While most of our analysis is focused on Alpharetta, Johns Creek, and Roswell, we like to offer our followers broader information from time to time.
The recent update by ChartMaster Services, one of the many tools Keller Williams Realty provides us, just published a detailed report on the Metro Atlanta market for May 2019.
The good news is the median sales price for May compared to May of 2018 is up 1.4% and distressed sales are down to 1.2% vs. 1.9% last year. While months of supply increased to 3.3 months from 2.8, we are still in a seller’s market but a number of Real Estate professionals believe the market is shiting.
Some key indicators have weakened in May when compared to the same period last year: the number of homes sold is down 1.4%, days on market is up 13%, and the number of failed listings increased to 28% compared to 24% last year.
While the real estate market in Metro Atlanta and our local market (Roswell, Alpharetta, and Johns Creek)remain strong, getting a home SOLD moving forward could get harder. We see 2 additional shifts that might be of interest.
The number of active listings compared to last year is up 16%. More supply and not as much demand is likely creating some softer conditions, especially as you move up in price points.
Sellers are focused on past sales when building in expectations and Buyers see more options (inventory). We are seeing Buyers walk away from the negotiating table and move on to the next home as a result of this inventory increase.
Navigating a shifting market can be tricky. Our proven track record and dedicated local marketing platform for the Roswell, Alpharetta, and Johns Creek community has enabled us to deliver superior results over a multi-year period. If you’re thinking of making a move give us a call at 678-665-0202 or email us at robin@robinmartinassoc.com.
