YEAR TO DATE MARKET UPDATE JANUARY - APRIL 2020
YEAR TO DATE MARKET UPDATE METRO ATLANTA | JANUARY - APRIL 2020
AVERAGE NUMBER OF HOMES FOR SALE
The Metro Atlanta market started the year strong and is performing at a better rate than many other markets across the nation. While the amount of new listing activity has been impacted by Covid-19 precautions, the reopening of markets is seeing a return of both buyers and sellers, and there are many indications that the Atlanta market will see a robust recovery. Year to date (Jan-Apr) total homes sold is only 1% lower than the same period in 2019. But with pended sales down 14% year over year, we still have a way to go to achieve recovery. Housing inventory continues to be tight with current inventory at three months. The Metro Atlanta average sold price has continued to increase each month of 2020 and is now 5% higher than the same period last year.
TOTAL NEW LISTINGS JANUARY - APRIL
13393 27660 8%
ON 2019
TOTAL HOMES SOLD JANUARY - APRIL
17%
ON 2019
AVERAGE DAYS ON MARKET
18371 51 1%
ON 2019
AVERAGE SOLD PRICE
$352k 5% ON 2019
5%
ON 2019
MONTHS OF INVENTORY
3.0
9%
ON 2019
Source: TrendGraphix. Core Counties combined - Cherokee, Cobb, DeKalb, Forsyth, Fulton, Gwinnett, all residential, all prices, stated period versus same period prior year.
SERVICES
YEAR TO DATE MARKET UPDATE BUCKHEAD | JANUARY - APRIL 2020
AVERAGE NUMBER OF HOMES FOR SALE
Both the average number of homes for sale, and the number of homes sold, have increased from the same period in 2019. Year to date 2020 there has been an increase in average days on market, however in the month of April homes sold faster than any other month this year with an average of 49 days on market. With an average sold price slightly higher than same time last year, there continues to be a market for well-priced homes.
1256 6%
ON 2019
TOTAL HOMES SOLD JANUARY - APRIL
TOTAL NEW LISTINGS JANUARY - APRIL
2072 13% ON 2019
AVERAGE DAYS ON MARKET
1095 60 2%
ON 2019
AVERAGE SOLD PRICE
$529k 1% ON 2019
22% ON 2019
MONTHS OF INVENTORY
4.6
2%
ON 2019
Source: TrendGraphix. Core Counties combined - Cherokee, Cobb, DeKalb, Forsyth, Fulton, Gwinnett, all residential, all prices, stated period versus same period prior year. FMLS areas 21 & 22, all residential, all prices, stated period versus same period prior year.
SERVICES
YEAR TO DATE MARKET UPDATE BUCKHEAD LUXURY | JANUARY - APRIL 2020
Total sales of homes over $1million in Buckhead in the January to April period are equal with 2019. Inventory continues to decline in this market with Jan to April seeing a 9% decline in the average number of homes for sale. Both the months of inventory and average days on market declined compared to 2019 and in the month of April average days on market dropped to 61 days, 23% lower than April 2019. As buyers return to the market well-priced homes will continue to attract buyers.
AVERAGE NUMBER OF HOMES FOR SALE
TOTAL NEW LISTINGS JANUARY - APRIL
284
364
9%
ON 2019
TOTAL HOMES SOLD JANUARY - APRIL
128 SAME AS 2019
11%
ON 2019
AVERAGE DAYS ON MARKET
77
5%
ON 2019
AVERAGE SOLD PRICE
$1,714k 7% ON 2019
MONTHS OF INVENTORY
9.2
19% ON 2019
Source: TrendGraphix. Core Counties combined - Cherokee, Cobb, DeKalb, Forsyth, Fulton, Gwinnett, all residential, all prices, stated period versus same period prior year. FMLS area 21, all residential, $1 million and above, stated period versus same period prior year.
SERVICES
YEAR TO DATE MARKET UPDATE CHEROKEE WOODSTOCK | JANUARY - APRIL 2020
AVERAGE NUMBER OF HOMES FOR SALE
The number of homes for sale is just marginally lower than the same period in 2019. Although the number of homes sold has declined as a result of the pandemic, the months of inventory remains low at only 2.9 months. This inventory shortage is helping to drive up the average sold price by 6% year to date and is helping homes to sell faster. In April the average days on market was just 41, the lowest it’s been in 2020.
869 3%
ON 2019
TOTAL HOMES SOLD JANUARY - APRIL
TOTAL NEW LISTINGS JANUARY - APRIL
1826 11%
ON 2019
AVERAGE DAYS ON MARKET
1250 51 6%
ON 2019
AVERAGE SOLD PRICE
$328k 6% ON 2019
5%
ON 2019
MONTHS OF INVENTORY
2.9
2%
ON 2019
Source: TrendGraphix. Core Counties combined - Cherokee, Cobb, DeKalb, Forsyth, Fulton, Gwinnett, all residential, all prices, stated period versus same period prior year. FMLS areas 112, 113 & 114, all residential, all prices, stated period versus same period prior year.
