Market Reports Archives

How’s The Atlanta Real Estate Market?

June 15, 2018 by Thom Abbott

How’s The Atlanta Real Estate Market?

I wanted to share some information regarding the Atlanta real estate market from the recent Case-Shiller Real Estate Report.

The entry-level market has strong demand and very low inventory. There are many multiple offers and values rose faster than other segments.
The luxury market is a buyer’s market with buyers negotiating better pricing and terms.

Mortgage rates are rising slowly which will impact affordability. Metro Atlanta continues to be very affordable relative to other metro areas around the country.

May pending contracts were up .6% from April and up 8.6% from the prior year. May closings were up 11.7% from April and down 1.3% from the prior year.
Year-to-date pending sales units were up 6.5% versus the prior year. Year-to-date closings were up 2.8% versus the prior year.

The Average Sales Price for May was $322,000 – up 3.2% from April and up 6.6% from last year. 2018 is on track to be the highest annual ASP on record.

Inventory for May was up 5.3% from April and down 8.8% from last year.

Overall Months of Supply for May was 2.4 months. Six months is considered normal. Luxury properties took longer with homes above $1 million averaging 10 months and properties over $2 million averaging 16 months to close. The luxury market remains a buyer’s market in many areas.

The Average List-to-Sale Price Ratio was 97% for all price points. Many properties in high-demand areas are selling above list.

The latest Case-Shiller Index for Atlanta (5/29/18) was up .8% compared to the previous month. Metro Atlanta home values are up 73% from the bottom of March 2012. Increased home values are building equity and getting sellers back into the market.

I always, repeat, ALWAYS tell my clients, whether you are a Buyer or a Seller, that the real estate market will be different for you depending on your real estate plan. Are you looking to refinance? Are you looking to purchase an investment property? We look at your specific real estate needs and goals, and then we talk about the market and what will work best for you. This, coupled with a great lender from our Team Lenders, and we will all work together to make your real estate experience a great one!

Let’s sit down over coffee (or an adult beverage) and talk about location, location, location…and how important that is in real estate.

Midtown Atlanta Real Estate Market Report October 2017

November 19, 2017 by Thom Abbott

In our Midtown Atlanta Real Estate Market Report October 2017, we want to make a disclaimer as to how we did the numbers this month.

Midtown Atlanta is located within Area 23, a designated listing area by the First Multiple Listing Service. (FMLS) When we pulled the numbers for this report we used Area 23, and did not try to define it by just Midtown Atlanta. There is no classification with in the MLS for just Midtown Atlanta. So, this market report covers a broad area, as show in the map on the right.

If you have specific questions about your neighborhood, or condominium building, we’d be happy to do a market report specifically for you. Just CONTACT US!

Midtown Atlanta Real Estate Market Report October 2017

Single Family Homes

Properties Active on the Market: 170

(High was $3.195M in Ansley Park to Low of $275,000 in Reynoldstown)

Properties Pending/Contingent: 75

(High was $1.249M for a home on Charles Allen to a Low of $315,000 in Reynoldstown)

Properties Sold: 29

(High was $1.74M in Morningside to the Low of $393,000 in Reynoldstown)

Condominiums and Townhomes

Properties Active on the Market: 232

(High was $4.336M for Opus Place and the low was $100k at City Heights and $105,000 at 1280 West)

Properties Pending/Contingent: 159

(High was $899,900 for a 7th Street townhome to a Low at $105,000 at 1280 West)

Properties Sold: 102

(High was $746,000 at Square @ Glen Iris to a low of $120,000 at 12th Street Commons)

As we pulled these numbers at the end of October, we completely forgot to do Average Days on the Market..Whoops!

If you’d rather hear this report in a video format, just click on the video below.

If you have any questions about the Midtown Atlanta Real Estate Market, feel free to EMAIL ME, or you can call me at 770.713.1505

What’s My Mayfair Condo Worth?

October 28, 2016 by Thom Abbott

The Mayfair Renaissance and Mayfair Tower sit side-by-side on 14th Street in Midtown Atlanta. But when you ask the question, What’s My Mayfair Condo Worth…..you have to consider the buildings in a different light.

But this September, 2016 Market Report for the Mayfair Renaissance/Tower has an interesting angle….There is only ONE For Sale listing in the Renaissance, yet the only two Under Contract are in the Renaissance, yet the three that Sold in September are all in the Tower. Go figure. The big difference between the buildings as far as amenities go is the Tower does not have access to the swimming pool…that belongs to the Renaissance building.

If you’re looking for condos for sale in (x), or thinking about selling your (x) condo, this post should provide you with some important information regarding current inventory, homes pending sale, and what has sold recently. Please call us for more information or if you have further questions.

Further investigation shows that all the Mayfair Tower listings are 1 bedroom, no 2 bedrooms listed!

