May 17, 2020
Back on April 27, 2020 I predicted and posted that the Atlanta housing market would come back strong. Well, it definitely has, and the number of new listings as recorded by the First Multiple Listing Service support this fact.
Jubilant Feeling of Georgia Re-Opening Confirmed – First Weekend of May
New listings for both houses and attached homes (condominiums and townhomes) saw their biggest increase the weekend that Georgia Governor re-opened the state. Houses saw a 32.7% increase in new listings while attached homes experienced an 81.5% increase.
Condominium Listings Leading The Way – 218% Increase
As you can imagine with all the precautions and concerns about contracting Covid-19, attached home listings were dramatically lower than house ones from the end of March of until the May 1st re-opening. During this gloomy period, there were 193 new listings, and now since approximately May 1st, 420 new ones. Count as that as a 218% increase homes coming on the market. Admittedly, these numbers still languish compared to house ones, as 506 houses were added to the market at this time.
Line of Delineation -Weeks of April 19th – 25th & April 26th-May 2nd
The number of houses coming to the market stayed in the weekly range of 102-109 prior to April 26th. Since then, the lowest number has been 154 last week and jumped to 194 for this one, a 25% increase. For condominiums and town homes until the 26th, numbers fluctuated in the range of 56 to 79. Now, as of the line of delineation, the lowest number was the weekend Georgia re-opened, 118 units. Since then, the listings have increased to 143 and now 159 for this past week.
House Market Retaining Strength –
Its second highest growth in the number of listings took place this past weekend at 25.9%, after a slight dip 3.4%. That hiccup followed a 32.7% increase during the weekend of the re-opening.
Buckhead Atlanta and Midtown Atlanta Markets –
They have followed the same patterns as the overall Atlanta ones.