REdefined Market Report Q3 2020

REdefined

METRO ATLANTA and SURROUNDING COUNTIES

RESIDENTIAL REAL ESTATE QUARTERLY MARKET TRENDS, SALES & STATISTICS

Georgia Properties

Q3 2020

When we first began to experience the effects of the pandemic in the United States, we had no idea how the real estate market was going to be impacted. As the spring market essentially was on pause due to the social guidelines put in place following the arrival of COVID-19, many of us wondered if another recession was in the near future. Then the unexpected occurred.

On the heels of a slow second quarter, the real estate market began to experience a remarkable comeback throughout the Greater Atlanta area.

Fueled by historically low interest rates and limited inventory, homes began to sell in record time and the market saw a dramatic increase in sales volume and productivity compared to the second quarter. Pending sales turned positive for the first time this year, with closings quickly following suit. The market currently shows no sign of slowing down, as the high demand for housing continues to result in an accelerated number of closings. Additionally, interest rates are not expected to rise for quite some time, allowing consumers the opportunity to lock into a fixed low mortgage rate.

Throughout the last four months, Berkshire Hathaway HomeServices Georgia Properties’ sales volume exceeded $1.8 billion, as a result of the incredible market rebound partnered with our associate’s dedication to finding innovative ways to serve their clients. For the month of July alone, we produced over $500 million in sales volume, marking July as the most successful month in the history of our company. This unprecedented success is a clear reflection on the stability of the Georgia housing market, and I expect the fourth quarter to yield similar results as buyers and sellers are still very active.

As we close out the year, I am confident that we will continue to see the market excel and make a full recovery from this year’s slow beginning.

2020 is a year that will not soon be forgotten, and I want to thank you all for your loyalty and support through each unique circumstance we have come to face. I look forward to witnessing many future accomplishments as we continue to redefine real estate across Metro Atlanta.

President & CEO 2

RESIDENTIAL REAL ESTATE M A R K E T T R E N D S , S A L E S , A N D S TAT I S T I C S

3

METRO ATLANTA

6

Cherokee ............................................................ 8 Clayton ............................................................. 10 Cobb .................................................................. 12 Coweta ............................................................. 14 Dekalb ................................................................ 16 Douglas ............................................................ 18 Fayette .............................................................. 20 Fulton ............................................................... 22 Gwinnett ......................................................... 24 Henry ................................................................ 26 Rockdale ......................................................... 28 SURROUNDING COUNTIES

30

Barrow ............................................................. 32 Bartow ............................................................. 34 Clarke ............................................................... 36 Dawson ............................................................ 38 Forsyth ............................................................ 40 Habersham ..................................................... 42 Hall .................................................................... 44 Jackson ........................................................... 46 Lumpkin .......................................................... 48 Newton ............................................................. 50 Paulding ........................................................... 54 Rabun ............................................................... 56 Spalding .......................................................... 58 Walton ............................................................. 60

TABLE OF

Contents

5

Metro Atlanta, GA

MARKET TRENDS

C HE R OK EE | C L AY TO N | COBB | COWETA | DEKALB | DOU GL AS FAY E TTE | F ULTO N | GWI NNETT | HENRY | ROCKDALE

Coming off a slow second quarter, Metro Atlanta saw an increase in homes sold for both the general and luxury properties. For homes priced below $500k, the AREA: 8,376 SQUARE MILES

number of sold listings were up 8% and luxury sales were up an incredible 50.5% year-over-year. Due to the limited number of home inventory, listings in the third quarter experienced less time spent on the market and sold for higher asking prices. The total number of sales for non-luxury properties during this quarter

POPULATION: 5.9 MILLION

6

came in at over 24,286 and 4,480 for luxury properties, indicating a strong market for those looking to sell.

M A R K E T DATA H OM E S U N D E R $5 0 0 K

M ARKET DATA H O M E S OVE R $ 5 00K

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

FOR SALE

-49.1% Change 8% Change

SOLD

PENDED

16% Change

FOR SALE

-28.2% Change

SOLD

50.5% Change

PENDED

73.6% Change

9,404

26,763

4,489

6,271

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

24,286

1.2

4,480

3.2

NUMBER OF SALES

MONTHS OF INVENTORY

NUMBER OF SALES

MONTHS OF INVENTORY

$779K

54

AVERAGE SOLD PRICE

AVERAGE DAYS ON MARKET

$277K AVERAGE SOLD PRICE

36 AVERAGE DAYS ON MARKET

7

Cherokee County, GA

MARKET TRENDS

B A LL GR O UN D | CANTON | HOLLY SPRI NGS M O UN TA IN PA R K | N ELSON | WALESKA | WOODSTOCK

In Cherokee County, the luxury market experienced a 40.6% sales increase versus the previous year and a 70.2% increase year-over-year for homes AREA: 434 SQUARE MILES

pending. The general real estate market saw an 18.3% growth in sales volume and pending transactions rose 28.3% compared to the 2019 third quarter.

In Cherokee County, the average days spent on the market still remained relatively low as homes priced below $500k lasted an estimated 36 days

POPULATION: 258,773 (2019)

and luxury properties lasted an average of 51 days. These numbers indicate an upward trend for sellers as we head into the fourth quarter.

