Time to check the Atlanta area housing market. Below, we look at a few key indicators across the metro area; we look inside and outside the perimeter. Areas reviewed include Marietta, Alpharetta, Cumming, Decatur (30030), Dunwoody (30338) and Atlanta (30306). We examine the “how much, how long and how many” questions – and clear patterns are apparent. This is also a great check against the national reports about housing; EVERYTHING is local. Even here, the areas are broad and if we drill down by specific schools, price points, submarkets….we’ll see different results. Hover over the chart points to see a year over year comparison. On with the show…
This is a nice, steady chart for each area. 30030 was a little loose a time or two but the three year trend for each area is positive and at a very reasonable rate.
How Long it Takes to Sell a House
A bit herky jerky at times but largely predictable. The first two quarters of the year tend to be the “hot” ones; consistent other than Cumming and 30306 which each saw increases last quarter.
Sale to List Price Ratios
For the most part, sellers in each of these markets saw a 98% to 99% offer on their home. Zip 30030 rang the “100% ‘er” bell in 2nd qtr ’16 which is an obvious sign of strength. Ratios flex a bit in each market but hardly significantly.
Number of Homes on the Market
Lots of complaining about inventory and here we see a clear inside/outside perimeter split. The ‘burbs are down a bit over three years but not that much. The “spring bounce” is evident and this is again predictable. Inside the perimeter has the usual ebb and flow but less drastic than outside.
Number of Homes Under Contract
Again we see the stark contrast in activity inside and outside of the perimeter. The first two quarters are universally the busiest, especially so in the ‘burbs where many families are shopping to get homes ahead of the upcoming school year.
Number of Homes Sold
The 2nd qtr of each year tends to be the busiest for closings followed closely by the third. This is consistent with the charts above and a pattern that many buyers and sellers recognize.
So all in all, these sample real estate markets seem to be performing consistent with what would be expected in a generally “healthy” one. The expected patterns are there and for the most part, the rate of appreciation and affordability of the “Atlanta market” remains better than many other national areas. This is still a broad view; we regularly drill down to the appraisal level to give our clients the highest level of confidence possible. These markets are impacted by so many variables that everything must be kept in context.
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