Clayton County GA Real Estate Market - May 2017

By
Real Estate Agent with Solid Source Realty GA 320764
https://activerain.com/droplet/57Zj

Clayton County Real Estate Report - May 2017

 

Based on current MLS statistics, today’s Market Snapshot of the Clayton County, GA real estate market shows a healthy real estate environment

 

Monthly Activity (stats from May 1 - 31, 2017)

 

Active Listings:

There are currently 675 MLS active listings of properties for sale, including both detached and attached single family residences.

 

The majority of the inventory falls in the $110,000 to $172,000 range. The highest priced property currently for sale is $1,600,000. The lowest is an investor or handy-man’s bargain at $24,000.

 

 

This translates to roughly a  4-month supply of inventory now available to purchase in Clayton County GA.

 

Monthly sales:

Documented home sales for the last full month of activity (May 2017) indicate a brisk market continuing. There were 13 sales of attached homes (condo or townhome), resulting in a total volume of $1,464,958.

 

The average average list price for attached single family properties in May was $108,780 and the average sale price was $112,689, resulting in a healthy  sale price-to-list price ratio of 104.1%.

 

The average days on market for attached home sales was 117.

 

The average average list price for detached single family properties in May was $144,677 and the average sale price was $141,368, resulting in a healthy  sale price-to-list price ratio of 97.7%.

 

The average days on market for detached home sales in May was 60.

 

Year-to-Date Clayton County GA real estate activity

for the month ended May 31, 2017:

ATTACHED residences saw 57 sales with an average list price of $93,661 and an average sale price of $92,413, for a list price-to-sale price ratio of 98.7%. The average days on market was 88.

 

DETACHED residences saw 537 sales in the first 5 months of 2017, with an average list price of $135,213 and an average sale price of $131,445, for a list price-to-sale price ratio of 97.2%. The average days on market was 64.

 

Area Absorption Rates

Absorption rates is the rate at which homes sell in Clayton County GA during a given time period. It indicates the number of months it would take to sell the current supply of listed homes in the market. It’s an important concept, used to help predict home prices and sales activity going forward. Absorption rate is calculated by dividing the number of sales in a given month by the number of available homes for sale. It is the inverse of months of supply.

 

Potential buyers and sellers may find it helpful to look at real estate absorption activity for Clayton County GA in the year between June 1, 2016 - May 31, 2017:

 

New Construction - single family ATTACHED residences:

A total of 29 newly built attached homes sold with an average of 106 days on the market.

 

Breakdown (in thousands)

$100 - $149 21 sales avg. 117 days on market

$150 - $199 8 sales avg. 78 days on market

 

New Construction - single family DETACHED residences:

A total of 413 newly built detached homes sold, with an average of 79 days on the market. The price range was $97,000 to $349,000, and an average 3-month of supply of new construction inventory.

 

Breakdown (in thousands)

< $100 2 sales avg. 31 days on market

$100 - $149 77 sales avg. 32 days on market

$150 - $199 233 sales avg. 93 days on market

$200 - $249 94 sales avg. 84 days on market

$250 - $299 6 sales avg. 105 days on market

$300 - $349 1 sale 18 days on market

 

Resale inventory - single family ATTACHED residences:

A total of 90 resale condos or townhomes sold, with an average of 73 days on market. The price range was $24,000 to $149,000, with an average 3-month supply of inventory.

 

Breakdown (in thousands)

< $100 88 sales avg. 74 days on market

$100 - $149 2 sales avg. 38 days on market

 

Resale inventory - single family DETACHED residences:

A total of 898 resale homes sold over the 12 months ending May 31, 2017. With an average of 63 days on the market. Prices ranges from $33,000 to $1,600,000, with an average 3-month supply of inventory for sale.

 

Breakdown (in thousands)

< $100 493 sales avg. 50 days on market

$100 - $149 273 sales avg. 50 days on market

$150 - $199 95 sales avg. 61 days on market

$200 - $249 14 sales avg. 79 days on market

$250 - $299 7 sales avg. 89 days on market

$300 - $349 2 sales avg. 40 days on market

$350 - $399 3 sales avg. 301 days on market

$450 - $499 7 sales avg. 63 days on market

$600 - $699 2 sales avg. 146 days on market

$800 - $899 1 sale 130 days on market

$1M - $2M 1 sale 14 days on market



The evidence of these numbers is clear:

 

Clayton County GA us currently experiencing a

continued healthy real estate market.

 

Properties, when they are realistically priced, are moving briskly. Atlanta area buyers are finding affordable housing choices in Clayton County. So if you are thinking of buying or selling a property in the area, right now may be your best opportunity.


Ready to buy or sell a Clayton County GA home? We can provide you with expert help. Call today.

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Elva Branson-Lee

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