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HOW'S THE MARKET? THIRD QUARTER 2018 NEST REPORT


INSIDE THE PERIMETER MARKET ANALYSIS Third Quarter 2018

Market Snapshot

-12%

$320,000

$1.47B

TOTAL SALES

MEDIAN SALES PRICE

TOTAL VOLUME

There were 3,536 total sales this past quarter compared to 4,008 in Q3 2017. This translates to a 12% year-over-year decrease.

The median sales price this past quarter was $320,000 compared to $289,900 in Q3 2017.

Total sales volume this past quarter totaled $1.47 billion compared to $1.54 billion in Q3 2017.

35

1%

DAYS ON MARKET

CONTRACTS WRITTEN

Homes sold this past quarter spent an average of 35 days on market before being sold.

There were 3,832 contracts written this past quarter compared to 3,790 in Q3 2017. This translates to an 1% year-over-year increase.

Five Year Sales Trend (Total Sales)

4,082

4,000

3,622 3,250 2,692

2,897 2,366

4,008

3,861

3,773

3,414

3,443 3,098

2,709

4,554

4,466

4,304

2,913

3,574 3,133

3,536

3,310

2,000

Average & Median Price Trends

Avg. Sales Price

'18 Q3

'18 Q2

'18 Q1

'17 Q4

'17 Q3

'17 Q2

'17 Q1

'16 Q4

'16 Q3

'16 Q2

'16 Q1

'15 Q4

'15 Q3

'15 Q2

'15 Q1

'14 Q4

'14 Q3

'14 Q2

'14 Q1

'13 Q4

'13 Q3

0

Median Sales Price

$450,000 $400,000

$350,000

$300,000 $250,000 09/2017 10/2017 11/2017 12/2017 01/2018 02/2018 03/2018 04/2018 05/2018 06/2018 07/2018 08/2018 09/2018 09/2017 10/2017 11/2017 12/2017 01/2018 02/2018 03/2018 04/2018 05/2018 06/2018 07/2018 08/2018 09/2018 Average 367,337

379,735

387,140

389,871

382,729

354,617

396,716

397,537

422,692

446,509

419,232

410,563

414,074

275,000

278,950

270,000

303,500

278,250

275,000

300,000

305,000

325,000

345,000

319,900

319,500

321,000

Median


INSIDE THE PERIMETER MARKET ANALYSIS Third Quarter 2018

TOWNHOUSE/CONDO

SINGLE FAMILY

Quarterly Performance & Yearly Growth Total Sales

Median Sales Price

Avg. Days On Market

Avg. List Price

Avg. Sales Price

Avg. $/Sq.Ft.

Total Volume

Contracts Written

2018 Q3

2,135

375,000

36

483,359

470,509

206

$1.00B

2,309

% Change

-10.89%

11.94%

-10.29%

6.46%

6.69%

14.47%

-4.93%

1.99%

2017 Q3

2,396

335,000

41

454,009

441,007

180

$1.06B

2,264

% Change

6.25%

2.76%

-5.77%

1.62%

2.00%

4.62%

8.37%

6.49%

2016 Q3

2,255

326,000

43

446,758

432,375

172

$975.01M

2,126

Total Sales

Median Sales Price

Avg. Days On Market

Avg. List Price

Avg. Sales Price

Avg. $/Sq.Ft.

