All Forum Posts by: David G. Barton

Atlanta REALTORS® Association (ARA), the largest association of its kind in Georgia, released its July 2022 Market Brief on residential housing statistics for 11 area counties in metropolitan Atlanta. The Market Brief, compiled by First Multiple Listing Service (FMLS), provides the only regionally-focused synopsis of monthly sales and home prices for single-family residential properties.

The July 2022 Market Brief, compiled by First Multiple Listing Service (FMLS), provides a regionally focused synopsis of monthly sales and home prices for residential properties in Metro Atlanta. This summary covers 11 counties: The Atlanta REALTORS® Market Brief is designed to offer an overview of the Atlanta residential market by providing a synopsis of sales and home prices, and covers 11 counties: Cherokee, Clayton, Cobb, DeKalb, Douglas, Forsyth, Fulton, Gwinnett, Fayette, Paulding, and Rockdale.

Demand: July residential sales were at 5,815, a decrease of 25.7% from the previous year.

Price: Average and median sales prices continue to outpace 2021’s figures, with positive gains. The median sales price in July was $420,000, an increase of 15.1% from last July. The average sales price was $498,500, up 13.9% from the previous year.

Supply: Atlanta area housing inventory totaled 12,112 units in July, an increase of 34.6% from July 2021. New listings totaled 8,695, down 6.3% from July 2021 and down 14.0% from the previous month. The month’s supply over a 12-month period increased to 1.9 months.

Hi Lorien, I work with 3 Hedge Funds and they as well as most of my investors are still purchasing. If the they are still purchasing, I would think they see the indicators as being positive for their bottom line. All of them are buying and flipping, so I'd think you would be safe.

The Monthly Housing Indicators for Georgia are in for July. Median Sales Prices were up 17 percent year-over-year, Days on the Market decreased 4 percent, and Months Supply of Inventory rose 40 percent.

• New Listings decreased five percent to 18,209
• Pending Sales decreased 19 percent to 11,956
• Closed Sales were down 21 percent to 12,660
• Inventory levels increased 28 percent to 27,624 units
• The Median Sales Price increased 17 percent to $349,900
• The Average Sales Price increased 12 percent to $406,807
• Days on Market decreased four percent to 22 days
• Months Supply of Inventory was up 40 percent to 2.1 months

Looking at the Housing Supply Overview – which takes a closer look at key metrics in relation to price range, property type and bedroom count – stark contrasts exist between single-family homes and townhomes/condos, and as well and lower-priced (199K or less) properties. Pending Sales were down for all properties with the exception of homes priced $300,000 and above:

• $124,999 or less – 12 percent decrease
• $125,000 – $199,999 – 41 percent decrease
• $200,000 – $299,999 – 26 percent decrease
• $300,000 and above – 20 percent increase

Additionally, Pending Sales for existing townhomes with three bedrooms posted the largest gain at 33 percent. Other Housing Supply Overview Indicators include:

• Days on Market decreased for all price ranges and property types.
• Median Sales Price increased for all property types regardless of bedroom count.
• Inventory was down for all home types with the exception of homes priced at $300,000 and above with two or more bedrooms. One-bedroom townhomes/condos saw the largest decrease at 36 percent.

The Monthly Housing Indicators for Georgia are in for June. 

Median Sales Prices were up 20% year-over-year. 

Days on the Market decreased 22%, and Months Supply of Inventory rose 29%. 

New Listings increased 8% to 20,898. 

Pending Sales decreased 17% to 12,935. 

Closed Sales were down 13% to 14,485. 

Inventory levels increased 24% to 24,673 units. 

The Median Sales Price increased 20% to $360,000. 

The Average Sales Price increased 17% to $425,032. 

Days on Market decreased 8% to 22 days. 

Months Supply of Inventory was up 29% to 1.8 months. 

Looking at the Housing Supply Overview – which takes a closer look at key metrics in relation to price range, property type and bedroom count – stark contrasts exist between single-family homes and townhomes/condos, and as well and lower-priced ($199K or less) properties. 

