Closings for Metro Atlanta in November were down 24% compared to last month and down 9.5% compared to the previous year. This reflects the normal seasonal slowing for the fall plus some impact from world events and the November elections.
The Metro Atlanta market is 359 units ahead of 2013 closings which is essentially flat. If you exclude the heavy volumes of investors buying properties under $200,000 last year, the market above $200,000 is actually up 2,916 units or 13.6% compared to 2013.
The average sales price was $249,000 in November versus $245,000 in October. The average sale price for YTD 2014 was $250,000 which was up 42% from the bottom of 2011.
Listed inventory was down 6.1% from last month and up 14.9% compared to last year. Inventory is up 48% from the recent bottom of February 2013. But the limited availability of highly desirable properties in select markets is still driving multiple offers and very quick sales. Remember, real estate is local and specific markets can be very different.
Months of supply is 5.9 months versus 4.7 last month. Six months is considered normal.
New Homes are making a comeback. The problem is that many builders cannot build them fast enough! Visit www.NewHomesServicesGA.com to view new home communities.
Commercial real estate is also making a comeback in Metro Atlanta. Smart RE Data reports that land sales, industrial sales and office leases are improving. Our Commercial Real Estate Division specializes in these areas and would be happy to help you. Contact us for details.
Instant Home Value Estimates
Berkshire Hathaway HomeServices Georgia Properties offers an innovative new solution that allows consumers to enter an address to“click and see” local home value estimates. The estimates are free and do not require registration. In one month, we had over 125,000 new consumers enter their home address to get an estimate. Our website traffic and listing views are up considerably. This is one of the unique ways we are providing more relevant local content to attract more potential buyers for our listings.
Contact Us For Additional Market Details Including Our Exclusive Report Used By Lenders To Value Homes For Mortgages.
The Best Mobile App For Real Estate!
Many consumers will be getting new mobile devices this holiday season. This is a great time to update your device with the latest version of our BHHS Georgia Properties Mobile App. Our Mobile App provides all the listings from our 8 local MLS services. We have the fastest updates, the most filtering options plus Sold Properties and the ability to Search Properties by Drives Times. Contact us to learn more about these amazing mobile search tools.
We want to wish you and your family a Merry Christmas, Happy Hanukkah and Happy Holiday Season!
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 678-513-2014 or email us at Arthur.Prescott@BHHSGeorgia.com.
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