Today’s real estate market is one of the fastest-moving in recent memory. With record-low inventory in many market segments, we’re seeing multiple offers—and sometimes even bidding
Market Update For Metro Atlanta December 2020 Compared to December 2019
Dated: January 6 2021
Taking a look back for the full month of December and comparing 2019 to 2020 for all of Metro Atlanta
I wanted to just jump in here and give you a quick market update, and what I wanted to talk about today is all of Metro Atlanta. So these are all of the counties that comprise the whole, what we call the first FMLS or the first MLS system that we use here in Metro Atlanta, so I wanted to kind of recap this year, how it ended December, 2020 and compare it to 2019 the month of December and just recap the numbers and then next week I will do the city of Roswell, so we can kind of look at how those numbers shook out for the end of the year. And I always like to look at December because we're just now at the beginning of the year in January, so we don't have those numbers yet, so let's just take a look.
So in all of Metro Atlanta, in December of 2019, the average sales price was $317,570. This year, we ended the year in 2020 with the increase at 363,343, so a nice increase there.
The month supply, we were at 2.7 months supply meaning if nothing else came on the market it would have taken us 2.7 months to go through all of the inventory that was on the market when we ended the year in 2019, and this year we ended in 2020 with 1.4 months inventory. Again, this is all of Metro Atlanta and their counties that comprise that.
The days on market, that's how many days it takes before that seller is able to generate and get a binding contract, so that's what we look at for the days on market. So in 2019, it took all of Metro Atlanta 31 days, 2020 in December it was taking us only 11 days to generate that offer.
The list to sales price ratio, I always like to look at the original list price not just what it was listed at when it went under contract because oftentimes we have some price reductions, so if we look at the original list price to the actual sale price, back in 2019 in December, we were at 97.5%. This in 2020 of December, we were at 100%, so people were getting more and closer to exactly what they were listing the house for, could be a combination of a couple of things, agents getting smarter about pricing or just the market is bearing a little more.
Price per square feet, we've had a nice increase there for Metro Atlanta. So we were at $135 a square foot and this is the average in all of Metro Atlanta, and now we are up to $152 per square foot average of all the Metro counties here in Atlanta.
The number of closed sales for the month of December in 2019 was 7,769 and in 2020 for December, we ended with 6,985. So really great numbers for Metro Atlanta, you can see that the values are definitely increasing and it looks like the pricing is either getting spot on or just that the buyers are paying more closer to the list price. We are seeing a lot and I mean a lot of multiple offers in every price range. So if you think that it's just in the lower end, you are incorrect, we are seeing this in the 600,000, in the 400,000, in the million dollar range, we're seeing a lot of multiple offers and that's just based on the lack of inventory.
So if you've had any thoughts about selling or you're curious about what your home's value might be, please reach out to me, let me know, I would love to help.
Next week we'll look at Roswell, Georgia.
Thanks again for joining.
If you'd like to schedule a time to jump on the phone, have a zoom call or even meet for coffee, click here www.letstalkwithtania.com and set a time!
I'd love to find out how I can help you with any of your real estate questions or needs.
Tania Works Hard + Lives + Loves The Roswell, GA Community Roswell is an amazing area and we’re proud to call it home. Because we love living and working here in Georgia so much, it makes it easy t....
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