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Atlanta MLS Listing Inventory Climbing | Atlanta Active Listings Climb to 84711

Atlanta MLS Listings Climbing | Atlanta Active Listings Climb to 84711 - I was just checking the Atlanta FMLS listings this evening and was surprised to see how quickly they are rising. The number has increased by about 1500 since yesterday! In early January they were about 78,000. To rise to 84711 Active FMLS Atlanta area listings this early in the season is astounding. Last year our all time high of MLS listings in the Atlanta FMLS was about 88000 last summer. April always seems to be the biggest month for new listings to come on the market,a nd it coincides with school ending mid May, and school starting in early August! If we are at this high a listings this early in the season 2008 will be an all time high year of listing inventory.

Atlanta high listing inventory is compounded by low sales. This is guaranteed to force a lot of pricing pressure on other competint homes. In January there were only 2401 homes sold in all of Atlanta metro! That is a 39% drop in sales from January 2007.

Active Listings 84711
Pending - 8520 Properties Found
Contingency - Other - 486 Properties Found
Contingency w/Kickout - 250 Properties Found

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Posted by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO on 02/27/2008 09:46 PM

Comments (10)

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10 Comments on Atlanta MLS Listing Inventory Climbing | Atlanta Active Listings Climb to 84711

Looks like it is an early spring market. Sellers must be optimistic about the market.

02/28/2008 06:40 AM

by GITA BANTWAL, REALTOR BUCKS COUNTY, PA HOMES (ReMax Centre Realtors)

GITA BANTWAL, REALTOR BUCKS COUNTY, PA HOMES Sellers are always optimisitic. The biggest drawback is financing has dissappeared. I had 4 buyers interested in a very hot home. It seems none qualified.

02/28/2008 06:44 AM

by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta)

Actually, those numbers are not far off from the WASHINGTON METRO numbers.

I just looked at MRIS and if the "out of area" counties are not counted we have about 80,000 Active listings and about 8,000 Under Contrat.

That's about the same for Pending in Atlanta Metro.

It's hard to get a real handle on these numbers because MRIS makes it hard to separate local from remote areas. But, the numbers of listings in the remote areas is not too high so it doesn't make that much difference.

It appears that the Atlanta and DC Metro market are similar in terms of pending sales.

Interesting.

02/28/2008 07:37 AM

by Lenn Harley, Homefinders.com, MD & VA Real Estate

Hi Jim - When I looked at my stats for just the Wake Forest area the absorption rate went from 7 in December to 15 January - holy cow!!! Like I said, that is just Wake Forest but I was really kinda surprised.

02/28/2008 08:57 AM

by Leesa L. Finley, REALTOR® (Circa Properties)

Homefinders, Real Estate in MD & VA, Lenn Harley, Broker, New & Resale Homes Lenn...there are similarities...I do not count the Pending Sales too much because...like your area, there tends to be a lot of new homes that are custom built...so there tends to be a lot of homes where the closing may be out...5 months on new construction. I tend to look more at the the monthly closed sales. It gives a lot more accurate picture of events.

On another note, I just came from a HUD foreclosure class today, and it is really interesting that they are only entered in the other MLS system. HUD sells another 500 foreclosures a month in the Metro area.

02/28/2008 08:00 PM

by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta)

Leesa L. Finley, REALTOR® Something took place in January because there is a major shift in inventory and a drop in sales units.

02/28/2008 08:01 PM

by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta)

Jim,

Ouch. Sounds like a unified MLS data feed would open up some short sale/REO opportunities for everyone.

They are working on one in Wisconsin called WIREX.

Steve

02/28/2008 08:42 PM

by Obeoman Steven Stearns (www.obeo.com)

Obeoman Steven Stearns In Atlanta we have been dealing with foreclosures for years. I think even the investors are starting to tire of them!

02/28/2008 09:39 PM

by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta)

Jim--Those are some 'scary' numbers! It sounds as though it stinks being an Atlanta Seller (too much competition) or a Buyer (dwindling financing). SOMETHING has GOT to give and soon! The fact that you still have Buyers is a positive.

02/28/2008 09:45 PM

by Debe Maxwell (Helen Adams Realty)

Debe Maxwell As of tonight 84884! Well we had a few buyers, but now they are not qualifying. 100% financing will totally disappear within 30 days here. I agree, something has got to give.

02/28/2008 09:57 PM

by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta)

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