Posts Tagged real estate market
I’d love to hear from you if you’d like to discuss a marketing plan for your home or if you have any questions about homes on the market.
Now excuse me while I finish up the paperwork on all of these properties!
October real estate transaction volume is down in Vinings and Bulkhead, but not as severely as it was in September and August which was dramatically down month over month and year over year.
Vinings numbers are somewhat misleading as the transaction volume has been so low that percentages don’t seem relevant. The most notable thing to me was that the average sales price was under $800k, which says the main things selling are pretty close to lot prices, not so much resales.
In Buckhead, sales were down 14% year over year and 8% month over month. Buckhead is a much bigger market, so its most likely a seasonal dip in sales and a lack of inventory in the year over year sales.
Here is a video from Berkshire Hathaway with some interesting stats about the current real estate market in Buckhead. The market is down again this past month more than it was the previous month. I’m not sure if this is seasonal or just a mismatch of inventory to buyers. If you’ll notice, the average sales price is around $600k and the average listing price is $1.2M.
Here is the real estate market update for April. These stats are very general by area. Various price points are moving much faster than others. In Vinings, the over $2M price point had about a 4 year inventory in January, and while it is finally moving, it’s still at about a 2 year inventory level. Because of this, I see those prices continuing to drop, while the lower price points are holding steadier now.
This link will take you to the Vinings Market Update, but you can browse areas throughout Atlanta and the state of Georgia here. As always, if you have any questions about this update or anything real estate related, please contact me.
Click the video below for the latest real estate market upate for the Vinings area. You may also view additional video reports for many of our local markets. I’ve included links directly to the Buckhead update as well as the Smyrna update.
Please contact me with any questions regarding your real estate needs. As part of Berkshire Hathaway Home Services, I have access to proprietary information resources that are not available to the public and can help you understand the real facts in your area.
Better information leads to better decisions!
Knowing what is going on in the real estate market is just as important when selling your home as it is when you are buying. One of the great features that has come with joining Prudential is a monthly market update that is quick and concise. Below, I’ve included links to the Buckhead and Vinings September updates.
What you’ll notice in the Buckhead data is the dramatic fall off of sales in August. Normally, I would think this drop is related to back to school, but this year the decrease was more dramatic than in years past.
Vinings was more stable from July to August. I believe the uptick in sales prices is related to the Jumbo rates being lower than conventional financing right now. In both markets you’ll see that inventory is down dramatically.
If you are interested, I’m happy to pull YTD data for you as well. As always, if you’re thinking about selling, give me a call so I can help you analyze the value of your home.