In 1st Quarter Last Year (2014), the real estate market (nationally and locally) experienced a dip! Coming off of a HOT 2013 market, everyone was a little shocked (including me)! It could have been the extreme winter that kept homebuyers from pulling the trigger. Remember Snowmaggaden 2014! Or, it could have just been an unexplainable blip in the radar. Whatever it was, 2014 turned out to be a great year for the U.S. housing market as 4.93 million homes were sold while national home prices appreciated by 5.8%. Not to mention, interest rates remained at historic lows making housing affordable!
So, you’re wondering… How does January 2014 compare to January 2015?
Let’s check it out…
- 13% More Metro Atlanta Homes for Sale this January
- 4.4% More Metro Atlanta Homes Sold this January
- Metro Atlanta Foreclosures Down 2.6% to 6.3%
- 5-10% distressed sales is normal
- Metro Atlanta Short Sales Down 8.3% to 4.7%
- Theoretically, by 2016, all homes should be back above water
- 3.8 Months of Supply remains very stable year over year
- Anything under 6 months of supply is a sellers market
- Metro Atlanta Median Original List Price is up 10% to $229,900
- Still rising due to low supply
- Metro Atlanta Median Sales Price is up 11% to $215,000
- Metro Atlanta Median Sales/List Price Ratio remains around 95%
- Metro Atlanta Median Days on Market is up 21.5% to 62 days on market
All in all, January was a great month! 12,773 Metro Atlanta homes sold and prices were on the rise! At The Peters Company, we experienced the exact same thing! We sold more homes and took more listings in January than we did in January 2014!
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!