Total Volume

Contracts Written

2018 Q3

1,401

270,000

32

334,429

329,636

235

$461.82M

1,523

% Change

-13.09%

8.54%

-8.40%

9.34%

9.71%

8.64%

-4.65%

-0.20%

2017 Q3

1,612

248,750

35

305,875

300,468

217

$484.35M

1,526

% Change

0.37%

10.56%

-1.13%

8.04%

8.32%

8.48%

8.72%

-1.17%

2016 Q3

1,606

225,000

36

283,125

277,400

200

$445.50M

1,544

Year-to-Date Sales by Property Type 2016

2017

2018

4,628

4,603

6,475

Single Family

4,573

6,979

Townhouse/Condo

6,827


INSIDE THE PERIMETER MARKET ANALYSIS Third Quarter 2018

Four Year Historical Contract Activity

2015

2016

2017

2018

1750 1500 1250 1000 750 500

2015 2016 2017 2018

January

February

Jan 997 970 1,071 1,245

Feb 1,130 1,234 1,262 1,266

March

April

Mar 1,381 1,463 1,615 1,549

Apr 1,397 1,476 1,466 1,614

May

May 1,370 1,380 1,475 1,461

Four Year Historical Listing Activity

June

July

August

Jun 1,348 1,328 1,403 1,347

Jul 1,164 1,252 1,311 1,309

Aug 1,194 1,275 1,376 1,316

2015

2016

September October November December

Sep 1,055 1,143 1,103 1,207

2017

Oct 1,100 1,162 1,254

Nov 936 964 1,091

Dec 786 811 864

2018

2500 2250 2000 1750 1500 1250 1000 750

2015 2016 2017 2018

January

February

March

April

May

June

July

August

Jan 1,495 1,440 1,635 1,633

Feb 1,540 1,634 1,756 1,819

Mar 1,966 2,104 2,285 2,066

Apr 1,954 2,074 1,927 2,140

May 1,898 1,982 2,027 2,123

Jun 1,862 1,982 1,992 2,042

Jul 1,833 1,771 1,888 1,947

Aug 1,740 1,794 1,978 2,240

September October November December

Sep 1,613 1,785 1,694 1,900

Oct 1,619 1,710 1,721

Nov 1,192 1,250 1,426

Dec 914 886 902

3 KEY TAKEAWAYS 1. Activity in the Greater ITP saw a 12% reduction in total sales this past quarter compared to Q3 2017 due to inventory constraints. Contract activity was comparable to Q3 2017, which means that not all buyers stayed in contract. 2. Overall Q3 2018 median sales price for an ITP home increased to $320,000 compared from $289,000 for Q3 2017. 3. For Q3 2018, ITP Single family homes spent an average of 36 days on market compared to 41 days on market in Q3 2017. Sales prices are trending positively for sellers with an average price per square foot increasing more than 14% year-over-year.


INSIDE THE PERIMETER - EAST MARKET ANALYSIS Third Quarter 2018

Market Snapshot

-16%

$354,525

$577M

TOTAL SALES

MEDIAN SALES PRICE

TOTAL VOLUME

There were 1,346 total sales this past quarter compared to 1,604 in Q3 2017. This translates to a 16% year-over-year decrease.

The median sales price this past quarter was $354,525 compared to $326,950 in Q3 2017.

Total sales volume this past quarter totaled $577 million compared to $631 million in Q3 2017.

31

-3%

DAYS ON MARKET

CONTRACTS WRITTEN

Homes sold ithis past quarter spent an average of 31 days on market before being sold.

There were 1,420 contracts written this past quarter compared to 1,470 in Q3 2017. This translates to a 3% year-over-year decrease.

Five Year Sales Trend (Total Sales) 1,722 1,585 1,500

1,764 1,598

1,420

1,321 1,056

1,000

1,756

1,744 1,604

1,539 1,391

1,100 922

1,230 1,188

1,346

1,296

1,202

1,137

1,028

500

Average & Median Price Trends

Avg. Sales Price

'18 Q3

'18 Q2

'18 Q1

'17 Q4

'17 Q3

'17 Q2

'17 Q1

'16 Q4

'16 Q3

'16 Q2

'16 Q1

'15 Q4

'15 Q3

'15 Q2

'15 Q1

'14 Q4

'14 Q3

'14 Q2

'14 Q1

'13 Q4

'13 Q3

0

Median Sales Price

$450,000 $400,000

$350,000

$300,000 $250,000 09/2017 10/2017 11/2017 12/2017 01/2018 02/2018 03/2018 04/2018 05/2018 06/2018 07/2018 08/2018 09/2018 09/2017 10/2017 11/2017 12/2017 01/2018 02/2018 03/2018 04/2018 05/2018 06/2018 07/2018 08/2018 09/2018 Average 369,040

371,876

421,888

412,859

382,037

369,994

408,188

403,782

428,146

449,508

444,582

425,528

411,520

297,750

305,000

315,000

350,000

319,000

317,000

354,500

338,950

351,000

383,000

355,000

354,525

350,000

Median


INSIDE THE PERIMETER - EAST MARKET ANALYSIS Third Quarter 2018

TOWNHOUSE/CONDO

SINGLE FAMILY

Quarterly Performance & Yearly Growth Total Sales

Median Sales Price

Avg. Days On Market

Avg. List Price

Avg. Sales Price

Avg. $/Sq.Ft.

