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 August 2018. Click here for a more comprehensive market report slide deck.
- The entry-level market has strong demand and very low inventory. Finding the right property is getting harder which is resulting in lower closings for this segment. The luxury market is a buyer’s market with buyers negotiating better pricing and terms.
- Mortgage Rates are rising slowly which will impact affordability. Metro Atlanta continues to be very affordable relative to other metro areas around the country.
- August Pending Contracts were up 3% from July and up 6.2% from the prior year. August Closings were down 11.9% from last month and down 7.1% from the prior year.
- Year-to-Date Pended Sales units were up 4.6% versus the prior year. Year-to-Date Closings were up 2.2% versus the prior year.
- The Average Sales Price for August was $313,000 – down 2.2% from last month and up 7.6% from last year. 2018 is on track to be the highest annual ASP on record. Inventory for August was down .6% from last month and down 3% from last year.
- Overall Months of Supply for August was 3.1 months. Six months is considered normal. Luxury properties took longer with homes above $1 million averaging 11.4 months and properties over $2 million averaging 27.1 months to close. The luxury market remains a buyer’s market in many areas.
- The Average List-to-Sale Price Ratio was 97% for all price points. Many properties in high-demand areas are selling above list.
- The latest Case-Shiller Index for Atlanta (8/28/18) was up .65% compared to the previous month. Metro Atlanta Home Values are up 76% from the bottom of March 2012. Increased home values are building equity and getting sellers back into the market.
- Visit Prosperity Home Mortgage to meet one of our Mortgage Consultants. Ask about the Prosperity Buyer Advantage and our 7-Day Close program.
The latest forecast shows that Greater Metro Atlanta and North Georgia area may not get significant wind and rain from Hurricane Florence. There are other storms forming in the Atlantic as we move into the height of hurricane season. It is always good to be prepared.
Click here for a Hurricane Preparedness Checklist.
Weather forecasters are also calling for a colder winter and more potential snow events. Now is the time to get ready just in case. Remember, Snow Jam 2014? Thousands of people got stuck in the snowstorm and were not prepared. We want you to be ready!
Click here for a Cold Weather Checklist.
Our next MEGA Open House Event is Sunday, September 23rd from 2pm – 5pm. There will be hundreds of beautiful open houses available and one lucky sweepstakes winner will get a cool Amazon Alexa Prize Package. MEGA Open House Events are a very effective component of our Advanced Property Marketing for our seller clients. We run extensive open house ads on Zillow plus Facebook, Instagram, Google and WAZE to generate interest from potential buyers.
If you know anyone interested in listing their home, contact us so we can get them scheduled for a MEGA Open House Event!
Berkshire Hathaway HomeServices Georgia Properties is supercharging our new listings and open houses with an innovative advertising program on Google, Facebook, Instagram, and WAZE. If you know someone who is considering listing this fall, no other brokerage provides this level of exposure. For every new listing, we automatically create social and digital ads that are targeted to the geographic area around the listing. When a consumer clicks on the ad, it displays your custom listing website page. Then, we follow that consumer with more ads of the property to remind them to click back and contact the listing agent. The scale of this program is unprecedented in our market and has been very effective in exposing our listings.
If you or anyone you know is considering listing their home this spring, contact us to learn how we expose our listings to the largest audience!
Berkshire Hathaway HomeServices Georgia Properties is bringing real estate to Alexa and Google Home. Just enable the “Atlanta Real Estate” skill to search properties, check home values and get the latest real estate market update. Enable your Atlanta Real Estate skill today and check it out! You never know – Alexa may help you find the home of your dreams!
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.
Click here for a Hurricane Preparedness Checklist.
Weather forecasters are also calling for a colder winter and more potential snow events. Now is the time to get ready just in case. Remember, Snow Jam 2014? Thousands of people got stuck in the snowstorm and were not prepared. We want you to be ready!
Click here for a Cold Weather Checklist.
Our next MEGA Open House Event is Sunday, September 23rd from 2pm – 5pm. There will be hundreds of beautiful open houses available and one lucky sweepstakes winner will get a cool Amazon Alexa Prize Package. MEGA Open House Events are a very effective component of our Advanced Property Marketing for our seller clients. We run extensive open house ads on Zillow plus Facebook, Instagram, Google and WAZE to generate interest from potential buyers.
If you know anyone interested in listing their home, contact us so we can get them scheduled for a MEGA Open House Event!
Berkshire Hathaway HomeServices Georgia Properties is supercharging our new listings and open houses with an innovative advertising program on Google, Facebook, Instagram, and WAZE. If you know someone who is considering listing this fall, no other brokerage provides this level of exposure. For every new listing, we automatically create social and digital ads that are targeted to the geographic area around the listing. When a consumer clicks on the ad, it displays your custom listing website page. Then, we follow that consumer with more ads of the property to remind them to click back and contact the listing agent. The scale of this program is unprecedented in our market and has been very effective in exposing our listings.
If you or anyone you know is considering listing their home this spring, contact us to learn how we expose our listings to the largest audience!
Berkshire Hathaway HomeServices Georgia Properties is bringing real estate to Alexa and Google Home. Just enable the “Atlanta Real Estate” skill to search properties, check home values and get the latest real estate market update. Enable your Atlanta Real Estate skill today and check it out! You never know – Alexa may help you find the home of your dreams!
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.
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