Q1 2023 Luxury Market Update

Page 1

LUXURY MARKET UPDATE

QUARTER 1
- 2023

LUXURY MARKET UPDATE

METRO ATLANTA | QUARTER 1 2023

$1M - $2.5M

HOMES FOR SALE (END Q1)

803 74.9%

COMPARED TO Q1 2022

TOTAL NEW LISTINGS

TOTAL HOMES SOLD

438

46

27.8%

COMPARED TO Q1 2022

1041 $1.42M

21.9%

COMPARED TO Q1 2022

COMPARED TO Q1 2022

AVERAGE SOLD PRICE AVERAGE DAYS ON MARKET

3.6% 0.7%

COMPARED TO Q1 2022

BALANCED MARKET

6 months of inventory

MONTHS OF INVENTORY

5.9

148.1%

COMPARED TO Q1 2022

Source: TrendGraphix. Core Counties combined - Cherokee, Cobb, DeKalb, Forsyth, Fulton, Gwinnett, all residential, $1M - $2.5M, stated period versus same period prior year. The above information is believed to be accurate but is not warranted.

For more information and great insights go to HarryNorman.com/Insights

is a balanced market

LUXURY MARKET UPDATE

METRO ATLANTA | QUARTER 1 2023

$2.5M+

HOMES FOR SALE (END Q1)

TOTAL NEW LISTINGS AVERAGE SOLD PRICE AVERAGE DAYS ON MARKET

TOTAL HOMES SOLD

COMPARED TO Q1 2022

71

275 59.9% 11.2%

COMPARED TO Q1 2022

238 $3.42M

48

COMPARED TO Q1 2022

30.1% 2.6%

COMPARED TO Q1 2022

BUYER’S MARKET

6 months of inventory is a balanced market

COMPARED TO Q1 2022

16.6

23.8% 88.9%

MONTHS OF INVENTORY

COMPARED TO Q1 2022

Source: TrendGraphix. Core Counties combined - Cherokee, Cobb, DeKalb, Forsyth, Fulton, Gwinnett, all residential, $2.5M and above, stated period versus same period prior year. The above information is believed to be accurate but is not warranted.

For more information and great insights go to HarryNorman.com/Insights

TOTAL HOMES SOLD MONTHS OF INVENTORY TOTAL NEW LISTINGS AVERAGE SOLD PRICE AVERAGE DAYS ON MARKET HOMES FOR SALE (END Q1) $1M - $2.5M For more information and great insights go to HarryNorman.com/Insights LUXURY
BUCKHEAD | QUARTER 1 2023 Source: TrendGraphix. ZIP 30305 (FMLS), ZIP 30318 (FMLS), ZIP 30326 (FMLS), ZIP 30327 (FMLS), ZIP 30342 (FMLS), all residential, $1M - $2.5M, stated period versus same period prior year. The above information is believed to be accurate but is not warranted. BALANCED MARKET 6 months of inventory is a balanced market 73 6 171 $1.58M 51 123 50% 13.3% 4.5% 7.1% 41.6% 217.4% COMPARED TO Q1 2022 COMPARED TO Q1 2022 COMPARED TO Q1 2022 COMPARED TO Q1 2022 COMPARED TO Q1 2022 COMPARED TO Q1 2022
MARKET UPDATE
TOTAL HOMES SOLD MONTHS OF INVENTORY TOTAL NEW LISTINGS AVERAGE SOLD PRICE AVERAGE DAYS ON MARKET HOMES FOR SALE (END Q1) $2.5M+ For more information and great insights go to HarryNorman.com/Insights
BUCKHEAD | QUARTER 1 2023 Source: TrendGraphix. ZIP 30305 (FMLS), ZIP 30318 (FMLS), ZIP 30326 (FMLS), ZIP 30327 (FMLS), ZIP 30342 (FMLS), all residential, $2.5M and above stated period versus same period prior year. The above information is believed to be accurate but is not warranted. 27 11.6 118 $3.71M 72 117 60.3% 27.3% 61.6% 3.8% 22.9% 84.6% COMPARED TO Q1 2022
TO Q1 2022
TO Q1 2022
TO Q1 2022
TO Q1 2022
TO Q1 2022 BUYER’S MARKET 6 months of inventory is a balanced market
LUXURY MARKET UPDATE
COMPARED
COMPARED
COMPARED
COMPARED
COMPARED