Total Volume

Contracts Written

2018 Q3

804

425,000

34

505,230

495,128

227

$398.08M

830

% Change

-15.55%

10.39%

-2.79%

8.32%

8.21%

9.09%

-8.62%

-5.36%

2017 Q3

952

385,000

35

466,439

457,581

208

$435.62M

877

% Change

9.80%

8.45%

-1.41%

12.08%

12.24%

8.36%

23.24%

6.82%

2016 Q3

867

355,000

36

416,181

407,684

192

$353.46M

821

Total Sales

Median Sales Price

Avg. Days On Market

Avg. List Price

Avg. Sales Price

Avg. $/Sq.Ft.

Total Volume

Contracts Written

2018 Q3

542

285,000

26

333,439

330,606

266

$179.19M

590

% Change

-16.87%

6.44%

-19.18%

10.02%

10.23%

12.42%

-8.37%

-0.51%

2017 Q3

652

267,750

32

303,079

299,929

237

$195.55M

593

% Change

-2.98%

13.39%

9.51%

8.40%

8.77%

5.36%

5.54%

-9.19%

2016 Q3

672

236,125

29

279,586

275,738

225

$185.30M

653

Year-to-Date Sales by Property Type 2016

2017

2018

1,836

1,902

2,589

Single Family

1,774

2,726

Townhouse/Condo

2,453


INSIDE THE PERIMETER - EAST MARKET ANALYSIS Third Quarter 2018

Four Year Historical Contract Activity

2015

2016

2017

2018

700 600

500

400 300 January

2015 2016 2017 2018

Jan 380 381 432 399

February

Feb 441 502 475 445

March

Mar 550 637 666 578

April

Apr 590 613 547 622

May

June

July

August

May 575 532 571 547

Jun 598 511 555 489

Jul 466 498 532 491

Aug 525 490 533 497

Four Year Historical Listing Activity

2015

2016

September October November December

Sep 393 486 405 432

2017

Oct 456 454 475

Nov 357 416 374

Dec 331 312 315

2018

900 800 700 600 500 400 300

2015 2016 2017 2018

January

February

March

April

May

June

July

August

Jan 539 512 572 496

Feb 568 610 629 639

Mar 760 801 851 748

Apr 806 764 702 778

May 734 762 766 810

Jun 769 756 733 749

Jul 729 681 714 684

Aug 681 685 703 832

September October November December

Sep 625 720 619 676

Oct 641 675 598

Nov 462 449 479

Dec 327 313 334

3 KEY TAKEAWAYS 1. This is one of the most active areas Inside the Perimeter. Despite that, activity in the East saw a significant reduction of 16% in total sales year-over-year. 2. Townhomes/condos saw a reduction of 19% in days on market year-over-year from 32 days to 26 days. Single family homes saw a year-to-year reduction of only 2.7% to 34 average days on market. 3. Median sales price for all property types increased from $298,000 to $350,000 year-over-year for the month of September which reflects the challenge of affordability due to the demand of this area.


INSIDE THE PERIMETER - NORTH MARKET ANALYSIS Third Quarter 2018

Market Snapshot

-6%

$445,000

$577M

TOTAL SALES

MEDIAN SALES PRICE

TOTAL VOLUME

There were 990 total sales this past quarter compared to 1,054 in Q3 2017. This translates to a 6% year-over-year decrease.

The median sales price this past quarter was $445,000 compared to $395,923 in Q3 2017.

Total sales volume this past quarter totaled $577 million compared to $601 million in Q3 2017.

44

4%

DAYS ON MARKET

CONTRACTS WRITTEN

Homes sold this past quarter spent an average of 44 days on market before being sold.

There were 1,013 contracts written this past quarter compared to 1,049 in Q3 2017. This translates to an 4% year-over-year increase.

