INTOWN at a GLANCE
TABLE OF CONTENTS 2020 at a Glance Winter Home Maintenance Checklist Market Update Healthy Holiday Season 2020 Atlanta Holiday Events Real Estate Buzz Right Time to Buy
2020 HOME PRICE APPRECIATION IS ON THE RISE
RESIDENTIAL MEDIAN SALES PRICE IS INCREASING
Home appreciation source: NAR. Residential Median Sales Price source: GAMLS.
winter
HOME MAINTENANCE CHECKLIST Clean your gutters and your downspouts, and make sure your downspouts have plenty of room to drain.
Check your fireplace and chimney. If you use your fireplace, be sure to have it cleaned and check for any debris and cracks.
Check batteries in smoke and carbon monoxide detectors. These play a crucial role in keeping you safe.
Sources: American Home Shield, FamilyHandyman.com, and Patch.com
Prevent pipes from freezing by insulating pipes near windows/doors and disconnecting your garden hose from the outside faucet.
Switch the direction of your ceiling fan blades to spin clockwise. Run at a low speed to circulate warm air down from the ceiling.
Seal all holes and cracks around the exterior of your home to ensure pests/rodents can’t get inside.
Trim your trees to make sure none of them are hanging over your home. If your tree branches ice over during the winter and become heavy, they could fall on your home.
Protect your pots – your clay and porcelain planters can crack during cold weather.
FULTON COUNTY
MARKET UPDATE AVERAGE FOR SALE PRICE
$724,000 13.7%
FROM 2019
AVERAGE SOLD PRICE
$450,000 7.7%
FROM 2019
UNITS FOR SALE
3,687 22.5%
FROM 2019
UNITS SOLD
16,519 0.7%
FROM 2019
Source: Trendgraphix 2020, Fulton & Dekalb Counties, All Residential, All Price Points
DEKALB COUNTY
MARKET UPDATE AVERAGE FOR SALE PRICE
$621,000 14.4%
AVERAGE SOLD PRICE
$355,000 8.6%
FROM AVERAGE 2019
FOR SALE PRICE
FROM 2019
$465,000
AVERAGE 19.2%SOLD PRICE
FROM 2019
$418,000 7.5%
FROM 2019 UNITS FOR SALE
1,363
UNITS SOLD
9,558 0.3%
FROM 2019
UNITS FOR SALE
40.2%
3,772
FROM 2019
24%
FROM 2019 Harry Norman, REALTORS® The Intown Office proudly serves Fulton County, Dekalb County, and more! Source: Trendgraphix 2020, Specific Areas, All Residential, All Price Points
WISHING YOU A HEALTHY
holiday season
CDC HOLIDAY GUIDELINES
Limit the number of attendees as much as possible and require guests to wear masks. At gatherings that include persons of different households, everyone should always wear a mask that covers both the mouth and nose, except when eating or drinking. It is also important to stay at least 6 feet away from people who are not in your household at all times. Host outdoor rather than indoor gatherings as much as possible. Even outdoors, require guests to wear masks when not eating or drinking. Avoid holding gatherings in crowded, poorly ventilated spaces with persons who are not in your household. Increase ventilation by opening windows and doors to the extent that is safe and feasible based on the weather, or by placing central air and heating on continuous circulation. If setting up outdoor seating under a pop-up open air tent, ensure guests are still seated with physical distancing in mind. Encourage attendees to wash their hands often with soap and water for at least 20 seconds. If soap and water are not readily available, use hand sanitizer that contains at least 60% alcohol. Provide guests information about any COVID-19 safety guidelines and steps that will be in place at the gathering to prevent the spread of the virus. Provide and/or encourage attendees to bring supplies to help everyone to stay healthy. These include extra masks (do not share or swap with others), hand sanitizer that contains at least 60% alcohol, and tissues. Stock bathrooms with enough hand soap and single use towels. Limit contact with commonly touched surfaces or shared items such as serving utensils. Clean and disinfect commonly touched surfaces and any shared items between use when feasible. Use touchless garbage cans if available. Use gloves when removing garbage bags or handling and disposing of trash. Wash hands after removing gloves. Source: https://www.cdc.gov/coronavirus/2019-ncov/daily-life-coping/holidays.html
