Market Intelligence DECEMBER 2022 ATLANTA Velocity Real Estate 20 22
Who would have predicted that a worldwide health pandemic would lead to a white-hot real estate market in the US? Probably no one, but it happened As we welcome 2023, we can say the white-hot market has passed
The buzzword for 2022 was INFLATION! It caused the pendulum to swing in the other direction as we saw the Fed manipulate rates to control it The Fed's response to increasing interest rates slowed down buyer demand. However, per the months of supply metric, we are still not in a buyer's market yet for the following reasons:
1) stabilizing new norms on interest rates
2) reduced inventory across most submarkets
3) historically low foreclosure numbers, and
4) a good job market
With these factors in play, we are in a market that has put price increases in check and allows buyers to ask for reasonable concessions
In short, whether you are buying a primary residence, a second home, or an investment property, you will be working in a SHIFTING MARKET This means that information will be critical to your decision-making We are sharing the stats on the market from the last quarter of 2022 in the areas we work most frequently
Use these numbers to guide your thoughts if a real estate purchase is in your future over the next six months. We would like to be the trusted advisor who assists you in the sale or purchase of real estate in Atlanta
We look forward to putting our years of experience and ability to read the numbers to work for you!
Itanza Sewell Managing Broker
Itanza Sewell
Office: 678-278-9798
Velocity Real Estate LLC VELOCITY-RE.COM
YEAR END MARKET INTELLIGENCE REPORT
VELOCITY REAL ESTATE
Discover your place to call home.
Table of Contents
HEIGHTS
NORTH BUCKHEADROSWELL -
SANDY SPRINGS -
WOODSTOCK -
Sources: FMLS (First Multiple Listing Services) and Realtors Property Resource® LLC. Most recent twelve months through December 2022. Data deemed reliable but not guaranteed
ALPHARETTACANTONCASCADE
CUMMINGDUNWOODYHOLLY SPRINGSMILTON -
VELOCITY REAL ESTATE
MARKET ACTIVITY
Inventory and Months' Supply
The indicator of inventory levels (months' supply) is a measure of housing availability The higher inventory levels (Buyers' Market), the more homes there are on the market for sale, while lower inventory levels (Sellers' Market) mean you might have trouble finding what your heart desires.
VELOCITY REAL ESTATE
MARKET ACTIVITY
Market Snapshot
Average Sales Price $772,299(Detached)
1.4
Average Sales Price $496,280 (Attached)
DETACHED HOMES - SOLD LAST SIX MONTHS (SELLERS' MARKET)
CATEGORY $0$188,999 $189,000$379,999 $380,000$574,999 $575,000 + AVG TOTALS ACTIVE LISTINGS 0 1 25 131 158 MONTHS OF SUPPLY 0 0.2 0.7 1.8 1.4 AVG DAYS ON MARKET 0 18 23 23 23 AVG SALES PRICE - $336,523 $490,203 $918,594 $772,299 SIX MONTHS CLOSINGS 0 31 186 451 668 ANNUAL CLOSINGS - 62 413 968 1443
MARKET INTELLIGENCE REPORT Market Intelligence | Page 6
ALPHARETTA
DETACHED
1.7 MONTHS OF SUPPLY ATTACHED
MONTHS OF SUPPLY
ALPHARETTA
