Berkshire Hathaway HomeServices
Real Estate Advisor – June 2016
We are providing this monthly real estate advisor to keep you informed about the latest trends and issues in the real estate market. Remember that real estate is local and every market is different. Contact us to find out the specific details for your local area. If you know someone else who might be interested in receiving this report or who may benefit from our expertise, please let us know.Better information helps our clients make better real estate decisions!
The Metro Atlanta real estate market is hot as we move into the summer months. Our company continues to lead the market with closed units up 15% compared to last year. Here is the summary for Metro Atlanta real estate through May 2016. Click here for more detailed slides.
- Closings for May 2016 were up 6.7% from last month and up 6.7% from May 2015. Year-to-date 2016 closings were up 9.9% compared to YTD 2015.
- The average sales price for May was $290,000 which was up 1.3% from last month and up 3.2% from last year. The ASP is reaching record levels posted back in 2006.
- The listed inventory for May was up 4.1% from last month and down 2.6% 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 May was 3.2 months versus 3.3 months in April and 3.5 months last May. Six months is considered normal. Luxury properties are taking longer to sell with homes above $1 million averaging 13.5 months and properties over $2 million averaging 35.2 months.
- The latest Case-Shiller Index (5/31/16) was up 1.07% from the previous month. Metro Atlanta home values are up 54.79% from the recent bottom of March 2012 and up 3.38% from the average index last year. Increased home values are building positive equity and getting some sellers back into the market.
- Visit HomeServices Lending at http://Georgia.HomeServicesLending.com for the latest mortgage rates. The Mortgage Bankers Association predicts rates over 5% in 12 months.
- New Homes are moving fast – but many builders cannot build them fast enough for the demand. Visit http://www.NewHomesServicesGA.com to view new home communities.
- Commercial real estate is also making a comeback in Metro Atlanta. Our Commercial Real Estate Division specializes in these types of properties and would be happy to help you.
Our next MEGA Open House Event is Sunday, July 17th from 2pm – 5pm. There will be hundreds of beautiful open houses open across Metro Atlanta. This might be the right time to make your move!
If you know someone who is considering listing their home, please let them know about these events. We are having great success in attracting buyers for our MEGA Open Houses! The MEGA Open House Events are very different from the standard open houses from other companies. In 2016, we have launched advertising campaigns to drive more awareness for these events. Some examples include:
- New iPad Air2 Sweepstakes - One lucky person will win a brand new iPad Air2 in our sweepstakes promotion.
- Digital Billboards - We are using our extensive digital billboard network to promote the event to over 2.5 million drivers the week leading up to the event.
- Paid Facebook Ads – We leverage paid Facebook campaigns to promote each open house. Last month, our MEGA Open House ads were viewed by over 300,000 consumers who clicked over 28,000 times to see more property details.
- Zillow Advertising Campaign - Zillow is the leading real estate website with over 65% of the online searches in our market. Our MEGA Open House locations will be identified on Zillow to reach the largest online real estate audience. In addition, we are launching a significant new advertising campaign for Zillow buyer searches to promote our MEGA Open House event.
- Print Advertising – We will place ads in select newspapers including the Atlanta Journal Constitution business section.
- Local Promotion – Our teams will be putting up directionals, balloons and other materials to attract local prospects. Of course, we will respect local ordinances.
- Neighbor Previews – Our teams will also be organizing previews for neighbors who may be interested or know someone that may be a candidate as their new neighbor.
- Neighborhood Campaigns – Our teams will be leveraging e-campaigns, postcards and other mediums to reach the local community before and after the event.
As you can see, these are NOT traditional open houses where the agent places a few directional signs and hopes for a buyer. These are MEGA Open House Events! We expect to have over 300 homes on display. Our next MEGA Open House Event will be Sunday, July 17th. If you know anyone interested in listing their home, we would be honored to help and get their home designated as a MEGA Open House location.
Enter for a chance to win the $50,000 grand prize or one of our $2,500 weekly prizes. Congratulations to Alicia Lippi from Woodstock, Georgia for being the latest weekly winner of $2,500. The sweepstakes ends on June 17 so there is still time to enter!
NO PURCHASE NECESSARY. Open to legal residents of the 50 United States and D.C., age 21 or older. Void where prohibited. Odds of winning depend on number of entries received. Sweepstakes starts at 9:00 a.m. ET on March 28, 2016 and ends at 5:00 p.m. ET on June 17, 2016. For full official rules and to enter, visit www.LoveYourHomeSweeps.com. Sponsored by BHH Affiliates, LLC, 18500 Von Karman Avenue, #400, Irvine, California 92612. ©2016 BHH Affiliates, LLC. An independently owned and operated franchise of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.® Equal Housing Opportunity.
Father's Day originated in 1910 in Spokane Washington. Sonora Smart Dodd was the daughter of a Civil War Veteran who raised his six children as a single parent. To honor her father, she organized the first celebration at the Spokane YMCA. There were several attempts to create a national holiday by President Woodrow Wilson, President Calvin Coolidge and others. In 1966, President Lyndon B. Johnson issued the first presidential proclamation honoring fathers and declaring the third Sunday of June as Father's Day. Six years later, the national holiday was made permanent and President Richard Nixon signed it into law. Happy Father's Day to all the dads! Sunday, June 19th is your official day. Take time to enjoy it!
We would be honored to assist you or someone you know with their real estate needs. We are experts in the local market and have access to proprietary information sources that are not available to the public. Better information leads to better decisions!