North Atlanta Real Estate Update

As real estate experts in the north Atlanta market, we monitor the market constantly. In order to provide our clients with the best service and expert advice possible, we stay up to date on the latest market trends and statistics regularly. Here are some interesting and relevant stats on the current housing market. Like any statistic, the data itself is not very meaningful unless you understand the context and what it actually means for the market. That’s why our clients hire us!

1st quarter 2014 sales are down 7% from the same quarter in 2013, and down 12% from the same quarter in 2012.

residential real estate sales

Analyzing quarterly sales by sales price range shows that the reason for lower overall sales in the 4th quarter was the 37.6% drop in sales of properties priced below $100K.

All price ranges above $200K increased in sales and the shift toward larger portions of purchases in higher price ranges caused the median sales price for all properties to increase again in the 1st quarter of 2014 compared to the same period last year.

graph of homes sold

Even though 1st quarter 2014 sales were lower, the median sales price rose by 16.5% compared to 1st quarter 2013, up to $198,000. An increase in the percentage of sales in price ranges above $200K compared to last year resulted in a higher median price.

median home sale prices

Continued low supply in the 1st quarter of 2014 lowered the median number of Days-On-Market (DOM) by 14.2%  to 66 days, compared to the same period of the previous year, which was higher than any of the previous 3 quarterly periods.

real estate DOM
These real estate statistics are for the metro Atlanta market overall.  However, all real estate is local and housing trends can vary widely from area to area and even within the same high school district. In order to get the most accurate picture of your local real estate market, contact Barry Wolfert and Lisa Wrenn today!