The most recent market update for metro Atlanta:
Metro Atlanta has experienced early spring weather this year. Our company is also seeing an early spring for real estate with closings up 15% and pending sales up 21%. Here is the summary for Metro Atlanta real estate through February 2016. Click here for more details.
- Closings for February 2016 were up 4.6% from last month but down 2.7% from February 2015. Year-to-date 2016 closings were up 3% compared to YTD 2015.
- The average sales price for February was $256,000 which was down 1% from last month and up 7.9% from last year.
- The listed inventory for February was down 1.8% from last month and down 4.9% from last year. But the limited availability of desirable properties is still driving multiple offers and very quick sales in select areas.
- Overall months of supply for February was 4.8 months versus 5.1 months in January and 4.9 months last February. Six months is considered normal. Luxury properties are taking longer with homes above $1 million averaging 24 months and properties over $2 million averaging 62 months.
- The latest Case-Shiller Index (2/23/16) reports that Metro Atlanta home values are up 52% from the recent bottom of March 2012 and up 6.5% from last year. Increased homes values are building positive equity and getting some sellers back into the market.
Call today if you are ready to take advantage of this great sellers market. Whatever your price range, homes in good condition, priced well and ready to show are selling quickly!
Want to find your next home? Download my new GPS enabled listings app by texting McCartyhomes to 404-620-2300.
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