Local North Metro Atlanta Real Estate Market Conditions
North Atlanta Real Estate Market Trends
If you ask most real estate agents if it’s a good time to buy or sell, most will echo the National Association of Realtors continual mantra which is, “It’s Always a Great Time to Buy or Sell!” This is of course not true – that is the Salesperson speaking. Of course there are driving personal and family reasons where you need to do what you need to do – regardless of the market. But barring personal reasons for needing to sell, for example a divorce, neighborhood decline/crime, needing better schools, or job opportunities elsewhere, determining whether it’s financially a good time to buy or sell depends on the context of the time period. It also depends on whether you’re the buyer or seller, and if you’re the seller, how the market is where you will be moving to and buying again. Let’s look at a recent example to illustrate this in the Atlanta market. In 2006 and 2007 it was a great time for sellers to sell in the Atlanta market because home values were at an all time high – so if you sold you should have gotten maximum value – but it was not a great time for buyers to buy. If you bought in 2006-2007 you bought at the market high then rode a nasty value trend spiral downward for the next 5 to 7 years losing between 30-40% of value depending on your market. Fast forward to late 2015 where Atlanta properties finally recouped just over 95% of their pre crash market peak values set in mid 2007.
The Important Question to ask when you want to buy or sell…
How Is the Market Now? Robert can easily and accurately answer that question for all Greater North Atlanta Markets!
The Atlanta real estate market consists of a wide range of micro markets, each with its own unique and different value trends and forecasts. All real estate is local and accurate and honest reporting is critical to clients making sound decisions. Click the pull down menu below the Market Watch heading, then click the link for your city area of interest and get an informative overview.
Robert Whitfield works at the neighborhood micro market level all over the In Town and North Atlanta area, and utilizes a variety of appraisal data and property valuation resources. You can count on us to report and explain market trends in an unbiased manner, with much greater detail and the accuracy a standard agent CMA can not match. The advantage for our clients is clear – knowing the trends and conditions for a specific micro market allows our clients to make more educated and confident decisions whether they’re the buyer or seller. But data and stats are only part of the equation – no matter what the data says, no two homes are the same, and even appraisers can disagree on valuations. It takes experience to decipher and apply the data to the each situation in order to obtain optimal results – Robert has worked with deep level market data in the ATLANTA MARKEPLACE for over 18 years.
Below is a macro view chart showing median sold prices over the last 5 years of the metro Atlanta real estate market. This display includes all areas, property types, and price points with no further breakdown.
We cover almost all North Atlanta markets – all areas north of Interstate 20 so if you have any questions simply reach out to us. Things have changed significantly and for the better in the years since the housing crash of 2008 -2012 – the Atlanta market began its come back in early 2013, peaking for sellers in 2017 and it has generally trended in favor of sellers as of Q1 2018. However, while =>3 months supply has always signaled a Sellers Market, many agents forgot (or did not know) to factor in Market Velocity and have overpriced homes more in 2018, and sent me more price reductions than anytime in recent memory. The market is slowly changing – call me for more details.
Regardless of your needs as a buyer or seller, we are able to break down the stats and trends in each market by school system, housing type, and by the neighborhood micro market down to the street level as required. Where necessary for the unique requirements in certain property transactions or unusual market conditions, we have relationships with, and utilize some of Atlanta’s most respected and established appraisers to assure we can better advise, back up, and protect our sellers listing price, and assist us in negotiating the best possible purchase price for our buyers.
Five Year Residential Price Trends – All Property Types – Atlanta Markets Metro Wide
Ten Year Residential Original List to Sell Price Ratios – Single Family – Atlanta Markets Metro Wide
These Sold Price percentage stats show an average of the Sold Price versus Original List Price – of course as a Buyers Agent, you want to look at the history of price reductions on the individual property in question. 2018 was the year of listing agents over pricing homes only to follow with subsequent price reductions.This chart also shows Atlanta’s post market crash return to parity occurring around Q 2 2013)
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