Atlanta Real Estate Blog - Premier Atlanta Real Estate
Atlanta Real Estate Market, May 2020
Different Prices Affected Differently By COVID-19
April 22 2020 Market Update
COVID-19 Affect on the Atlanta Real Estate Market April 1-7
Full Transcript Here:
We're certainly all in unique times and the real estate market is not immune to the changes happening around us. Many buyers think now is the time to make low offers and many sellers are waiting on the sidelines - for the "right time" to list their home. In the meantime, the market is moving along - faster than you might think. I'm Ryan Ward with PARE and I'm going look at the numbers and see if we can get a little perspective on all of this in just about 2 minutes!
If you have any questions, please call, text me or drop a comment below...
For now, let’s compare last week to the same week one year ago and see what we find. I’ve used homes between $100,000 and $1,000,000 for this.
Last week, 1,203 houses went under contract and last year, 1,643 homes did. That’s a drop of 26% from last year and a smaller drop than the drop for new listings. The pending to active ratio, which we use as a leading indicator is 75% now and 74% last year. More good news.
Fewer pending sales should be expected during this time. However, since fewer new listings are entering the market than are selling, inventory is actually reducing. To further help keep the supply in check, more homes are coming off the market than last year as well. Last week there were 648 withdrawn and expired listings. Last year at the same time there were 434. More good news. New listings - pending sales...
Atlanta Supply & Demand During Covid-19
What Does The Market Look Like Today?
9 Metro Atlanta Farmhouses You Can Buy Right Now
Fixer Upper is over but Chip and Joanna have forever left their mark on the housing market with their varied modern/rustic/farmhouse designs. Below is a handpicked list of what we think are the 9 best Farmhouse (or variations thereof) style homes you can buy today. Search all Farmhouses for sale in Atlanta here.
Roswell Real Estate Market Updates
Roswell Market Report May 2019
What Do These Statistics Mean For Roswell?
Still A Seller's Market
While we do see signs of change possible on the horizon in the overall real estate market in Metro Atlanta, it remains a seller's market for the majority of price points in Roswell and all of them under one million dollars. The Active/Pending ratio, which is a leading indicator, is lower for the second straight month at 47.1% compared to 54% that we saw last month. June is historically the busiest month of the year for real estate sales in Roswell and all of Atlanta. We would really like to see this number above 50%.
Demand For Homes In Roswell Is Strong
There were more sales this year in May at 168 than last year at 157 and this broke what looked like the beginning a slowing trend from the previous 2 months.
Thinking Of Transitioning To An Active Adult Community?
While moving into a smaller more comfortable home might be the right decision, downsizing can be challenging, but it doesn't have to be! Join us, at Vickery Rose in Roswell to learn simple steps to sell your home and how to simplify the process.
Please Fill Out The Form For More Information
Vickery Rose is located at 295 Crossville Rd, Roswell, GA 30075. We look forward to answering your questions!...
Martin's Landing Market Minute, February 2019
It's no secret that the overall real estate market slowed last fall on a national and local level. However, the market in Roswell and specifically at a hyperlocal level in Martin's Landing remains extremely strong. There are 15 homes for sale in Martin's Landing right now (February 8th) and of those 15 homes, 7 are under contract! Keep in mind also that January and February are the slowest months of the year...
Two January Sales in Martin's Landing
Last year in January, 8 homes sold and while this year's number looks low, there were only 3 sales in February last year. Based on current pending sales, we will double or triple that this February. The January 2019 sales in Martin's landing were 11200 Martin Ridge Rd for $308,000 and 100 N Pond Ct for $242,000. Another home, 360 Spring Lake, was scheduled to close January 31st and it hasn't updated in the system yet. I'm not sure if it closed or had the closing pushed out a few days. I'll report it next month either way...
Martin's Landing Real Estate Agent
If you are ready to sell your home in Martin's Landing, contact us. The first step typically starts with getting an idea of what your home will sell for in today's market followed by finding out what marketing techniques will get your home sold for the most amount of money in the least amount of time. Fill out the form below or give us a call for a no-obligation consultation.
2019 Premier Atlanta Real Estate Casino Party
Martin's Landing Market Minute, 2018 Recap
December will close out a strong month and a very good year for real estate in Martins Landing. As of December 17th, 61 homes sold and 5 more are slated to close before year-end. It will be just a few short of the number of homes sold in 2017, which is consistent with what we are seeing across Roswell and all of Metro Atlanta,
The average price of homes sold in 2018 is $337,197 with average days on market of 35 and homes selling at just over 97% of the original asking price. In 2017 there were 72 closings with an average price of $332,985 when the average days on market was 32 and right at 97% of the original price.