As mentioned before, the two homes Under Contract are in Mayfair Renaissance….

And the three that sold are in the Mayfair Tower. And the limited Days on Market trend in Midtown Atlanta continues here with 6 to 21 days!

You can see the current listings in Mayfair Renaissance/Tower below.

Please note: if a red box appears below in place of any homes For Sale at Mayfair Renaissance/Tower, it simply means there are NO homes listed For Sale! Also be certain to check the status of each listing as it may already be Under Contract or SOLD! ( Some listings may appear that are not located in THIS community as they are from another community with the same name!)If you are interested in buying a home in Mayfair Renaissance/Tower, please contact us at 770.713.1505. We can set up a New Listing Alert to notify you as soon as a home comes on the market!

List View
Map View
Grid View

199 14th Street NE #2312, Atlanta, GA

199 14th Street NE #2312
Atlanta, GA

$245,000
- Lot Size
- Home Size
  
  533 sqft
- Beds
- Baths
  
  1 Bath
- Year Built
  
  1992
195 14th Street NE #1501, Atlanta, GA

195 14th Street NE #1501
Atlanta, GA

$449,900
- Lot Size
- Home Size
  
  1,146 sqft
- Beds
  
  2 Beds
- Baths
  
  2 Baths
- Year Built
  
  2002
View Virtual Tour
199 14th Street NE #1405, Atlanta, GA

199 14th Street NE #1405
Atlanta, GA

$395,000
- Lot Size
- Home Size
  
  1,103 sqft
- Beds
  
  2 Beds
- Baths
  
  2 Baths
- Year Built
  
  1992
199 14th Street NE #1609, Atlanta, GA

199 14th Street NE #1609
Atlanta, GA

$310,000
- Lot Size
- Home Size
  
  750 sqft
- Beds
  
  1 Bed
- Baths
  
  1 Bath
- Year Built
  
  1992
195 14th Street NE #2305, Atlanta, GA

195 14th Street NE #2305
Atlanta, GA

$475,000
- Lot Size
- Home Size
  
  1,122 sqft
- Beds
  
  2 Beds
- Baths
  
  2 Baths
- Year Built
  
  2002
195 14th Street #602, Atlanta, GA

195 14th Street #602
Atlanta, GA

$415,000
- Lot Size
- Home Size
  
  1,055 sqft
- Beds
  
  1 Bed
- Baths
  
  2 Baths
- Year Built
  
  2002
415 Mayfair Court, Alpharetta, GA

415 Mayfair Court
Alpharetta, GA

$1,345,900
- Lot Size
- Home Size
  
  3,146 sqft
- Beds
  
  3 Beds
- Baths
  
  5 Baths
- Year Built
  
  2024
625 Mayfair Court, Alpharetta, GA

625 Mayfair Court
Alpharetta, GA

$1,398,600
- Lot Size
- Home Size
  
  3,146 sqft
- Beds
  
  3 Beds
- Baths
  
  5 Baths
- Year Built
  
  2024
195 14th Street NE #505, Atlanta, GA

195 14th Street NE #505
Atlanta, GA

$435,000
- Lot Size
- Home Size
  
  1,122 sqft
- Beds
  
  2 Beds
- Baths
  
  2 Baths
- Year Built
  
  2002
199 14th Street #707, Atlanta, GA

199 14th Street #707
Atlanta, GA

$315,000
- Lot Size
- Home Size
  
  805 sqft
- Beds
  
  1 Bed
- Baths
  
  1 Bath
- Year Built
  
  1992

See all Mayfair Renaissance and Mayfair Tower.
(all data current as of 12/23/2024)

Listings on this website come from the FMLS IDX Compilation and may be held by brokerage firms other than the owner of this website. The listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed. If you believe any FMLS listing contains material that infringes your copyrighted work, please click here to review our DMCA policy and learn how to submit a takedown request. © 2024 FMLS.
Data last updated: 12/23/24 3:31 AM PST.

Walk Score provided by walkscore.com.

Why Does It Take You So Long to Do Market Reports?

October 28, 2016 by Thom Abbott

A post of a personal nature…but a question asked. Why Does it take you so long to do Market Reports?

I’m in the process of getting Market Report posts done for September, 2016 numbers. A person who follows my blog regularly, asked the question yesterday,

“Why is it October 28 and you are still doing SEPTEMBER Market Reports? It seems like this is already old news. Why don’t we see them on September 1 or 2?”

Ok. That’s a fair question that needs an answer.

The easy answer would be, “They are a lot of work.” Well they are!

But the truth is there are several factors at play. First, I wait until the 15th of the following month, to make sure that the MLS has been updated with all the closings for the month I’m writing about. So, I don’t start on September reports until October 15.

