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! ūüėČ 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

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