LUXURY MARKET UPDATE

CHEROKEE COUNTY | QUARTER 1 2023

$1M+

HOMES FOR SALE (END Q1)

84

75%

COMPARED TO Q1 2022

71

TOTAL NEW LISTINGS AVERAGE SOLD PRICE AVERAGE DAYS ON MARKET

52

33.3%

COMPARED TO Q1 2022

TOTAL HOMES SOLD

19

5%

COMPARED TO Q1 2022

COMPARED TO Q1 2022

$1.63M

14.5% 3%

COMPARED TO Q1 2022

MONTHS OF INVENTORY

14.4

122%

COMPARED TO Q1 2022

BUYER’S MARKET

6 months of inventory is a balanced market

Source: TrendGraphix. CHEROKEE COUNTY (FMLS), all residential, $1M+, stated period versus same period prior year. The above information is believed to be accurate but is not warranted.

For more information and great insights go to HarryNorman.com/Insights

LUXURY MARKET UPDATE

COWETA | QUARTER 1 2023

$1M+

HOMES FOR SALE (END Q1)

17

41.7%

COMPARED TO Q1 2022

TOTAL NEW LISTINGS

19

90%

COMPARED TO Q1 2022

TOTAL HOMES SOLD

4

AVERAGE SOLD PRICE AVERAGE DAYS ON MARKET

64

55.2%

COMPARED TO Q1 2022

$1.16M

9.6%

COMPARED TO Q1 2022

33.3%

COMPARED TO Q1 2022

MONTHS OF INVENTORY

11.5

21.1%

COMPARED TO Q1 2022

BUYER’S MARKET

6 months of inventory is a balanced market

Source: TrendGraphix. COWETA COUNTY (GAMLS), all residential, $1M+, stated period versus same period prior year. The above information is believed to be accurate but is not warranted.

For more information and great insights go to HarryNorman.com/Insights

TOTAL HOMES SOLD MONTHS OF INVENTORY TOTAL NEW LISTINGS AVERAGE SOLD PRICE AVERAGE DAYS ON MARKET HOMES FOR SALE (END Q1) $1M+ For more information and great insights go to HarryNorman.com/Insights
DUNWOODY & SANDY SPRINGS | QUARTER 1 2023 Source: TrendGraphix. ZIP 30319 (FMLS), ZIP 30327 (FMLS), ZIP 30328 (FMLS), ZIP 30338 (FMLS), ZIP 30339 (FMLS), ZIP 30342 (FMLS), ZIP 30350 (FMLS), all residential, $1M+, stated period versus same period prior year. The above information is believed to be accurate but is not warranted. 113 6 299 $1.91M 52 218 62.7% 33.3% 6% 5.6% 32.7% 131.3% COMPARED TO Q1 2022 COMPARED TO Q1 2022 COMPARED TO Q1 2022 COMPARED TO Q1 2022 COMPARED TO Q1 2022 COMPARED TO Q1 2022 BALANCED MARKET 6 months of inventory is a balanced market
LUXURY MARKET UPDATE

LUXURY MARKET UPDATE

48.8%

COMPARED

COMPARED

COMPARED TO Q1 2022

For more information and great insights go to HarryNorman.com/Insights

TOTAL HOMES SOLD MONTHS OF INVENTORY TOTAL NEW LISTINGS AVERAGE SOLD PRICE AVERAGE DAYS ON MARKET HOMES FOR SALE (END Q1) $1M+
EAST COBB | QUARTER 1 2023 Source: TrendGraphix. ZIP 30062 (FMLS), ZIP 30066 (FMLS), ZIP 30067 (FMLS), ZIP 30068 (FMLS), ZIP 30075 (FMLS), all residential, $1M+, stated period versus same period prior year. The above information is believed to be accurate but is not warranted.
97
35 6.8
$1.46M 64 87 70.6%
14.1%
5.4% 23.9%
2022
101.4% COMPARED TO Q1
COMPARED TO Q1 2022
TO Q1 2022
COMPARED TO Q1 2022
TO Q1 2022
BALANCED MARKET 6 months of inventory is a balanced market

