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Buckhead (30327) real estate market update: June 2012
Posted by thunsicker in Buckhead, Data and Statistics, State of Real Estate Market on July 25, 2012
The market trend is continuing that we see in the Vinings market into the Buckhead real estate market as well. Decreasing inventory and rising sales with the average selling price going up!
Within the $200,000 to $650,000 price point, sales have been steadily increasing and we’re in multiple offer situations quite frequently. Inventory is trending downward again with sales continuing up. Good news for all!
The stats are slightly improved in 30327 from $400,000 and up and it looks like inventory and sales increased slightly. Year over year numbers show improvements, but I think this could vary with an analysis of a tighter price point.
Finally I had a fellow agent say to me the other day that she thought luxury sales were up. I think we’re seeing things under $2,000,000 continue to sell well, but over $2M it still remains soft. Inventory remains high and prices continue to soften within the luxury market. Of course, this pie can be sliced in various ways, but I just wanted to pull data a few different ways to see if what I feel in the market is what is happening statistically. If you’d like me to pull some data specific to your price point and area, just email me and I’ll do a custom report for you.
Number of Homes For Sale vs. Sold (Apr. 2011 – Jun. 2012)
Buckhead/Atlanta – 30327
Price Point – $200,000 to $650,000
Number of Homes For Sale vs. Sold (Apr. 2011 – Jun. 2012)
Buckhead/Atlanta – 30327
Price Point – $400,000 and up
Number of Homes For Sale vs. Sold (Apr. 2011 – Jun. 2012)
Buckhead/Atlanta – 30327
Price Point – $2,000,000 and up
Buckhead (30327) real estate market update: February 2012
Posted by thunsicker in Buckhead, Data and Statistics, State of Real Estate Market on February 16, 2012
The market trend is continuing that we see in the Vinings market into the Buckhead real estate market as well.
Decreasing inventory, average selling price is going up which is good considering the inventory is priced higher than what the buyers are looking for.
We remain steady at a year of inventory in Buckhead. If this trend continues we’ll be approaching a change in the dynamics of the market.
I had a conversation with an appraiser yesterday to figure out how we’re going to bridge the gap at what buyers perceive the value at and what the appraisers will appraise for. His comment is that the homeowners are going to need to take the risk to purchase over appraised value as the banks will not.
So the only way to reverse this trend is for cash buyers to put more cash into the transaction. We’ll see how this plays out over the next several months.
I’m a half full kind of person, so I hope this positive trend continues despite the national news!
Number of Homes For Sale vs. Sold (Nov. 2010 – Jan. 2012)
Buckhead/Atlanta – 30327
Average Price of For Sale and Sold (Nov. 2010 – Jan. 2012)
Buckhead/Atlanta – 30327
Months of Inventory Based on Closed Sales (Nov. 2010 – Jan. 2012)
Buckhead/Atlanta – 30327
2011 real estate trends in Buckhead’s zip code 30327
Posted by thunsicker in Buckhead, Data and Statistics, Preparing Your Home For Sale, State of Real Estate Market on January 25, 2012
In compiling statistics for Buckhead’s most elite zip code, 30327, it is harder to elaborate on each house sold since the volume is so much higher. I have a few comments here and then charts below with more information about real estate trends in Buckhead during 2011.
- First and foremost as I’ve mentioned before, inventory continues to decrease in Buckhead.
- Even though prices are still soft, but not declining further, it looks like we are headed into a much more stable market as inventory levels are under 12 months.
- The trend is decreasing for foreclosures and we’re seeing less and less of them.
- The other interesting thing to note is that where the average price point is for homes that are for sale is almost double where the average price point for what is selling; that tells us something too.
The product on the market is priced higher than where the buyers are.
With mortgage rates under 4%, around 3.75% right now, people can trade up in their homes if their current house will sell. The problem is that if they sell their current houses at where the market demands they are losing equity and don’t have the 20% to put down on the next house and most Jumbo mortgages are still requiring 20% down.
The exception to that scenario is for doctors. I’ve sold quite a few properties to doctors this year and they can still get 95% loans with certain conditions. So if you’re reading this and you are a doctor, it is the perfect time to buy!
For the Atlanta real estate market to turn into a sellers market we’d have to get inventory levels to about 6 months. However, at various price levels I’m receiving emails daily asking if I have anything coming on the market that isn’t on yet. These inquiries tell me that there’s pent up demand and good homes that are priced to the current market will sell pretty quickly.
I’m glad to pull specific neighborhoods, streets, price points, etc. for you to look at homes that are listed for sale in the Buckhead market (or anywhere in Atlanta!) if you’re interested.
I know most of us don’t like what our houses are worth today and if you’re still wondering, I can run a Case Shiller index for you, pull neighborhood comps etc. It’s usually not as bleak as Zillow suggests!
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Real Vinings | Buckhead 