One of the benefits in working with the WOW Team and Keller Williams is that we have hired a statistician to study the quarterly statistics in our Atlanta Market. First Quarter Stats just came out and I would like to share some of the applicable points to all my clients. I hope you find these findings of value. We strive to keep you always informed and updated.
Hi-Lites of 1st Quarter 2014
- KW First Atlanta (KWFA) has 20% market share while the other top players trail with 8-10% market share.
- This is partially due to the low end homes not flooding the market and investors getting out of the market.
- A result of homeowners electing NOT to sell because they don’t know where to move or they are opting to stay put as a more conservative approach to their post-recession lifestyle.
. . . but this will change as the population in Atlanta increases due to the technology hub in Alpharetta, sports and corporate headquarters, etc., etc.
- The chart right also shows the “TRY-ers” are many and the SELLERS are fewer. The “try-ers” are not going away . . . they still have houses to sell and will be out there again and again in the future.
- There is a margin of error in a Buyers’ market so trying a higher price initially is conceivable.Emotion drives Buyers in a Sellers’ Market.
- After trying the market sellers should adjust of understand the consequences . . . so . . . in effect this means . . . In all price points it’s okay to try a price but if after 2 weeks the market responds without an offer then it is important to adjust. (In past Buyers markets with HIGH inventory) it was most important to get the price right immediately.
- LOGIC drives Buyers in a BUYERS Market; for all the sellers who are in a Buyers’ market (500,000 and above) one needs to make adjustments in price sooner to secure a buyer.
- Furthermore it is important to note that supply of inventory has increased in every price category from 2013.
My best always,
Janet Weidmann, REALTOR
WOW Team Keller Williams Realty First Atlanta