Berkshire Hathaway HomeServices
Georgia Properties
Real Estate Advisor – July 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!
Summer is here. The real estate market is hot and sales activity is high. Click here for the full Greater Metro Atlanta Real Estate Report. Here is a summary:
- Closings for June were up 4.9% compared to last month and up 12.3% compared to last year.
- The average sales price jumped to $288,000 in June versus $281,000 in May. The average sales price for year-to-date 2015 is $263,000 which is up 49% from the bottom of 2011.
- Listed inventory was up 5.3% from last month and flat compared to last year. Inventory is up 42% 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 in those areas. Remember, real estate is local and markets can be very different.
- Months of supply remained very low at 3.5 months for both May and June. Six months is considered normal. Luxury properties are taking longer to sell with homes above $1 million showing 10 months of supply and properties over $2 million showing 21 months of supply.
- The latest Case-Shiller Index (6/30/15) reports that Metro Atlanta home values are up 47% from the recent bottom of March 2012. Increasing homes values are getting some sellers back into the market but also decreasing affordability for other buyers.
- Mortgage rates remain very attractive but are expected to move higher soon. Click here for the latest rates.
- New Homes are moving fast – but many builders cannot build them fast enough. Visitwww.NewHomesServicesGA.com to view new home communities.
- Commercial real estate is also making a comeback in Metro Atlanta. Our Commercial Real Estate Division specializes in these types of projects and would be happy to help you.
MEGA Open House Event!
Berkshire Hathaway HomeServices Georgia Properties is pleased to announce our next MEGA Open House event on Sunday, July 19th from 2-5pm. There will be hundreds of beautiful properties on display. With low inventory and mortgage rates expected to rise, the market is very active this summer. Visit one of our open houses and register for a chance to win a brand new iPad Air2. Contact us to learn more.
SOLD PROPERTIES Now Available!
New MLS rules now allow us to show SOLD PROPERTIES on our websites without requiring registration. Now you can easily view SOLD PROPERTIES on your desktop, laptop, tablet or smartphone. This also applies to our Mobile App. Our search tools offer the best data and most comprehensive options. Here are some examples of searches you can perform:
- See Instant Home Value Estimates
- Search By Google Map
- Search By Neighborhood (using Advanced Search Options)
- Search By School District (using Advanced Search Options)
- Search By Drive Time and Walk Score (Mobile App)
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 678-513-2014 or email us at Arthur.Prescott@BHHSGeorgia.com.
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