May Metro Atlanta Real Estate Market Overview

MMO May 2015

May was magical for the Atlanta Real Estate Market and for The Peters Company! 17.4% more homes sold this May than May 2014. And, it’s no surprise to us. At The Peters Company, we helped 18 families buy and/or sell this month alone.

So… How did May 2015 compare to May 2014?

  • 1.5 % More Homes for Sale this May
  • 17.4 % More Homes Sold this May
  • Foreclosures Down 3% to 6.5%
    • 5-10% distressed sales is normal
  • Short sales Down 6 % to 3.7%
    • Theoretically, by 2016, all homes should be back above water
  • 3.9 Months of Supply (Down 13.3% from last year)
    • Anything under 6 months of supply is considered a sellers market
  • Median Original List Price is up 6.6% to $239,400
    • Still rising due to low supply
  • Median Sales Price is up 7.6% to $225,000
    • Continuing a trend of higher median sales prices in a low-supply environment
  • Median Sales/List Price Ratio remains around 95% (Here at The Peters Co we’re at 98.4%)
  • Median Days on Market is nearly flat from last year at 62 days (Here at The Peters Co we’re at 7 days on the market – Yep not a typo… 7 DAYS!!!)

And, in case you’re interested… The Metro Atlanta condo market’s very own statistics:

  • Sharply Higher Condos/Townhomes Sold Compared to Last Year (Up 28.5%)
  • Distressed Condo/Townhome Property Sales are Down 11.4 %
  • 2.4 Months of Supply (even lower than detached residences and a SERIOUS sellers market)
  • Median Original List Price is up 9% to $179,900
  • Median Sales Price is up 10 % to $175,000
  • Median Sales/List Price Ratio remains nearly flat around 96.9%
  • Median Days on Market is down 11.4 % to 39 days on market 

If you’ve been thinking of buying or selling and just want to chat about the market in your neighborhood, we’d love nothing more than to hear from you! We can give you a free and highly accurate opinion of value. Give us a call at 404-419-3619 today! 

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