the Second Opinion Program ended up closing their loan with HomeServices Lending.

Click here for a more detailed set of charts including the National Real Estate Market, Metro Atlanta Real Estate Market and Trends for Georgia Real Estate.

 

 Information Contained In This Report Is Proprietary And Not To Be Copied Or Reproduced In Any Way Without The Prior Consent 
Of Berkshire Hathaway HomeServices Georgia Properties.  Information Is Deemed Reliable But Not Warranted.

Real Estate Market Update - Sept. 2017

9/29/2017

Berkshire Hathaway HomeServices Georgia Properties
Real Estate Advisor – August 2017

We are providing this monthly real estate advisor to keep you informed about the latest trends and issues in the real estate market.  Remember that real estate is local and every market is different.  Contact us to find out the specific details for your local area.  If you know someone else who might be interested in receiving this report or who may benefit from our expertise, please let us know.   Better information helps our clients make better real estate decisions!

The weather has been mixed this summer and the Metro Atlanta real estate market has also seen mixed results.  Below is the summary for Metro Atlanta through July 2017. 

  • Year-to-date pended sales through July were up 4% versus last year. Year-to-date closings were also up 4%. Pending for July were up 11.7% from last July.  But closings for July were down 5.2% from last July and down 17.3% from past month.    
  • The average sales price for July was $304,000 – down .6% from last month and up 5.6% from last year. 2017 is on track to be the highest average sales price on record.    
  • The listed inventory for July was up 2.2% from last month and down 4.5% from last July. But the limited availability of desirable properties is still driving multiple offers and very quick sales in select areas.
  • Overall months of supply for July was 3.3 months. Six months is considered normal.  Luxury properties are taking longer with homes above $1 million averaging 12.5 months and properties over $2 million averaging 20 months to close.  These numbers indicate a seller’s market under $500,000 and a buyer’s market over $1 million.
  • The latest Case-Shiller Index for Atlanta (7/25/17) was up 1% compared to the previous month. Metro Atlanta home values are up 67% from the bottom of March 2012.  Increased homes values are building equity and getting sellers back into the market. 

 Information Contained In This Report Is Proprietary And Not To Be Copied Or Reproduced In Any Way Without The Prior Consent 
Of Berkshire Hathaway HomeServices Georgia Properties.  Information Is Deemed Reliable But Not Warranted.

Real Estate Market Update - August 2017

8/16/2017

Berkshire Hathaway HomeServices
Georgia Properties
Real Estate Advisor – August 2017 


We are providing this monthly real estate advisor to keep you informed about the latest trends and issues in the real estate market. Remember that real estate is local and every market is different. Contact us to find out the specific details for your local area. If you know someone else who might be interested in receiving this report or who may benefit from our expertise, please let us know. Better information helps our clients make better real estate decisions!

 


The weather has been mixed this summer and the Metro Atlanta real estate market has also seen mixed results. Below is the summary for Metro Atlanta through July 2017.

  • Year-to-date pended sales through July were up 4% versus last year. Year-to-date closings were also up 4%. Pending for July were up 11.7% from last July. But closings for July were down 5.2% from last July and down 17.3% from past month.
  • The average sales price for July was $304,000 – down .6% from last month and up 5.6% from last year. 2017 is on track to be the highest average sales price on record.
  • The listed inventory for July was up 2.2% from last month and down 4.5% from last July. But the limited availability of desirable properties is still driving multiple offers and very quick sales in select areas.
  • Overall months of supply for July was 3.3 months. Six months is considered normal. Luxury properties are taking longer with homes above $1 million averaging 12.5 months and properties over $2 million averaging 20 months to close. These numbers indicate a seller’s market under $500,000 and a buyer’s market over $1 million.
  • The latest Case-Shiller Index for Atlanta (7/25/17) was up 1% compared to the previous month. Metro Atlanta home values are up 67% from the bottom of March 2012. Increased homes values are building equity and getting sellers back into the market.
  • Visit HomeServices Lending at Georgia.HomeServicesLending.com for the latest mortgage rates. Ask about our Close On Time Guarantee and Free Second Opinion programs. Over 80% of clients who tried the Second Opinion Program found a better solution and ended up closing their loan with HomeServices Lending.

Click here for a more detailed set of charts including the National Real Estate Market, Metro Atlanta Real Estate Market and Trends for Georgia Real Estate.

 

 Information Contained In This Report Is Proprietary And Not To Be Copied Or Reproduced In Any Way Without The Prior Consent 
Of Berkshire Hathaway HomeServices Georgia Properties.  Information Is Deemed Reliable But Not Warranted.

Real Estate Market Update - June 2017

7/20/2017

Berkshire Hathaway HomeServices Georgia Properties
Real Estate Advisor – June 2017

We are providing this monthly real estate advisor to keep you informed about the latest trends and issues in the real estate market.  Remember that real estate is local and every market is different.  Contact us to find out the specific details for your local area.  If you know someone else who might be interested in receiving this report or who may benefit from our expertise, please let us know.   Better information helps our clients make better real estate decisions!

