METRO ATLANTA MARKET UPDATE THROUGH SEPTEMBER 2019: The entry-level market has strong demand and very low inventory. There are many multiple offers and values rose faster than other segments. Over 80% of all closed transactions are in the $100K-$500K price range. The mid-market ($500,000 to $1 mil) has slowed since the spring and summer market. Months of supply indicate normal market conditions with properties averaging 6 months to sell.
The luxury market ($1 mil ) continues to be a buyer’s market with properties averaging 18 months to sell. The month of September results show a drop of 16.7% compared to August closings and a 1.6% increase in closings relative to last September.
Pending contracts were down 8.7% from last month and up 15.7% compared to September 2018.
Current Inventory is up 1.5% from last month and up 7.2 % over last year. Mortgage rates are forecasted to stay low through the fourth quarter which is great news for everyone. Metro Atlanta continues to be very affordable relative to other metropolitan areas around the country.
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