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Archive for the month “November, 2014”

See Around Corners – The WOW Team and 3Q Real Estate Statistics

Maximize your evaluation
of current prices.

Why are statistics so important? Stats help us see around corners. As professional REALTORS ~ The WOW Team wants to better predict what to look for and how to plan and strategize for pricing property and negotiating on the buying side.

Understanding 3 market views allows Buyers to maximize their evaluation of current prices, and allows sellers to position their property to maximize their sale price with less time on market.

The Three Market Areas:
A) The Macro View
(National Market as reported in National Media coverage)
B) Metro View
(Atlanta Market as reported by FMLS statistics and our hired statistician ChartMaster Services, LLC
C) Micro View
(Your community or neighborhood as reported through a comparative market analysis and FMLS stats)

 

ChartMasters Services Reports 3Q Stats:

Top 5 Atlanta Companies - Keller Williams

Historic indicators predict this activity will ripple out to the suburbs.

Cumulative Market Sales for 3rd Quarter 2014 mirrors 2013 same period.  However, Keller Williams agents sales are up nearly 10% above other companies.  (see graph left – KW is indicated in RED)

We are watching in town condos where sales are 14% above 2013.  Historic indicators predict this activity will ripple out to the suburbs. As single family houses become more expensive due to short supply, condos and townhouses become more attractive.  Condo prices are going up because detached single family prices are going up.

The Atlanta market is in a “self leveling market” which simply put, means there are no extenuating indicators to give sharp up or downward momentum. 1-7% is a normal market for measuring an increase of median pricing.  The median sales price rose by +7.1% in 2014.

Keller Williams Median Sales Price History

The median sales price was higher in September 2014 than the previous high median September price reached in 2007! WE ARE BACK!!

The chart attached (right) shows our median sales prices shown monthly, and by year.  2014 is indicated with the red line and shows that the median sales price was higher in September 2014 than the previous high median September price reached in 2007! 
WE ARE BACK!!  

As we move toward the 4th quarter we are experiencing the seasonality of the market and any sudden global or national factors could expose the fragile nature of this recovery. (Below)

KW_3_Qtr_Stats_p_18Looking back  (2008 through 2014) on the activity of closed sales and the seasonality of the market the chart above shows we have consistent sales throughout the years, regardless of what kind of market we are experiencing. The blue bars at the bottom indicate the number of closed sales.  The red bars indicate the amount of inventory.  So, listing your home say in December could be a good thing since inventory is so low and there are still Buyers looking for good homes.

How does all this play out in community?  If you want more in depth information of months of inventory, or sales… we have those stats too.  This report is more of an overview for the Atlanta Market.

The good news is that prices are still attractive and interest rates are comparatively low.  It’s still a great time to get into the market!!

The WOW Team will continue to re-evaluate market trends and look around corners so you don’t have to!

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Exciting things are happening in Roswell Georgia

Greenspace & Planned Community!

Duke Land Group - Roswell Riverwalk Village

Duke Land Group seeks rezoning of 104 acres near Holcomb Bridge Road & Ga. 400. (image: Duke Land Group)

Riverwalk Village an ecologically focused development has been haled as the most up and coming pedestrian friendly community in Atlanta!  I am thrilled to hear this development will incorporate the existing river park along Riverside Rd to residential homes, offices, schools, shops, hotel & restaurants and greenspace all within an easy on/off of HWY 400 and Holcomb Bridge Rd.  I am even more excited to hear the bike paths and pedestrian trails will eventually link with the Big Creek greenway with a proposed tunnel under Holcomb Bridge Rd.  Finally, Atlanta will rival other cities with a coherent plan for alternative bike paths and greenspace within a beautifully planned community!

What about traffic?  With an early off ramp you will be home ~ less traffic on Holcomb Bridge Rd., easier commute and potentially with more Class A office space in Riverwalk Village means more options for working in the immediate proximity of your home!

Should existing homeowners with the larger lots
be concerned for future resale?

I would say, ‘not to worry!!’
There will always be buyers who want privacy, larger home lots w/ mature trees and the traditional home.  Although the housing trends are pointing to more communities like Riverwalk Village, homeowners must also recognize that in these newer communities you will be experiencing a more urban lifestyle with closer proximity to neighbors and less privacy.  Recognize that there are all sort of buyer profiles and land is a finite entity.  Those of us on larger pieces of property will always have a unique value proposition.  Dirt prices continue to rise and Buyers will always be weighing their options between the various community options.

Watch for more updates as things begin to move forward.
The WOW Team will alert you to community meetings as more news of the development unfolds.

The WOW Team hopes everyone has a wonderful fall season!

Like the WOW Team Facebook page and keep up with our latest news.
Connect with Janet and the WOW Team to find out more about today’s real estate market.

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