As I reported last week, the intown Atlanta housing market closed out the year in a stronger position than it did in 2017. Of the 25 submarkets I follow in the Hatch Neighborhood Report, nine experienced double-digit growth in average sales price in 2018, and only two submarkets closed the year with negative growth in ASP.

This data can be confusing with all the news of housing markets “softening” around the country. While it is true the housing market is expected to grow at a much slower pace nationwide than before, many people are asking me what to expect of our local housing market in 2019.

The short answer is: only time will tell. I’ll be watching things like sales volume, inventory, prices, and days on market over the next 30 – 90 days to see if the Spring market lags behind 2018.

Here’s where we stand at the end of January 2019 vs. January 2018… if you’re a visual person, scroll down for the graphs:

• Sales Volume: down 19%
• Months of Inventory: up 29%
• Sales Price-to-List Price Ratio: no change
• Average Days on Market: down 9%

This data is mixed, but the slump in sales volume and the spike in inventory could indicate our market is headed for a slow down and shifting more in buyers’ favor. Again, only time will tell.

In my part of town, the Upper Westside, housing development is booming. Builders like Brock Built and Pulte Homes are turning out new properties at a rapid pace. Smaller home builders are flocking to Riverside and other more affordable areas to capitalize on buyer demand. It will be very interesting to see what happens to sales prices in these new construction developments.

If you’re thinking of selling and have questions, let’s talk! I would be happy to share my local market knowledge with you. If you’re curious what your home could be worth, get a free market report here.

Best,

Michelle

P.S. – I know I’ve been blogging a lot with market statistics. I promise to have a fun Westside update for you next week!