We sell and manage a lot of real estate in Northwest Atlanta. The press has been all about the great market we are in. The Sellers Market. Multiple Offers! Offers Over List Price! Our market is strong and it is a seller’s market – at certain price points! Let’s take two market’s and look deeper into the statistics.
Roswell, GA 30075 had 63 Active listings, 21 Home’s under contract, and 20 Sales in the past 30 days. A 3.05 month supply of homes indicates a slight seller’s market. Median List Price is $449,950 and Median Sales Price is $333,000. However for homes in 30075 over $660,00 (double median sales price), there were 85 homes for sale, 12 under contract and only 3 closings meaning at that price and above there is a 28+ month supply of homes- it is a buyers market. Look at homes below $333,000 and you will see 17 Actives, 24 under contract, and 14 sales equating to a 1.2 month supply of homes – a very strong seller’s market! SO which is it a strong buyers market or a strong seller’s market? It depends on the pricing of your home. Complicating matters for the over $660,000 crowd is the competition from new home builders as buyers generally prefer new homes overused.
Over Marietta, GA 30066 had 146 Active listings, 65 homes under contract and 54 sales. Under a three month supply of homes means a Sellers Market. Median Asking Price is $319,900. Median Sales Price is $264,950. However, there is a 10 month supply of homes over $500,000 so that segment is a Strong Buyers Market. If you look at homes under $265,000 you’d have found that in the last 30 days there were 39 active listings, 41 homes under contract, and 28 sales or a 1.4 month supply of homes. Again 30066 like all of our neighborhoods has both a strong seller’s market and a strong buyers market depending upon the price.
I could show you example after example but these numbers are confusing enough (if you want to know the value of your home – just ask and we’ll get right on it!
It’s important to note that these are trailing description – we cannot know when the market has shifted until its change has gone beyond normal seasonality. This usually requires 5 to 7 months of data.
What you’ll see in a SELLERS MARKET. Low inventory (under 4 months supply), rising prices, and shorter days on the market. Sellers have the advantage!
What you’ll see in a BUYERS MARKET. Lots of inventory (6 to 8 months of remaining inventory or longer), falling prices, and longer days on the market. Buyers get concessions and pay below list price.
What you’ll see in a NEUTRAL MARKET. Inventory is average (5 to 8 Months of Remaining inventory), stagnant prices, and steady days on the market. Neither buyers or sellers have an advantage.
If you want an informed and honest opinion as to what your property is worth realistically anywhere in Northwest Atlanta give us a call and we will prepare our unique Pricing Analysis for you to review. No Cost or Obligation.
Just give us a call at 770-726-1454 or email us at:
Mike: mike.stott@mac.com
Jon: jonburkehomes