Five Year Sales Trend (Total Sales)

1,111

1,055

948 821

1,146

1,094

1,049

1,000

916

842

761

1,301

1,268

1,244

1,276 1,054 1,029

979

990

978

873

846

500

Average & Median Price Trends

Avg. Sales Price

'18 Q3

'18 Q2

'18 Q1

'17 Q4

'17 Q3

'17 Q2

'17 Q1

'16 Q4

'16 Q3

'16 Q2

'16 Q1

'15 Q4

'15 Q3

'15 Q2

'15 Q1

'14 Q4

'14 Q3

'14 Q2

'14 Q1

'13 Q4

'13 Q3

0

Median Sales Price

$700,000 $600,000

$500,000

$400,000 $300,000 09/2017 10/2017 11/2017 12/2017 01/2018 02/2018 03/2018 04/2018 05/2018 06/2018 07/2018 08/2018 09/2018 09/2017 10/2017 11/2017 12/2017 01/2018 02/2018 03/2018 04/2018 05/2018 06/2018 07/2018 08/2018 09/2018 Average 554,103

578,899

546,891

558,503

600,840

498,485

573,569

575,566

609,727

662,993

572,401

577,871

610,028

395,000

424,500

394,000

405,000

465,000

390,000

432,435

462,000

470,000

510,000

442,050

464,500

430,000

Median


INSIDE THE PERIMETER - NORTH MARKET ANALYSIS Third Quarter 2018

TOWNHOUSE/CONDO

SINGLE FAMILY

Quarterly Performance & Yearly Growth Total Sales

Median Sales Price

Avg. Days On Market

Avg. List Price

Avg. Sales Price

Avg. $/Sq.Ft.

Total Volume

Contracts Written

2018 Q3

486

630,500

47

834,414

802,374

252

$389.95M

482

% Change

3.40%

-9.92%

-19.59%

-8.48%

-7.80%

4.04%

-4.66%

7.35%

2017 Q3

470

699,900

58

911,740

870,230

242

$409.01M

449

% Change

-10.65%

7.43%

-1.94%

1.41%

1.26%

1.78%

-9.52%

-9.84%

2016 Q3

526

651,500

59

899,097

859,411

238

$452.05M

498

Total Sales

Median Sales Price

Avg. Days On Market

Avg. List Price

Avg. Sales Price

Avg. $/Sq.Ft.

Total Volume

Contracts Written

2018 Q3

504

289,950

41

378,287

371,104

229

$187.04M

567

% Change

-13.70%

20.81%

1.80%

12.08%

12.92%

7.35%

-2.55%

0.53%

2017 Q3

584

240,000

41

337,526

328,638

213

$191.92M

564

% Change

-5.81%

5.49%

-7.78%

5.11%

5.32%

9.64%

-0.80%

-4.57%

2016 Q3

620

227,500

44

321,129

312,051

195

$193.47M

591

Year-to-Date Sales by Property Type 2016

2017

1,470

1,535 1,725

2018

1,758

Single Family

1,546 1,698

Townhouse/Condo


INSIDE THE PERIMETER - NORTH MARKET ANALYSIS Third Quarter 2018

Four Year Historical Contract Activity

2015

2016

2017

2018

500 400

300

200 100 January

2015 2016 2017 2018

Jan 306 307 305 391

February

Feb 369 358 369 388

March

Mar 429 418 450 425

April

Apr 407 460 435 475

May

May 434 405 431 408

Four Year Historical Listing Activity

June

Jun 377 390 385 367

2015

July

Jul 346 379 334 366

August

September October

Aug 327 388 371 355

2016

Sep 334 322 308 328

2017

Oct 322 331 358

November December

Nov 272 268 316

Dec 203 212 229

2018

800 700 600 500 400 300 200

2015 2016 2017 2018

January

February

March

April

May

June

July

August

Jan 478 482 543 572

Feb 498 540 599 576

Mar 655 721 747 655

Apr 640 693 586 673

May 614 630 625 600

Jun 560 622 583 578

Jul 551 588 534 554

Aug 489 554 620 615

September October November December

Sep 521 550 528 601

Oct 478 488 532

Nov 323 379 426

Dec 275 242 233

3 KEY TAKEAWAYS 1. Sales prices for single family homes fell by 9.9% year-over-year while townhomes/condos rose by more than 20%. This trend shows downward pressure at the top of the market and the demand for more affordable (attached) inventory. 2. During the Q3 2018, we saw a whooping 20% year-over-year reduction in single family homes average days on market falling to 47 days from 58, which reflects pricing corrections. Townhomes/condos remained unchanged at 41 days. 3. Median sales price for all property types increased year-over-year ending for the month of September.


