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November 2017 Real Estate Update

11/20/2017

BERKSHIRE HATHAWAY HOMESERVICES
GEORGIA PROPERTIES
REAL ESTATE ADVISOR – NOVEMBER 2017

 

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!

 

Hurricane Irma slowed contracts in September but we rebounded in October to stay on track for a positive year in real estate. Below is the summary for Metro Atlanta through October 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.
  • October pendings were up 12.5% from last month and up 12.6% from the prior year. October closings were down 7.6% from September and up 2.7% from the prior year.
  • Year-to-date pended sales units through October were up 4.2% versus last year. Year-to-date closed units were up 4.4%. Year-to-date closed sales volume was up 9.5%.
  • The average sales price for October was $290,000 – up 2.5% from last month and up 7.8% from last year. 2017 is on track to be the highest average sales price on record.
  • Listed inventory for October was down 4.8% from last month and down 9% from last year.
  • Overall months of supply for October was 3.4 months. Six months is considered normal. Luxury properties are taking longer with homes above $1 million averaging 14.6 months and properties over $2 million averaging 28.8 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 (10/31/17) was up .24% (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. 



As we all get ready to celebrate our modern versions of Thanksgiving, we thought you might find it interesting to recall the history of this event.

The History of Thanksgiving: In 1620, a small ship called the Mayflower left England seeking a new home where they could freely practice their faith, pursue prosperity and own land. After 66 days of treacherous seas, they anchored near Cape Cod which was far north of their intended destination at the mouth of the Hudson River. They called their new home Plymouth and began the process of building a town. During the harsh winter, most of the colonists remained on the ship where they suffered from many afflictions. Only half of the original passengers lived to see the next spring. In March, they moved ashore and met a Native American named Squanto. The Pilgrims had been weakened by malnutrition and illness. Squanto taught them how to cultivate corn, extract sap from maple trees, catch fish in the rivers and avoid poisonous plants. In November 1621, the Pilgrims first corn harvest proved successful. Governor William Bradford organized a celebratory feast. The colonists and Indians celebrated for three days in what is now recognized as the "First Thanksgiving."

 Information Contained In This Report Is Proprietary And Not To Be Copied Or Reproduced In Any Way Without The Prior Consent 
Of Berkshire Hathaway HomeServices Georgia Properties.  Information Is Deemed Reliable But Not Warranted.

 

October 2017 Real Estate Update

10/30/2017

BERKSHIRE HATHAWAY HOMESERVICES
GEORGIA PROPERTIES
REAL ESTATE ADVISOR – OCTOBER 2017

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!


Hurricane Irma slowed closings in September but we are still on track to have a positive year for the Metro Atlanta real estate market. Below is the summary for Metro Atlanta through September 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.
  • Hurricane Irma had a negative impact on September closings. Insurance companies temporarily stopped writing policies and many buyers required re-inspections which impacted closings.
  • September pendings were down 15.2% from last month but up 4.7% from the prior year. September closings were down 18.6% from August and 6.9% from the prior year.
  • Year-to-date pended sales units through September remain up 4% versus last year. Year-to-date closed units also remain up 4%. Year-to-date closed sales volume remains up 8.7%.
  • The average sales price for September was $285,000 – down 2.4% from last month and up 5.2% from last year. 2017 is on track to be the highest average sales price on record.
  • Listed inventory for September was down 1.5% from last month and down 6.3% from last year.
  • Overall months of supply for September was 3.6 months. Six months is considered normal. Luxury properties are taking longer with homes above $1 million averaging 16.8 months and properties over $2 million averaging 35.3 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 (9/26/17) was up .79% (statistically flat) compared to the previous month. Metro Atlanta home values are up 68% from the bottom of March 2012. Increased home values are building equity and getting sellers back into the market.
  • Visit HomeServices Lending at Georgia.HomeServicesLending.com 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 ended up closing their loan with HomeServices Lending.

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.

 

 Information Contained In This Report Is Proprietary And Not To Be Copied Or Reproduced In Any Way Without The Prior Consent 
Of Berkshire Hathaway HomeServices Georgia Properties.  Information Is Deemed Reliable But Not Warranted.