8

M A R K E T DATA HOM E S U N D E R $5 0 0 K

M ARKET DATA H O M E S OVE R $ 5 00K

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

FOR SALE

-50.2% Change 18.3% Change

SOLD

28.3 % Change

PENDED

FOR SALE

-25.7% Change

SOLD

40.6% Change

PENDED

70.2 % Change

507

1,598

251

313

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

1,567

1.1

225

3.5

NUMBER OF SALES

MONTHS OF INVENTORY

NUMBER OF SALES

MONTHS OF INVENTORY

$684K

51

AVERAGE SOLD PRICE

AVERAGE DAYS ON MARKET

$314K AVERAGE SOLD PRICE

36 AVERAGE DAYS ON MARKET

9

Clayton County, GA

MARKET TRENDS

CO L L E GE PA R K | F O R E ST PARK | J ONESBORO | LAKE CIT Y LOVE JOY | MORROW | RI VERDALE

Located just south of Atlanta, Clayton County saw a slight decrease across the board during the third quarter. Sales were down 1.1% compared to 2019, and AREA: 144 SQUARE MILES

the number of homes pending also experienced a slight negative change of 4.8% year-over-year. The low number of inventory properties could factor into the slower third quarter, but this also allows less competition among sellers, resulting in higher sales prices for homes and less time spent on the

POPULATION: 292,256 (2019)

market. With buyers quickly returning to the market, it is possible that Clayton County will rebound in the fourth quarter and finish the year strong.

10

M A R K E T DATA H OM E S U N D E R $5 0 0 K

M ARKET DATA H O M E S OVE R $ 5 00K

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

FOR SALE

-60.5% Change -1.1 % Change

SOLD

-4.8 % Change

PENDED

-60% Change

FOR SALE

SOLD

NA

PENDED

NA

139

511

2

3

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

437

1

3

1.7

NUMBER OF SALES

MONTHS OF INVENTORY

NUMBER OF SALES

MONTHS OF INVENTORY

$597K

68

AVERAGE SOLD PRICE

AVERAGE DAYS ON MARKET

$163K AVERAGE SOLD PRICE

30 AVERAGE DAYS ON MARKET

11

Cobb County, GA

MARKET TRENDS

ACWO R TH | ATLA N TA | AUSTELL | CLARKDALE | KENNESAW M AB LE TO N | MA R IE TTA | POWDER SPRI NGS | SMYRNA

As one of Metro Atlanta’s most popular communities, Cobb County saw a significant increase in the luxury and general markets. For luxury properties, AREA: 345 SQUARE MILES

sold listings were up 58.5% year-over-year and the number of homes pending jumped 86.7% compared to 2019. Additionally, in the general market, sold listings were up 5%, and the amount of pending sales increased 14.5%. While homes are selling quickly, the inventory for buyers remains low. This

POPULATION: 760,141 (2019)

means that sellers will be able to maximize their profits in a shorter amount of time, since there will be less options for buyers to choose from.

12

MA R K E T DATA H OM E S U N D E R $5 0 0 K

M ARK E T DATA H O M ES OVE R $ 5 00K

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

FOR SALE

-48.1% Change 5% Change

SOLD

PENDED

14.5% Change

FOR SALE

-32% Change

SOLD

58.5% Change

PENDED

86.7% Change

1,002

3,538

553

828

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

3,289

1

653

2.8

NUMBER OF SALES

MONTHS OF INVENTORY

NUMBER OF SALES

MONTHS OF INVENTORY

$694K

50

AVERAGE SOLD PRICE

AVERAGE DAYS ON MARKET

$330K AVERAGE SOLD PRICE

27 AVERAGE DAYS ON MARKET

13

Coweta County, GA G R AN T V I LLE | N E W N A N | PALMETTO | SENOI A |

MARKET TRENDS

HARAL S ON

M OR E L A N D | SHA R PSBURG | TURI N | EAST NEWNAN

Like many of the other areas across the state of Georgia, Coweta County experienced a strong third quarter. The high demand combined with the low AREA: 446 SQUARE MILES

inventory resulted in sellers generating higher revenue in a shorter amount of time as buyers continue to have fewer options to choose from. The general market saw a positive change in homes sold by 17.3%, and pending contracts were up an incredible 34.6% yearover-year. In the luxury specific market, the market

POPULATION: 148,509 (2019)

experienced a remarkable comeback compared to the second quarter. The number of sold homes rose 53.1% and pending contracts grew 68.6% year-over-year.

These positive numbers indicate that the remainder of 2020 could continue to surpass previous years in both sales volume and number of pending properties.

14

M A R K E T DATA H OM E S U N D E R $5 0 0 K

M ARKET DATA H O M E S OVE R $ 5 00K

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

FOR SALE

-42% Change

FOR SALE

SOLD

17.3% Change

SOLD

34.6% Change

PENDED

-11% Change 53.1% Change

68.6% Change

PENDED

409

1,007

89

101

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

941

1.5

75

3.9

NUMBER OF SALES

MONTHS OF INVENTORY

NUMBER OF SALES

MONTHS OF INVENTORY

$616K

79

AVERAGE SOLD PRICE

AVERAGE DAYS ON MARKET

$281K AVERAGE SOLD PRICE

43 AVERAGE DAYS ON MARKET

15

Dekalb County, GA

MARKET TRENDS

AT L A N TA | AVO N DA L E ESTATES | BROOKHAVEN | CHAMBL E E C L A R KSTO N | DE C ATUR | DORAVI LLE | DUNWOODY E L L EN WO O D | LITHO NI A | PI NE LAKE | STONE MOUNTA IN SCOTTDA LE | STONECREST | TUCKER

Despite

record

low

inventory,

Dekalb

County

experienced an overall positive third quarter. The average days on market ranged between 31 to 34 days, AREA: 271 SQUARE MILES

making this the perfect time to sell your home as there will be less competition in winning potential buyers.

