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!
On Ground Hog Day, General Beauregard Lee did not see his shadow which forecasts an early spring. Our company is having a very fast start to 2016 with pending sales up over 20%.But the market as a whole is relatively normal compared to last year.
- Closings for January 2016 were up 1.4% versus January 2015 – which is statistically flat.
- The average sales price for January was $258,000 which was down 4% from last month and up 8% from last year.
- The listed inventory for January was down 4.3% from last month and down 4.6% from last year. But the limited availability of desirable properties is still driving multiple offers and very quick sales in select areas.
- Overall months of supply for January was 5.6 months versus 3.6 months in December and 5.9 months last January. Six months is considered normal. Luxury properties are taking longer with homes above $1 million averaging 22 months and properties over $2 million averaging 41 months.
- The latest Case-Shiller Index (1/26/16) reports that Metro Atlanta home values are up 52% from the recent bottom of March 2012 and up 5.6% from last year. Increased homes values are getting some sellers back into the market.
- Visit HomeServices Lending at http://Georgia.
HomeServicesLending.com for the latest mortgage rates. The Mortgage Bankers Association predict rates over 5% in 12 months. - New Homes are moving fast – but many builders cannot build them fast enough for the demand. Visit http://www.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 areas and would be happy to help you.
Penske Truck Rental published their latest moving destination list and Atlanta was ranked #1 for the 6th year in a row. The trend of moving to the Sun Belt has returned. Desirable attributes that help Metro Atlanta include a business friendly environment, low cost of living for a metro area, airport, moderate weather with 4 seasons and a high quality of life.
Here is the Top 10 List including previous rank:
- Atlanta (1)
- Phoenix (4)
- Tampa/Sarasota (2)
- Dallas/Fort Worth (3)
- Orlando (5)
- Denver (7)
- Houston (8)
- Seattle (6)
- Las Vegas (10)
- Chicago (9)
Our MEGA Open House Event will be Sunday, February 21st from 2pm – 5pm. There will be hundreds of beautiful open houses across Metro Atlanta. We will be giving away a brand new iPad Air to one lucky person in our sweepstakes promotion. This might be the right time to make your move! Contact us for additional details.
Interested in the latest home values? Check out our exclusive home value estimate tool that provides three value estimates from sources including Zillow, Local Public Records and RPR (Realtors® Property Resource). We also provide a new option to make your own value adjustments on any property. You can print, save, share and get a reminder for the latest updates. This is the most comprehensive solution for home value estimates available. If you are interested in listing your property, we have additional information sources and professional local insight to help determine the most accurate value of your property.
We hope everyone had a great Valentine’s Day and wish you and your loved ones an early spring!
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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