The spring real estate market is here and sales activity is very high. Inventory is very low in many areas, even though the overall metro area shows higher levels. Large corporate moves are having significant impact in the Central Perimeter, North Fulton and Intown markets.
- Closings for Metro Atlanta in April were down 3.5% compared to last month and up 1% compared to last year. This reflects a normal slowdown due to spring breaks in early April.
- The average sales price was $274,000 in April versus $260,000 in March. The ASP for the past 12 months was $250,000 which was up 45% from the bottom of 2011.
- Listed inventory was up 5.8% from last month and up 3.1% compared to last year. Inventory is up 36% from the recent bottom of February 2013. But the limited availability of highly desirable properties in select markets is still driving multiple offers and very quick sales. Remember, real estate is local and markets can be very different.
- Months of supply increased slightly to 4.1 months versus 3.8 months in March. Six months is considered normal. Desirable inventory is starting to get very low in many areas.
The latest Case-Shiller Index (4/28/15) reports that Metro Atlanta home values are up 44% from the recent bottom of March 2012.
- New Homes are moving fast – but the problem is that many builders cannot build them fast enough. Visit www.NewHomesServicesGA.com to view new home communities.
- Commercial real estate is also making a comeback in Metro Atlanta. Smart RE Data reports that land sales, industrial sales and office leases are improving. Our Commercial Real Estate Division specializes in these areas and would be happy to help you.
We would be honored to assist you or someone you know with their real estate needs. We are experts in the local market and have access to proprietary information sources that are not available to the public. Visit www.PetersenPartners.com for more information on our award winning team. Better information leads to better decisions!