Throughout the general market, the average number of sold properties trended upwards at 2.3% and the number of pending contracts increased 5.4% yearover-year. The luxury market saw a dramatic increase

POPULATION: 759,297 (2019)

of 42.5% for homes sold and a positive change of 54.4% for pending contracts compared to the third quarter of 2019. These numbers predict that the 2020 market is on an upward trend going into the final part of the year.

16

M A R K E T DATA H OM E S U N D E R $5 0 0 K

M ARKET DATA H O M E S OVE R $ 5 00K

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

FOR SALE

-46.6% Change

FOR SALE

-21.2% Change

SOLD

2.3% Change

SOLD

42.5% Change

PENDED

5.4% Change

PENDED

54.4% Change

1,113

2,861

512

881

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

2,353

1.5

657

2.5

NUMBER OF SALES

MONTHS OF INVENTORY

NUMBER OF SALES

MONTHS OF INVENTORY

$716K

34

AVERAGE SOLD PRICE

AVERAGE DAYS ON MARKET

$271K AVERAGE SOLD PRICE

31 AVERAGE DAYS ON MARKET

17

Douglas County, GA

MARKET TRENDS

D OU G LASVIL LE | FA IR PLAY | LI THI A SPRI NGS | WI NSTO N WOODS VALLEY

Located west of Atlanta, Douglas County has some of the lowest tax rates across the state of Georgia.

Although the general market experienced a slight AREA: 201 SQUARE MILES

decrease in homes sold and pending contracts, the

luxury

market

flourished

and

displayed

unprecedented success. For luxury homes sold, the market saw a 200% increase compared to the third quarter of 2019. Additionally, pending properties were up an astounding 300% year-over-year. The POPULATION: 146,343 (2019)

low interest rates combined with Douglas County’s low taxes resulted in an ideal scenario to buy high end real estate in the third quarter, and the increase in pending contracts indicates that the fourth quarter will remain strong in terms of luxury sales.

18

M A R K E T DATA H OM E S U N D E R $5 0 0 K

M ARKET DATA H O M E S OVE R $ 5 00K

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

FOR SALE

-60.7% Change

-20.5% Change

FOR SALE

SOLD

-9.2% Change

SOLD

200% Change

PENDED

-3.0% Change

PENDED

300% Change

153

614

31

32

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

562

0.9

15

7.6

NUMBER OF SALES

MONTHS OF INVENTORY

NUMBER OF SALES

MONTHS OF INVENTORY

$643K

71

AVERAGE SOLD PRICE

AVERAGE DAYS ON MARKET

$231K AVERAGE SOLD PRICE

28 AVERAGE DAYS ON MARKET

19

Fayette County, GA

MARKET TRENDS

B R O O KS | FAY E TTE VILLE | PEACHTREE CI TY | TYRONE

Following a slow second quarter that was essentially on pause due to the COVID-19 crisis, the Fayette County real estate market bounced back through AREA: 199 SQUARE MILES

the summer months and ended the third quarter on a positive note. The number of sales were up 13.8% versus 2019 and the number of pending contracts trended upwards totaling an increase of 40.4% year-over-year. Additionally, luxury properties sold went up an incredible 52.2% and luxury homes

POPULATION: 114,421 (2019)

pending rose 62.9% compared to the previous year. With buyers eager to purchase and interest rates being extremely low, we can predict that the market will finish the year on a positive note.

20

M A R K E T DATA H OM E S U N D E R $5 0 0 K

M ARKET DATA H O M E S OVE R $ 5 00K

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

FOR SALE

-58.8% Change 13.8% Change

SOLD

40.4% Change

PENDED

FOR SALE

-34% Change

SOLD

52.2% Change

PENDED

62.9% Change

149

560

105

136

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

545

1.1

140

2.8

NUMBER OF SALES

MONTHS OF INVENTORY

NUMBER OF SALES

MONTHS OF INVENTORY

$673K

63

AVERAGE SOLD PRICE

AVERAGE DAYS ON MARKET

$319K AVERAGE SOLD PRICE

36 AVERAGE DAYS ON MARKET

21

Fulton County, GA

MARKET TRENDS

A LP HA R E TTA | ATLANTA | CHATTAHOOCHEE HI LLS CO L LE G E PA R K | E AST POI NT | FAI RBURN | HAPEVI LLE J O HN S C R E E K MILTO N | MOUNTAI N PARK | PALMETTO R OSW E L L | SA N DY SP R I NGS | UNI ON CI TY | SOUTH FULTON

Known as the most populated area in the state of Georgia, Fulton County consists of southern suburbs, downtown Atlanta, and northern communities. The AREA: 534 SQUARE MILES

overall market experienced a slight increase of 3.4% in homes sold while the luxury market saw a positive uptick of 36% year-over-year. Due to the limited supply of inventory and historically low interest rates, the average sold price for luxury properties totaled over $903k, indicating a continued strong market for

POPULATION: 1,064M (2019)

the sellers of high-end property. Additionally, pending contracts rose 57.1% for luxury homes and 10.2% for the general market. As the real estate industry continues to bounce back from a spring market that was essentially on pause, the pent-up demand for homes in Fulton County will hopefully lead to an increase in sales through the remainder of the year.

