Market Conditions for Dunwoody, Georgia Reported by HANK MILLER - Associate Broker, SRA, ABR Updated May 11, 2012.

Current Market Rating: 2 1 2 3 4 5 Buyer's Seller's

Current Price Trend: 3 1 2 3 4 5 Falling Rising

Dunwoody real estate data and home price trends are updated weekly on www.hounddogrealestate.com - just hit the Market Conditions link on the main menu.

Looking at the data we see:

• Year to year change in number of homes sold was +21.1%
• 1st Qtr '12 distressed sales comprised 31.9% of the total
• Year to year % change in median price was +1.3%
• 1st Qtr '12 median sales price was $318,000

This is a look by FMLS section; we can drill down further still which is required in this case. The Dunwoody market saw an increase in activity as well as median price over the last year. There are likely several reasons for this; the main ones being area desirability, good schools, economic stability and shrinking inventory. The low mortgage rates have obviously helped as well.

Whether or not Dunwoody has "officially" turned the corner remains to be seen but positive signs in all the important areas is a big plus and makes Dunwoody one of the "stable" areas in the Atlanta real estate market.

For you Dunwoody home sellers, success is predicated upon accurate PRICE, extensive EXPOSURE where the buyers are, and APPEAL to emotionally lock in a buyer. Each of these has to be aligned or the home will sit. You will see the most activity in the first 45 days - the buyers are scouring new inventory and if your home doesn't contract in that time it's likely to take a while. The market is always right and it doesn't care about what you think the home is worth, what you paid or what you put into it. Neither will that appraiser, if you're fortunate enough to get an offer.

For home buyers in Dunwoody, stop obsessing about foreclosures and bank owned homes; most are not the bargain you think they are. Define success and act when it's found; thoroughly qualify your agent, find a home you want to live in, absorb all data and pull the trigger if things line up. You're not likely to buy a home at 60% of value - the REO game has completely changed and banks are aggressively chasing the highest prices possible. Foreclosures are a very risky buy for a ton of reasons - most are best left alone.

There is no set answer for the "how's the Dunwoody real estate market" question; there are far too many variables. There are answers when we start looking at specific areas, zips or communities; we kick out answers daily at www.hounddogrealestate.com

I get surprised at the number of people that tell me they've "read me for months or years"; I enjoy writing. That said, this site is designed for the quick analysis so here's my single most important piece of advice for Dunwoody home buyers and sellers: EDUCATE YOURSELF. Your agent will impact you financially both buying and selling. This should be a complete business decision - listings that languish, buyer opportunities missed, poor data analysis, contract negotiations screwed up, inability to take charge…cost you time and money. Aunt Molly, Eddie from the tennis team or Sally the hairdresser probably should be left alone. I cannot describe how fluid the real estate field is right now and it will remain so for the foreseeable future; experience matters.

Educate yourself, recognize the value of experienced agents and remember that nothing is easy right now. Drop me a line if you have any Dunwoody real estate or appraisal questions hank@hounddogrealestate.com - www.hounddogrealestate.com.


ZIP Codes: 30360, 30338

Location Characteristics: Dunwoody became a city in 2008 and it is close to everything in North Metro Atlanta. Located in the NW part of Dekalb County, it is convenient to Rt 400, I-85, I-285 (the Perimeter) and all major secondary roads. It boasts great shopping and restaurants and is considered a very desirable area in which to live.

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