The most expensive home to sell this year was 8900 Martin Rd that sold for $500,000 and it only took 3 days to go under contract in April. The agent representing the buyer and the seller were out of 2 different Keller Williams offices. The list price was $499,000 and it sold for $500,000 with the seller contributing $10,000 toward the buyer's closing costs.
Current Martin's Landing Inventory
***Multiple Offers Received***
Below is our featured Martin's Landing home for sale and all other...
2018 Premier Atlanta Real Estate Fall Festival, Thank You!
Do Your Homework!
It’s hard to believe, but the beginning of a new school year is just around the corner! Although I am sure your kids are still enjoying their summer vacation, it will be no time before they have picked out the perfect backpack and stuffed it with all the essential school supplies.
One of the top search criteria I hear from buyers is schools. Schools can be a primary reason for moving and a major deciding factor for the home you choose to buy. First and foremost, parents want the best schools for their kids - that is a given. But beyond that, the school district where a home resides can determine the market value of a home and it’s potential to gain value in the future. And, the sought after schools can also help you down the road when it comes time to sell your home - making it more desirable to potential buyers.
Looking for a home in a particular school district? On the Premier Atlanta Real Estate site, we have an awesome tool to help you search for available homes located near the most popular schools in the area. Check out this link:
Want to do some more homework? Request a copy of the Atlanta Business Chronicle annual school guide. When doing research on schools, I recommend reviewing test scores and visiting schools in person to speak with staff who can then provide you with more information about each school. A good place to start is with the annual Atlanta Business Chronicle School Guide. Send me an email at [email protected] to request a copy and I will mail you one directly.
Are you are ready to start...
What's The Real Story? It's Probably Pricing!
Time and again, I come across a home listing that is well kept, with awesome features, in a great neighborhood... but it just isn't selling.
Buyers will ask, "why has is been on the market so long?" Sellers will ask, "why isn't my house selling?"
And the answer is usually: PRICE.
My job, as your highly skilled real estate professional, is to do the research and give you the tools and information to price your home properly, or to make the appropriate offer on a property. To get that information, I look at factors such as style, size, features, geographic location, schools, etc. in comparison to comparable recently sold (in the last 3 - 6 months) properties. I don't set the price - you don't set the price - THE MARKET SETS THE PRICE.
The goal is to sell the property in the least amount of time for the most money. And your pricing strategy will have a direct effect on your success of selling for the most money in the least amount of time. Statistics show that if you price your property too high, you risk sitting on the market for months. And in the end, you will probably be selling for less than if you priced properly from the beginning, because you will need to do price reductions to offset the perception that there is something wrong with the property. Price your property too low, and you aren't maximizing the potential profit from the sale - and the bidding war you hoped to achieve may never materialize.
Take a look at the snapshot below which demonstrates the effect price has on sales vs. listing price and days on market. Getting the price right from the beginning, is your best bet for selling your home for the most amount of money in the least amount of time.
Are you ready to have a chat about selling your home? I would love to meet with you to...
A Tale of Two Markets - Don't Be Fooled!
If you watch the news, read Facebook or know a real estate agent, you've probably heard abut how amazing this real estate market is and how much prices have gone up and it's a great time to sell. Did you also know that certain segments of the market are actually far more favorable to buyers than to sellers? Read on to learn what's really going on in the market...
The market really is actually split into two segments. For one segment, it's a sellers market and for the other, well, it's a buyers market. Do you know which is which?
There is a natural break in the real estate around the $500,000 home price mark. In large part this is because conventional financing in Atlanta goes up to $424,100. If you want to buy a $500,000 home and avoid a jumbo loan with higher rates, you need to put down $75,900 plus you need money for closing costs. This generally means that buyers must have a 20% down payment for loans on purchases over $500,000 and that limits the number of buyers and therefore demand and therefore prices.
The difference between the $500,000 and below market is staggeringly different from the $500,000 and up market. I'll show you 3 different markets in Metro Atlanta that point to this difference and if you jump into this market as a consumer, you need to be armed with this information because it could cost or make you 10's of thousands of dollars.
Point to Remember: If there are less than 6 months of inventory of homes, it is a sellers market and above 6 months of inventory it is a buyers market.
In North Fulton, it is a very strong sellers market below $500,000 and a buyers market for homes above $500,000. Let's look at the numbers:
- Active listings - 335 homes
- Sold listings...