LUXURY MARKET UPDATE

FAYETTE COUNTY | QUARTER 1 2023

$1M+

HOMES FOR SALE (END Q1)

22

15.8%

COMPARED TO Q1 2022

TOTAL NEW LISTINGS

37

TOTAL HOMES SOLD

15

36.4%

COMPARED TO Q1 2022

AVERAGE SOLD PRICE AVERAGE DAYS ON MARKET

41

2.4%

COMPARED TO Q1 2022

$1.3M

27.6% 0.3%

COMPARED TO Q1 2022

SELLER’S MARKET

6 months of inventory is a balanced market

COMPARED TO Q1 2022

MONTHS OF INVENTORY

4.8

9%

COMPARED TO Q1 2022

Source: TrendGraphix. FAYETTE COUNTY (GAMLS), all residential, $1M+, stated period versus same period prior year. The above information is believed to be accurate but is not warranted.

For more information and great insights go to HarryNorman.com/Insights

LUXURY MARKET UPDATE

FORSYTH COUNTY | QUARTER 1 2023

$1M+

HOMES FOR SALE (END Q1)

65

47.7%

COMPARED TO Q1 2022

38

40.7%

COMPARED TO Q1 2022

86

10.3%

TOTAL NEW LISTINGS AVERAGE SOLD PRICE AVERAGE DAYS ON MARKET

COMPARED TO Q1 2022

$1.44M

3.9%

COMPARED TO Q1 2022

TOTAL HOMES SOLD

31

29.5%

COMPARED TO Q1 2022

MONTHS OF INVENTORY

8.7

257.2%

COMPARED TO Q1 2022

BUYER’S MARKET

6 months of inventory is a balanced market

Source: TrendGraphix. FORSYTH COUNTY (FMLS), all residential, $1M+, stated period versus same period prior year. The above information is believed to be accurate but is not warranted.

For more information and great insights go to HarryNorman.com/Insights

LUXURY MARKET UPDATE

GWINNETT COUNTY | QUARTER 1 2023

$1M+

HOMES FOR SALE (END Q1)

96

74.5%

COMPARED TO Q1 2022

TOTAL NEW LISTINGS

31

13.9%

COMPARED TO Q1 2022

AVERAGE SOLD PRICE AVERAGE DAYS ON MARKET

50

66.7%

COMPARED TO Q1 2022

$1.46M

2.7%

COMPARED TO Q1 2022

BALANCED MARKET

6 months of inventory is a balanced market

TOTAL HOMES SOLD

19

9.5%

COMPARED TO Q1 2022

MONTHS OF INVENTORY

5.1

95.5%

COMPARED TO Q1 2022

Source: TrendGraphix. GWINNETT COUNTY (FMLS), all residential, $1M+, stated period versus same period prior year. The above information is believed to be accurate but is not warranted.

