Finally! More supply on the market for some buyers, and top-performing neighborhoods

September housing data brings good news for some buyers in the Atlanta metro area, and monthly data indicates we will end with strong sales numbers. 

For a few years I’ve been reporting on the serious lack of housing inventory for single-family homes priced below $500,000. Now, though, buyers at this price point are seeing more homes on the market this September than last year. In fact,  the number of new listings of single-family homes priced below $500,000 is up 7% from September 2018. 

For homes priced between $500,000 – $749,999, the number of new listings was up 14% for September 2019 vs. September 2018. 

If you’re a would-be seller at these price points, the increased competition might mean your house will be on the market a little longer than expected. However, there are plenty of buyers in the market now because mortgage rates are very low. 

Buyers looking for a home priced above $750,000 are seeing less supply this fall. The number of new listings is down 18% for Sept ’19 vs. Sept ’18, which means buying this fall could be a bit more challenging. 

Conversely, if you are thinking of selling your luxury home this fall, you are facing less competition than last year. Could be a great time to jump into the market!

Top-performing neighborhoods

Now that we have three quarters of market data to dive in to, top-performing neighborhoods are emerging for the year. If you’re curious how your neighborhood is performing, download the entire Hatch Neighborhood Report.

• Morris Brandon Elementary (30318) – Sales volume is up 44% year-over-year, and average sales price is up 6%
• Rivers Elementary (30305) – Sales volume is up 8% year-over-year, and average sales price is up 7%
• Morningside Elementary (30306) – Sales volume is up 21% year-over-year, and average sales price is up 5%, lots of new construction over here

Here is the market activity for single-family detached homes in the area covered in Hatch Neighborhood Report for 1/1-9/30/19 vs. 1/1-9/30/18^*:

• Sales volume is up 2% year-over-year, from 2605 in 2018 to 2653 in 2019
• Average sales price is up 5%—from $727,819 to $760,910
• Median sales price is up 3% year-over-year, from $583,000 to $601,000; 

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

• Sales volume is up 1% year-over-year, from 35,441 to 35,664
• Average sales price is up 4%, from $353,694 to $368,801
• Median sales price is up 4%, from $289,000 to $300,000

Curious how your neighborhood is performing? Download this issue.

If you would like me to track your neighborhood, reach out and let me know!

Best,

Michelle

More Market Stats: September 2019 vs. September 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.