Market trends and housing reports around North Atlanta

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Interpreting real estate stats is a nuanced business; like all things statistical, the devil is in the details. We'll keep the devil at bay here as we look at less common indicators of housing market strength north and west of Atlanta. How does list price compare to sale price? How many homes are selling and how long does it take? Alpharetta, Roswell, Johns Creek and Cumming are featured to the north. Marietta, Woodstock, Canton and Kennesaw are featured to the west-northwest. City designation is the only criteria, this is broad and if we drilled down, we'd likely see different price points act differently. We cover from January 2020 to present and look at sale to list price ratio, number of closed sales and average days on market. Scroll over the charts…

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Home prices continue to push higher than any time in history; yet real estate appraisals continue to be a problem. Low appraisals despite record appreciation? How is this possible with next to no low inventory, ravenous buyers and bidding wars? As it was just over a decade ago, the disconnect between appraisers, agents and the public remains. This time the economic conditions are different and the public has more exposure to data but the appraisal process remains a mystery.

The Role of the Appraiser

The appraiser represents the buyer’s lender; they do not work for the buyer, the seller or any agent. Their job is to ensure that if the lender has to foreclose on the property, the amount they lent to the buyer can be recovered. Appraisers follow…

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Few will argue that the last 18-24 months in the real estate world have been bonkers (mid '19 to mid '21). Prices skyrocketed and inventory disappeared; no one saw this coming. However, few seem to abide by the three rules of real estate: location-location-location. National housing market reports from outlets like Case-Shiller, Redfin and Zillow are taken literally; they shouldn't be. Rapid appreciation is exactly what everyone wants, so for now, buyers and sellers line up and spew Zillow stats like gospel. Except it doesn't work that way. Real estate isn't a share of Amazon; every home is unique physically and locationally. National reports are meaningless; state reports are meaningless; local reports get a little closer but are still largely dubious.…

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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.

1st QTR 2021 vs 2nd 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…

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The north Atlanta housing market is cooling just a bit, this is supported both anecdotally and by the data. The pent up buyer demand is being offset by increasing inventory. It's still a seller's market; but it seems to be slowly trending toward balance as the year unfolds. The challenge of "easy to sell, hard to buy" remains; after a year of updating and enhancing homes, owners seemed content to stay put. But some may be getting restless because inventory is growing. Homes under contract in many Atlanta markets have been in decline (nationally as well), buyer demand easing...increasing inventory...maybe a move toward balance?

Below we look at a couple of sample markets north of Atlanta; Cobb County and the combination of Cherokee and Forsyth Counties.…

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Pigs get fed and hogs get slaughtered. Not every home is going to attract viscous competition, even with historically low inventory. Buyers are willing to pay handsomely for renovated and well maintained homes, for homes in highly desirable settings, for high quality well-built homes and for homes that offer something unique that draws them. The idea that sellers can simply put a price on a home and buyers will jump isn’t reality. The media however, has sellers convinced it’s a “name your price” environment. It’s not. Sellers that accurately price their homes will do the best, not just with price but by controlling the transaction. Sink that hook deep, set the rules for the game and tilt the table. An accurately priced, well presented home will draw…

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Right now, early June 2021, home buyers around the northern Atlanta market have no hand. No hand, and for the vast majority, no chance. We’re on both sides of this market; the chasm between buyer and seller could not be wider. List price is often a suggestion and home buyers have to concede just about everything – immediately and without reservation. We’re seeing buyers move down to gain strength; 500K-600K buyers move to 400K-500K. This allows for higher offers and larger down payments. We look for very specific concessions and terms when representing sellers, fast and clean rule the day right now. These are 7 brutal truths buyers must consider…

Cash is King

Cash buyers move to the front of the line. Why would a seller deal with a buyer that may…

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By most measures, this insane housing market isn’t likely to implode like a decade ago. That said, while it may not be not be a housing bubble, some buyers that fail to use common sense will shed tears. Unfortunately, the tissue box is most likely to be used most by first time home buyers who lack previous home buying experience. Unlike a decade ago, lending standards remain generally tight; buyers actually have to qualify for mortgages. The level of inventory now is a fraction of what it was pre-crash ten years ago. But demand is stronger, rates are lower, the Federal Reserve continues their “hold” position and the federal government is in a spend and giveaway mode. Buyers in this environment must be focused, use an agent that isn't just chasing a…

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It's Spring of '21 and there's no relief in sight for the shortage of housing inventory around the greater Atlanta area. The usual first quarter bump was virtually non-existent for 2021, instead the deserted landscape continues to have buyers frustrated and sellers delighted. We continue to look at year over year (by month) key indicators for 16 major markets around north Atlanta. We've examined them in terms of the number of homes for sale and also tracked steadily increasing home prices, (both pages continuously updated). Below we look at the current data in terms of "months of inventory". Months of inventory reflects an estimate of the amount of time it would take to sell all of the current listings in a given area if no new listings became available.…

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