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.
(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:
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.
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)
Looking 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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