SERVICES
YEAR TO DATE MARKET UPDATE EAST COBB | JANUARY - APRIL 2020
AVERAGE NUMBER OF HOMES FOR SALE
The number of homes for sale has declined 15%, the number of homes sold has not declined at the same rate with a 12% decline. East Cobb entered 2020 with a low supply of housing, the effects are evident in the increase of average sold prices of 8%. And homes are selling fast. The first four months delivered an average days on market of 47 days, however in April, this dropped to on 33 days. On average, homes in April 2020 sold 28% faster than April 2019.
485
15% ON 2019
TOTAL HOMES SOLD JANUARY - APRIL
654
12% ON 2019
AVERAGE SOLD PRICE
$431k 8% ON 2019
TOTAL NEW LISTINGS JANUARY - APRIL
1034 24% ON 2019
AVERAGE DAYS ON MARKET
47
4%
ON 2019
MONTHS OF INVENTORY
3.0
7%
ON 2019
Source: TrendGraphix. Core Counties combined - Cherokee, Cobb, DeKalb, Forsyth, Fulton, Gwinnett, all residential, all prices, stated period versus same period prior year. FMLS areas 82 and 83, all residential, all prices, stated period versus same period prior year.
SERVICES
YEAR TO DATE MARKET UPDATE FORSYTH | JANUARY - APRIL 2020
AVERAGE NUMBER OF HOMES FOR SALE
Forsyth commenced 2020 with an inventory shortage. In addition, in the first four months of the year the number of homes for sale declined 27%, while total homes sold sales declined only 4%. Average inventory for the year is at 2.9 months and April as low as 2.8 month. In Jan to April 2020 homes sold on average 8% faster than in 2019, and in April 2020 that reached a low of only 38 days on market average, compared to 50 days in April 2019. Prices so far have remained consistent with 2019, but housing shortages will apply upward pressure if buyers return faster than sellers.
584
27% ON 2019
TOTAL NEW LISTINGS JANUARY - APRIL
1168
32% ON 2019
TOTAL HOMES SOLD JANUARY - APRIL
AVERAGE DAYS ON MARKET
829
58
4%
ON 2019
AVERAGE SOLD PRICE
$414k SAME AS 2019
8%
ON 2019
MONTHS OF INVENTORY
2.9
25% ON 2019
Source: TrendGraphix. Core Counties combined - Cherokee, Cobb, DeKalb, Forsyth, Fulton, Gwinnett, all residential, all prices, stated period versus same period prior year. FMLS areas 221 and 222, all residential, all prices, stated period versus same period prior year.
SERVICES
YEAR TO DATE MARKET UPDATE GWINNETT | JANUARY - APRIL 2020
AVERAGE NUMBER OF HOMES FOR SALE
Buyers have been active in the first four months of the year with total sales increasing 2% on 2019.
1388 12% ON 2019
At the same time the number of homes for sale has declined 12% from last year putting extra pressure on already low inventory levels. Across January to April inventory was 18% lower than the same time last year when it was already low.
TOTAL HOMES SOLD JANUARY - APRIL
These movements have resulted in a 6% increase in the average sold price so far this year, and average days on market dipping to 39 days in April 2020, 10% lower than the same month last year.
2113 2%
TOTAL NEW LISTINGS JANUARY - APRIL
3027 11%
ON 2019
AVERAGE DAYS ON MARKET
52 SAME AS 2019
ON 2019
AVERAGE SOLD PRICE
$322k 6% ON 2019
MONTHS OF INVENTORY
2.7
18% ON 2019
Source: TrendGraphix. Core Counties combined - Cherokee, Cobb, DeKalb, Forsyth, Fulton, Gwinnett, all residential, all prices, stated period versus same period prior year. FMLS areas 61, 62, and 63, all residential, all prices, stated period versus same period prior year.
SERVICES
YEAR TO DATE MARKET UPDATE INTOWN | JANUARY - APRIL 2020
AVERAGE NUMBER OF HOMES FOR SALE
Sellers in the Intown areas have maintained the momentum of a strong start to 2020 with the average number of homes for sale January to April declining only 1% on 2019. Although inventory is not as tight as some other areas of Atlanta, it remains low at only 3.6 months, a 3% decrease on 2019. The average sold price continues to grow higher than 2019, and at the same time increasing each month so far in 2020. January to April this was 6% higher than in 2019, and in the month of April it reached an average 9% higher than April 2019.
706 1%
ON 2019
TOTAL NEW LISTINGS JANUARY - APRIL
1439 14% ON 2019
TOTAL HOMES SOLD JANUARY - APRIL
AVERAGE DAYS ON MARKET
831
52
1%
ON 2019
AVERAGE SOLD PRICE
$487k 6% ON 2019
24% ON 2019
MONTHS OF INVENTORY
3.6
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. FMLS areas 23 and 24, all residential, all prices, stated period versus same period prior year.
