I’m asked frequently whether we’re in a buyer’s market, or are a seller’s market. The answer is far more nuanced than a single PowerPoint chart, but the one below is pretty, pretty, pretty interesting…
While it’s a pretty broad set of data (based on eight metro Atlanta counties), I think it reveals some clear trends. The Atlanta market’s supply/demand environment has shifted dramatically from Q3 2011 to Q3 2012, as presented in this “months of housing supply” chart.
If no new homes are put on the market it will take 2.2 months at the current pace of sales to sell off the entire inventory of homes priced <$100,000.
Conversely, it will take 25.5 months to sell all of the homes priced $1,000,000 (zeros added for dramatic presentation).
Strong Buyer’s Market.
What does this mean for you? Depends on where you are, and what you’re looking to buy or sell.
Always happy to chat further, and genuinely giddy to pour over more real estate data than you can possibly imagine. When you’re ready to seriously think about buying or selling a home, you know where to find me.
Source: ChartMaster Services exclusively for Keller Williams Realty. Data based on Q3 2011 and 2012 sales.