Second, I have TWENTY-TWO, yes 22 major condo buildings in the Midtown area. I’d probably push 35 or more if I did ALL the condo buildings!!! That’s some serious buildings to pull numbers for.

Third, there is more to a market report, than just throwing numbers out there. I believe my readers expect some type of analysis of the information. Often, it’s pretty straight-forward. Not much inventory, some are Under Contract, and some have Sold…and the Days on Market are short and sweet. But not always. Take the September, 2016 Market Report for Viewpoint Midtown. One of the Sold listings had been on the market for some 110 days!!! That’s crazy in this market. So I had to take further time to look into that specific listing and be able to offer up an explanation of what happened. I can usually look at a listing and tell what the issue was. In this case, it was a Seller who had a tenant that wanted to stay in the condo, and they were looking for an investment buyer vs. an owner-occupied buyer. And that took some time.

I get a lot of great feedback on my Market Reports. These are not those “zestimates” that you hear about….this is an actual real estate agent, that works in the market on a day-to-day basis, looking at the activity, not in a high-reaching view, but building, by building. What sells down the street may have some impact on your value, but it’s more important to know what is happening right in YOUR building. As that will have a more direct impact on your value if you are planning to refinance or sell.

So, it takes time to write some 22 blog posts about all the Midtown Atlanta condo buildings. In fact, for September, I may have to condense some of the buildings into a multi-building post, just so I can get the info out there.

I hope it’s information you find helpful when YOU have a question, “How’s the real estate market?”

Now, let me get back to Market Reports!!!

What’s My 905 Juniper Condo Worth? September 2016

October 26, 2016 by Thom Abbott

905 Juniper is a great boutique condo building at 8th and Juniper Streets. Boutique means just 117 homes! If you are looking to buy or sell in this building, then we need to ask the question, What’s My 905 Juniper Condo Worth?

905 Juniper

905 Juniper has held its value well all through the market downturn, but prices have risen here too.

If you’re looking for homes for sale in 905 Juniper, or thinking about selling your 905 Juniper condo, this post should provide you the detail you need to make an informed decision. But nothing is better than sitting down and talking about the market, your home, and what we can do! Please give us a call for more information or if you have further questions.

Currently, there are just three homes For sale in the building.

Under Contract we have a unique 3 bedroom home

And in the Sold category…..in looking back at 2015, there were 3 sales in August and September that ranged from $450,000 to $737,500, all 2 bedroom homes.

Information about the homes listed For Sale in this report are below.

Please note: if a red box appears below in place of any homes For Sale at 905 Juniper, it simply means there are NO homes listed For Sale! Also be certain to check the status of each listing as it may already be Under Contract or SOLD! ( Some listings may appear that are not located in THIS community as they are from another community with the same name!)If you are interested in buying a home in 905 Juniper, please contact us at 770.713.1505. We can set up a New Listing Alert to notify you as soon as a home comes on the market!

List View
Map View
Grid View

905 Juniper Street NE #110, Atlanta, GA

905 Juniper Street NE #110
Atlanta, GA

$1,095,000
- Lot Size
- Home Size
  
  2,376 sqft
- Beds
- Baths
  
  2 Baths
- Year Built
  
  2006

See all 905 Juniper.
(all data current as of 12/23/2024)

What’s My 1010 Midtown Condo Worth? September 2016

October 25, 2016 by Thom Abbott

If you are thinking about selling your 1010 Midtown Condo, it might be worth asking the question, What’s My 1010 Midtown Condo Worth?

What’s My 1010 Midtown Condo Worth?

1010 Midtown Atlanta weathered the market downturn well! When the market was soft, the developer held firm on pricing and rode out the downturn. As a result, prices have remained strong, and have increased in 1010 Midtown. Let’s look at the numbers.

To put the above list prices in perspective to other Midtown High-rise condos, a 2 bedroom at Metropolis,Spire or Viewpoint would be in the $379,000 to $460,000 range.

Just two homes currently listed as Under Contract for this report…and for Solds….

But don’t let this report to let you think that it has been a slow year at 1010 Midtown. There has been a total of 34 homes SOLD in the last 180 days, with a low price of $281,500 for #1314, to a high of $770,000 for #2905.

1010 Midtown is part of the overall 12th and Midtown development project brought to us mostly by Selig Enterprises along with Daniel Realty. Residents have numerous restaurants within a couple block radius of the building, along with Bank of America in the building. Across the street, your guests can lounge in luxury at the Loews’ Midtown Atlanta Hotel.

If you are looking for homes for sale in 1010 Midtown Atlanta, or you are thinking about buying a home in this building, we hope you will find this Market Report helpful. But nothing is better than sitting down over a cup of coffee and really learning what your real estate goals are, whether buying or selling. And we’d be happy to do that!