INSIDE THE PERIMETER - SOUTHEAST MARKET ANALYSIS Third Quarter 2018

Market Snapshot

-10%

$267,500

$104M

TOTAL SALES

MEDIAN SALES PRICE

TOTAL VOLUME

There were 365 total sales this past quarter compared to 407 in Q3 2017. This translates to a 10% year-over-year decrease.

The median sales price this past quarter was $267,500 compared to $250,000 in Q3 2017.

Total sales volume this past quarter totaled $104 million compared to $107 million in Q3 2017.

31

10%

DAYS ON MARKET

CONTRACTS WRITTEN

Homes sold this past quarter spent an average of 31 days on market before being sold.

There were 405 contracts written this past quarter compared to 368 in Q3 2017. This translates to an 10% year-over-year increase.

Five Year Sales Trend (Total Sales)

419

407

400 295

287

'14 Q4

281

'14 Q3

304

345

336

448 407

372 330

310

270

365 317

290

318

299

326

219 200

Average & Median Price Trends

Avg. Sales Price

'18 Q3

'18 Q2

'18 Q1

'17 Q4

'17 Q3

'17 Q2

'17 Q1

'16 Q4

'16 Q3

'16 Q2

'16 Q1

'15 Q4

'15 Q3

'15 Q2

'15 Q1

'14 Q2

'14 Q1

'13 Q4

'13 Q3

0

Median Sales Price

$300,000

$250,000

$200,000

$150,000 09/2017 10/2017 11/2017 12/2017 01/2018 02/2018 03/2018 04/2018 05/2018 06/2018 07/2018 08/2018 09/2018 09/2017 10/2017 11/2017 12/2017 01/2018 02/2018 03/2018 04/2018 05/2018 06/2018 07/2018 08/2018 09/2018 Average 253,053

244,865

247,474

260,813

216,359

252,345

266,376

275,084

280,755

283,194

279,063

292,746

284,758

232,000

235,000

242,500

267,805

170,000

245,000

243,000

267,000

295,000

266,000

252,500

280,000

271,000

Median


INSIDE THE PERIMETER - SOUTHEAST MARKET ANALYSIS Third Quarter 2018

TOWNHOUSE/CONDO

SINGLE FAMILY

Quarterly Performance & Yearly Growth Total Sales

Median Sales Price

Avg. Days On Market

Avg. List Price

Avg. Sales Price

Avg. $/Sq.Ft.

Total Volume

Contracts Written

2018 Q3

301

292,000

33

299,063

295,616

172

$88.98M

347

% Change

-15.45%

12.85%

-13.10%

10.88%

10.80%

7.74%

-6.32%

10.16%

2017 Q3

356

258,750

38

269,725

266,802

160

$94.98M

315

% Change

9.20%

2.48%

15.17%

6.32%

6.90%

7.50%

16.74%

9.76%

2016 Q3

326

252,500

33

253,688

249,570

149

$81.36M

287

Total Sales

Median Sales Price

Avg. Days On Market

Avg. List Price

Avg. Sales Price

Avg. $/Sq.Ft.