Real Estate Market Update - Sept. 2017

9/29/2017

Berkshire Hathaway HomeServices Georgia Properties
Real Estate Advisor – August 2017

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!

The weather has been mixed this summer and the Metro Atlanta real estate market has also seen mixed results.  Below is the summary for Metro Atlanta through July 2017. 

  • Year-to-date pended sales through July were up 4% versus last year. Year-to-date closings were also up 4%. Pending for July were up 11.7% from last July.  But closings for July were down 5.2% from last July and down 17.3% from past month.    
  • The average sales price for July was $304,000 – down .6% from last month and up 5.6% from last year. 2017 is on track to be the highest average sales price on record.    
  • The listed inventory for July was up 2.2% from last month and down 4.5% from last July. But the limited availability of desirable properties is still driving multiple offers and very quick sales in select areas.
  • Overall months of supply for July was 3.3 months. Six months is considered normal.  Luxury properties are taking longer with homes above $1 million averaging 12.5 months and properties over $2 million averaging 20 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 (7/25/17) was up 1% compared to the previous month. Metro Atlanta home values are up 67% from the bottom of March 2012.  Increased homes values are building equity and getting sellers back into the market. 

 Information Contained In This Report Is Proprietary And Not To Be Copied Or Reproduced In Any Way Without The Prior Consent 
Of Berkshire Hathaway HomeServices Georgia Properties.  Information Is Deemed Reliable But Not Warranted.

Real Estate Market Update - August 2017

8/16/2017

Berkshire Hathaway HomeServices
Georgia Properties
Real Estate Advisor – August 2017 


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!

 


The weather has been mixed this summer and the Metro Atlanta real estate market has also seen mixed results. Below is the summary for Metro Atlanta through July 2017.

  • Year-to-date pended sales through July were up 4% versus last year. Year-to-date closings were also up 4%. Pending for July were up 11.7% from last July. But closings for July were down 5.2% from last July and down 17.3% from past month.
  • The average sales price for July was $304,000 – down .6% from last month and up 5.6% from last year. 2017 is on track to be the highest average sales price on record.
  • The listed inventory for July was up 2.2% from last month and down 4.5% from last July. But the limited availability of desirable properties is still driving multiple offers and very quick sales in select areas.
  • Overall months of supply for July was 3.3 months. Six months is considered normal. Luxury properties are taking longer with homes above $1 million averaging 12.5 months and properties over $2 million averaging 20 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 (7/25/17) was up 1% compared to the previous month. Metro Atlanta home values are up 67% from the bottom of March 2012. Increased homes values are building equity and getting sellers back into the market.
  • Visit HomeServices Lending at Georgia.HomeServicesLending.com for the latest mortgage rates. Ask about our Close On Time Guarantee and Free Second Opinion programs. Over 80% of clients who tried the Second Opinion Program found a better solution and ended up closing their loan with HomeServices Lending.

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.

 

 Information Contained In This Report Is Proprietary And Not To Be Copied Or Reproduced In Any Way Without The Prior Consent 
Of Berkshire Hathaway HomeServices Georgia Properties.  Information Is Deemed Reliable But Not Warranted.

Real Estate Market Update - June 2017

7/20/2017

Berkshire Hathaway HomeServices Georgia Properties
Real Estate Advisor – June 2017

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!

The weather is getting warmer and so is the Metro Atlanta real estate market.  Pendings are up and closings are up.  Below is the summary for Metro Atlanta with data through May 2017. 

  • Year-to-date pended sales through May were up 4.3% versus last year. Year-to-date closings were up 4.9% versus last year and up 2.4% from last May.
  • The average sales price for May was $304,000 - up 2% from last month and up 5.6% from last year. 2017 is on track to be the highest average sales price on record.   
  • The listed inventory for May was up 5.8% from last month and down 5.7% from last May. But the limited availability of desirable properties is still driving multiple offers and very quick sales in select areas.
  • Overall months of supply for May was 2.7 months. Six months is considered normal.  Luxury properties are taking longer with homes above $1 million averaging 10.3 months and properties over $2 million averaging 25 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 (5/30/17) was essentially flat compared to the previous month. Metro Atlanta home values are up 63% from the bottom of March 2012.  Increased homes values are building equity and getting sellers back into the market. 