For more information and great insights go to HarryNorman.com/Insights

LUXURY MARKET UPDATE

TOTAL HOMES SOLD MONTHS OF INVENTORY TOTAL NEW LISTINGS AVERAGE SOLD PRICE AVERAGE DAYS ON MARKET HOMES FOR SALE (END Q1) $1M+ For more information and great insights go to HarryNorman.com/Insights
INTOWN | QUARTER 1 2023 Source: TrendGraphix. ZIP 30306 (FMLS), ZIP 30307 (FMLS), ZIP 30308 (FMLS), ZIP 30309 (FMLS), ZIP 30312 (FMLS), ZIP 30316 (FMLS), ZIP 30317 (FMLS), ZIP 30324 (FMLS), ZIP 30329 (FMLS), all residential, $1M+, stated period versus same period prior year. The above information is believed to be accurate but is not warranted. 68 6.4 188 $1.59M 39 142 91.9% 34.5% 1.1% 1.4% 33.3% 175.9% COMPARED TO Q1 2022 COMPARED TO Q1 2022 COMPARED TO Q1 2022 COMPARED TO Q1 2022 COMPARED TO Q1 2022 COMPARED TO Q1 2022 BALANCED MARKET 6 months of inventory is a balanced market
TOTAL HOMES SOLD MONTHS OF INVENTORY TOTAL NEW LISTINGS AVERAGE SOLD PRICE AVERAGE DAYS ON MARKET HOMES FOR SALE (END Q1) $1M+ For more information and great insights go to HarryNorman.com/Insights
NORTH FULTON | QUARTER 1 2023 Source: TrendGraphix. ZIP 30004 (FMLS), ZIP 30005 (FMLS), ZIP 30009 (FMLS), ZIP 30022 (FMLS), ZIP 30075 (FMLS), ZIP 30076 (FMLS), all residential, $1M+, stated period versus same period prior year. The above information is believed to be accurate but is not warranted. 93 7.1 237 $1.52M 49 205 56.5% 75% 6.3% 0.2% 12.3% 102.3% COMPARED TO Q1 2022 COMPARED TO Q1 2022 COMPARED TO Q1 2022 COMPARED TO Q1 2022 COMPARED TO Q1 2022 COMPARED TO Q1 2022 BUYER’S MARKET 6 months of inventory is a balanced market
LUXURY MARKET UPDATE
TOTAL HOMES SOLD MONTHS OF INVENTORY TOTAL NEW LISTINGS AVERAGE SOLD PRICE AVERAGE DAYS ON MARKET HOMES FOR SALE (END Q1) $1M+ For more information and great insights go to HarryNorman.com/Insights LUXURY
WEST COBB | QUARTER 1 2023 Source: TrendGraphix. ZIP 30060 (FMLS), ZIP 30062 (FMLS), ZIP 30064 (FMLS), ZIP 30066 (FMLS), ZIP 30080(FMLS), ZIP 30082 (FMLS), ZIP 30101 (FMLS), ZIP 30126 (FMLS), ZIP 30127 (FMLS), ZIP 30144 (FMLS), ZIP 30152 (FMLS), ZIP 30168 (FMLS), ZIP 30339 (FMLS), all residential, $1M+, stated period versus same period prior year. The above information is believed to be accurate but is not warranted. 44 7.3 109 $1.32M 48 111 117.6% 17.2% 32.9% 5.5% 10.2% 120.8% COMPARED TO Q1 2022 COMPARED TO Q1 2022 COMPARED TO Q1 2022 COMPARED TO Q1 2022 COMPARED TO Q1 2022 COMPARED TO Q1 2022 BUYER’S MARKET 6 months of inventory is a balanced market
MARKET UPDATE

LUXURY MARKET UPDATE

BLAIRSVILLE | QUARTER 1 2023

$1M+

HOMES FOR SALE (END Q1)

TOTAL NEW LISTINGS AVERAGE SOLD PRICE AVERAGE DAYS ON MARKET

TOTAL HOMES SOLD

COMPARED TO Q1 2022

98

7 40% 40%

COMPARED TO Q1 2022

9 $1.17M

2

COMPARED TO Q1 2022

80% 7.1%

COMPARED TO Q1 2022

BALANCED MARKET

33.3%

COMPARED TO Q1 2022

MONTHS OF INVENTORY

6

71.4%

COMPARED TO Q1 2022

6 months of inventory is a balanced market

For more information and great insights go to HarryNorman.com/Insights

TrendGraphix. Zip 30512, all residential, $1M+, stated
Source:
period versus same period prior year. The above information is believed to be accurate but is not warranted.

LUXURY MARKET UPDATE

BLUE RIDGE | QUARTER 1 2023

$1M+

HOMES FOR SALE (END Q1)

TOTAL HOMES SOLD

33

COMPARED TO Q1 2022

TOTAL NEW LISTINGS AVERAGE SOLD PRICE AVERAGE DAYS ON MARKET

67

34 100% 71.8%

COMPARED TO Q1 2022

32%

COMPARED TO Q1 2022

$1.75M

8.9%

COMPARED TO Q1 2022

14

7.7%

COMPARED TO Q1 2022

MONTHS OF INVENTORY

9

BUYER’S MARKET 6

130.2%

COMPARED TO Q1 2022

For more information and great insights go to HarryNorman.com/Insights

Source: TrendGraphix. Zip 30513, all residential, $1M+, stated period versus same period prior year. The above information is believed to be accurate but is not warranted
months of inventory is a balanced market
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