Atlanta Real Estate Market Trends! Berkshire Hathaway HomeServices Georgia Properties Real Estate Advisor For August 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.

Our MEGA Open House Event is Sunday, August 20th from 2pm – 5pm. There will be hundreds of beautiful open houses open across Metro Atlanta. We are having great success in attracting buyers for our MEGA Open Houses! Our MEGA Open House Events are very different from the standard open houses from other companies. We invest in significant advertising on Zillow, Facebook, digital billboards and local promotions to attract more visitors. We are also the leader in listed properties so we have a lot of inventory to see! If you know anyone interested in listing their home, we would be honored to help.

The Greater Metro Atlanta area is home to thousands of elementary, middle and high schools. Safe Kids USA offers the following Top Back to School Safety Tips:

Reminders for Drivers:

• Slow down and be especially alert in residential neighborhoods and school zones.
• Watch for children on and near the road in the morning and after school hours.
• Reduce any distractions inside your car so you can concentrate on the road and your surroundings. Put down your phone and don’t talk or text while driving.

Reminders for Kids:

• Kids should cross the street with an adult until they are at least 10 years old.
• Never run out into the streets or cross in between parked cars.
• Make sure kids always walk in front of the bus where the driver can see them.

Labor Day is Monday September 4, 2017. Together, we will celebrate the contributions of workers across America. Labor Day has also become the symbolic end of the summer season - although summer officially ends on September 21. In high society, Labor Day is the last day of the year when it is fashionable to wear white or seersucker.

There is some debate over who first proposed the celebration of Labor Day back in 1882. Some believe it was a gentleman named Matthew Maguire who was serving as the secretary of the Central Labor Union of New York. Others believe it was Peter McGuire of the American Federation of Labor who had seen a similar celebration in Canada. Regardless of which Maguire/ McGuire, we are all happy this popular federal holiday now exists.

Labor Day is also the unofficial start of football season! High school, college and NFL teams will be underway. May your favorite teams play well.

We would be honored to assist you or someone you know with their real estate needs. We are experts in the local market and have access to proprietary information sources that are not available to the public. Better information leads to better decisions!

Lake Sidney Lanier Homes is the most comprehensive online source for information on Lake Lanier homes for sale and Lake Lanier area real estate. View the latest Lake Lanier home listings, foreclosures, lots, land, sales trends and real estate topics on Lake Lanier. Arthur Prescott is an Accredited Buyer's Representative and Certified Residential Specialist with Berkshire Hathaway HomeServices Georgia Properties. He has over a decade of Lake Lanier real estate experience. If you would like to schedule a free buyer or seller consultation, please feel free to contact us directly at www.LakeSidneyLanierHomes.com or 770-844-8484 or email us at Arthur.Prescott@BHHSGeorgia.com.