Keys to Successful House Hunting
Use the tried and true newspaper reporters tool to have a fabulous home buying experience! Answer these five Ws and one H to buy your next home with confidence and success!
Why Do You Want A New Home?
The first, and most important question you need to ask yourself is “Why do I want to move?”. Your reason or motivation for moving will drive the rest of the process and will help you answer the rest of the questions. Maybe you are taking a new job in a new city. Maybe you want to be closer to the grandkids. Maybe your family is growing and you need more space. Or maybe you are just ready for new home. Whatever the reason you have for moving, it is the right reason, and it will play a key role in helping you make those key home buying decisions. Figure out your big “WHY” and then keep that as the focus during your house hunting.
How Much Do You Want To Spend?
This will be one of the most expensive purchases you will ever make so you need to begin with a discussion about financing. ALL HOME BUYERS NEED TO MEET WITH THEIR BANKER OR A LENDER BEFORE LOOKING AT ANY HOMES! Pardon my “shouting” - but having your financial ducks in a row before embarking on the home buying process is a crucial step you should take to ensure you start off the process on the right foot. If paying cash, your banker can discuss the status of your accounts, your budget, and provide you with a letter verifying you have the funds available to purchase a home. If financing with a mortgage, the lender can help determine your budget and provide information on the various loan programs available to you, as well as providing documentation of your pre-qualification. The professionals can also help you determine if it is not quite the right time, financially, to purchase a home. Take...
Your Guide To Home Inspections
You have searched and searched and finally found that perfect home to purchase... what is the next step? As soon as you have a property under contract the next important step in the home buying process is conducting an inspection of the property. A home inspection is a valuable tool in evaluating the condition, soundness and safety of the property. The resulting report is a fantastic source of information about the home you are buying, and can highlight items that need to be addressed prior to purchase.
A home inspection should be conducted by a professional, licensed, experienced and highly recommended home inspection contractor. As in every industry, there are good and bad home inspectors. Ask for recommendations from your real estate agent - they have worked with many inspectors and have valuable insights to help with the selection process. Your agent will know which inspectors will provide the best and most useful information and provide excellent customer service, all for a reasonable price. You can also ask trusted family and friends for inspector recommendations. Once a professional is selected, your agent will schedule the inspection, coordinating with the listing agent and home seller.
A home inspection is usually paid for by the buyer. On the day of the inspection, the buyer (along with the buyer's agent) is invited to walk through the property with the inspector so they can verbally discuss and visually point out any findings . The inspector will also provide a written report for the buyer and agent to review, documenting all the things they observed while evaluating the property.
What is usually evaluated as a part of the inspection:
Will You Be Early Out of the Gates?
You have probably heard lots of advice about the best time of the year to put your house on the market … “Spring! Sell in the spring, it’s the best time” they will say. But getting a jump on the real estate market may be your best opportunity to come up a winner when selling your home. Here are just a few of the ways listing your home in January and February can benefit you in the home selling race.
Inventory is Low
The holidays did little to slow down the robust real estate market and we find ourselves still deep into a Seller’s Market. What that means is inventory is low and there are not enough homes to meet the demand of the buyers in the current market. This is the case both nationally and locally. According to realtor.com, on a national level, active listings are down a staggering 11% when compared to 2015.* Here in Atlanta, intense demand is resulting in a 12.1% reduction of listings compared to this time last year.
So who remembers their Economics 101 class? Bueller? Bueller? When demand is high and the inventory is low, it is the BEST TIME TO SELL! As long as you follow the professional and knowledgeable advice of your carefully selected listing agent, you will likely be able to get more for your home and sell quickly.
As we head in to the spring months, inventory will inevitably increase. Your home will have more competition, you will have to work extra hard to get the attention of the buyers out shopping. That may mean pricing lower than the house for sale around the corner, making extra updates to your home, and dealing with fickle buyers. Be the star of the show by listing your house in January or February reap the rewards!
People who are house hunting in January and...
Posts By CategoryAll Categories Alpharetta (2) Announcements (3) Atlanta (11) Buying (4) Home Improvement (1) iPad (2) Lifestyle (1) Luxury (1) Main (1) Milton (1) Opinion (1) Real Estate Market (24) Roswell (3) Selling (1)
Posts By Month
- Ansley Park
- Atlanta Luxury Homes
- Atlantic Station
- Avondale Estates
- Candler Park
- Chastain Park
- East Cobb
- Johns Creek
- Ranch Homes
- Sandy Springs
- Virginia Highland