Archive for the 'Absorption Rate' Category

2008 Nov 7th

Homes for Sale in Atlanta Dunwoody

Categories: Absorption Rate, Atlanta Real Estate News, Buying, Buying Your Home, Market Conditions, Recent Home Sales, Selling Your Home

Market Conditions 

Currently, as of November 7th, 2008, there are 161 homes for sale in Dunwoody, GA.  They are priced between $1,275,000 and $225,000. Clearly there are many choices for buyers. Considering that 27 homes were sold last month, October 2008, in Dunwoody, it will take between 6 to 9 months for the current inventory to be depleted. However, with new listings coming to the market, representing even more competition among homes for sale, it is likely that it will take 12 to 15 months for today’s  current inventory to be absorbed.

What does this mean to Sellers?                                          

To help secure that you will be one of the homes that receives an offer, make sure your house is in top showing condition.  In order to receive an offer, your house must be the best home that a buyer will see. Beyond keeping your home super clean, prepare your home so that is a memorable experience for your potential buyers…and I mean memorable as in terms that it will stand out to a buyer in a good way…

  • One simple and cost effective way is to the bring the outdoors in…take advantage of the beautiful fall colors - place some small tree branch trimmings in a  vase - adding this color will create a warm and inviting center piece for the table…and don’t forget to hang a wreath on the front door - this says ’welcome’ to your guests!

What does this mean to Buyers?

Likely that you’ll see more than one home on a showing tour and chances are that you may have a harder time than you expected in remembering what each home was like.  Here’s one way to help: when out seeing homes, keep a clip board with the MLS print outs, and after you’ve walked through, take a quick moment to write some notes to help jog your memory for the end of the day recap. 

  • And even though it is a wonderful to time to buy a home during a Buyers Market, have realistic expectations. Yes, you may be able to have your cake and it, too, but be careful about asking for the ice cream on the side. You don’t want the other party to dig their feet into the sand. Remember, for a negotiation to be successful, both parties must feel as though they’ve won.

Share This

Spoken by Liz Bankston | Discussion: No Comments »

2008 Oct 27th

Atlanta Real Estate Market Absorption 12 - 16 months

Categories: Absorption Rate, Atlanta Real Estate News, Buying, Market Conditions, Selling Your Home

 

The Atlanta Real Estate Market has historically been a SELLERS’ Market. It could be said it’s been a strong SELLERS Market for about the last 10 years, that is up until the shift. It’s been a shock to many Atlantan home owners who are selling in a BUYERS’ Market. How did this happen? The answer, in two words or less…market absorption.

Market absorption measures the number of properties currently on the market and the average market demand…how long will it take to deplete the inventory of those properties. The absorption rate is a simple equation that holds volumes of information for both Sellers and Buyers.

To learn the Absorption Rate… 

  1. Determine the rate at which properties are selling: Properties Sold in Previous Year / 12 months = Monthly Absorption Rate

  2. Take a snapshot of current inventory based on that rate: Properties Currently For   Sale / Monthly Absorption Rate = Months a Typical Property Will Take to Sell

How is the Real Estate Market defined?

  • SELLERS Market ‹ 5 months of inventory

  • Transitional Market ≤ 7 months of inventory

  • BUYERS Market › 7 months of inventory

Currently, metro Atlanta has between 12 and 16 months of inventory. We have more supply than demand and that makes us officially in a Buyers Market.

Share This

Spoken by Liz Bankston | Discussion: No Comments »