3 THINGS TO KNOW... Sept 2021 Numbers: What They Predict for Spring 2022

3 THINGS TO KNOW about the Atlanta Residential Real Estate Market

3 THINGS TO KNOW

Sept 2021 Numbers

What they indicate is happening inn residential real estate on the ground in Atlanta

This Jere Metcalf bringing you, for JMPartners at Atlanta Fine Homes Sotheby’s International Realty, 3 things to know about the residential real estate market in Atlanta.

Last week we talked about

Preparation, the first of the 3 P’s to get the premium price for your property..

The other 2 P’s being Presentation & Price

We’ve promised and will go more in depth as well on those 2, presentation and pricing, in upcoming episodes.

In the meantime,

It’s early October and the September #’s are out…

This week, looking at the Sept #’s we’re going to talk about:

3 things…

#1. Sales prices

#2. How long are homes taking to sell… days on market

#3. Number of homes selling

We’ll also take a look at what inventory and what’ it’s doing to help us understand these numbers and what is happening in the market what is likely to come.

*TO NOTE:* These numbers and statistics are being pulled for metro atlanta from FMLS, the multiple listing service for Atlanta

1) Sales prices

Sept 2020 to 2021, Year over year, our median sales price is up 14%

Looking at the seasonal Trend…

September is fall, fall #’s usually show a softening market.

Sept 2019 , pre-covid…

We were in a strong market reflecting the traditional pattern, softening in the fall season.

The median sales price dropped from $265,000 in August to $255,000 in September

Fall 2020. Post ‘covid quarentine’,

prices trended upward.

in August 2020 med sales price was $290,000

September 2020, med sales price was $294,000.
and this year, 2021

August '21 median sales price was $340,000,

the median sales price in September was also $340,000

that’s the same sales price month over month

in the season that is typically showing a downward trend is sales price.

#2

days on market

that’s the number of days a home is on the market before it goes under contract to sell. (AND CLOSES)

2019 - homes were taking on average, 22 days to sell in August

and a little longer, 24 days in September

2020 - - homes were taking on average, 15 days to sell in August

and a little faster, 13 days in September

2021,

Homes are now taking only 7 days on average to sell … that’s for homeS sold in August and homes sold in September.. days on market remains the same month over month this fall, the season that is usually softening and increasing in average days on market.

More impressive,

looking at the averages,homes are selling twice as fast this year as last year, an 3 times faster this year than two years ago 2019…

When they were already selling quickly

#3 Number of home sales

2019

In August, there were 8,922 home sales,

the following month, September, that # was down by almost 1,000 homes, 7,955

month over month trending downward as usual in the fall season

2020,

a hot booming market, the hottest market, including fall that atlanta has seen,

sales in August were 9,793 and actually dropped to 9,365 in September.

2021

August 2021 there were 9,367 home sales, in September 2021, the count so far shows 8,156, month over month trended downward

Year over year,

Home sales are down about 10%

Something to note,

notice the total sales I just quoted were 9,367 in August,

when I reported this number early September,

before all #’s were in for August….

This is important to mention to note that