22

M A R K E T DATA H OM E S U N D E R $5 0 0 K

M ARKET DATA H O M E S OVE R $ 5 00K

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

FOR SALE

-30.8% Change 3.4% Change

SOLD

PENDED

10.2% Change

FOR SALE

-24.4% Change 36% Change

SOLD

PENDED

57.1% Change

2,358

4,854

1,845

2,628

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

3,824

1.9

1,728

3.3

NUMBER OF SALES

MONTHS OF INVENTORY

NUMBER OF SALES

MONTHS OF INVENTORY

$903K

48

AVERAGE SOLD PRICE

AVERAGE DAYS ON MARKET

$277K AVERAGE SOLD PRICE

38 AVERAGE DAYS ON MARKET

23

Gwinnett County, GA

MARKET TRENDS

B U F OR D | DAC UL A | D U LUTH | GRAYSON | LAWRENCEVIL L E L I L B U R N | N O R C R OSS | PEACHTREE CORNERS | SNELLVI L L E SUG A R HI LL | SUWANEE

With many closings delayed in the spring market due to strict social distancing guidelines, Gwinnett County was able to capitalize during the third quarter, AREA: 437 SQUARE MILES

positively increasing the total amount of homes sold. The general market saw a 7.8% increase in sold properties, while the luxury market experienced an incredible 45.6% increase in sales volume year-overyear. Pending contracts were up 20.3% for homes priced below $500k and luxury pending contracts

POPULATION: 936,250 (2019)

were up 69.2% versus the third quarter of 2019. This uptick in pending sales can be used to predict that the number of sold properties will remain strong, given that pending third quarter transactions will begin to finalize throughout the remainder of the year.

24

M A R K E T DATA H OM E S U N D E R $5 0 0 K

M ARKET DATA H O M E S OVE R $ 5 00K

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

FOR SALE

-55.6% Change 7.8% Change

SOLD

PENDED

20.3% Change

FOR SALE

-23.7% Change

SOLD

45.6% Change

PENDED

69.2% Change

1,205

4,290

329

396

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

4,074

1

281

3.8

NUMBER OF SALES

MONTHS OF INVENTORY

NUMBER OF SALES

MONTHS OF INVENTORY

$703K

70

AVERAGE SOLD PRICE

AVERAGE DAYS ON MARKET

$290K AVERAGE SOLD PRICE

33 AVERAGE DAYS ON MARKET

25

Henry County, GA

MARKET TRENDS

HA M PTO N | LO C UST G R OVE | MCDONOUGH | STOCKBRI D GE

While many markets across the country suffered in terms of sold properties due to the rough start of 2020, Henry County experienced phenomenal AREA: 327 SQUARE MILES

sales growth likely due to its suburban location and spacious homesites. Because of COVID-19, most of the population transitioned to working from home, making proximity to the city a lower priority on buyers’ wish lists. Henry County is a prime example of how this impacts the overall market as it experienced a 19.9%

POPULATION: 234,561 (2019)

increase in homes sold and a 270% increase in luxury properties sold. Additionally, pending contracts were up 40.2% for the general market and luxury pending contracts rose an unprecedented 322.2% year-overyear. These numbers predict that Henry County will continue to experience a strong fourth quarter as buyers continue to capitalize on low interest rates and sellers take advantage of less competition due to the lack of inventory available to buyers.

26

M A R K E T DATA H OM E S U N D E R $5 0 0 K

M ARKET DATA H O M E S OVE R $ 5 00K

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

FOR SALE

-57.2% Change 19.9% Change

SOLD

40.2% Change

PENDED

-14.5% Change

FOR SALE

270% Change

SOLD

322.2% Change

PENDED

426

1,651

53

54

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

1,530

0.9

37

4.9

NUMBER OF SALES

MONTHS OF INVENTORY

NUMBER OF SALES

MONTHS OF INVENTORY

$685K

67

AVERAGE SOLD PRICE

AVERAGE DAYS ON MARKET

$248K AVERAGE SOLD PRICE

43 AVERAGE DAYS ON MARKET

27

Rockdale County, GA

MARKET TRENDS

CO N Y E R S | LAKEVI EW ESTATES

Located 24 miles east of Atlanta, Rockdale County is among those that finished the third quarter on a high note. While the general real estate market saw AREA: 132 SQUARE MILES

an increase of 11.1% for sold homes and an uptick of 20.1% for homes pending versus last year, the area’s luxury market skyrocketed during the third quarter.

