Post on 18-Jul-2015
Single Family Detached Residences
Provided By ChartMaster Services, LLC exclusively for Keller Williams Realty
Market Statistics
Single Family Detached Residences
Provided By ChartMaster Services, LLC exclusively for Keller Williams Realty
FITP
FULTONOTP
DEKALB
PAULDING
DOUGLASDEKALB
GWINNETTWEST
EAST
COBB
FULTON
OTP
FORSYTHCHEROKEE
DEKALB
COBB
Metro Area Counties Included
The source of information used in these
charts is FMLS data from these
8 Metro Counties
2
3
Single Family Detached Residences
Provided By ChartMaster Services, LLC exclusively for Keller Williams Realty
4Q 2013 Metro Market Report
Monthly Sales trending higher
An sustained upward trend began in 2011, after the slowdown following expiration of government purchase incentives, extending through 4Q 2013
Buyer ConsiderationsIncreasing sales have reduced the inventory of unsold houses causing the market to become more competitive for buyers, reducing the number of available alternative properties and reducing buyers’ psychological advantage in contract negotiations
3
Single Family Detached Residences
Provided By ChartMaster Services, LLC exclusively for Keller Williams Realty
4Q 2013 Metro Market Report
The total number of Active listings declined compared to previous years, while the number of sales has increased slightly
Since Jan, 2009 total Active listings have dropped by -62.8% in December, 2013 while sales have increased by +58.1%
This year has seen the first increase in listings in the last 3 years (+10.0% in Dec.)
Buyer ConsiderationsWhen fewer Active listings are available from which buyers can choose, competition for those fewer listings increases, reducing negotiating leverage for buyers
When sales stay relatively constant while the inventory of active listings declines, competition for the declining inventory increases changing the psychology of the market from a “Buyer’s market” to “Seller’s market”
4
4Q 2013 Area Comparison Report
Single Family Detached ResidencesProvided By ChartMaster Services, LLC exclusively for Keller Williams Realty
111
66
113112
223
221
222
62
63
14
121
51
114
64
61
65
41
42
75
74
73
72
91
191
81
82
83 131
71
132
52
21
24
23
22
31 32 53
Months of Supply
December, 2013:
<3.0 Months
3.0 - 3.4
3.5 - 3.9
4.0 - 4.9
5.0 - 5.9
6.0+
Metro Area Total:
3.7 months
Areas With 30%+
Distressed Sales:
13
County
GroupingsCherokee County:
111 113
112 114
E. Cobb:
81 82 83
W. Cobb:
71 73 75
72 74
DeKalb:
24 42 52
41 51 53
121
Douglas:
91
Forsyth:
221 222 223
224
Fulton OTP:
13 14 33 131
Fulton ITP:
31 21 132
32 22 23
Gwinnett:
61 62 63
64 65 66
Paulding:
191
224
33
FMLS data for single family
detached residences. Data is
believed to be accurate, but is not
warranted. ©2013 Chartmaster
Services, LLC. All rights reserved.
This page may not be reproduced
without the written permission of
chartmasterchuck@aol.com.
6
Single Family Detached Residences
Provided By ChartMaster Services, LLC exclusively for Keller Williams Realty
4Q 2013 Metro Market Report
Short Sales and Foreclosure Sales add together to make up Distressed Sales, shown here as a percent of total sales
The percentage of 4Q 2013 distressed sale transactions was -18.9 percentage points lower than in 4Q 2012, while slightly higher +.8 points from last quarter
6
Single Family Detached Residences
Provided By ChartMaster Services, LLC exclusively for Keller Williams Realty
4Q 2013 Metro Market Report
7
Distressed/Non-Distressed Supply (listings) vs. Demand (sales)
Supply of non-distressed properties in price ranges above $500K is in the “Balanced” or “Buyer’s Market” range above 6 months of supply
Supply in all price ranges except one is in the “Seller’s Market” condition below 6 months of supply for Distressed properties
Buyer ConsiderationsDistressed properties have been in demand in all price ranges, increasing buyer competition for these houses, requiring faster action and better offers by buyers
Although now lower than previously, higher inventory for non-distressed properties compared to distressed properties leads to more competition between sellers in order to stand out from their competition, possibly resulting in more high-value property listings
4Q 2013 Area Comparison Report4Q ONLY
Single Family Detached ResidencesProvided By ChartMaster Services, LLC exclusively for Keller Williams Realty
111
66
11
311
2
22
3
22
1
22
2
62
6314
12
1
51
11
4
64
61
65
41
42
75
74
73
72
91
19
1
81
82
8313
1
71
13
2
52
21
24
2322
31
3253
13
County
GroupingsCherokee County:
111 113
112 114
E. Cobb:
81 82 83
W. Cobb:
71 73 75
72 74
DeKalb:
24 42 52
41 51 53
121
Douglas:
91
Forsyth:
221 222 223
224
Fulton OTP:
13 14 33
131
Fulton ITP:
31 21 132
32 22 23
Gwinnett:
61 62 63
64 65 66
Paulding:
191
22
4
33
FMLS data for single family
detached residences. Data is
believed to be accurate, but is not
warranted. ©2013 Chartmaster
Services, LLC. All rights reserved.