Total Volume

Contracts Written

2018 Q3

64

226,250

24

241,981

238,888

194

$15.29M

58

% Change

25.49%

0.60%

21.64%

3.65%

3.14%

10.56%

29.43%

9.43%

2017 Q3

51

224,900

20

233,471

231,624

176

$11.81M

53

% Change

10.87%

8.26%

-10.77%

20.04%

19.72%

24.13%

32.74%

15.22%

2016 Q3

46

207,750

22

194,498

193,464

141

$8.90M

46

Year-to-Date Sales by Property Type 2016

2017

2018

131

144

925

164

994

Single Family

Townhouse/Condo

975


INSIDE THE PERIMETER - SOUTHEAST MARKET ANALYSIS Third Quarter 2018

Four Year Historical Contract Activity

2015

2016

2017

2018

200

150

100

50 January

2015 2016 2017 2018

Jan 98 90 84 122

February

Feb 93 123 138 126

March

Mar 123 130 163 150

April

Apr 116 136 146 159

May

May 127 140 128 143

Four Year Historical Listing Activity

June

Jun 129 132 140 154

2015

July

Jul 112 117 136 133

August

September October

Aug 85 118 127 139

2016

Sep 92 98 105 133

2017

Oct 123 122 115

November December

Nov 109 78 98

Dec 74 66 84

2018

300 250 200 150 100 50 January

2015 2016 2017 2018

Jan 137 114 160 163

February

Feb 128 130 168 184

March

Mar 175 196 203 197

April

Apr 177 174 181 187

May

May 168 188 170 220

June

Jun 172 168 231 259

July

August

Jul 172 153 178 206

Aug 165 160 180 248

September October

Sep 137 154 140 173

Oct 175 171 177

November December

Nov 116 115 139

Dec 94 86 93

3 KEY TAKEAWAYS 1. Contract activity is ramping up as we move into the fourth quarter with the number of contacts written in the Q3 2018 increasing by 10%. This is a positive indicator for the fourth quarter. The Beltline expansion is becoming a driver for this area. 2. The Southeast experienced a 10% decrease in year-over-year total sales, while the median sales price increased 7% to $267,000 from $250,000 in Q3 2017. 3. With the area's new townhomes/condos construction coming online in Q3, we see a 25% in the total number of sales volume from 51 sales in Q3 2017 to 64 sales this quarter indicating new development options.


INSIDE THE PERIMETER - SOUTHWEST MARKET ANALYSIS Third Quarter 2018

Market Snapshot

-5%

$180,000

$74M

TOTAL SALES

MEDIAN SALES PRICE

TOTAL VOLUME

There were 377 total sales this past quarter compared to 397 in Q3 2017. This translates to a 5% year-over-year decrease.

The median sales price this past quarter was $180,000 compared to $142,000 in Q3 2017.

Total sales volume this past quarter totaled $74 million compared to $61 million in Q3 2017.

30

6%

DAYS ON MARKET

CONTRACTS WRITTEN

Homes sold this past quarter spent an average of 30 days on market before being sold.

There were 456 contracts written this past quarter compared to 429 in Q3 2017. This translates to an 6% year-over-year increase.

Five Year Sales Trend (Total Sales) 484 440

224

270

249

243

369

397 345

351

'17 Q1

218

286 239

'16 Q1

290

'15 Q4

'13 Q4

259

'15 Q1

247

'14 Q4

236

'13 Q3

342

'16 Q4

400

434 392

377

200

Average & Median Price Trends

Avg. Sales Price

'18 Q3

'18 Q2

'18 Q1

'17 Q4

'17 Q3

'17 Q2

'16 Q3

'16 Q2

'15 Q3

'15 Q2

'14 Q3

'14 Q2

'14 Q1

0

Median Sales Price

$220,000 $200,000 $180,000 $160,000 $140,000 $120,000 09/2017 10/2017 11/2017 12/2017 01/2018 02/2018 03/2018 04/2018 05/2018 06/2018 07/2018 08/2018 09/2018 09/2017 10/2017 11/2017 12/2017 01/2018 02/2018 03/2018 04/2018 05/2018 06/2018 07/2018 08/2018 09/2018 Average 152,373

164,369

156,404

167,115

158,947

161,851

173,549

198,818

175,708

195,600

195,205

202,417

190,708

135,000

167,184

140,750

157,950

147,600

156,000

166,700

188,000

169,000

177,250

181,111

177,000

180,000

Median


INSIDE THE PERIMETER - SOUTHWEST MARKET ANALYSIS Third Quarter 2018

TOWNHOUSE/CONDO

SINGLE FAMILY

Quarterly Performance & Yearly Growth Total Sales

Median Sales Price

Avg. Days On Market

Avg. List Price

Avg. Sales Price

Avg. $/Sq.Ft.

