LUXURY MARKET UPDATE JANUARY - MAY 2020
LUXURY MARKET UPDATE METRO ATLANTA | JANUARY - MAY 2020
ALL PRICE POINTS AVERAGE NUMBER OF HOMES FOR SALE Looking at January to May 2020 compared to the same period in 2019 there are some differences to how the over $1M housing market has performed relative to the total metro market. In Metro Atlanta, homes in the $1M-$2.5M price bracket experienced lower levels of activity than 2019. In the metrics of the number of new listings and total homes sold, this price point performed better than the market-wide benchmarks. For homes over $2.5M the inventory levels remained similar to that of 2019, with the total number of new listings entering the market only seeing a 2% decline on 2019. Total homes sold over the period did decline 21% from 2019 which resulted in inventory increases and homes remaining on the market longer. All price points saw improvement in May with substantial increases in New Listings and Pending Sales.
TOTAL NEW LISTINGS JANUARY - MAY
13473 36404 16%
10%
ON 2019
ON 2019
TOTAL HOMES SOLD JANUARY - MAY
AVERAGE DAYS ON MARKET
22891 49 10%
4%
ON 2019
AVERAGE SOLD PRICE
$353k 4%
ON 2019
ON 2019
MONTHS OF INVENTORY
3
3%
ON 2019
Source: TrendGraphix. Core Counties combined - Cherokee, Cobb, DeKalb, Forsyth, Fulton, Gwinnett, all residential, all prices, stated period versus same period prior year.
LUXURY MARKET UPDATE METRO ATLANTA | JANUARY - MAY 2020
$1M - $2.5M AVERAGE NUMBER OF HOMES FOR SALE
938
TOTAL NEW LISTINGS JANUARY - MAY
464 7ON%2019 AVERAGE SOLD PRICE
AVERAGE NUMBER OF HOMES FOR SALE
1482
191
10 % ON 2019
12 % ON 2019 TOTAL HOMES SOLD JANUARY - MAY
$2.5M+
AVERAGE DAYS ON MARKET
2ON%2019 TOTAL HOMES SOLD JANUARY - MAY
81
33
SAME AS 2019 MONTHS OF INVENTORY
21 % ON 2019 AVERAGE SOLD PRICE
$1.35M 10 3ON%2019
TOTAL NEW LISTINGS JANUARY - MAY
197 2ON%2019 AVERAGE DAYS ON MARKET
111 35 % ON 2019 MONTHS OF INVENTORY
$3.8M 36 15 % ON 2019
$1M-$2.5M: experienced lower levels of activity than 2019. However, new listings and total homes sold, this price point performed better than the market-wide benchmarks. $2.5M: inventory levels remained similar to that of 2019, with the total number of new listings entering the market only seeing a 2% decline on 2019. Source: TrendGraphix. Core Counties combined - Cherokee, Cobb, DeKalb, Forsyth, Fulton, Gwinnett, all residential, $1M - $2.5M and $2.5M and above, stated period versus same period prior year.
6ON%2019
48 % ON 2019
LUXURY MARKET UPDATE BUCKHEAD | JANUARY - MAY 2020
$1M - $2.5M AVERAGE NUMBER OF HOMES FOR SALE
200
TOTAL NEW LISTINGS JANUARY - MAY
369 11 % ON 2019
16 % ON 2019 TOTAL HOMES SOLD JANUARY - MAY
135
AVERAGE DAYS ON MARKET
74
6ON%2019 AVERAGE SOLD PRICE
$2.5M+
2ON%2019 MONTHS OF INVENTORY
$1.41M 8 7ON%2019
AVERAGE NUMBER OF HOMES FOR SALE
90 7ON%2019 TOTAL HOMES SOLD JANUARY - MAY
22
TOTAL NEW LISTINGS JANUARY - MAY
104 1ON%2019 AVERAGE DAYS ON MARKET
152 27 % ON 2019
AVERAGE SOLD PRICE
112 % ON 2019 MONTHS OF INVENTORY
$4.38M 25 21 % ON 2019
26 % ON 2019
$1M-$2.5M: performance in Buckhead very much aligned to the broader market. Sharper declines in listings than sales saw inventory levels decline. $2.5M+: home sales declined heavily in the months of April and May resulting in a spike in inventory and average days on market.
Source: TrendGraphix. FMLS area 21 and 22, all residential, $1M - $2.5M and $2.5M and above, stated period versus same period prior year.
