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 Greater Metro Atlanta through September 2018.
Click here for a more comprehensive market report slide deck.
- The entry-level market has strong demand and very low inventory. The luxury market remains a buyer’s market in most areas with buyers negotiating better pricing and terms.
- Mortgage Rates are rising slowly which is impacting affordability in the entry-level market. Metro Atlanta remains very affordable relative to other metro areas.
- September Pending Contracts were down 13.6% from August and up 7.3% from the prior year. September Closings were down 20.4% from last month and down 8.7% from the prior year.
- Year-to-Date Pended Sales units were up 1.4% versus the prior year. Year-to-Date Closings were up 1.2% versus the prior year.
- The Average Sales Price for September was $304,000 – down 2% from last month and up 7.4% from last year. 2018 is on track to be the highest annual ASP on record.
- Inventory for September was up 1.7% from last month and flat compared to last year.
- New Listings in September were up 11% versus last year and up 3% year-to-date.
- Overall Months of Supply for August was 3.6 months. Six months is considered normal. Luxury properties took longer with homes above $1 million averaging 17 months and properties over $2 million averaging over 27 months to close.
- The Average List-to-Sale Price Ratio was 96% for all price points. Many properties in high-demand areas are selling above list.
- The Case-Shiller Index for Atlanta (9/25/18) was up .58% compared to the previous month. Metro Atlanta Home Values are up 76% from the bottom of March 2012.
Visit
Prosperity Home Mortgage to meet one of our Mortgage Consultants. Ask about the Prosperity Buyer Advantage and our 7-Day Close program.
Our next MEGA Open House Event is Sunday, October 21st from 2pm – 5pm. There will be hundreds of beautiful open houses available and one lucky sweepstakes winner will get a cool Amazon Alexa Prize Package.
MEGA Open House Events are a very effective component of our Advanced Property Marketing for our seller clients. We run extensive open house ads on Zillow plus Facebook, Instagram, Google and WAZE to generate interest from potential buyers.
If you know anyone interested in listing their home, contact us so we can get them scheduled for a MEGA Open House Event!
Our thoughts and prayers are with those impacted by Hurricane Michael. Fortunately, Metro Atlanta and North Georgia were less affected. Weather forecasters are calling for a colder winter and more potential snow events this season. Now is the time to get ready just in case. Remember, Snow Jam 2014? Thousands of people got stuck in the snowstorm and were not prepared. We want you to be ready! Click the links below for helpful checklists.
Click here for a Hurricane Preparedness ChecklistClick here for a Cold Weather Checklist
We would like to wish you and your family a safe and Happy Halloween. Halloween falls on Wednesday night this year so we wanted to share a couple of ideas that you might use to get ready. For those that are a little more adventurous with your pumpkins, you may want to carve up some scary or funny pumpkins to decorate your home. We thought you might enjoy the options at
ExtremePumpkins.com. Now you can have the coolest house on the street!
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.
