Metro Atlanta Real Estate Market Update :: 3rd Quarter

November 20th, 2014
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One of the reasons we love The Rawls Group at Keller Williams is because of the amazing tools and educational opportunities we, as agents, are given! On Thursday, November 6th, we had the great pleasure of attending the 3rd Quarter Metro Atlanta Statistics Presentation at LeFont Theater with Shaun Rawls. We went through 89 pages of charts about the recent state of the Metro Atlanta Market. And, it’s good folks. It’s good!

Do you remember when you could put your house on the market for the price you wanted and get it? Well, those days are back! I won’t bore you with paragraph after paragraph of laborious details. However, I do want to touch on the highlights. It’s good to know whether you are buying, selling, or just staying put! Who doesn’t want to hear good news?

  • Keller Williams :: Since 2010, Keller Williams has remained #1 in market share of closed transactions in Atlanta! YTD, Keller Williams has 21.5% market share in Metro Atlanta. The next highest brokerage is at 8.1% market share.
    • Moral of the Story :: Do business with a Keller Williams team (particularly The Peters Company)! They are dominating the market!
  • Sales YTD :: Year to date 2014 sales are flat over the same period last year. Once lagged closings catch up, we may see a slight increase over 2013. Sales started out with a very slow 1st Qtr 2014 compared to the previous year. This was experienced nation-wide and Metro Atlanta followed suit.
    • Condos :: While detached sales were flat, the condo market is up 7.4%. Why? Because the median sales price of detached single family homes rose so quickly! Condos became a good value and opportunity for many people.
    • ITP :: Intown sales were actually up 14% overall. They’ve been the economic tow truck for the rest of the market.
    • New Construction :: New home sales actually made up 8.8% of 3rd Qtr 2014 sales. I’d say new construction is HOT!
    • Distressed Sales :: The percentage of foreclosures and short sales in 3 Qtr 2014 was -9.8 percentage points lower than the same quarter last year. 55% of distressed sales are in price points below $200,000. Gone are the days of deals… The deal is getting a  house! Did I mention multiple offers abound?
  • Inventory :: Whoa! We need inventory! We’re in a Seller’s Market with only 3.9 months of inventory. What does that mean? At our current sales rate, it would take less than 4 months to sell the current listing inventory if no other listings came on the market. Keep in mind that 6 months is considered a balanced market.
    • Perspective :: In May of 2008, Metro Atlanta had 39,615 listings. In September 2014, Metro Atlanta only had 15,517 listings.
    • Moral of Story :: Now is a GREAT time to sell! And, you’re thinking… Duh?
  • Sales Price :: Even though the 3rd Qtr 2014 sales were mostly flat, the median sales price rose 7.1% compared to 3rd Qtr 2013.
    • It’s baaaackk… The median sales price in September 2014 was higher than the previous high median September price reached in 2007. Back to the Good Ole Days!  We are setting new highs in price.
  • What Metro Atlanta Sellers Can Expect…
    • Sales to Original List Price Ratio :: With prices on the rise and decreased inventory, sellers are averaging 95.8 percent of their original list price.
    • Days on Market :: Continued low supply in 3 Qtr 2014 helped maintain a lower days on market median at 45 days.
    • Incidence of Price Reductions :: With limited inventory, sellers are starting to push the envelope on prices. In 3 Qtr 2014, Metro Atlanta increased to 41.4% of properties taking a price reduction from 37.2% in 2nd Qtr 2014.
  • What Peters Company Sellers Can Expect…
    • Sales to Original List Price Ratio :: We’re outperforming the market. On average, we’re receiving 97.8% of original list price! Our seller clients are getting 2% more than the average Atlanta agent is getting their clients!
    • Days on Market :: Yet again, we’re outperforming the market. On average, we’re selling homes in 17.5 days! Our listings are selling in almost a month less than the average Atlanta agent. Just think… That’s another mortgage payment.

For sellers, the news is GREAT! If you price correctly out of the gate, you can expect to arrive at a sales price very close to your list price and minimize showings to a few short weeks! What are you waiting on? Call Andy at 404-419-3619 to get the ball rolling on selling your home today!

Just Listed :: Charming Split Level in Sandy Springs!