Pending Sales were down for all properties with the exception of homes priced $300,000 and above: $124,999 or less – 10% decrease $125,000 – $199,999 – 40% decrease $200,000 – $299,999 – 24 percent decrease $300,000 and above – 20% increase. 

Additionally, Pending Sales for existing townhomes with 3 bedrooms posted the largest gain at 96%. 

Other Housing Supply Overview Indicators include: Days on Market decreased for all price ranges and property types. Median Sales Price increased for all property types regardless of bedroom count.

Inventory was down for all home types with the exception of homes priced at $300,000 and above with 2 or more bedrooms. One-bedroom townhomes/condos saw the largest decrease at 40%.

The information is for another option as well, for those who have fantastic rates and equity in their home, it may be best to look into a home equity line of credit.

Although interest rates are predicted to rise in 2022, the mortgage market has already seen major fluctuations. So, if you're watching the rates with refinancing in mind -- either to lower your payments or tap into your home's equity -- here are some things to consider.

• A rate/term refinance can lower your loan's rate, change its term, or both. For example, if your income's increased over the past years, you can apply to refinance to a shorter loan term. This provides major savings by lowering your loan's total interest.
• In addition to shortening your loan's term, if you prefer to keep more of your take-home, you may be able to refinance to a longer term.
• Thinking of tapping into your home's equity with a cash-out refinance? Ask to compare your refinance costs with a home equity line of credit (HELOC). Both are smart options for financing anything from a major remodel to a new vehicle, as they can save you money with their lower interest rates.

*The economy gained 431K jobs in March, close to the 475K that had been expected. The Unemployment Rate fell from 3.8% to 3.6%, the lowest level since early 2020.

*Incomes are rising, which is always good for real estate. Average Hourly Earnings were an impressive 5.6% higher in March than a year ago.

*Starting July 1, credit bureaus will no longer report medical collections that have already been paid, which should eliminate up to 70% of medical debt on consumers' credit reports.

*High-net-worth Buyers now have an alternative that enables mortgage qualification based on financial assets only up to $2.5M in loan size.

*On the Asset Qualifier loan, no income or employment has to be disclosed on the mortgage application and a Debt Ratio is not even calculated. Excellent credit of 720 is required.

*After funds are used for closing, the Buyer must have $500K in financial assets as well as enough money to cover five years of monthly debt expenses.

The Monthly Housing Indicators for Georgia are in for February. Average Sales Prices were up 17 percent year-over-year, Days on the Market decreased 23 percent, and Months Supply of Inventory shrank to 1.3 months.

• New Listings decreased two percent to 13,678
• Pending Sales decreased seven percent to 12,525
• Closed Sales were down four percent to 10,761
• Inventory levels shrank 20 percent to 14,616 units
• The Median Sales Price increased 21 percent to $320,089
• The Average Sales Price increased 17 percent to $369,678
• Days on Market decreased 23 percent to 33 days
• Months Supply of Inventory was down 23 percent to one month

Looking at the Housing Supply Overview – which takes a closer look at key metrics in relation to price range, property type and bedroom count – stark contrasts exist between single-family homes and townhomes/condos, and as well and lower-priced (199K or less) properties.

Pending Sales were up for all properties priced $124,999 or less and $300,000 and above. Homes priced between $125,000 to $199,000 and $200,000 to $299,999 decreased:

• $124,999 or less – 0.2 percent increase
• $125,000 – $199,999 –33 percent decrease
• $200,000 – $299,999 – 11 percent decrease
• $300,000 and above – 31 percent increase

Additionally, Pending Sales for residences with one bedroom or fewer posted the largest gain at 20 percent.

Other Housing Supply Overview Indicators include:

• Days on Market decreased for all price ranges and property types.
• Median Sales Price increased for all property types regardless of bedroom count.
• Inventory was down across all housing types, regardless of price. One-bedroom townhomes/condos saw the largest decrease at 62 percent.

Hi Ronen and Dmitriy,  Thank  you for responding and I will be sure to let you know of a few upcoming properties that we have in our portfolio, as they get ready to sell.