ATTACHED HOMES - SOLD LAST SIX MONTHS (SELLERS' MARKET)
EACH DATA POINT BELOW IS ONE MONTH OF ACTIVITY (ALL PROPERTY TYPES) Sale
CATEGORY $0$188,999 $189,000$379,999 $380,000$574,999 $575,000 + AVG TOTALS ACTIVE LISTINGS 1 8 30 41 80 MONTHS OF SUPPLY 1 04 16 4 17 AVG DAYS ON MARKET 0 17 22 24 21 AVG SALES PRICE 0 $308,448 $461,372 $824,432 $496,280 SIX MONTHS CLOSINGS 0 92 4 47 51 ANNUAL CLOSINGS 0 215 254 133 602 Market Intelligence | Page 7
MARKET INTELLIGENCE REPORT
To List Price Ratio Cumulative DOM Price Per Sq Ft
New Listings
97.7% 47 $251
Pending Sales 101 76
CANTON
Market Snapshot
Average Sales Price $530,205(Detached)
2.2
DETACHED MONTHS OF SUPPLY
Average Sales Price $341,518 (Attached)
4.3 MONTHS OF SUPPLY ATTACHED
DETACHED HOMES - SOLD LAST SIX MONTHS (SELLERS' MARKET)
CATEGORY $0$228,999 $229,000$328,999 $329,000$452,999 $453,000 + AVG TOTALS ACTIVE LISTINGS 7 17 57 237 322 MONTHS OF SUPPLY 41 14 11 28 22 AVG DAYS ON MARKET 53 45 26 31 30 AVG SALES PRICE $177,100 $285,110 $392,325 $660,969 $530,205 SIX MONTHS CLOSINGS 11 59 297 447 814 ANNUAL CLOSINGS 25 130 646 1042 1843
MARKET INTELLIGENCE REPORT Market Intelligence | Page 6
CANTON
ATTACHED HOMES - SOLD LAST SIX MONTHS (SELLERS' MARKET)
EACH DATA POINT BELOW IS ONE MONTH OF ACTIVITY (ALL PROPERTY TYPES)
Sale To List Price Ratio
98% 51 $192 New Listings Pending Sales 127 106
MARKET INTELLIGENCE REPORT CATEGORY $0$228,999 $229,000$328,999 $329,000$452,999 $453,000 + AVG TOTALS ACTIVE LISTINGS 0 6 10 20 36 MONTHS OF SUPPLY 0 1.2 3.6 8.6 4.3 AVG DAYS ON MARKET 0 15 28 44 21 AVG SALES PRICE 0 $288,687 $384,783 $595,817 $341,518 SIX MONTHS CLOSINGS 0 30 19 3 52 ANNUAL CLOSINGS 1 59 32 12 104 Market Intelligence | Page 7
Cumulative DOM Price
Sq Ft
Per
DETACHED HOMES - SOLD LAST SIX MONTHS (SELLERS' MARKET)
CATEGORY $0$98,999 $99,000$209,999 $210,000$288,999 $289,000 + AVG TOTALS ACTIVE LISTINGS 0 0 0 1 1 MONTHS OF SUPPLY 0 0 0 0.9 0.9 AVG. DAYS ON MARKET 0 0 0 53 53 AVG. SALES PRICE 0 0 0 $451,250 $451,250 SIX MONTHS CLOSINGS 0 0 0 4 4 ANNUAL CLOSINGS 0 0 0 9 9
MARKET INTELLIGENCE REPORT Market Intelligence | Page 6 Average Sales Price $0(Attached) 0 MONTHS OF SUPPLY ATTACHED DETACHED MONTHS OF SUPPLY 0.9 Average
$451,250(Detached)
Market Snapshot CASCADE HEIGHTS
Sales Price
CASCADE HEIGHTS
ATTACHED HOMES - SOLD LAST SIX MONTHS (SELLERS' MARKET)
EACH DATA POINT BELOW IS ONE MONTH OF ACTIVITY (ALL PROPERTY TYPES)
MARKET INTELLIGENCE REPORT CATEGORY $0$98,999 $99,000$209,999 $210,000$288,999 $289,000 + AVG TOTALS ACTIVE LISTINGS 0 0 0 0 0 MONTHS OF SUPPLY 0 0 0 0 0 AVG DAYS ON MARKET 0 0 0 0 0 AVG. SALES PRICE 0 0 0 0 0 SIX MONTHS CLOSINGS 0 0 0 0 0 ANNUAL CLOSINGS 0 1 0 0 1 Market Intelligence | Page 7
To List Price Ratio Cumulative DOM Price Per Sq Ft 0% 0 $0 New Listings Pending Sales 0 0
Sale
Market Snapshot
Average Sales Price $598,993(Detached)
1.7
Average Sales Price $398,879(Attached)
1.7
DETACHED HOMES - SOLD LAST SIX MONTHS (SELLERS' MARKET)
