Over half of the neighborhoods covered in The Hatch Neighborhood Report close the year out with an increase in average sales price and sales over 2016.
Congrats to neighborhoods in the Morris Brandon elementary school district, the Bolton elementary school district Morningside and the Norton Park elementary school district in Smyrna. You all ended 2017 with double-digit growth in ASP.
The markets showing negative growth are mostly priced above $750,000. That market has been steadily softening throughout 2017.
At the end of 2017, inventory provided just a two month’s supply.*
Check out how specific neighborhoods are performing by downloading this issue.
For Cobb, DeKalb, Forsyth, Fulton and Gwinnett counties, the average sales price for single family detached homes sold in 2017 was $326,746, or an increase of 4% 2017, and a 2% increase of the total number of homes sold. The month’s supply of inventory for Metro Atlanta decreased to three months.
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* Normal market is considered to be six month’s supply according to the National Association of Realtors.
The Hatch Neighborhood Report compares year-to-date sales data to the previous year to measure the health of the housing market of Buckhead and the surrounding areas, and to compare their sales activity to the metro area as a whole. Reporting sales activity for the year allows us to identify top-performing neighborhoods.