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.
Click here to read more in the April 2015 issue of The Beacham Insider.
Our year-end report on Atlanta real estate reveals that 2014 was the first year since 2011 in which home sales were higher than the previous year. Beacham & Company outperformed the market as the firm’s home sales were up 14.6% from 2013 while overall Atlanta home sales were up just 1.9%. Predictions for 2015 are very favorable due to rising housing inventory levels and a slowing in home price appreciation. In fact, an economist with the Federal Reserve Bank of Atlanta notes that “Atlanta is the most affordable housing market in the country.” We also examine demographic trends influencing home sales including the rise of Millennials and singles as a new force in the marketplace.
Click here to read more in the February 2015 issue of The Beacham Insider.
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.
Click here to read more in the November 2014 issue of The Beacham Insider.
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.
Click here to read more in the September 2014 issue of The Beacham Insider.
Spring is here, so why are Atlanta real estate sales trending downward? Find out why in the April 2014 issue of The Beacham Insider. We also discuss Atlanta’s changing demographics and how an aging population is putting pressure on high-end sales. We also explain why Zestimates are so inaccurate and why the advice of an agent results in a 59% greater average sales price than properties not listed by an agent. We also review Atlanta’s top selling neighborhoods over the last five months – the hottest neighborhoods being Ashford Park, Garden Hills, Morningside, and Virginia-Highland.
Click here to read more in the April 2014 issues of The Beacham Insider.
The December 2013 of The Beacham Insider takes note of the first year-over-year increase in metro Atlanta’s single family detached housing inventory in seven years. The Insider predicts what this will mean for Atlanta real estate in 2014 as well as what are the most desirable features of a home in today’s market. The Insider also demonstrates why it’s important for sellers to list in the MLS system and to list in January to get a jump on the rest of the market.
In reviewing the performance of the Atlanta real estate market over the last two months, the Insider notes that sales of single family detached homes were down -4% from the same period a year ago while prices were up 17%. Condo sales were up 7% while condo prices were up 33%. Top performing markets included Midtown, Sandy Springs and Vinings.
Click here to read more in the December 2013 issues of The Beacham Insider.
The average home sales price in Atlanta continued a streak of double digit year-over-year gains this summer, but sales remain well below 2012 due to a persistently low number of homes for sale. Sales of single family detached homes were down 6% in the three month period from June to August compared to the same three months a year ago, while the average sales price was up 23%. Among the Beacham Bellwethers, an index created by Beacham & Company to track the most desirable areas of Atlanta, sales were up 21% from a year ago, while prices were up 19%. Most neighborhoods and communities in the Beacham Bellwethers are in highly rated school districts and are convenient to major job centers within the metro Atlanta area.
Click here to read more in the October 2013 issues of The Beacham Insider.
The September 2013 issue of The Beacham Insider breaks down the 12-month streak of double digit percentage gains in the average home sales price in Atlanta. The average sales price of homes priced less than $1 million is up 29%, while the average price of homes priced more than $1 million is only up 7%. The difference in the two has to do with inventory; for the sub-$1 million market, inventory is down 12% from last year and at an all-time low while the inventory of homes priced more than $1 million is up 6%. This issue also examines why the fall is a great time to list your home, and how historic jumbo loan rates are helping to boost the high-end real estate market.
Click here to read more in the September 2013 issue of The Beacham Insider.
The latest edition of The Beacham Insider takes a look at how Atlanta home prices continued to shoot higher in the first five months of 2013. The average home sales price for the first five months of 2013 increased 25% from the same period a year ago. Conversely, home sales are down 10% from last year. Both situations are primarily due to a severe lack of inventory – perhaps the lowest amount of housing inventory in Atlanta’s history relative to population. The top performing areas of Atlanta have at least one thing in common: top performing public schools. On the luxury side of the Atlanta real estate market, the situation is quite different. Sales were up 46% but the average sales price remained unchanged from a year ago. We take a look at five global trends in the luxury real estate market in this edition of The Beacham Insider along with the big announcement that Beacham has joined the prestigious Luxury Portfolio International marketing affiliation.
Click here to read more in the June 2013 issue of The Beacham Insider.
Atlanta home prices extended a streak of year-over-year gains to seven months and the rate of appreciation accelerated with prices rising 22% in October 2012 compared to October 2011. In fact, Atlanta home prices are now rising faster than the rest of the country according to the National Association of Realtors. The key factor driving the market is a drastic lack of inventory. The number of homes on the market is the lowest in 12 years according to FMLS. It would take just four months to sell all the houses on the market in Atlanta at the current rate of sale. Some parts of the market are not performing so well, however. Sales of homes priced more than $3 million are down 67% from 2011, while sales of homes priced more than $2 million or more are down 33%. There currently is a nearly four-year supply of inventory of homes priced more than $2 million.
Click here to read more in the December 2012 issue of The Beacham Insider.