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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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Connect with Janet and the WOW Team to find out more about today’s real estate market.

Benefits of Working with WOW

The WOW Team and Keller Williams First Atlanta (KWFA) ~ The Benefits

  1. KWFA, The Rawls Group, has hired a statistician to study the quarterly statistics in our Atlanta Market.
  2. Quarterly stats come out 4 times a year.

Here are the Hi-Lights of the most recent 2014 Quarterly Stats (3rd quarter stats will be released early in November)

  • Keller Williams Top 5 Atlanta Real Estate Companies

    Graph #1

    KWFA continues to outperform the market ~ because of this we ARE a direct reflection of “what’s happening in the Atlanta market.” (see graph #1)

    • KWFA has 21% market share while the other top players trail with 5-8% market share
  • Market Sales are Down – 1.2% but basically flat from this same period in 2013
    • It is interesting to note that single family housing sales reflect a -4% over last year, but Attached housing had stronger sales than same period in 2013
    • It is also a result of homeowners electing NOT to sell because they don’t know where to move (inventory remains low in the highly sought after school districts) or they are opting to stay put as a more conservative approach to their post recession lifestyle
  • Inventory of housing stock is above the 6 month mark (see graph #2)
    • 6-7 months of inventory is considered a balanced market
    • The last time we saw 6 months of inventory was June 2012
    • Increased inventory is a sign of confidence with Buyers & Seller. Homeowners are finally digging their way out of being under water.
  • Graph #2

    Graph #2

    How Does this Affect You?

    • With higher inventory there is more competition in selling . . . We are no longer a “Sellers Market for many market areas … consult with the WOW Team regarding your specific are
    • The median sales price is nearly back to 2007 ~ however, this is because there are fewer distressed homes on the market, fewer investors and more luxury homes sales. (see graph #3)
    • School districts continue to drive sales ~ if you are in a highly sought after school district your home will experience higher than average sales price and less time on market
    • Graph #3

      Graph #3

      The Supply / Demand relationship is still a Seller’s Advantage with distressed properties (if you can find them!) . . . Quick action and serious offers are required when high-value properties are found. Expect multiple offers.

    • Strategies for Sellers: Maximize selling price and minimize market time by choosing an initial listing price that represents a high value compared to competing listings!
    • Strategies for Buyers: Don’t low ball offers on High-Value Properties

Our Best Always,
Janet Weidmann & The WOW Team!

For more information on North Fulton and its communities contact Janet Weidmann of the WOW Team.
Visit the WOW Team website to begin a Home Search or link and find the true “Market Value” of your home.

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