The weather is getting warmer and so is the Metro Atlanta real estate market.  Pendings are up and closings are up.  Below is the summary for Metro Atlanta with data through May 2017. 

  • Year-to-date pended sales through May were up 4.3% versus last year. Year-to-date closings were up 4.9% versus last year and up 2.4% from last May.
  • The average sales price for May was $304,000 - up 2% from last month and up 5.6% from last year. 2017 is on track to be the highest average sales price on record.   
  • The listed inventory for May was up 5.8% from last month and down 5.7% from last May. But the limited availability of desirable properties is still driving multiple offers and very quick sales in select areas.
  • Overall months of supply for May was 2.7 months. Six months is considered normal.  Luxury properties are taking longer with homes above $1 million averaging 10.3 months and properties over $2 million averaging 25 months to close.  These numbers indicate a seller’s market under $500,000 and a buyer’s market over $1 million.
  • The latest Case-Shiller Index for Atlanta (5/30/17) was essentially flat compared to the previous month. Metro Atlanta home values are up 63% from the bottom of March 2012.  Increased homes values are building equity and getting sellers back into the market. 

Click here for a more detailed set of charts including the National Real Estate Market, Metro Atlanta Real Estate Market and Trends for Georgia Real Estate.

 

 Information Contained In This Report Is Proprietary And Not To Be Copied Or Reproduced In Any Way Without The Prior Consent 
Of Berkshire Hathaway HomeServices Georgia Properties.  Information Is Deemed Reliable But Not Warranted.

Real Estate Market Update - May 2017

6/19/2017

The weather is getting warmer and so is the Metro Atlanta real estate market.  Pendings are up and closings are up.  Below is the summary for Metro Atlanta with data through May 2017. 

  • Year-to-date pended sales through May were up 4.3% versus last year. Year-to-date closings were up 4.9% versus last year and up 2.4% from last May.
  • The average sales price for May was $304,000 - up 2% from last month and up 5.6% from last year. 2017 is on track to be the highest average sales price on record.   
  • The listed inventory for May was up 5.8% from last month and down 5.7% from last May. But the limited availability of desirable properties is still driving multiple offers and very quick sales in select areas.
  • Overall months of supply for May was 2.7 months. Six months is considered normal.  Luxury properties are taking longer with homes above $1 million averaging 10.3 months and properties over $2 million averaging 25 months to close.  These numbers indicate a seller’s market under $500,000 and a buyer’s market over $1 million.
  • The latest Case-Shiller Index for Atlanta (5/30/17) was essentially flat compared to the previous month. Metro Atlanta home values are up 63% from the bottom of March 2012.  Increased homes values are building equity and getting sellers back into the market. 

Click here for a more detailed set of charts including the National Real Estate Market, Metro Atlanta Real Estate Market and Trends for Georgia Real Estate.

 Information Contained In This Report Is Proprietary And Not To Be Copied Or Reproduced In Any Way Without The Prior Consent
Of Berkshire Hathaway HomeServices Georgia Properties.  Information Is Deemed Reliable But Not Warranted.

Real Estate Market Update - April 2017

5/16/2017

Berkshire Hathaway HomeServices Georgia Properties
Real Estate Advisor 

We are providing this monthly real estate advisor to keep you informed about the latest trends and issues in the real estate market.  Remember that real estate is local and every market is different.  Contact us to find out the specific details for your local area.  If you know someone else who might be interested in receiving this report or who may benefit from our expertise, please let us know.   Better information helps our clients make better real estate decisions!

The weather is getting warmer and so is the Metro Atlanta real estate market.  Pendings are up and closings are up.  Below is the summary for Metro Atlanta through April 2017. 

  • Year-to-date pended sales through April were up 4.4% versus last year. Year-to-date closings were up 4.3% versus last year and down 7% from last April. Closings under $200,000 are significantly lower due to extremely limited supply.  Other price points are performing well compared to last year – which was very strong in the spring.       
  • The average sales price for April was $300,000 - up 4.5% from last month and up 5.2% from last year. 2017 is on track to be the highest average sales price on record.    
  • The listed inventory for April was up 3.8% from last month and down 7.2% from last March. But the limited availability of desirable properties is still driving multiple offers and very quick sales in select areas.
  • Overall months of supply for April was 3.2 months. Six months is considered normal.  Luxury properties are taking longer with homes above $1 million averaging 12.8 months and properties over $2 million averaging 30.4 months to close.  These numbers indicate a seller’s market under $500,000 and a buyer’s market over $1 million.
  • The latest Case-Shiller Index for Atlanta (4/28/17) was essentially flat compared to the previous month. Metro Atlanta home values are up 61% from the bottom of March 2012.  Increased homes values are building equity and getting sellers back into the market. 
  • Visit HomeServices Lending at HomeServicesLending.com for the latest mortgage rates. Ask about our Close On Time Guarantee and Free Second Opinion programs.  Over 77% of clients who tried the Second Opinion Program found a better solution and ended up closing their loan with HomeServices Lending.  

Click here for a more detailed set of charts including the National Real Estate Market, Metro Atlanta Real Estate Market and Trends for Georgia Real Estate.

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