Where are the buyers?

That’s what my colleagues and I keep asking. When I look at the data for the area covered by my report for the month of May 2019 vs. May 2018, I see the number of new listings is up, yet number of sales is lagging and inventory is increasing. 

Well, would-be homebuyers, this is good news for you! Our local market is moving towards a more balanced market so don’t be shy about finally making a purchase.

Here is the market activity for single-family detached homes in the area covered in HNR for 1/1-5/31/19 vs. 1/1-5/31/18^*:

• Sales volume is down 5% year-over-year, from 1,250 in 2018 to 1,191 in 2019
• Average sales price is up 8%—from $716,422 to $774,097
• Median sales price is up 5% year-over-year, from $576,500 to $605,000; 

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

• Sales volume is down 2% year-over-year, from 18,281 to 17,949
• Average sales price is up 5%, from $346,979 to $365,427 
• Median sales price is up 5%, from $237,000 to $250,000

Curious how your neighborhood is performing? Download this issue.

If you’re one of those would-be homebuyers, I’d love to know why you’re waiting. Comment below to let me know.

Best,

Michelle

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

*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.