The Forth Quarter of 2014 was Great for Home Sellers
Why do we say – Know the Atlanta Stats and Home as Commodity? The Rawl’s Group of Keller Williams Realty routinely releases their quarterly statistics so we all can better understand and identify what the Atlanta home marketplace has to offer. In 2014 the forth quarter KW Atlanta Market Stats show the Sales Price Percent of Original List Price has increased to around 96%, this according to the First Multiple Listing Service (FMLS) data collected by Chartmaster Services, LLC, on single family detached residences. In past history, during the 1st Quarter of 2009 the Atlanta market saw that percentage decline to close to 80% with a gradual increase taking place throughout 2012. Flat, to slightly higher sales during 2013 and 2014 will be monitored to see if momentum has slowed enough to cause a plateau in the recovery. Higher December sales may be a stronger starting going into 2015.
Additionally, according to collected data, new construction properties (single family detached residences) posted a consecutive quarterly median sales price increase of +3.1%, while resale properties also posted a quarterly median sales price increase of +11%.
The median sales price for Resale properties in December, 2014 was higher than the previous high median December price reached in 2006. The supply/demand relationship continues to show a Seller’s advantage. As long as it continues, fast action and realistic offers will be necessary for buyers to capitalize on still-low prices for many available properties! Low-ball offers on high-value properties will likely result in missing out on a great opportunity. In 4Q 2014, nearly 1 out of every 5 (18.7%) sales transactions resulted in selling prices that were equal to or higher than the original listing price.
As stated, the Supply/Demand relationship has shifted to the seller’s advantage. As long as it continues, fast action and realistic offers will assist buyers in capitalizing on still-low prices for many available properties. Contact the Corbett2Corbett Team for help in today’s Seller’s market. We have experience working with both the buyer & seller and can assist you or a family member in navigating Metro Atlanta’s real estate market. Bring us any of your questions. We are ready to show you more on how the 2013 third quarter KW Atlanta Market Stats are showing the effects on our neighborhoods.
“Give us a call (404.909.2299) or send Ed Corbett an email and we will run a FREE CMA (Comparative Market Analysis) so you know the REAL market numbers on your home. We look forward to working with you.