CATEGORY $0$245,999 $246,000$353,999 $354,000$478,999 $479,000 + AVG TOTALS ACTIVE LISTINGS 5 11 45 281 346 MONTHS OF SUPPLY 18 06 1 2 17 AVG DAYS ON MARKET 21 31 23 22 23 AVG SALES PRICE $169,981 $308,527 $419,567 $697,588 $598,993 SIX MONTHS CLOSINGS 13 99 251 805 1168 ANNUAL CLOSINGS 37 201 567 1862 2667
MARKET INTELLIGENCE REPORT Market Intelligence | Page 6
CUMMING
MONTHS OF SUPPLY ATTACHED DETACHED MONTHS OF SUPPLY
CUMMING
ATTACHED HOMES - SOLD LAST SIX MONTHS (SELLERS' MARKET)
EACH DATA POINT BELOW IS ONE MONTH OF ACTIVITY (ALL PROPERTY TYPES)
MARKET INTELLIGENCE REPORT CATEGORY $0$245,999 $246,000$353,999 $354,000$478,999 $479,000 + AVG TOTALS ACTIVE LISTINGS 0 2 11 24 38 MONTHS OF SUPPLY - 0.3 1.2 4.2 1.7 AVG DAYS ON MARKET 20 19 20 17 19 AVG SALES PRICE $245,000 $311,255 $403,627 $539,417 $398,879 SIX MONTHS CLOSINGS 1 47 21 28 147 ANNUAL CLOSINGS 3 86 124 72 285 Market Intelligence | Page 7
Sale To List Price Ratio Cumulative DOM Price Per Sq Ft 97.8% 40 $199 New Listings Pending Sales 133 117
DUNWOODY
Market Snapshot
Average Sales Price $665,151(Detached)
1.1
DETACHED MONTHS OF SUPPLY
Average Sales Price $414,588(Attached)
1.1 MONTHS OF SUPPLY ATTACHED
DETACHED HOMES - SOLD LAST SIX MONTHS (SELLERS' MARKET)
CATEGORY $0$311,999 $312,000$468,999 $469,000$574,999 $575,000 + AVG TOTALS ACTIVE LISTINGS 0 3 5 21 29 MONTHS OF SUPPLY - 21 08 11 11 AVG. DAYS ON MARKET 3 13 24 17 19 AVG SALES PRICE $308,500 $409,762 $527,092 $768,668 $665,151 SIX MONTHS CLOSINGS 1 9 52 95 157 ANNUAL CLOSINGS 2 20 90 228 340
MARKET INTELLIGENCE REPORT Market Intelligence | Page 6
DUNWOODY
ATTACHED HOMES - SOLD LAST SIX MONTHS (SELLERS' MARKET)
EACH DATA POINT BELOW IS ONE MONTH OF ACTIVITY (ALL PROPERTY TYPES)
MARKET INTELLIGENCE REPORT CATEGORY $0$311,999 $312,000$468,999 $469,000$574,999 $575,000 + AVG TOTALS ACTIVE LISTINGS 3 7 0 1 11 MONTHS OF SUPPLY 0.9 1.7 - 0.4 1.1 AVG DAYS ON MARKET 11 14 20 19 15 AVG SALES PRICE $241,011 $390,229 $526,119 $661,571 $414,588 SIX MONTHS CLOSINGS 14 17 10 7 48 ANNUAL CLOSINGS 34 50 21 15 120 Market Intelligence | Page 7
Sale To List Price Ratio Cumulative DOM Price Per Sq Ft 97.6% 29 $221 New Listings Pending Sales 15 19
Market Snapshot
DETACHED HOMES - SOLD LAST SIX MONTHS (SELLERS' MARKET)
CATEGORY $0$311,999 $312,000$354,999 $355,000$413,999 $414,000 - + AVG TOTALS ACTIVE LISTINGS 0 0 1 6 7 MONTHS OF SUPPLY - - 1 2.1 2.5 AVG. DAYS ON MARKET - - 11 24 22 AVG. SALES PRICE - - $400,078 $558,967 $534,523 SIX MONTHS CLOSINGS 0 0 2 11 13 ANNUAL CLOSINGS 0 0 4 39 43
MARKET INTELLIGENCE REPORT Market Intelligence | Page 6 Average Sales Price
(Attached)
MONTHS OF SUPPLY ATTACHED DETACHED MONTHS OF SUPPLY
HOLLY SPRINGS
$0
0
2.5 Average Sales Price $534,523(Detached)
HOLLY SPRINGS
ATTACHED HOMES - SOLD LAST SIX MONTHS (SELLERS' MARKET)
EACH DATA POINT BELOW IS ONE MONTH OF ACTIVITY (ALL PROPERTY TYPES) Sale
-%
MARKET INTELLIGENCE REPORT CATEGORY $0$311,999 $312,000$354,999 $355,000$413,999 $414,000 - + AVG TOTALS ACTIVE LISTINGS 0 0 0 0 0 MONTHS OF SUPPLY - - - -AVG DAYS ON MARKET - - - -AVG. SALES PRICE - - - -SIX MONTHS CLOSINGS 0 0 0 0 0 ANNUAL CLOSINGS 0 0 0 0 0 Market Intelligence | Page 7