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.

 

 Information Contained In This Report Is Proprietary And Not To Be Copied Or Reproduced In Any Way Without The Prior Consent 
Of Berkshire Hathaway HomeServices Georgia Properties.  Information Is Deemed Reliable But Not Warranted.

Real Estate Market Update - May 2017

6/19/2017

The weather is getting warmer and so is the Metro Atlanta real estate market.  Pendings are up and closings are up.  Below is the summary for Metro Atlanta with data through May 2017. 

  • Year-to-date pended sales through May were up 4.3% versus last year. Year-to-date closings were up 4.9% versus last year and up 2.4% from last May.
  • The average sales price for May was $304,000 - up 2% from last month and up 5.6% from last year. 2017 is on track to be the highest average sales price on record.   
  • The listed inventory for May was up 5.8% from last month and down 5.7% from last May. But the limited availability of desirable properties is still driving multiple offers and very quick sales in select areas.
  • Overall months of supply for May was 2.7 months. Six months is considered normal.  Luxury properties are taking longer with homes above $1 million averaging 10.3 months and properties over $2 million averaging 25 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 (5/30/17) was essentially flat compared to the previous month. Metro Atlanta home values are up 63% from the bottom of March 2012.  Increased homes values are building equity and getting sellers back into the market. 

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.

 Information Contained In This Report Is Proprietary And Not To Be Copied Or Reproduced In Any Way Without The Prior Consent
Of Berkshire Hathaway HomeServices Georgia Properties.  Information Is Deemed Reliable But Not Warranted.

Real Estate Market Update - April 2017

5/16/2017

Berkshire Hathaway HomeServices Georgia Properties
Real Estate Advisor 

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!

The weather is getting warmer and so is the Metro Atlanta real estate market.  Pendings are up and closings are up.  Below is the summary for Metro Atlanta through April 2017. 

  • Year-to-date pended sales through April were up 4.4% versus last year. Year-to-date closings were up 4.3% versus last year and down 7% from last April. Closings under $200,000 are significantly lower due to extremely limited supply.  Other price points are performing well compared to last year – which was very strong in the spring.       
  • The average sales price for April was $300,000 - up 4.5% from last month and up 5.2% from last year. 2017 is on track to be the highest average sales price on record.    
  • The listed inventory for April was up 3.8% from last month and down 7.2% from last March. But the limited availability of desirable properties is still driving multiple offers and very quick sales in select areas.
  • Overall months of supply for April was 3.2 months. Six months is considered normal.  Luxury properties are taking longer with homes above $1 million averaging 12.8 months and properties over $2 million averaging 30.4 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 (4/28/17) was essentially flat compared to the previous month. Metro Atlanta home values are up 61% from the bottom of March 2012.  Increased homes values are building equity and getting sellers back into the market. 
  • Visit HomeServices Lending at HomeServicesLending.com for the latest mortgage rates. Ask about our Close On Time Guarantee and Free Second Opinion programs.  Over 77% of clients who tried the Second Opinion Program found a better solution and ended up closing their loan with HomeServices Lending.  

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.

Real Estate Market Update - March 2017

3/17/2017

Berkshire Hathaway HomeServices Georgia Properties
Real Estate Advisor – March 2017

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!

The Metro Atlanta real estate market is off to a mixed start in 2017.  Pendings show strong momentum but closings are slightly down from last year.  Inventory is lower - making it harder to find the right property.  Below is the summary for Metro Atlanta through February 2017. 

  • Year-to-date pended sales through February were up 8.8% versus last year. Year-to-date closings were down 2% versus last year and down 9.8% from last February.     
  • The average sales price for February was $269,000 - up 1.9% from last month and up 5.9% from last year. The annual ASP for 2016 beat the record posted back in 2006.  
  • The listed inventory for February was down 1.8% from last month and down 5.4% from last February. But the limited availability of desirable properties is still driving multiple offers and very quick sales in select areas.
  • Overall months of supply for February was 4.4 months. Six months is considered normal.  Luxury properties are taking longer with homes above $1 million averaging 18.3 months and properties over $2 million averaging 91 months to close.  
  • The latest Case-Shiller Index for Atlanta (2/28/17) was essentially flat (+.16%) compared to the previous month. Metro Atlanta home values are up 61% from the recent bottom of March 2012 and up 2.42% from the average index last year.  Increased homes values are building positive equity and getting some sellers back into the market. 

