VOL. 10, ISSUE 3 - OCTOBER/NOVEMBER 2017
B E AC H A M YOUR HOUSING MARKET UPDATE FROM THE BEST PEOPLE IN ATLANTA REAL ESTATE ™
INSIDER
One Buckhead Plaza / 3060 Peachtree Road, Suite 100 / Atlanta, GA 30305 / 404.261.6300
FALL HOME SALES UP 25% AT BEACHAM VS. 2016 The fall market began before fall even started this year for Beacham & Company, REALTORS. The number of sales and dollar volume sold by the firm’s agents was up 25% in September, making it the best September ever in the history of the 11 year-old company and keeping it on track for another record sales year. Like the broader market, Beacham was boosted by sales in Buckhead and Cobb County, where the East Cobb and Smyrna areas remain as hot as they have all year long. The sales picture for the entire Atlanta market in September was not as rosy, however. The number of attached and detached single family home sales in the five county metro (Cobb, DeKalb, Forsyth, Fulton and Gwinnett) was down 6.8% in September from the previous year, while closed dollar volume was down 1.8%. Areas that have been strong but weakened in September include Ashford Park, Dunwoody and North Fulton County. Housing inventory has creeped upward as the year has progressed. The months’ supply of inventory in the five metro counties is now 4.6 months with most of the increase in the $200,000-$750,000 range (see page 2 chart).
Inventory still remains significantly elevated among homes priced $750,000 or more. Another noteworthy trend; through September, the number of months in 2017 that home sales increased from the year before was just five. Sales declined in the other four months. This happened after 20 consecutive months of year-over-year increases in sales. The rise in inventory does not mirror national modeling but the see-saw nature of sales in 2017 does. Together, these two trends could explain why Fannie Mae’s monthly housing confidence survey was the highest in history in September. In other words, we could be seeing the early signs of a return to balance between supply and demand in the market. Looking ahead, Beacham predicts continued strong sales to finish the year. The firm’s website experienced an unseasonal surge in activity this summer which foretold the firm’s record fall sales. Website activity has remained elevated and the firm’s pending sales for October are up 40% over the previous October record lead by more new listings in September than any previous September in company history.
BEACHAM & COMPANY OUTPERFORMS THE MARKET THIS FALL +24.6% - BEACHAM & COMPANY
NEARLY $1 BILLION IN ANNUAL SALES
SANDY STEWART Office: 404.261.6300 Direct: 404.788.2978 sandystewart@beacham.com beacham.com
FACTOID
Less than 4% of all sales in Atlanta each year are homes that sold for $750,000 or more. However, since March, sales of homes for more than $1 million have increased 7%.
TRENDING
According to the Atlanta Regional Commission, the greatest job and population growth in the Atlanta area between 2015 and 2040 will occur along the GA 400 corridor through North Fulton and Forsyth counties by nearly 2 to 1 over any other area of metro Atlanta.
-6.8% ALL FMLS +24.8% - BEACHAM & COMPANY -1.8% ALL FMLS
K N O W L E D G E • S E RV I C E • I N T E G R I T Y • C O N S I S T E N T R E S U LT S *Source: FMLS. Includes all single family detached and attached closings in Cobb, DeKalb, Forsyth, Fulton and Gwinnett, September, 2017.
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If your home is currently listed for sale, this newsletter is not intended as a solicitation of your business.
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