2020 ATLANTA
The Nutcracker Experience Through December 27
Holiday Events
Miracle at the Fox Marquee Club Through January 1 Celebrate the Holidays at World of Coca-Cola Through January 1 Candy Rush Presented by World of Illumination Through January 3 Stone Mountain Christmas Through January 3 Fantasy in Lights at Callaway Gardens Through January 4 Lakeside Lights Spectacular at Lake Lanier Islands Through January 5
Garden Lights, Holiday Nights at the Atlanta Botanical Gardens Through January 6 Winter Wonderland at Fernbank Through January 8 Holidays on the Roof at Ponce City Market Through January 10
E T A T S E L
Z Z BU
A E R
COVID-19 IS CREATING A SURGE IN RELOCATION According to Pew Research, 22% of US adults say they have relocated or know someone who has, due to the pandemic. Source: PewResearch.org
ATLANTA’S SOLD PRICE JUMPS. IT’S A SELLER’S MARKET In August 2020, the median sold price in Metro Atlanta was 15% higher than August 2019. Source: Trendgraphix
THE COST OF OWNING IS DECLINING WHILE THE COST OF RENTING CLIMBS Buyers are spending on average 15.9% of their income on owning a home. Renters are spending on average 27.8% of their income on renting. Source: MYKCM.com
HOME IMPROVEMENTS CAN ADD SUBSTANTIAL RE-SALE VALUE TO YOUR HOME In Atlanta, the improvements that provide the greatest return are stone veneers, siding replacement, and deck additions. Source: Cost vs Value 2020 Report
WHAT CURRENT BUYERS WANT MOST: 1. More space (15.7%) 2. Better outdoor space (13.6%) 3. Updated kitchen (13.3%) Source: Realtor.com
HOME BUYERS ARE MOVING AWAY FROM OPEN FLOORPLANS With more people working from home, buyers are looking for more space and privacy. A recent Harris Poll found 27% of potential home buyers would consider moving to a home with more rooms after spending more time at home during the COVID-19 pandemic. Source: TheHarrisPoll.com
HARRY NORMAN, REALTORS® SELLS FOR MORE In October, Harry Norman, REALTORS® pending sales price reached the highest point in 90 years. Source: Harry Norman
THINKING ABOUT BUYING A HOME IN 2021? EXPERTS SAY IT’S THE
rIGHT TIME!
U.S. GDP GROWTH SEES FASTEST Q3 GROWTH EVER RECORDED
THE PANDEMIC IS GROWING DEMAND FOR MULTIGENERATIONAL HOMES
GDP annualized growth rate increased 33.1% from July to September. Source: CNBC.com
NEWLY BUILT HOME SALES OUTPACING 2019
Since April, 15% of buyers purchasing a home have been likely to purchase a multigenerational home versus 11% prior. Source: NAR
Jan – Sept 2020, newly built, single-family homes sales are 16.9% higher than last year.
OCTOBER SALES VOLUME INCREASED 40% COMPARED TO 2019 This Fall’s housing market continues to show strength compared to the same time last year.
Source: RisMedia.com
Source: FMLS
A message from Harry Norman’s In-House Lender The Mortgage Bankers Association predicts 30-year fixed rates to hover around 3.00% for the first half of 2021, with slight increases in the second half of the year. Even with slight increases (driven primarily by promising vaccine news), these historically low rates create a favorable environment for both buyers and sellers! Predictions are that 2021 will be just as strong as 2020 has been in the real estate market. ®
We are proud to support our Harry Norman, REALTORS Intown Office and wish you all a happy, healthy and prosperous New Year! Carolyn Cushing | Senior Mortgage Consultant | Prosperity Home Mortgage, LLC NMLS #588510 | Phone: 404-966-9805 | Email: Carolyn.Cushing@PHMLoans.com
HAPPY HOLIDAYS from
THE BUTCH WHITFIELD GROUP Cell: 770-630-6668 Office: 404-897-5558 Butch.Whitfield@HarryNorman.com
Harry Norman, REALTORS® The Intown Office 1518 Monroe Drive NE, Suite E | Atlanta, GA 30324 | HarryNorman.com/Intown