Berkshire Hathaway HomeServices
Georgia Properties
Real Estate Advisor – February 2015
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!
Closings for Metro Atlanta in January were down 39% compared to last month and down 9.5% compared to the previous year. This reflects normal seasonal slowing for the winter.
The average sales price was $243,000 in January versus $255,000 in December. The average sale price for 2014 was $250,000 which was up 42% from the bottom of 2011.
Listed inventory was down 3.2% from last month and up 12% compared to last year. Inventory is up 27.5% 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 rose to 6.7 months versus 5.9 last month. Six months is normal.
The Case-Shiller Index reports that Metro Atlanta home value are up 44% from the recent bottom of March 2012. Home values remain down 12% from the peak of July 2007. The outlook for 2015 values is strong especially in areas with low inventory and high demand from large corporate moves. Contact us to learn the trends in your specific area.
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.
Click here for the latest charts and more details on Metro Atlanta real estate.
Early Spring For Real Estate!
General Beauregard Lee, emerged from his “Weathering Heights” lair at Gwinnett County’s Yellow River Game Ranch just after daybreak on Monday, February 2nd to find no shadow. That means an early spring for Metro Atlanta. Pennsylvanians weren’t so lucky, as Punxsutawney Phil saw his shadow on Gobbler’s Knob northeast of Pittsburgh. According to the old German legend, that means winter will last another six weeks. It is no surprise that the migration to the sunbelt is back in full swing. Metro Atlanta has seen a series of major announcements with large corporations moving key employees to Metro Atlanta. That means an early spring for real estate sales! If you are considering listing your property, there are specific actions you should be taking now to get your property ready. Contact us for details.
Spring Forward On March 8th!
Yes, it is that time of year again. Daylight Saving Time begins at 2am Sunday morning, March 8th. Move your clock forward one hour when you go to bedSaturday night! People often ask - what is Daylight Saving Time and why do we have it? Daylight Saving Time is a way of getting more light out of the day by advancing clocks by one hour during the summer. During Daylight Saving Time, the sun appears to rise one hour later in the morning, when people are usually asleep anyway, and sets one hour later in the evening, seeming to stretch the day longer. If you would like to set your clock to the correct time, please click this link.
Join Us At The Luxury Living Show!
Atlanta Homes & Lifestyles, Phipps Plaza and Berkshire Hathaway HomeServices Georgia Properties have collaborated to host the sixth annual Luxury Living Show. Featuring the latest luxury products and trends from around the world, the show has become an Atlanta favorite. This year’s show will feature the DREAM KITCHEN, DREAM BATH and the Luxury Living Show’s first OUTDOOR LIVING DISPLAY, on view all month at Monarch Court.
Berkshire Hathaway HomeServices Georgia Properties will feature a new interactive kiosk to display our beautiful luxury listings. The company will also highlight our “Elegance Campaign” for the Berkshire Hathaway HomeServices Luxury Collection. The event is free to the public.
WHEN: March 1-31, 2015
WHERE: Phipps Plaza, Monarch Court
We would be honored to assist you or someone you know with their real estate needs. 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 678-513-2014 or email us at Arthur.Prescott@BHHSGeorgia.com.
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