Average sales price declines in many luxury markets

The average sales price for single family detached homes sold in Cobb, DeKalb, Forsyth, Fulton and Gwinnett counties in November was $326,621, or an increase of 4% from November 2016, and a 2% increase of the total number of homes sold. The month’s supply of inventory for Metro Atlanta in November increased to four months*.

As I’ve said throughout the year, the intown market is diverse. The decline in average sales price in the luxury market is really showing up in the overall decline in ASP in the area covered in the Hatch Neighborhood Report. The overall decline in ASP for November is 3% from November 2016, and the number of sales through November 2017 is 2% less than November 2016.

There remains growth in neighborhoods in the Morris Brandon elementary school district and in the Norton Park elementary school district in Smyrna. Check out how specific neighborhoods are performing by downloading this issue.

Don’t see your neighborhood listed in The Hatch Neighborhood Report? Comment below and I’ll start tracking the numbers for you!

* 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.