List Price
Cumulative DOM Price Per Sq Ft
- $New Listings
Sales 1
To
Ratio
Pending
4
Market Snapshot
Average Sales Price $1,315,685(Detached)
2.3
Average Sales Price $627,884(Attached)
1.9
DETACHED HOMES - SOLD LAST SIX MONTHS (SELLERS' MARKET)
CATEGORY $0$477,999 $478,000$739,999 $740,000$1,024,999 $1,025,000 + AVG TOTALS ACTIVE LISTINGS 0 3 8 51 62 MONTHS OF SUPPLY - 1 1.2 3.3 2.3 AVG. DAYS ON MARKET 17 29 33 33 31 AVG. SALES PRICE $403,718 $638,967 $869,554 $1,722,910 $1,315,685 SIX MONTHS CLOSINGS 11 15 36 89 151 ANNUAL CLOSINGS 23 33 73 213 342
MARKET INTELLIGENCE REPORT Market Intelligence | Page 6
MILTON
DETACHED
OF SUPPLY
MONTHS OF SUPPLY ATTACHED
MONTHS
ATTACHED HOMES - SOLD LAST SIX MONTHS (SELLERS' MARKET)
EACH DATA POINT BELOW IS ONE MONTH OF ACTIVITY (ALL PROPERTY TYPES) Sale To List Price Ratio
98.1% 70 $273 New Listings Pending Sales 11 12
MARKET INTELLIGENCE REPORT CATEGORY $0$477,999 $478,000$739,999 $740,000$1,024,999 $1,025,000 + AVG TOTALS ACTIVE LISTINGS 0 0 7 3 10 MONTHS OF SUPPLY - - 3 3 1.9 AVG DAYS ON MARKET 23 71 28 353 44 AVG SALES PRICE $363,000 $648,478 $809,660 $1,180,000 $627,884 SIX MONTHS CLOSINGS 13 8 15 1 37 ANNUAL CLOSINGS 27 15 20 2 64 Market Intelligence | Page 7
MILTON
Cumulative DOM
Sq Ft
Price Per
NORTH BUCKHEAD
Average Sales Price $1,361,177(Detached)
1.2
DETACHED MONTHS OF SUPPLY
Average Sales Price $511,144(Attached)
2.6 MONTHS OF SUPPLY ATTACHED
DETACHED HOMES - SOLD LAST SIX MONTHS (SELLERS' MARKET)
CATEGORY $0 - $81,999 $82,000$344,999 $345,00$714,999 $715,00 + AVG TOTALS ACTIVE LISTINGS 0 0 0 10 10 MONTHS OF SUPPLY - - - 1.3 1.2 AVG DAYS ON MARKET - - 23 28 27 AVG SALES PRICE - - $628,929 $1,503,558 $1,361,177 SIX MONTHS CLOSINGS 0 0 7 36 43 ANNUAL CLOSINGS 0 0 14 98 112
Market Snapshot MARKET INTELLIGENCE REPORT Market Intelligence | Page 6
NORTH BUCKHEAD
ATTACHED HOMES - SOLD LAST SIX MONTHS (SELLERS' MARKET)
EACH DATA POINT BELOW IS ONE MONTH OF ACTIVITY (ALL PROPERTY TYPES) Sale To List Price Ratio Cumulative DOM Price Per Sq Ft 97.0% 85 $302 New Listings Pending Sales 20 8
MARKET INTELLIGENCE REPORT CATEGORY $0 - $81,999 $82,000$344,999 $345,00$714,999 $715,00 + AVG TOTALS ACTIVE LISTINGS 0 7 24 19 50 MONTHS OF SUPPLY - 1.1 2.5 4.9 2.6 AVG DAYS ON MARKET - 24 34 74 36 AVG SALES PRICE - $280,404 $462,109 $1,278,571 $511,144 SIX MONTHS CLOSINGS 0 37 45 14 96 ANNUAL CLOSINGS 0 84 115 47 247 Market Intelligence | Page 7
Market Snapshot
Average Sales Price $715,738(Detached)
1.4
DETACHED MONTHS OF SUPPLY
Average Sales Price $466,797(Attached)
0.8 MONTHS OF SUPPLY ATTACHED
DETACHED HOMES - SOLD LAST SIX MONTHS (SELLERS' MARKET)
CATEGORY $0$298,999 $299,000$414,999 $415,000$549,999 $550,000 + AVG TOTALS ACTIVE LISTINGS 0 6 24 93 125 MONTHS OF SUPPLY - 1 0.9 1.8 1.4 AVG. DAYS ON MARKET 16 23 17 20 20 AVG. SALES PRICE $295,000 $379,286 $479,088 $866,831 $715,738 SIX MONTHS CLOSINGS 1 39 149 323 512 ANNUAL CLOSINGS 3 88 321 673 1,085
MARKET INTELLIGENCE REPORT Market Intelligence | Page 6
ROSWELL
ROSWELL