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.

 

Information Contained In This Report Is Proprietary And Not To Be Copied Or Reproduced In Any Way Without The Prior Consent
Of Berkshire Hathaway HomeServices Georgia Properties.  Information Is Deemed Reliable But Not Warranted.

Real Estate Market Update - February 2017

2/20/2017

Berkshire Hathaway HomeServices
Georgia Properties
Real Estate Advisor – February 2017


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!

 


The Metro Atlanta real estate market is off to a mixed start in 2017. Pendings show strong momentum. Closings are slightly up. Inventory has dropped making it harder to find the right property for some buyers. Here is the summary for Metro Atlanta through January 2017.

  • Pended sales for January 2017 were up 30% from last month and up 14.2% from last January. Closings were down 33.9% from last month and up 2.2% from last January.
  • The average sales price for January was $266,000 - down 5% from last month and up 4.3% from last year. The annual ASP for 2016 beat the record posted back in 2006.
  • The listed inventory for January was down 6.4% from last month and down 5.4% from last January. 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 4.7 months. Six months is considered normal. Luxury properties are taking longer with homes above $1 million averaging 19.6 months and properties over $2 million averaging 82 months to close.
  • The latest Case-Shiller Index for Atlanta (1/30/17) was essentially flat (+.03%) compared to the previous month. Metro Atlanta home values are up 61% from the recent bottom of March 2012 and up 8.06% from the average index last year. Increased homes values are building positive equity and getting some sellers back into the market.
  • Visit HomeServices Lending at Georgia.HomeServicesLending.com for the latest mortgage rates. Ask about our Close On Time Guarantee and Free Second Opinion programs. Over 77% of clients who tried the Second Opinion Program found a better solution and ended up closing their loan with HomeServices Lending.

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.

 

Information Contained In This Report Is Proprietary And Not To Be Copied Or Reproduced In Any Way Without The Prior Consent
Of Berkshire Hathaway HomeServices Georgia Properties.  Information Is Deemed Reliable But Not Warranted.

 

December 2016 Real Estate Market Update

2/1/2017

Berkshire Hathaway HomeServices
Georgia Properties
Real Estate Advisor - January 2017


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!

 

The Metro Atlanta real estate market is off to a fast start for 2017.  The market has been very active during the first few weeks of January. Here is the summary for Metro Atlanta real estate through December 2016.

  • Closings for December 2016 were down 8.2% from last month and down 3.3% from last December. According to Trendgraphix, 2016 closings were up 9.8% compared to 2015.
  • The average sales price for December was $282,000 – up 1.8% from last month and up 5.6% from last year. The annual ASP beat the record levels posted back in 2006.
  • The listed inventory for December was down 8.2% from last month and down 3.3% 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 December was 4.3 months. Six months is considered normal. Luxury properties are taking longer with homes above $1 million averaging 12.2 months and properties over $2 million averaging 28.5 months to close.
  • The latest Case-Shiller Index (12/27/16) was up .41% from the previous month. Metro Atlanta home values are up 61.79% from the recent bottom of March 2012 and up 8.06% from the average index last year. Increased home values are building positive equity and getting some sellers back into the market.
  • Visit HomeServices Lending at Georgia.HomeServicesLending.com for the latest mortgage rates. The recent Fed hike has driven mortgage rates higher and many buyers are taking action before rates rise further. Our Close On Time Guarantee and Free Second Opinion programs have been very beneficial to our clients!

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.

 

Information Contained In This Report Is Proprietary And Not To Be Copied Or Reproduced In Any Way Without The Prior Consent
Of Berkshire Hathaway HomeServices Georgia Properties.  Information Is Deemed Reliable But Not Warranted.

 

 

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