Welcome to 2018!
We thought we'd take a quick look back at 2017 and check out some of the stats for Real Estate in the Atlanta Metro area. As Realtors, we routinely use the FMLS and GAMLS systems when working with our clients and wanted to share some interesting insights you might enjoy.
MLS stands for Multiple Listing Service - a private online database that Realtors use to get the most updated information on listings. Other free and public online websites like Zillow/Trulia/Realtor take this information and aggregate it on a national scale, however they are not always as up-to-date and don't include the private remarks that only Realtors can see. If you'd like to search the FMLS system, you can do it on our website here:
Search ALL Metro Atlanta Real Estate.
Let's get started, shall we? All the info below was taken from FMLS which covers all of Georgia but mostly Metro Atlanta. These stats are for residential properties only (detached and attached) and does not include commercial, land or developed lots, and also excludes private transactions that didn't make it onto the service.
How many new listings were there?
In 2017 there were a total of 120,110 new listings, only about 3,000 more than the previous year. This was the second highest number of new listings in the past decade, just shy of the 122,002 listings of 2010, at the peak of the great recession. The strongest month was March with 12,569, followed closely by June and May.
What was the total sales volume?
The total sales volume for the year was just over $24,045,903,643. That is much higher that the low point of the past decade, which again goes to 2010 at close to $9.5B.
Here's the chart:
How many properties actually sold?
The total number of sales in 2017 was also the highest for the past decade, coming in at 85,646 properties sold, just about 1000 more than the previous year. Looking back at 2010 we see the low point of the decade at nearly half the number of sales with 49,788.
What's going on in the luxury market above $1M?
We wanted to highlight the Atlanta luxury market and take a look at new listings and sales above the $1M mark. We keep track of the luxury market in our "Dekel Report" which comes out on Monday of each week and showcases new listings and properties under contract. You can also check out the archives.
In the past year 3,385 new listings hit the market and 1,116 sales closed at a sale price over $1M. These sales totaled nearly $1.7B bringing the average sale price to just over $1.52M. The month of March peaked at 434 new listings, while May had the most closed sales at 140 for over $204M.
Here's the chart:
What was the highest sale last year?
The most expensive property sold was actually right on the beach in Sea Island and sold for $9.1M in cash (asking price was $10M and it sold in only 69 days). You can check it out here.
The top sale in Atlanta was in Tuxedo Park and sold for $7.15M in cash. This 12,864 square feet estate had been on the market on and off since it was built in 2009 and was at one time listed for $12.5M. You can check it out here.
There's lots more where that came from!
We know some of you would love to find out more details about what's going on in the real estate market, so we've created a way for you to create your own custom market reports. You can set up reports by zip code (here's the 30339 Market Report), by city (here's the Smyrna Market Report) or even by subdivision (here's the Vinings Estates Market Report).
If you'd like more detailed information or need any help buying or selling real estate, please Contact Us. We wish you all a wonderful year in 2018!