Tuesday, 17 October 2017

The Housing Supply Around Atlanta - Late Summer 2016

Written by Posted On Wednesday, 17 August 2016 17:50

How is the Housing Supply Around Atlanta?

The housing supply around Atlanta remains largely balanced. While the spring rush depleted several areas and shifted the market strongly in favor of sellers, things seems to have returned to balance as fall '16 approaches. Months of inventory (MOI) is a good general barometer for market activity. This is an estimate of how many months it would take for the current inventory of homes on the market to sell, given the current pace of home sales. The greater Atlanta market is considered to be balanced with between a 5-7 month MOI; under that range tips the scale towards sellers and over that towards buyers. We review another good indicator of trends with our post of How Close to List Price are Buyers Around Atlanta Paying? We examine MOI charts for 5 very active north Atlanta markets - different results should be expected if micro markets within these areas are examined. We cover 15+ major markets in detail around North Atlanta can pull appraisal level data for most markets in Georgia.

Dunwoody continues to run "hot" as even the high points favor sellers. This is one of the stronger areas right now with demand across all price points. Limited new construction should keep the market tight. 

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East Cobb always enjoys the mad spring - early summer rush as buyers set up for the highly desirable schools. Still a nod to sellers but data seems to indicate the rush has slowed. 

housing inventory east cobb                            

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Milton is another highly desirable area and has the same rush for schools. Note the major MOI swings; a sharp drop for the first half as buyers lost the edge but the bump back has started. New construction is impacting the data here as builders have been very busy. 

housing inventory milton                          

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Roswell has been hectic but has remained favorable to sellers; the bump up is still below 3. This is due to schools, location and limited inventory - however there are several new communities underway so MOI may increase. 

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Sandy Springs experienced significant swings as well; the first half of the year saw a sharp move toward neutral with a slight nod to sellers. This has since moved back to neutral and may start to favor buyers. 

housing inventory sandy springs                         

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Hank Miller Team Advantage

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Hank Miller, SRA

Hank Miller is an Associate Broker & Certified Appraiser in the north metro Atlanta area. Since 1989, real estate has been his full time profession. Hank´s clients benefit from his appraisal and sales experience; they act upon data, not baseless opinions. He is an outspoken critic of the lax standards in the agent community.

Hank remains an active certified appraiser and completes specialty work for FNMA, lenders and attorneys. He is a well-known blogger and continues to guest write for multiple industry publications as well as national outlets like the WSJ, NYT, RE Magazine, USA Today and others. He is a regular on public Q&A sites on Zillow, Trulia and many others.

Hank consistently ranks in the top 1% of all agents in the metro Atlanta area. He runs the Hank Miller Team and is known as much for his ability as he is for his opinions. He is especially outspoken about the lack of professional standards and expectations in the real estate industry.

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