Trying to figure out a pattern in Atlanta real estate based on a couple of months is like trying figuring how well you will run a marathon after just one 20-miler. You need 3 20-milers three 3 years of year-to-date comparisons to find a trend in Atlanta real estate. (FN 1) For example, during marathon training, you can have a magical run and two weeks later wonder if you ever knew how to run. In Atlanta real estate, we can see some exceptional numbers followed by a return to normal that falsely appear negative. The 3-year Atlanta real estate is best summarized – “Now Hiring Construction Workers” – at Cobb County tag office. Atlanta real estate is doing just fine. (Friends disagree about the need for three “20s”. If you are healthy and in shape, the odds remain in your favor to be healthy.)
A summary of the graphs, without actually crunching the number shows a positive trajectory of sales volume, price, and number of days a home remains on the market, specifically for Buckhead Atlanta and Vinings. Anomalies, Undoubtedly, caused some months to indicate a potential negative trend. It is a positive mirage. For example, in 2019 when you look at the average sales price, April appeared to show a drop. In actuality, March had unusually large sales price. The trend remains positive.
Buckhead Atlanta’s trends for units sold and days on market over the past three years to date (2017, 2018, 2019) remained consistent, while Vinings struggles to show a reliable pattern – 🙂 except for a dramatic increase in home values.
Buckhead Atlanta had some major spikes in 2018 with its average sale price while 2019 saw a return to
Even when you account for the large discrepancy in size between the neighborhoods, Vinings appears to remain an enigma until you understand one positive fact – people hardly leave here. Going back to the Great Recession of 2008, it was one of the last neighborhoods to have a foreclosure. Then in 2009 and 2010, homes barely moved while they did in Buckhead Atlanta. As the adage goes, when you move to Vinings, you don’t leave. (Question now for the healthy market is how many of the house owners have “temporarily” relocated for work.) 2018, compared to 2017 and 2019 year-to-date, proved to be the anomaly for Vinings market as you had three (3) months of double-digit sales – April, May, and July. 2017. My hunch is that people found Vinings – again – and want to stay for a while.