How is the Atlanta real estate market holding up as we enter Summer 2020? Considering an ongoing pandemic, global economic pain and domestic unease….not bad. Below we compare May ’19 with May ’20 data for eight popular markets with a focus on key trend indicators. As expected, the number of listings is down but values have been steady. To this point, no craters and no panic. Rates remain great, buyers are engaged and properly priced and presented homes are getting attention. This isn’t 2010, real estate is likely to be part of the recovery this time.
Alpharetta – Roswell – Johns Creek – Milton
These North Fulton markets are generally holding value. Johns Creek is off a bit compared to the others; this can be any number of reasons given the comprehensive data pull, but one of which is the big drop in number of sales.
The number of listings is down in every market due directly to concerns about Corona Virus.
This is an attention getter, a significant drop in the number of closings between 5/19 and 5/20.
All cities saw a drop in supply. Alpharetta, Roswell and Johns Creek slightly favor sellers while Milton is considered largely balanced.
Marietta – Kennesaw – Woodstock – Canton
These markets have strong first time and first move up buyer appeal. Woodstock sagged a bit but the other markets are showing stability.
The Corona Virus impact is evident as three of four markets decrease in inventory. Woodstock bucks the trend with an increase.
All markets saw a drop in closed sales, the drop in Marietta is an astonishing 50%. Sales in these markets will likely be impacted by the shut down.
Each of these markets is balanced to slightly favoring sellers. Canton tightened a bit and Kennesaw is most favorable for sellers.
Through May 2020, these north Atlanta real estate markets have been resilient. The impact from the lose of jobs, the protests and the distinct possibility of a second round of Covid-19 looms large and that other shoe is waiting to drop. Oh yeah, there’s also an election this fall. However this situation is different than a decade ago, real estate is not the cause of the problem and will likely be one of the industries instrumental in getting the economy on track again. The charts above are general in nature and should be considered as such. We can dive deep on any area for any price point, let us know your questions.