Luxury Market Insights_Jan-May 2020

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