For luxury homes sold, Rockdale County experienced a 1,000% gain year-over-year, and the number of pending contracts rose above 550% compared

POPULATION: 90,896 (2019)

to 2019. With this influx in pending contracts, the number of luxury homes sold is estimated to surpass previous records during the final quarter of 2020

28

MA R K E T DATA H OM E S U N D E R $5 0 0 K

M ARK E T DATA H O M ES OVE R $ 5 00K

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

-64.9% Change

FOR SALE

11.1% Change

SOLD

20.1% Change

PENDED

0% Change

FOR SALE

1,000% Change

SOLD

550% Change

PENDED

91

381

24

16

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

349

0.9

11

9.8

NUMBER OF SALES

MONTHS OF INVENTORY

NUMBER OF SALES

MONTHS OF INVENTORY

$620K

89

AVERAGE SOLD PRICE

AVERAGE DAYS ON MARKET

$227K AVERAGE SOLD PRICE

32 AVERAGE DAYS ON MARKET

29

Surrounding Counties MARKET TRENDS

30

FEATURED BARROW BARTOW CLARKE DAWSON FORSYTH HABERSHAM HALL LUMPKIN NEWTON PAULDING RABUN SPALDING WALTON

31

Barrow County, GA

MARKET TRENDS

AUB UR N | B E TH LEHEM | BRASELTON | CARL STATHAM | WI NDER

The third quarter proved strong for Barrow County as the general and luxury markets experienced a significant increase in terms of homes sold and AREA: 163 SQUARE MILES

pending contracts. Total sales grew to over 40.7% versus the previous year and luxury sales trended upward by an incredible 233.3%. Pending contracts remained steady at 37.5% for the general market and grew exponentially to 216.7% for the luxury market.

These statistics, combined with low inventory, allude

POPULATION: 83,240 (2019)

32

to the probability that the fourth quarter will remain strong for those looking to sell in Barrow County.

M A R K E T DATA H OM E S U N D E R $5 0 0 K

M ARKET DATA H O M E S OVE R $ 5 00K

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

FOR SALE

-67.1% Change

FOR SALE

SOLD

40.7% Change

SOLD

PENDED

37.5% Change

PENDED

-31% Change -233.3% Change

216.7% Change

76

369

20

21

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

408

0.7

20

4.4

NUMBER OF SALES

MONTHS OF INVENTORY

NUMBER OF SALES

MONTHS OF INVENTORY

$786K

94

AVERAGE SOLD PRICE

AVERAGE DAYS ON MARKET

$240K AVERAGE SOLD PRICE

37 AVERAGE DAYS ON MARKET

33

Bartow County, GA

MARKET TRENDS

A DA IR SVILLE | C A R TERSVI LLE | EMERSON | EUHARLEE K INGSTON | WHI TE

The general real estate market in Bartow County experienced a slight increase in terms of sales and pending contracts with each statistic rising AREA: 470 SQUARE MILES

over 2% compared to previous year. The luxuryspecific market grew 46.2% in sales volume versus 2019 and pending luxury sales saw 100% increase year-over-year. These numbers indicate that the county’s fourth quarter market will produce a rise in luxury sales as the third quarter luxury pending

POPULATION: 107,738 (2019)

contracts will soon become closed transactions through the remainder of 2020. The low inventory that is affecting the overall market also predicts that sellers are experiencing less competition, resulting in fewer days on the market and higher sale prices.

34

M A R K E T DATA H OM E S U N D E R $5 0 0 K

M ARKET DATA H O M E S OVE R $ 5 00K

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

FOR SALE

-55.6% Change

-48% Change

FOR SALE

SOLD

2.5% Change

SOLD

46.2% Change

PENDED

2.9% Change

PENDED

100% Change

142

482

26

21

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

446

1

19

5.8

NUMBER OF SALES

MONTHS OF INVENTORY

NUMBER OF SALES

MONTHS OF INVENTORY

$772K

150

AVERAGE SOLD PRICE

AVERAGE DAYS ON MARKET

$239K AVERAGE SOLD PRICE

34 AVERAGE DAYS ON MARKET

35

Clarke County, GA

MARKET TRENDS

ATHE NS | WI NTERVI LLE

Clarke County ended the third quarter on a primarily positive uptick in terms of sales, pending contracts, and average sold price. The total sales volume AREA: 470 SQUARE MILES

experienced a 21.8% increase, while the amount of homes pending came in at a 21.1% rise. The low inventory for homes priced below $500k ensures that sellers will be able to generate higher sale prices in a shorter amount of time than in years past. However, the luxury specific market increased its inventory

POPULATION: 107,738 (2019)

by 80%, giving buyers more room to negotiate closing costs and take more time when deciding to purchase. Additionally, the number of luxury homes that sold grew to 66.7% year-over-year, and luxury pending contracts increased by 185.7% versus 2019.

These numbers will hopefully carry throughout the remaining months of 2020, making Clarke County’s market stable for both buyers and sellers.

36

M A R K E T DATA H OM E S U N D E R $5 0 0 K

M ARKET DATA H O M E S OVE R $ 5 00K

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

FOR SALE

-34.1% Change 21.8% Change

SOLD

21.1% Change

PENDED

80% Change

FOR SALE

66.7% Change

SOLD

185.7% Change

PENDED

143

390

36

36

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

313

1.6

15

7.3

NUMBER OF SALES

MONTHS OF INVENTORY

NUMBER OF SALES

MONTHS OF INVENTORY

$863K

65

AVERAGE SOLD PRICE

AVERAGE DAYS ON MARKET

$228K AVERAGE SOLD PRICE

40 AVERAGE DAYS ON MARKET

37

Dawson County, GA

MARKET TRENDS

DAWSONVI LLE

Located in the gorgeous scenery of the North Georgia Mountains, Dawson County’s real estate market proved strong throughout the third quarter. In terms of AREA: 214 SQUARE MILES

homes sold and pending contracts, both the general and luxury markets experienced an upward trend compared to the third quarter of 2019. Lower inventory resulted in fewer days on the market and an increase in average sales price versus previous quarters.