This page may not be reproduced
without the written permission of
chartmasterchuck@aol.com.
Single Family Detached Residences
Provided By ChartMaster Services, LLC exclusively for Keller Williams Realty
4Q 2013 Metro Market ReportPrevious Listing Periods Included
4Q 2013 Only
9
List Price Reductions decreased
Low overall supply has reduced the necessity for price reductions to 40.9% of sales during 4Q 2013
The reduction was also spread throughout these price ranges
Buyer ConsiderationPrice-reduced properties can present an opportunity for lower-priced offer acceptance
That opportunity was greatest in properties priced below $100K where supply has reached the lowest level
Price reductions are usually more common in higher price ranges, but fell considerably during this period in all price ranges compared to last year
Fewer price reductions occurred due to reduced inventory and increased competition among buyers for a smaller number of available properties, making sellers’ acceptance of low-price offers less common
Single Family Detached Residences
Provided By ChartMaster Services, LLC exclusively for Keller Williams Realty
4Q 2013 Metro Market ReportPrevious Listing Periods Included
4Q 2013 Only
10
S/L ratios drop for Price-Reduced properties
After a listing price reduction, sellers in all price ranges received a much lower percentage of their original asking price than sellers not required to take a price reduction, dropping by -9.2 percentage points overall
Buyer ConsiderationPrice-reduced properties can be a signal of an opportunity for lower-priced offer acceptance
During 4Q 2013 the median S/L ratio for price-reduced properties was -9.2 percentage points lower and ranged from a decrease of -6.6% to -24.3% of the original listing price compared to a seller not required to reduce their listing price, depending upon price range
Single Family Detached Residences
Provided By ChartMaster Services, LLC exclusively for Keller Williams Realty
4Q 2013 Metro Market ReportPrevious Listing Periods Included
4Q 2013 Only
Total Closed Listings (100%)
95.2 S/L*
51 DOM*
Price Reduced
(40.9% of Total)
89.2% S/L*
117 DOM*
Previously Listed (15.8% of Total)
85.9% S/L*
258 DOM*
Not Previously Listed
(25.1% of Total)
90.6% S/L*
74 DOM*
No Price Reduction
(59.1% of Total)
98.4% S/L*
21 DOM*
Previously Listed
(4.7% of Total)
97.5% S/L*
173 DOM*
Not Previously Listed
(54.4%Of Total)
98.5% S/L*
19 DOM*
What is the REAL STORY?Many times listed properties will have expired
or been withdrawn one or more times prior to
the listing period in which they sold. Including
the original listing prices and cumulative days
on market from those previous listing
periods, results in a more realistic set of
measurements.
The Real Story
11
* Medians: Half are above
and half are below
Right Price/Right AgentRight Price/Wrong
Agent
Right Agent/Wrong
Price
Wrong Price/Wrong
Agent
FMLS data for single family detached residences. Data is believed to be accurate, but is not warranted. ©2013 Chartmaster
Services, LLC. All rights reserved. This page may not be reproduced without the written permission of chartmasterchuck@aol.com.
12
Single Family Detached Residences
Provided By ChartMaster Services, LLC exclusively for Keller Williams Realty
4Q 2013 Metro Market ReportPrevious Listing Period Data Included
12
Correctly pricing with the current market can result in multiple offers and sales prices at or above the Original Listing Price
In 4Q 2013, more than 1 out of every 4 (24.6%) sales transactions resulted in selling prices that were equal to or higher than the original listing price
2,280 properties sold at 100%, or more, of their Original Listing price during 4Q 2013