Here are some metro Atlanta real estate inventory numbers as of today. It covers Buckhead Real Estate, Dunwoody Real Estate and Sandy Springs Real Estate.
It’s a 12 month moving average. If you look at the past rates, I think you’ll find that some areas have improving absorbtion rates and others are getting worse. I wouldn’t put too much analysis into the categories with less than 50 homes, as one or two sales can have a big effect on the absorbtion rate. It’s just another tool when it comes to evaluating the Atlanta market.
At the very least, if you’re selling a home in North Atlanta, you can see how much competition and sales there are in your general category. If you would like me to develop a more specific category, please feel free to contact me.
While in some categories the overall inventory numbers are down, the absorbtion rates have not trended down accordingly. I wonder if this is due to the sales numbers decreasing as well? The forclosure rate still seems to be wrecking havoc on market data.
I also noticed the $1,000,000 and over Buckhead townhome and condo category has a ridiculous absorbtion rate – 12 years for the average property. There is no doubt that this is a particularly difficult market segment to sell a property, but 12 years is a bit extreme. I think this is because many new, still unfinished buildings, are listing all of the anticipated units for pre-sales. Do you consider an unbuilt property, but still available for pre-sale, part of the market inventory; a debatable point I suppose.
Buckhead Homes
$500,000 – $1,000,000 – 1 year and 10 months of inventory
366 currently active, 201 sold in last 12 months
$1,000,000 – $3,000,000 – 2 years and 10 months of inventory
341 currently active, 119 sold in last 12 months
$3,000,000 and above – 8 years and 3 months of inventory
91 currently active, 11 sold in last 12 months
Buckhead Condos and Townhomes
Under $500,000 – 1 year and 5 months of inventory
778 currently active, 553 sold in last 12 months
$500,000 – $1,000,000 – 3 years and 11 months of inventory
171 currently active, 44 sold in last 12 months
$1,000,000 and above – 12 years of inventory
84 currently active, 7 sold in last 12 months
Sandy Springs Homes
$500,000 – $1,000,000 – 2 years and 2 months of inventory
97 currently active, 45 sold in last 12 months
$1,000,000 – $3,000,000 – 3 years of inventory
24 currently active, 8 sold in last 12 months
$3,000,000 and above – years of inventory is not calculable
6 currently active, 0 sold in last 12 months
Dunwoody Homes
$500,000 – $1,000,000 – 1 year and 3 months of inventory
60 currently active, 48 sold in last 12 months
$1,000,000 and above – 1 years and 6 months of inventory
9 currently active, 6 sold in last 12 months
You can look at the July 31st inventory for a comparison. Keep in mind, my inventory numbers are basically a 12 month moving average, so they move slowly; you’ll have to look at the trend. I don’t like using monthly absorbtion rates, due to some extreme variations.
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