Pending sales rose 60.8% for homes priced below

POPULATION: 26,108 (2019)

$500k and 72.7% for luxury properties. With the influx of pending contracts, Dawson County can predict to have a strong finish in 2020 across all price points.

38

M A R K E T DATA H OM E S U N D E R $5 0 0 K

M ARKET DATA H O M E S OVE R $ 5 00K

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

-58.8% Change

FOR SALE

-55.8% Change

FOR SALE

SOLD

23.6% Change

SOLD

96.3% Change

PENDED

60.8% Change

PENDED

72.7% Change

49

168

42

56

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

173

1

53

2.8

NUMBER OF SALES

MONTHS OF INVENTORY

NUMBER OF SALES

MONTHS OF INVENTORY

$702K

100

AVERAGE SOLD PRICE

AVERAGE DAYS ON MARKET

$295K AVERAGE SOLD PRICE

52 AVERAGE DAYS ON MARKET

39

Forsyth County, GA

MARKET TRENDS

C U M MIN G | COA L MO U NTAI N | CHESTATEE | DUCKTOWN M ATT | SI LVER CI TY

Although home inventory saw a decrease from previous years, the 2020 third quarter proved to be positive for those looking to sell in Forsyth County AREA: 247 SQUARE MILES

as days on the market remained low and the average sales price grew. The luxury market saw an increase of 107.1% year-over-year for pending contracts, which could indicate a strong close to the rest of 2020 in terms of sales volume. Despite the decrease in homes for sale, the luxury market grew 71.8% compared to

POPULATION: 244,252 (2019)

2019 for homes sold during the third quarter. For homes priced below $500k there was a positive uptick of 5.4%, proving that the market still exhibited growth when compared to last year’s third quarter.

40

M A R K E T DATA H OM E S U N D E R $5 0 0 K

M ARKET DATA H O M E S OVE R $ 5 00K

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

FOR SALE

-63.3% Change 5.4% Change

SOLD

18.3% Change

PENDED

FOR SALE

-50.1% Change

SOLD

71.8% Change

PENDED

107.1% Change

326

1,135

246

464

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

1,210

0.9

426

2

NUMBER OF SALES

MONTHS OF INVENTORY

NUMBER OF SALES

MONTHS OF INVENTORY

$669K

54

AVERAGE SOLD PRICE

AVERAGE DAYS ON MARKET

$347K AVERAGE SOLD PRICE

34 AVERAGE DAYS ON MARKET

41

Habersham County, GA

MARKET TRENDS

ALTO | B A L DW IN | CLARKESVI LLE | CORNELI A DE MO R E ST | MT. AI RY | TALLULAH FALLS

The Habersham County market experienced an incredible third quarter, likely due to the built-up demand stemming from the COVID-19 restrictions AREA: 279 SQUARE MILES

that inflicted this year’s second quarter. For homes priced below $750k there was a strong sales increase of over 84% year-over-year and pending contracts rose 107.4% compared to last year. Not only did the luxury market experience an increase in inventory, but the number of sales rose 500%

POPULATION: 45,328 (2019)

and pending transactions were up an incredible 1,000% versus 2019. The high number of pending contracts across both markets are a strong indication that the fourth quarter will prove to be successful in terms of sales volume in Habersham County.

42

M A R K E T DATA H OM E S U N D E R $5 0 0 K

M ARKET DATA H O M E S OVE R $ 5 00K

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

-44.10% Change

FOR SALE

19% Change

SOLD

27.40% Change

PENDED

-3.40% Change

FOR SALE

SOLD

400% Change

PENDED

250% Change

90

205

28

25

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

182

1.7

15

7.4

NUMBER OF SALES

MONTHS OF INVENTORY

NUMBER OF SALES

MONTHS OF INVENTORY

$690K

112

AVERAGE SOLD PRICE

AVERAGE DAYS ON MARKET

$227K AVERAGE SOLD PRICE

54 AVERAGE DAYS ON MARKET

43

Hall County, GA

MARKET TRENDS

C L E R M O N T | F LOW E RY BRANCH | GAI NESVI LLE | OAKWOOD

In Jackson County Georgia, the luxury market experienced an 41.7% sales increase versus the previous year and a 100% increase year-over-year for AREA: 429 SQUARE MILES

homes pending. The general real estate market saw an 32.4% growth in sales and pending transactions rose 44.1% compared to the previous year. The average days on market remain relatively low as homes under $500k lasted an estimated 46 days and luxury properties lasted an average of 58 days.