2ON%2019
LUXURY MARKET UPDATE
DUNWOODY & SANDY SPRINGS | JANUARY - MAY 2020
$1M - $2.5M AVERAGE NUMBER OF HOMES FOR SALE
110
TOTAL NEW LISTINGS JANUARY - MAY
167
55
AVERAGE DAYS ON MARKET
82 27 % ON 2019
AVERAGE SOLD PRICE
9ON%2019 MONTHS OF INVENTORY
$1.47M 10 6ON%2019
AVERAGE NUMBER OF HOMES FOR SALE
34
17 % ON 2019
11 % ON 2019 TOTAL HOMES SOLD JANUARY - MAY
$2.5M+
12 % ON 2019 TOTAL HOMES SOLD JANUARY - MAY
7
TOTAL NEW LISTINGS JANUARY - MAY
35 SAME AS 2019 AVERAGE DAYS ON MARKET
53 40 % ON 2019
AVERAGE SOLD PRICE
35 % ON 2019 MONTHS OF INVENTORY
$2.91M 24 9ON%2019
21 % ON 2019
$1M-$2.5M: total homes sold in this price bracket declined 27% from 2019, a much greater decline than the metro market (-7%). May saw an improvement with the number of new listings and pending sales both exceeding 2019 levels. $2.5M+: the upper end saw activity remain strong with the same number of new listings coming on the market as 2019. Homes sales increasing 40%, from 5 homes in 2019 to 7 homes sold in 2020. Source: TrendGraphix. FMLS areas 121, 131, and 132, all residential, $1M - $2.5M and $2.5M and above, stated period versus same period prior year.
11 % ON 2019
LUXURY MARKET UPDATE EAST COBB | JANUARY - MAY 2020
$1M - $2.5M AVERAGE NUMBER OF HOMES FOR SALE
68
TOTAL NEW LISTINGS JANUARY - MAY
28
36 % ON 2019 AVERAGE DAYS ON MARKET
103
40 % ON 2019 AVERAGE SOLD PRICE
TOTAL NEW LISTINGS JANUARY - MAY
5 81 % ON 2019
TOTAL HOMES SOLD JANUARY - MAY
0
25 % ON 2019 AVERAGE DAYS ON MARKET
NA
2ON%2019 MONTHS OF INVENTORY
AVERAGE SOLD PRICE
NA
$1.25M 15 4ON%2019
AVERAGE NUMBER OF HOMES FOR SALE
6
75
14 % ON 2019 TOTAL HOMES SOLD JANUARY - MAY
$2.5M+
39 % ON 2019
$1M-$2.5M: total homes sold bucked the market-wide trend, seeing a 40% increase on 2019. At the same time the decline in new listings decreased inventory. $2.5M+: With no sales during the period, coupled a small increase in new listings, the number of homes for sale increased almost 100% on last year.
Source: TrendGraphix. FMLS areas 82 and 83, all residential, $1M - $2.5M and $2.5M and above, stated period versus same period prior year.
MONTHS OF INVENTORY
6 81 % ON 2019
LUXURY MARKET UPDATE INTOWN | JANUARY - MAY 2020
$1M - $2.5M AVERAGE NUMBER OF HOMES FOR SALE
102
TOTAL NEW LISTINGS JANUARY - MAY
224
63
AVERAGE DAYS ON MARKET
60
15 % ON 2019 AVERAGE SOLD PRICE
13 % ON 2019 MONTHS OF INVENTORY
$1.45M 9 5ON%2019
AVERAGE NUMBER OF HOMES FOR SALE
10
10 % ON 2019
1ON%2019 TOTAL HOMES SOLD JANUARY - MAY
$2.5M+ TOTAL NEW LISTINGS JANUARY - MAY
9 2ON%2019
TOTAL HOMES SOLD JANUARY - MAY
2
29 % ON 2019 AVERAGE DAYS ON MARKET
81 100 % ON 2019
AVERAGE SOLD PRICE
34 % ON 2019 MONTHS OF INVENTORY
$3.6M 10 19 % ON 2019
42 % ON 2019
$1M-$2.5M: the number of homes for sale was equal to 2019 and new listings increased by 10%. While the number of homes sold declined over the period, pended sales in May returned to 2019 levels. $2.5M+: limited volume of activity in this price range, but closed sales at the high end did push the average price higher.
Source: TrendGraphix. FMLS areas 82 and 83, all residential, $1M - $2.5M and $2.5M and above, stated period versus same period prior year.
2ON%2019
LUXURY MARKET UPDATE NORTH FULTON | JANUARY - MAY 2020
$1M - $2.5M AVERAGE NUMBER OF HOMES FOR SALE
169
TOTAL NEW LISTINGS JANUARY - MAY
220
63
AVERAGE DAYS ON MARKET
114
3ON%2019 AVERAGE SOLD PRICE
5ON%2019 MONTHS OF INVENTORY
$1.26M 14 5ON%2019
AVERAGE NUMBER OF HOMES FOR SALE
22
16 % ON 2019
15 % ON 2019 TOTAL HOMES SOLD JANUARY - MAY
$2.5M+ TOTAL NEW LISTINGS JANUARY - MAY
22
9ON%2019 TOTAL HOMES SOLD JANUARY - MAY
1
5ON%2019 AVERAGE DAYS ON MARKET
77 75 % ON 2019
AVERAGE SOLD PRICE
36 % ON 2019 MONTHS OF INVENTORY
$2.83M 22 29 % ON 2019
23 % ON 2019
$1M-$2.5M: total number of homes sold only decreased 3% on 2019, with limited new listings creating limited inventory. Pending sales in May have returned to higher levels than 2019. $2.5M+: limited sales activity, but new listings and pending sales are at the similar levels as 2019.
Source: TrendGraphix. FMLS areas 13 and 14, all residential, $1M - $2.5M and $2.5M and above, stated period versus same period prior year.
9ON%2019