Total Volume

Contracts Written

2018 Q3

342

181,861

30

200,797

197,671

126

$67.60M

413

% Change

-9.76%

25.42%

-15.14%

25.54%

26.17%

31.44%

13.85%

1.72%

2017 Q3

379

145,000

35

159,944

156,676

96

$59.38M

406

% Change

6.46%

32.66%

-26.05%

26.58%

28.18%

30.49%

36.46%

18.71%

2016 Q3

356

109,300

47

126,360

122,229

73

$43.51M

342

Total Sales

Median Sales Price

Avg. Days On Market

Avg. List Price

Avg. Sales Price

Avg. $/Sq.Ft.

Total Volume

Contracts Written

2018 Q3

35

145,000

37

190,566

191,305

129

$6.70M

43

% Change

94.44%

68.07%

-1.50%

78.54%

89.72%

41.37%

268.90%

86.96%

2017 Q3

18

86,275

37

106,737

100,836

91

$1.82M

23

% Change

38.46%

30.72%

-43.35%

14.20%

11.53%

20.25%

54.43%

76.92%

2016 Q3

13

66,000

66

93,462

90,410

76

$1.18M

13

Year-to-Date Sales by Property Type 2016

2017

2018

54

57

897

65

1,134

Single Family

Townhouse/Condo

1,188


INSIDE THE PERIMETER - SOUTHWEST MARKET ANALYSIS Third Quarter 2018

Four Year Historical Contract Activity

2015

2016

2017

2018

200

150

100

50 January

2015 2016 2017 2018

Jan 78 78 115 149

February

Feb 75 99 118 138

March

Mar 113 109 145 178

April

Apr 91 119 153 155

May

May 86 119 148 166

Four Year Historical Listing Activity

June

Jun 82 139 124 151

2015

July

Jul 88 114 136 145

August

September October

Aug 103 127 166 159

2016

Sep 92 114 127 152

2017

Oct 84 114 141

November December

Nov 69 95 145

Dec 78 99 105

2018

300 250 200 150 100 50 January

2015 2016 2017 2018

Jan 137 145 163 183

February

Feb 139 158 163 202

March

Mar 154 169 200 212

April

Apr 146 201 197 204

May

May 146 175 204 224

June

Jun 149 209 176 240

July

August

Jul 144 150 209 253

Aug 165 195 233 262

September October

Sep 138 159 179 255

Oct 146 167 200

November December

Nov 153 140 205

Dec 106 131 125

3 KEY TAKEAWAYS 1. Median sales price this past quarter rose a staggering 26.8% from $142,000 to $180,000 in Q3 2018 indicating this area has become a hotspot for investors and first-time buyers. The Beltline is a driver for these areas. 2. Average days on market shrank by 15% to 30 days from 35 days in Q3 2017. 3. Listing activity remains high above historical averages which is typically favorable to buyers, however the raise in inventory and sales price is benefiting both buyers and sellers.


INSIDE THE PERIMETER - WEST MARKET ANALYSIS Third Quarter 2018

Market Snapshot

-16%

$248,000

$134M

TOTAL SALES

MEDIAN SALES PRICE

TOTAL VOLUME

There were 458 total sales this past quarter compared to 546 in Q3 2017. This translates to a 16% year-over-year decrease.

The median sales price this past quarter was $248,000 compared to $229,000 in Q3 2017.

Total sales volume this past quarter totaled $134 million compared to $141 million in Q3 2017.

33

-2%

DAYS ON MARKET

CONTRACTS WRITTEN

Homes sold this past quarter spent an average of 33 days on market before being sold.

There were 502 contracts written this past quarter compared to 510 in Q3 2017. This translates to an 2% year-over-year decrease.

Five Year Sales Trend (Total Sales) 602

600

334 287

331

360

393 323

345

546 497

435

411

408

'17 Q1

400

481

'16 Q4

485

550

523

477

458

346

246

200

Average & Median Price Trends

Avg. Sales Price

'18 Q3

'18 Q2

'18 Q1

'17 Q4

'17 Q3

'17 Q2

'16 Q3

'16 Q2

'16 Q1

'15 Q4

'15 Q3

'15 Q2

'15 Q1

'14 Q4

'14 Q3

'14 Q2

'14 Q1

'13 Q4

'13 Q3

0

Median Sales Price

$350,000 $300,000

$250,000

$200,000 $150,000 09/2017 10/2017 11/2017 12/2017 01/2018 02/2018 03/2018 04/2018 05/2018 06/2018 07/2018 08/2018 09/2018 09/2017 10/2017 11/2017 12/2017 01/2018 02/2018 03/2018 04/2018 05/2018 06/2018 07/2018 08/2018 09/2018 Average 235,496