ATTACHED HOMES - SOLD LAST SIX MONTHS (SELLERS' MARKET)
EACH DATA POINT BELOW IS ONE MONTH OF ACTIVITY (ALL PROPERTY TYPES) Sale
99.7% 23 $225
MARKET INTELLIGENCE REPORT CATEGORY $0$298,999 $299,000$414,999 $415,000$549,999 $550,000 + AVG TOTALS ACTIVE LISTINGS 6 3 4 9 22 MONTHS OF SUPPLY 08 06 06 11 08 AVG DAYS ON MARKET 14 12 22 22 18 AVG SALES PRICE $247,525 $358,011 $475,567 $685,959 $466,797 SIX MONTHS CLOSINGS 48 23 36 58 165 ANNUAL CLOSINGS 88 68 82 112 350 Market Intelligence | Page 7
To List
Cumulative DOM Price Per Sq Ft
New Listings
65 62
Price Ratio
Pending Sales
SANDY SPRINGS
Average Sales Price $1,099,937(Detached)
1.9
DETACHED MONTHS OF SUPPLY
Average Sales Price $332,741(Attached)
1.2 MONTHS OF SUPPLY ATTACHED
DETACHED HOMES - SOLD LAST SIX MONTHS (SELLERS' MARKET)
CATEGORY $0-$167,999 $168,000$474,999 $475,000$714,999 $715,000 + AVG TOTALS ACTIVE LISTINGS 0 0 13 55 69 MONTHS OF SUPPLY - - 1.3 2.2 1.9 AVG DAYS ON MARKET - 35 29 30 29 AVG SALES PRICE - $460,000 $599,457 $1,308,275 $1,099,937 SIX MONTHS CLOSINGS 0 1 57 140 198 ANNUAL CLOSINGS 0 10 123 319 452
Market Snapshot MARKET INTELLIGENCE REPORT Market Intelligence | Page 6
SANDY SPRINGS
ATTACHED HOMES - SOLD LAST SIX MONTHS (SELLERS' MARKET)
EACH DATA POINT BELOW IS ONE MONTH OF ACTIVITY (ALL PROPERTY TYPES)
CATEGORY $0-$167,999 $168,000$474,999 $475,000$714,999 $715,000 + AVG TOTALS ACTIVE LISTINGS 7 28 10 5 50 MONTHS OF SUPPLY 16 1 19 22 12 AVG DAYS ON MARKET 32 15 22 33 19 AVG SALES PRICE $135,900 $278,427 $580,323 $897,680 $332,741 SIX MONTHS CLOSINGS 27 165 28 13 233 ANNUAL CLOSINGS 55 354 85 26 520 Market Intelligence | Page 7
MARKET INTELLIGENCE REPORT
Sale To List Price Ratio Cumulative DOM Price Per Sq Ft 97.2% 39 $220 New Listings Pending Sales 35 41
WOODSTOCK
Market Snapshot
Average Sales Price $476,244(Detached)
1.6
Average Sales Price $429,319(Attached)
2.1
DETACHED HOMES - SOLD LAST SIX MONTHS (SELLERS' MARKET)
CATEGORY $0 - $214,999 $215,000$298,999 $299,000$408,999 $409,000+ AVGTOTALS ACTIVE LISTINGS 1 5 50 128 185 MONTHS OF SUPPLY 0.7 0.8 1.1 1.9 1.6 AVG. DAYS ON MARKET - 16 26 24 24 AVG SALES PRICE - $271,940 $361,059 $571,397 $476,244 SIX MONTHS CLOSINGS - 39 253 390 682 ANNUAL CLOSINGS 1 79 544 836 1460
MONTHS
DETACHED MONTHS OF SUPPLY
OF SUPPLY ATTACHED
MARKET INTELLIGENCE REPORT Market Intelligence | Page 6
ATTACHED HOMES - SOLD LAST SIX MONTHS (SELLERS' MARKET)
EACH DATA POINT BELOW IS ONE MONTH OF ACTIVITY (ALL PROPERTY TYPES)
INTELLIGENCE REPORT CATEGORY $0 - $214,999 $215,000$298,999 $299,000$408,999 $409,000 + AVG TOTALS ACTIVE LISTINGS 1 0 10 42 53 MONTHS OF SUPPLY 1 0 1 3.3 2.1 AVG DAYS ON MARKET 22 14 14 38 28 AVG. SALES PRICE - $274,044 $353,448 $491,851 $429,319 SIX MONTHS CLOSINGS 0 9 64 100 173 ANNUAL CLOSINGS 0 22 141 182 345 Market Intelligence | Page 7
WOODSTOCK MARKET
Sale To List Price Ratio Cumulative DOM Price Per Sq Ft
98.1% 47 $200 New Listings Pending Sales 99 83
Market Intelligence DECEMBER 2022 Velocity Real Estate 20 22
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