November 5th, 2014

6540 Wright Circle Flyer front6540 Wright Circle Flyer back

 

Welcome home! This charming split level home in Sandy Springs’ popular Whispering Pines neighborhood is just what you’ve been looking for! Convenient to Sandy Springs’ finest attractions, you will be in the middle of it all including prestigious shopping, award-winning restaurants, and exciting nightlife. Easy access to I-285, I-75, and GA400 make virtually all commutes a breeze. Nearby hotspots include City Walk, Heritage Park, and the new Abernathy Greenway!

 

Features:

  • The kitchen features granite counters, modern cabinetry, stainless steel appliances, pantry, and breakfast bar.
  • The separate dining area is ideal for entertaining.
  • A spacious living room is filled with tons of natural light.
  • The master bedroom has dual closets and an updated bath which connects to an additional upstairs bedroom.
  • Two additional bedrooms on the lower level are well-sized and bright.
  • The basement has a cozy wood burning fireplace and extra storage in the workshop/utility area.
  • A huge backyard boasts a patio perfect for outdoor enjoyment.

 

Just Listed :: Renovated Mid-Century Modern in Lavista Park!

November 3rd, 2014

1360 Lavista Road NE Flyer front

1360 Lavista Road NE Flyer back

 

Just what you’ve been looking for! This home nestled in Lavista Park is waiting for you! Originally built in 1950, this great home takes what’s old, restores it, and makes it so much better thanks to a recent renovation. Its flowing floor plan, custom features, and charming character will never go out of style. The close proximity to I-85, I-75, and GA400 makes it convenient to and from any direction. Being in this booming area of unincorporated Dekalb County also means you get to live as close to the city as you can without the     escalating tax bills associated with Fulton County and the City of Atlanta. You’ll enjoy being only minutes from many restaurants and shopping spots too!

Features:

  • Many thoughtful touches and custom features throughout.
  • Kitchen features new stainless steel appliances and convenient breakfast bar.
  • The separate dining room is perfect for entertaining.
  • A wall of windows pours sunlight into the large living room complete with wood burning fireplace and rustic rough cut mantle.
  • Master bedroom has spacious closet and an updated bath.
  • Additional bedrooms are well-sized and bright.
  • Built-ins in the hall and bathrooms provide plenty of   extra storage.
  • A huge backyard boasts a patio and out building with   power.
  • Deep lot with long driveway provides nice privacy.

 

Just Listed :: Charming Contemporary in Ashford Park!

October 13th, 2014

2671 Caldwell Road NE Flyer front

2671 Caldwell Road NE Flyer back

Welcome Home! Nestled on a quiet bend of a popular street in Ashford Park, this home has been well maintained over the years. The custom features and charming character of this home will never go out of style. The close proximity to Peachtree Road, I-85, and GA400 makes it convenient to and from any direction. Did we also mention that you are literally only minutes from all your favorite hot spots at Village Place Brookhaven including Haven, Valenza, Verde, Kaleidoscope, and Pour?

Features:

  • Thoughtful touches and custom features throughout.
  • Kitchen features granite counters, stainless steel appliances, pantry, and breakfast bar.
  • Spacious living room has vaulted ceiling and gas starter fireplace with stone surround.
  • Separate dining area is perfect for entertaining.
  • Master suite is a true retreat including a walk-in closet with Elfa shelving and master bath with granite vanities.
  • Additional bedroom is well sized and bright.
  • Basement has stone fireplace and provides great additional living space.
  • Two car garage a bonus for the area!
  • Wonderful outdoor space includes a wrap around deck overlooking the wooded backyard.
  • Fresh interior and exterior paint
  • New carpet in both bedrooms.

 

 

 

Just Listed :: Charming Ranch in Duluth Swim/Tennis!

October 8th, 2014

3495 River Summit Trail Flyer front

3495 River Summit Trail Flyer back

Welcome home! Quiet and convenience abound in this wonderful home! This open floor plan with custom features and charming character will never go out of style. The close proximity to I-85, Peachtree Industrial Boulevard, and Buford Highway makes this home convenient to and from any direction. Nearby attractions include Gwinnett Place Mall, Discover Mills, and the Gwinnett Arena. The home is nestled between great neighbors in a bustling swim/tennis neighborhood.