SERVICES
YEAR TO DATE MARKET UPDATE NORTH FULTON | JANUARY - APRIL 2020
AVERAGE NUMBER OF HOMES FOR SALE
In January to April 2020 buying activity in North Fulton maintained. While total homes for sale dropped 20%, total homes sold only declined 3% on the same period last year. With less homes being listed inventory has experienced a 20% decline, with the average now of 3.5 months. The result of this has been homes are selling faster and for more. The average days on market for the period dropped 11%, and in the month of April reduced to 39 days, and the average sold price increased 3%.
1143
20% ON 2019
TOTAL HOMES SOLD JANUARY - APRIL
1341 3%
ON 2019
AVERAGE SOLD PRICE
$480k 3% ON 2019
TOTAL NEW LISTINGS JANUARY - APRIL
2134
24% ON 2019
AVERAGE DAYS ON MARKET
55
11%
ON 2019
MONTHS OF INVENTORY
3.5
20% ON 2019
Source: TrendGraphix. Core Counties combined - Cherokee, Cobb, DeKalb, Forsyth, Fulton, Gwinnett, all residential, all prices, stated period versus same period prior year. FMLS areas 13 and 14, all residential, all prices, stated period versus same period prior year.
SERVICES
YEAR TO DATE MARKET UPDATE
SANDY SPRINGS DUNWOODY | JANUARY - APRIL 2020
Listing activity January to April 2020 was slower than 2019, however the number of homes for sale has been growing each month of 2020. Average homes for sale for the first four months is 11% lower than same time in 2019.
AVERAGE NUMBER OF HOMES FOR SALE
TOTAL NEW LISTINGS JANUARY - APRIL
623
1121
11%
ON 2019
New listings growing slower than sales is impacting market inventory which has declined 7% from the same time in 2019.
TOTAL HOMES SOLD JANUARY - APRIL
These shifts have lifted the average sold price by 4% in the first 4 months of 2020, and in April the average sold price was 11% higher than April 2019.
720 6%
ON 2019
AVERAGE SOLD PRICE
$508k 4% ON 2019
25% ON 2019
AVERAGE DAYS ON MARKET
55
13% ON 2019
MONTHS OF INVENTORY
3.5
7%
ON 2019
Source: TrendGraphix. Core Counties combined - Cherokee, Cobb, DeKalb, Forsyth, Fulton, Gwinnett, all residential, all prices, stated period versus same period prior year. FMLS areas 121, 131, and 132, all residential, all prices, stated period versus same period prior year.
SERVICES
YEAR TO DATE MARKET UPDATE WEST COBB | JANUARY - APRIL 2020
AVERAGE NUMBER OF HOMES FOR SALE
Buying activity in West Cobb maintained over the period January to April 2020 with the number of homes sold equal to 2019. At the same time the number of new listings declined 16% creating pressure on market inventory. Average inventory dropped as low as 2.1 months in February and March and across all four months is sitting at 2.4 months, a 9% decline on 2019. This buying activity combined with reduced listings is putting upward pressure on prices with the average sold price increasing 5% year over year.
1274 7%
ON 2019
TOTAL HOMES SOLD JANUARY - APRIL
2151 SAME AS 2019
TOTAL NEW LISTINGS JANUARY - APRIL
3029 16% ON 2019
AVERAGE DAYS ON MARKET
47
5%
ON 2019
AVERAGE SOLD PRICE
$313k 5% ON 2019
MONTHS OF INVENTORY
2.4
9%
ON 2019
Source: TrendGraphix. Core Counties combined - Cherokee, Cobb, DeKalb, Forsyth, Fulton, Gwinnett, all residential, all prices, stated period versus same period prior year. FMLS areas 71, 72, 73, and 74, all residential, all prices, stated period versus same period prior year.
SERVICES
YEAR TO DATE MARKET UPDATE FAYETTE | JANUARY - APRIL 2020
The average number of homes for sale January to April 2020 declined 11% compared to the same period in 2019. At the same time the total number of homes sold declined
AVERAGE NUMBER OF HOMES FOR SALE
TOTAL NEW LISTINGS JANUARY - APRIL
415
886
11%
ON 2019
6%
ON 2019
only 3% on last year. These movements are impacting inventory levels which dropped 14% to 3.5 months. This solid buyer demand coupled with low inventory has put upward pressure on price resulting in an 11% increase in the average sold price.
TOTAL HOMES SOLD JANUARY - APRIL
490 3%
ON 2019
AVERAGE SOLD PRICE
$377k 11% ON 2019
AVERAGE DAYS ON MARKET
53
1%
ON 2019
MONTHS OF INVENTORY
3.5
14% ON 2019
Source: TrendGraphix. Core Counties combined - Cherokee, Cobb, DeKalb, Forsyth, Fulton, Gwinnett, all residential, all prices, stated period versus same period prior year. MLS areas 171, all residential, all prices, stated period versus same period prior year.
SERVICES