POPULATION: 204,441 (2019)

44

M A R K E T DATA H OM E S U N D E R $5 0 0 K

M ARKET DATA H O M E S OVE R $ 5 00K

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

FOR SALE

-48.9% Change

FOR SALE

SOLD

23.8% Change

SOLD

PENDED

21.6% Change

PENDED

-28.6% Change 97.1% Change

129.2% Change

369

855

167

189

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

858

1.4

136

3.8

NUMBER OF SALES

MONTHS OF INVENTORY

NUMBER OF SALES

MONTHS OF INVENTORY

$746K

96

AVERAGE SOLD PRICE

AVERAGE DAYS ON MARKET

$289K AVERAGE SOLD PRICE

59 AVERAGE DAYS ON MARKET

45

Jackson County, GA

MARKET TRENDS

J E F F E R SO N – CO MMERCE - HOSCHTON – PENDERGRASS N IC HOLSON- TALMO - ARCADE In Jackson County Georgia, the luxury market experienced an 41.7% sales increase versus the previous year and a 100% increase year-over-year for AREA: 342 SQUARE MILES

homes pending. The general real estate market saw an 32.4% growth in sales and pending transactions rose 44.1% compared to the previous year. The average days on market remain relatively low as homes under $500k lasted an estimated 46 days and luxury properties lasted an average of 58 days.

POPULATION: 72,988 (2019)

46

M A R K E T DATA H OM E S U N D E R $5 0 0 K

M ARKET DATA H O M E S OVE R $ 5 00K

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

FOR SALE

-44.2% Change

FOR SALE

-38.1% Change 157.1% Change

SOLD

30.8% Change

SOLD

PENDED

28.3% Change

PENDED

75% Change

745

581

84

33

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

548

1.4

18

5.3

NUMBER OF SALES

MONTHS OF INVENTORY

NUMBER OF SALES

MONTHS OF INVENTORY

$543

44

AVERAGE SOLD PRICE

AVERAGE DAYS ON MARKET

$273K AVERAGE SOLD PRICE

46 AVERAGE DAYS ON MARKET

47

Lumpkin County, GA

MARKET TRENDS

DAHLO N E GA | N IMBLEWI LL | GARLAND | AURARI A

Lumpkin County experienced a highly successful third quarter. The number of sold luxury properties increased by 350%, while the amount of pending luxury AREA: 284 SQUARE MILES

sales rose by 850% compared to the 2019 third quarter.

This unprecedented surplus of pending transactions could be foreshadowing for a prudent fourth quarter in terms of luxury closings in Lumpkin County. The overall real estate market experienced growth yearover-year and the total number of sold properties

POPULATION: 32,995 (2019)

saw an increase. All of these statistics, combined, indicate that the Lumpkin County real estate market has a high probability of finishing the year strong.

48

MA R K E T DATA H OM E S U N D E R $5 0 0 K

M ARK E T DATA H O M ES OVE R $ 5 00K

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

-65.3% Change

FOR SALE

15.3% Change

SOLD

29% Change

PENDED

FOR SALE

-40% Change

SOLD

350% Change

PENDED

850% Change

42

125

21

14

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

128

1.1

9

15.5

NUMBER OF SALES

MONTHS OF INVENTORY

NUMBER OF SALES

MONTHS OF INVENTORY

$664K

258

AVERAGE SOLD PRICE

AVERAGE DAYS ON MARKET

$240K AVERAGE SOLD PRICE

37 AVERAGE DAYS ON MARKET

49

Newton County, GA

MARKET TRENDS

COV IN GTO N | OX F O RD | MANSFI ELD | PORTERDALE | NEWBORN

Like much of the state of Georgia, the Newton County home inventory remained low. Sellers in this are experienced less competition when selling their home AREA: 279 SQUARE MILES

which lead to higher sales prices in a shorter amount of time. The number of closed listings in the luxury and general market both grew by approximately 25%. This could be due to the fact that many signed contracts that were expected to close earlier in the year were forced to be delayed due to COVID-19 guidelines. The

POPULATION: 111,744 (2019)

number of pending contracts for luxury properties dropped by 42.9% year-over-year which could have an impact on the fourth quarter sales number.

Despite the low number of luxury sales, inventory, and pending transactions, the Newton County market, as a whole, remained steady throughout the third quarter

50

M A R K E T DATA H OM E S U N D E R $5 0 0 K

M ARKET DATA H O M E S OVE R $ 5 00K

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

FOR SALE

-63.3% Change

-11.1% Change

FOR SALE

SOLD

24.5% Change

SOLD

25% Change

PENDED

27.4% Change

PENDED

-42.9% Change

116

413

16

10

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

386

1

5

NUMBER OF SALES

MONTHS OF INVENTORY

$226K AVERAGE SOLD PRICE

41 AVERAGE DAYS ON MARKET

NUMBER OF SALES

12.3 MONTHS OF INVENTORY

$606K

90

AVERAGE SOLD PRICE

AVERAGE DAYS ON MARKET

51

Paulding County, GA

MARKET TRENDS

DALLAS | HI RAM

The Paulding County general real estate market appeared to remain fairly consistent when compared to the previous year. However, the luxury-specific AREA: 314 SQUARE MILES

market experienced significant growth in terms of homes sold and pending sales. The number of luxury sales increased by over 200% and pending contracts were up 300% versus 2019. This could mean that fourth quarter sales will increase as these pending contracts will soon begin to close, indicating that the

POPULATION: 168,667 (2019)

