Yes, it’s a seller’s market, but it depends where you live in Atlanta

I’m going to take a different angle with The Hatch Neighborhood Report this month. “Why?” you ask,  because for the last few years, practically every article written, posted, and talked about the housing market says “it’s a seller’s market,” but the Atlanta housing market is not one-size-fits-all. In fact, it is very different even between neighborhoods.

A popular metric to determine if a particular real estate market is favoring buyers or sellers is “Months’ Supply of Housing Inventory.” The months’ supply of inventory is the measure of how many months it would take for the current inventory of homes on the market to sell, given the current pace of home sales. For example, if there are 10 homes on the market and 5 homes selling each month, there is a 2-month supply of homes for sale. The National Association of Realtors defines a balanced market at 6-months’ supply.

Take a look at the charts below. Generally speaking, if you live in a neighborhood covered in The Hatch Neighborhood Report, your neighborhood is in a “seller’s market” if the average sales price in your area is below $1 million. BUT, if you live in Marietta, your neighborhood is in a “buyer’s market” if the average sales price is $750,000 and above.

If you live in the Margaret Mitchell neighborhood in the Morris Brandon elementary school district, you’re still in a seller’s market, but it will take you slightly longer to sell your house than if you lived a few blocks west in Ridgewood Heights.

Check out how specific neighborhoods are performing by downloading this issue, and if you’re wondering how quickly your house will sell in today’s market, give me a call at (404) 219-5968, or shoot me an email.

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

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.