Features:

-Single level living with a great flowing floor plan.
-Recently remodeled kitchen features granite counters, stylish backsplash, island, breakfast area, and pantry.
-Spacious living room has vaulted ceiling and gas starter fireplace.
-Separate dining room is perfect for entertaining.
-Master bedroom is a true retreat including a vaulted ceiling, walk-in closet, and bathroom with double vanity, heated floors, garden tub, and separate shower.
-Two additional bedrooms are well-sized and bright.
-The patio is ideal for outdoor enjoyment and entertaining.
-A two car garage easily fits vehicles and has extra storage space.
-Wonderful community amenities include a pool, tennis courts, lake, and playground.

 

 

Congratulations, Patrick! Your Briaridge home in Lakeside HS is SOLD!

September 29th, 2014

2891 thornbriar

Congratulations, Patrick! After 11 days on the market, your Briaridge home in the beloved Lakeside High School district is officially SOLD! We can’t tell you how much we appreciate you finding us on the internet, reading and trusting our past Kudzu.com reviews, and hiring us to get your home SOLD! It was a pleasure working with you! And, it’s no doubt that your home was well-loved with a back-up offer to boot! Thank you for your trust in us! We hope to work with you again in the future!

Congratulations, Doug and Holly! Your Buckhead Townhome is SOLD!

September 29th, 2014

76 ivy pkwy

Congratulations, Doug and Holly! Your Buckhead townhome in The Ivys neighborhood is officially SOLD! Lesley and Andy had the great pleasure of helping Doug purchase this great townhome in the real estate downturn years ago! At that time, Doug didn’t have an agent and his mother helped him find us on Kudzu.com! Once she found out we were Furman grads, she was SOLD! HA! :) We are so thankful Mrs. Hodges found us and that Doug bought this great townhome when he did! A superb investment! We wish Doug and Holly the best in their move to California and as they begin their very own family!

Congrats, Barney and Ellen on your new home in Orchards of Roswell!

September 29th, 2014

Congratulations, Barney and Ellen on your fabulous new home in Orchards of Roswell! What a great home in a fantastic location! We are thrilled for you guys and look forward to helping you get your Marietta home sold this month!  We sincerely appreciate your daughter Robyn and son-in-law Josh referring us! What a treat to get to work with your entire family over the past few years! Thank you for your trust in us!

Just Listed :: Beautiful John Willis Home in Smyrna

September 26th, 2014

2861 Bernard Lane SE Flyer front

2861 Bernard Lane SE Flyer back

Welcome home! Spring Street Village is a wonderful neighborhood in the incredibly popular and fast growing Smyrna area of Cobb County. The open floor plan, custom features, and charming character of this John Willis built home will never go out of style. The close proximity to I-285 and I-75 makes this property convenient to and from any direction. You’ll also have easy access to the other highways, byways, and activities that make this location such a well-loved destination. You will certainly enjoy being only minutes to Smyrna Market Village, Vinings shopping, and several city parks.

Features:

  • Loaded with craftsman touches, custom features and a great open floor plan.
  • Kitchen features stainless steel appliances, marble counters, pantry, and breakfast area.
  • Separate dining room is perfect for entertaining.
  • Hardwoods floors on the main level.
  • Spacious family room has built-ins and gas fireplace.
  • Master on main is a true retreat including a trey ceiling and large walk-in closet.
  • Master bath has a double vanity, garden tub, and separate shower.
  • Three additional bedrooms on the second floor are well-sized and bright.
  • The two car garage easily fits vehicles with ample space for storage.
  • The covered patio and fenced backyard are ideal for outdoor enjoyment and entertaining.
  • Home fronts beautiful and serene Durham Park.

 

 

Congratulations, Haven REI! Your Telford Manor New Construction is now SOLD OUT!

September 26th, 2014

IMG_2941

What an exciting adventure it was to help Haven REI in the acquisition and sale at Brookhaven’s Telford Manor neighborhood! Over 2 years ago, talks began for Haven REI to purchase two lots in Brookhaven and subdivide them into 4 homes! We had the great pleasure of helping Haven sell these lovely homes. The last one at 2336 Coosawattee Drive in Brookhaven is officially SOLD! This gorgeous new construction home even featured a future option to build out the 3rd story attic into additional living space. The street scape has sure changed on Coosawattee and Telford thanks to Haven REI’s development of these new beautiful homes!

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