253,110

263,548

259,772

243,695

264,906

263,235

287,884

290,867

288,430

315,381

283,219

264,984

215,000

221,500

202,000

235,000

189,950

226,000

240,000

230,000

240,000

252,900

251,500

232,750

248,000

Median


INSIDE THE PERIMETER - WEST MARKET ANALYSIS Third Quarter 2018

TOWNHOUSE/CONDO

SINGLE FAMILY

Quarterly Performance & Yearly Growth Total Sales

Median Sales Price

Avg. Days On Market

Avg. List Price

Avg. Sales Price

Avg. $/Sq.Ft.

Total Volume

Contracts Written

2018 Q3

202

203,000

37

304,702

296,622

209

$59.92M

237

% Change

-15.48%

35.42%

-8.95%

24.28%

22.93%

76.30%

3.90%

9.22%

2017 Q3

239

149,900

41

245,175

241,284

119

$57.67M

217

% Change

32.78%

-34.67%

-2.31%

-4.06%

-2.66%

-3.68%

29.24%

21.91%

2016 Q3

180

229,450

42

255,544

247,889

123

$44.62M

178

Total Sales

Median Sales Price

Avg. Days On Market

Avg. List Price

Avg. Sales Price

Avg. $/Sq.Ft.

Total Volume

Contracts Written

2018 Q3

256

253,600

30

292,961

287,544

208

$73.61M

265

% Change

-16.61%

4.87%

-14.43%

6.41%

6.04%

7.08%

-11.58%

-9.56%

2017 Q3

307

241,815

35

275,309

271,166

194

$83.25M

293

% Change

20.39%

15.15%

3.54%

21.98%

22.04%

19.84%

46.92%

21.58%

2016 Q3

255

210,000

34

225,707

222,201

162

$56.66M

241

Year-to-Date Sales by Property Type 2016

2017

529

775

2018

665

655

849

Single Family

872

Townhouse/Condo


INSIDE THE PERIMETER - WEST MARKET ANALYSIS Third Quarter 2018

Four Year Historical Contract Activity

2015

2016

2017

2018

250 200

150

100 50 January

2015 2016 2017 2018

Jan 135 114 135 184

February

Feb 152 152 162 169

March

Mar 166 169 191 218

April

Apr 193 148 185 203

May

May 148 184 197 197

Four Year Historical Listing Activity

June

Jun 162 156 199 186

2015

July

Jul 152 144 173 174

August

September October

Aug 154 152 179 166

2016

Sep 144 123 158 162

2017

Oct 115 141 165

November December

Nov 129 107 158

Dec 100 122 131

2018

300 250 200 150 100 50 January

2015 2016 2017 2018

Jan 204 187 197 219

February

Feb 207 196 197 218

March

Mar 222 217 284 254

April

Apr 185 242 261 298

May

May 236 227 262 269

June

Jun 212 227 269 216

July

August

Jul 237 199 253 250

Aug 240 200 242 283

September October

Sep 192 202 228 195

Oct 179 209 214

November December

Nov 138 167 177

Dec 112 114 117

3 KEY TAKEAWAYS 1. Activity in the West saw a significant reduction of 16% in total sales year-over-year reflecting the impact of inventory shortages. 2. On the whole, the median sales price this past quarter rose a staggering 8.3% from $229,000 in Q3 2017 to $248,000 in Q3 2018. The median sales price for single family homes increased even more significantly, jumping 35.4% year-over-year. 3. Average days on market declined significantly for both detached and attached property types, 9% and 14% respectively. This indicates the competitive nature of the current market conditions.

Atlanta Q3 2018 Market Report  

An overview of how the Atlanta real estate market performed in the third quarter of 2018.

Atlanta Q3 2018 Market Report  

An overview of how the Atlanta real estate market performed in the third quarter of 2018.

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