Metro Atlanta Real Estate Update :: February 2015

February MMO 2015

One of my favorite parts of my job is analyzing data! I’m the weird one on the team. HA! 😉 Here at The Peters Company we had an amazing February. So, I’m always interested to see how the rest of the Atlanta market performed. 

So… How does February 2014 compare to February 2015?

  • 10% More Homes for Sale this February
  • 2.2% More Homes Sold this February
  • Foreclosures Down 2.8% to 6.8%
    • 5-10% distressed sales is normal
  • Short sales Down 8.3% to 4.8%
    • Theoretically, by 2016, all homes should be back above water
  • 4.2 Months of Supply (7.7% higher than last year)
    • Anything under 6 months of supply is considered a sellers market
  • Median Original List Price is up 12.1% to $229,900
    • Still rising due to low supply
  • Median Sales Price is up 13.2% to $214,990
    • 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 around 99%)
  • Median Days on Market is up 12.5% to 63 days on market (Here at The Peters Co we’re around 18 days on the market)

All in all, February was a great month! 12,508 Metro Atlanta homes sold and prices were on the rise! And, although these numbers above pertain to single family detached residences, we continue to see fabulous improvements in the condo/townhome market. Here’s a sampling of some of the good news out of the condo/townhome market:

  • 8.9% More Condos/Townhomes Sold this February
  • Distressed Condo/Townhome Property Sales are Down 13.1%
  • 3.1 Months of Supply (even lower than detached residences)
  • Median Original List Price is up 10.9% to $176,950
  • Median Sales Price is up 14.7% to $172,000
  • Median Sales/List Price Ratio remains around 96.3%
  • Median Days on Market is down 12.8% to 41 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! 

Written by Lesley Peters, The Peters Company Managing Agent

Share This Post

Archives

These free (and highly detailed) reports will give you access to professional real estate reports and market outlooks.

No Thanks. I don't want VIP updates.

OUR VIP NEWSLETTER

Stay Updated! Get Georgia's Latest Real Estate News and Updates Before Anyone Else.

X
X