The booming FLAT market

Due to technical difficulties, this report is coming to you late. My apologies!

This spring market is definitely competitive. I’m experiencing bidding wars on both my listings and with my buyers, and properties are taking less time to sell. BUT prices are also down in 40% of the neighborhoods I track in the report, and other data is indicating a more subdued market than we’ve been experiencing. 

Here is the market activity for the 25 submarkets covered in HNR for the first quarter of 2019 vs. the first quarter of 2018*:

  • Sales volume is down 8% year-over-year, from 585 in 2018 to 541 in 2019
  • Average sales price is up 7%—from $710,654 to $760,968—HOWEVER there were many outliers in the luxury market skewing ASP, so take a deeper look in the report
  • Median sales price is up 3%, from $567,500 in Q1 2018 to $586,250 in Q1 2019; Note: we experienced an 8% increase between Q1 2017 vs. Q2 2018

For Cobb, DeKalb, Forsyth, Fulton and Gwinnett counties:

  • Sales volume is down 5% year-over-year, from 9,288 to 8,804
  • Average sales price is up 6%, from $332,211 to $352,812 
  • Median sales price is up 6%, from $270,000 to $285,000

Curious how your neighborhood is performing? Download this issue.

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

More Market Stats: March 2019 vs. March 2018 (for the month only)

Sales Volume down 4%; from 305 to 292
Average Sales Price up 5%; from $736,135 to $775,826
Median Sales Price up 3%; from $585,000 to $603,700
Sales-to-List Price Ratio down 1%; from 98.6% to 98.1%
Number of New Listings down 4%; from 647 to 625
Months of Inventory: 4; no change from 2018
Average Days on Market down 14%; from 50 to 44 days

*The Hatch Neighborhood Report compares year-to-date sales data to the previous year to measure the health of the housing market of Buckhead, the Upper Westside, and the surrounding areas; and compares that sales activity to the metro area as a whole. Reporting sales activity for the year provides a more accurate measure of the health of the housing marketing, and allows us to identify top-performing neighborhoods.