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 Metro Atlanta through November 2017.
- Metro Atlanta real estate is the tale of three different markets. The entry-level market has strong demand and very low inventory. There are many multiple offers and values are rising faster than other segments. The middle market is showing normal signs of supply and demand. The luxury market remains a buyer’s market with buyers negotiating better pricing and terms.
- November pendings were down 9.3% from last month and up 16.8% from the prior year. November closings were down 11.8% from September and up 3.4% from the prior year.
- Year-to-date pended sales units through November were up 5% versus last year. Year-to-date closed units were up 3.8%. Year-to-date closed sales volume was up 9.3%.
- The average sales price for November was $289,000 – flat from last month and up 4.7% from last year. 2017 is on track to be the highest average sales price on record.
- Listed inventory for November was down 6.2% from last month and down 9.8% from last year.
- Overall months of supply for November was 3.5 months. Six months is considered normal. Luxury properties are taking longer with homes above $1 million averaging 15 months and properties over $2 million averaging 27.5 months to close. These numbers indicate a seller’s market under $500,000 and a buyer’s market over $1 million.
- The latest Case-Shiller Index for Atlanta (11/28/17) was up .16% (statistically flat) compared to the previous month. Metro Atlanta home values are up 69% from the bottom of March 2012. Increased home values are building equity and getting sellers back into the market.
- Visit HomeServices Lending for the latest mortgage rates. Ask about our Second Opinion program with $100 gift card for a free look. Over 84% of clients who tried the Second Opinion Program closed their loan with HomeServices Lending - because they found a better deal!
Click here for a more detailed set of charts including the National Real Estate Market, Metro Atlanta Real Estate Market and Trends for Georgia Real Estate.
The chart below shows a summary of Metro Atlanta Home Values according to the Case-Shiller Index for Atlanta. This is an interesting perspective for general home values across Metro Atlanta. As you can see, home values have essentially recovered from the real estate recession. Local areas and prices point will be different. Yes, real estate is truly local.
Our website provides Instant Home Values Estimates for any properties in the country. You can also model changes to see the impact on the estimated value. Check out your latest estimate!
We can provide you the most accurate value estimate since we have access to proprietary information sources and local details. Contact us for more information.
See the power outage checklist and car checklist to help you get prepared. Experts are predicting a colder than normal winter for our area this year. We want you to be ready and safe!
We wish you a Merry Christmas, Happy Hanukkah and Happy Holiday. Enjoy time with your family and friends and be safe during the holiday season. This is a special time of year and we thank all our clients for their trust. 2017 has been a very good year for our clients and the outlook for 2018 is very positive.
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.
No comments:
Post a Comment