Greater Atlanta 2nd Quarter 2021 Housing Market Report

The current Atlanta area real estate market is about as fluid as we’ve seen over the last thirty years. The need to dig deep into the data cannot be overemphasized; things look one way when viewed as a block but often look an entirely different way when boiled down into micro markets. When that’s done, buyers and sellers will see that looking at data broadly by county, city or zip code is often different when looking at it narrowed by price range, school district or physical characteristics.

1^st QTR 2021 vs 2^nd QTR 2021

“Shifting Markets” are routinely talked about, comparing the first and second quarters of the 2021 Atlanta area real estate market is a text book demonstration of that. The posts below were written as it happened; we saw it anecdotally with clients at the time. Buyers were brutalized during the first quarter; we kept pulling them off deals that became unrestrained bidding wars. Our sellers on the other hand, were presented with offers removing all contingencies with prices 15-20% over already inflated listing prices. The second quarter significantly eased that buyer brutality; still a seller's market but the frenzy has lightened a bit. The quarter over quarter comparison is highlighted by these posts:

Inventory Climbing & Contracts Falling Midway Through '21

Sellers Control the Deal with Accurately Priced Homes

7 Major Reasons Buyers Lose Homes

Not a Bubble but Some Will Shed Tears

2^nd QTR 2020 vs 2^nd QTR 2021

Looking back year over year shines a very different picture of the markets. Covid was shutting things down in the 2^nd QTR 2020; in 2^nd QTR 2021 things are opening back up (maybe). The comparison at this level – both year over year and by general region alone – shows the more familiar refrain the mass media is pushing; “very tight real estate market with continuing appreciation”. At this level considering the macro data, this is largely true. Here's a macro look at the Greater Atlanta real estate market for this quarter compared to last year at this point. Click the image...

Key Points

• Broad data is fine but the only data that matters is what’s applicable to the current situation. A first move up home in Milton and an equestrian home on acreage have nothing in common other than a Milton address.
• Track the data by year and by quarter, compare and contrast the results with the “real world”
• Work only with professionals. Standards to get a sales license are comical; why are there more agents than homes listed for sale? (because the industry runs on fees, not sales)
• Work with a professional and LISTEN to them. Buying or selling a home is a major business transaction, treat it that way. Who is handling your  hundreds of thousands of dollars?

Tags

• market conditions (31)
• how's the market (3)
• market trends (2)