52

Paulding County luxury market will remain strong

M A R K E T DATA H OM E S U N D E R $5 0 0 K

M ARKET DATA H O M E S OVE R $ 5 00K

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

FOR SALE

-53.7% Change 0% Change

SOLD

12.9% Change

PENDED

-29.4% Change

FOR SALE

200% Change

SOLD

314.3% Change

PENDED

294

1,070

24

46

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

1,028

0.9

21

3.5

NUMBER OF SALES

MONTHS OF INVENTORY

NUMBER OF SALES

MONTHS OF INVENTORY

$661K

83

AVERAGE SOLD PRICE

AVERAGE DAYS ON MARKET

$254K AVERAGE SOLD PRICE

28 AVERAGE DAYS ON MARKET

53

Rabun County, GA

MARKET TRENDS

C L AY TO N | DIL LA R D | MOUNTAI N CI TY | TALLULAH FAL L S SKY VALLEY | TI GER

Rabun County continued to feel the effects of the slow spring market as inventory remained low and the overall number of sales were down yearAREA: 377 SQUARE MILES

over-year. On the bright side, the number of luxury homes pending rose to 50% meaning that the market could recover in terms of sales volume as these contracts begin to close in the fourth quarter.

POPULATION: 16,867 (2019)

54

MA R K E T DATA H OM E S U N D E R $5 0 0 K

M ARK E T DATA H O M ES OVE R $ 5 00K

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

-54.60% Change

FOR SALE

-57% Change

FOR SALE

SOLD

47.30% Change

SOLD

111% Change

PENDED

33.30% Change

PENDED

90% Change

89

152

56

48

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

165

1.9

57

3.1

NUMBER OF SALES

MONTHS OF INVENTORY

NUMBER OF SALES

MONTHS OF INVENTORY

$1.4M

193

AVERAGE SOLD PRICE

AVERAGE DAYS ON MARKET

$250K AVERAGE SOLD PRICE

106 AVERAGE DAYS ON MARKET

55

Spalding County, GA

MARKET TRENDS

G R IF F IN | SUNNY SI DE | ORCHARD HI LL

Located south of Atlanta, Spalding County’s overall real estate market experienced a slight increase in homes sold, finishing out the third quarter with a AREA: 200 SQUARE MILES

7.7% gain year-over-year. Pending sales also rose 82.8% versus last year and could contribute to a strong fourth quarter in terms of homes sold. The luxury-specific market experienced a decrease in both sales and pending contracts, likely due to the low amount of luxury inventory in Spalding County.

POPULATION: 66,703 (2019)

56

MA R K E T DATA H OM E S U N D E R $5 0 0 K

M ARK E T DATA H O M ES OVE R $ 5 00K

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

-8.6% Change

FOR SALE

7.7% Change

SOLD

82.8% Change

PENDED

-33.3% Change

FOR SALE

-100% Change

SOLD

NA% Change

PENDED

32

70

2

2

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

42

2.1

0

1.3

NUMBER OF SALES

MONTHS OF INVENTORY

NUMBER OF SALES

MONTHS OF INVENTORY

$0

0

AVERAGE SOLD PRICE

AVERAGE DAYS ON MARKET

$189K AVERAGE SOLD PRICE

40 AVERAGE DAYS ON MARKET

57

Walton County, GA

MARKET TRENDS

M ON R O E | WA L N UT GR OVE | BETWEEN GOOD HOPE & J ER S E Y

The third quarter proved to be prosperous for the Walton County luxury real estate market as sales rose an estimated 100% year-over-year. Pending AREA: 330 SQUARE MILES

luxury sales were also up over 251% versus last year, indicating that sales volume will continue to rise throughout the remainder of the year as these transactions begin to close. Lower inventory means

that

there

is

less

competition

among

sellers which results in reduced time on the POPULATION: 94,593 (2019)

58

market and will generate maximum sales prices.

M A R K E T DATA H OM E S U N D E R $5 0 0 K

M ARKET DATA H O M E S OVE R $ 5 00K

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

C U R R E N T VS . SA M E QT R 1 Y E A R AG O

FOR SALE

-58.8% Change 2.5% Change

SOLD

12.8% Change

PENDED

-12% Change

FOR SALE

100% Change

SOLD

257.1% Change

PENDED

161

456

44

29

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

NUMBER FOR SALE

NUMBER OF NEW LISTINGS

446

1.2

20

8.6

NUMBER OF SALES

MONTHS OF INVENTORY

NUMBER OF SALES

MONTHS OF INVENTORY

$634

83

AVERAGE SOLD PRICE

AVERAGE DAYS ON MARKET

$275K AVERAGE SOLD PRICE

45 AVERAGE DAYS ON MARKET

59

Vi s i t O u r S e r v i ce P rov i d e r s

All reports are published October 2020, based on data available at the end of September 2020, except for the today’s stats. All reports presented are based on data supplied by the GAMLS and FMLS. GAMLS and FMLS do not guarantee or are not responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed. ©2020 BHH Affiliates, LLC. An independently operated subsidiary of HomeServices of America, Inc., a Berkshire Hathaway affiliate, and a franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of Columbia Insurance Company, a Berkshire Hathaway affiliate. Equal Housing Opportunity.® If your property is currently listed with another brokerage, please disregard this notice.

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