The fall market began before fall even started this year for Beacham & Company, REALTORS. The number of sales and dollar volume sold by the fi rm’s agents was up 25%in September, making it the best September ever in the history of the 11-year-old company and keeping it on track for another record sales year. Like the broader market, Beacham was boosted by sales in Buckhead and Cobb County, where the East Cobb and Smyrna areas remain as hot as they have all year long. The sales picture for the entire Atlanta market in September was not as rosy, however. The number of attached and detached single-family home sales in the five-county metro (Cobb, DeKalb, Forsyth, Fulton, and Gwinnett) was down 6.8% in September from the previous year, while closed dollar volume was down 1.8%. Areas that have been strong but weakened in September include Ashford Park, Dunwoody, and North Fulton County.
The summer issue of The Beacham Insider re-caps the record performance of Atlanta’s real estate market in the first half of 2017. This insightful issue digs deep into trends in the market such as the divergence in housing inventory above and below $800,000. We discuss the reasons why as well as predict how the market will fare in the coming months and years. We also examine performance of the market inside and outside the I-285 perimeter, a new take on the trajectory of interest rates, and the comparison of cost to own vs. rent in Atlanta.
In the January/February 2016 issue of The Beacham Insider, we re-cap the record year of 2015 in Atlanta real estate and look ahead to 2016. The greatest challenge to continued growth is a lack of adequate housing inventory. The months’ supply of inventory sank to a two-year, near all-time low last month. We also look at how changing demographics are having a ripple effect on the entire market and what can be done to ensure to best meet changing buyer demands. In addition, we ponder the upcoming presidential election and look to see how the terms of presidents have affected home prices over the last 40 years.
The spring issue of The Beacham Insider highlights the strong start to the selling season with home sales up 21% from March a year ago. We also look at why May is the best month to list your home for sale and why selling in 2015 may be a good idea with forces outside of real estate possibly dictating a less than favorable 2016 for real estate. We also re-cap the visit by Georgia State University economist Rajeev Dhawan’s to Beacham in March and hear his keys to the future health of residential real estate. As always, we analyze the sales data of Atlanta’s most desirable neighborhoods and see which areas are hottest.
The Atlanta average home sales price continues to hit all-time highs as we move through fall. However, the number of home sales is still well below the peak in 2006 (-25%) and has been declining for more than two years. However, things appear to be turning around. Through the end of October, there were 350 more homes closed in 2014 than 2013. If that margin holds, then 2014 will be the first year in three years with more closings than the previous year. Rising housing inventory is helping to restore balance in the market and should fuel continued sales growth. In this issue of The Beacham Insider, we look at Atlanta’s four most priciest neighborhoods. All of them have average sales prices of more than $1 million. We also take note of a fast-moving trend in condo sales that bodes well for future condo development and apartment conversions.
The Atlanta average home sales price reached an all-time high in July! This is an enormous milestone which comes seven years after the previous high in July 2007. The average is up 41.3% from the bottom of the market in 2011. The lack of housing inventory supply is the main reason prices have risen so far, so fast, although inventory is up more than 20% from two years ago. We compare the run-up in Atlanta home prices to the run up in the New York Stock Exchange and find that real estate is still the better value. We also explore key findings from the National Association of Realtors’ recent report on international home buyers, including the fact that less than 2% of homes in Georgia are to international buyers. We compare international real estate affiliations and find that Beacham and its Leading Real Estate Companies of the World partners outsell its Atlanta Fine Homes and Sotheby’s International Realty competitors by 11 to 1.