New Year, New Market: Not Really

Credit: Mobius Strip Wood Sculpture by Tom Lowe, 8” x 6” x 9”. Source epochfurnishings.com

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Real estate statistics are so much fun. For example, we can tell you something crazy like – if nothing else comes to market in Buckhead, it will take us one month to sell out of all listed single-family housing. Continued low-interest rates, strong demand, and no inventory cause amazing things like one listing that in the first ten days of this new year garnered 55 showings and 13 offers in three days. What was that about an early spring market?

To have any fundamental understanding of statistics, let’s not look at a month-over-month review. Who cares about what happened last week unless it was yet another house that you wanted to buy. Let’s compare the fourth quarter of 2020 to the fourth quarter of 2021. At least that’s what I wanted to do, and Neal pointed out to me that that was eons ago, like one month.

Find your zip code and city and compare it to the combined six-county area (most Atlanta MSA). You see annual price growth of well over 15% in many markets. Add in a staggering decrease in marketing periods. The table below understates what’s happening in the 2022 market. The market is so under-supplied with listings and moving so fast that we need to get back to work unless you have a house to sell …

Zip Code or Market Q4 2020
Average Sales Price (+000)
Q4 2021
Average Sales Price (+000)
%age Change Days on Market Change
Sandy Springs $780 $1,060 35.90% -36.96%
30342 $959 $1,243 29.61% -11.11%
30318 $414 $496 19.81% -47.37%
Combined Cherokee, Cobb, DeKalb,
Forsyth, Fulton and Gwinnett
$418 $497 18.90% -31.03%
Cobb Co. $387 $458 18.35% -28%
30309 $1,002 $1,166 16.37% -2.63%
Marietta $420 $483 15.00% -28.57%
Atlanta $548 $621 13.32% -32.35%
DeKalb Co. $409 $460 12.47% -22.22%
30328 $685 $769 12.26% -58.70%
30305 $1,212 $1,319 8.83% -27.78%
30327 $1,680 $1,816 8.10% -35.71%
Brookhaven $775 $807 4.13% -27.78%
30324 $779 $780 0.13% -8.82%

 

HAPPY 2022 and GO, DAWGS!

 

*Credit: Mobius Strip Wood Sculpture by Tom Lowe, 8” x 6” x 9”. Source epochfurnishings.com

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