Monthly Indicators A RESEARCH TOOL PROVIDED BY THE GEORGIA ASSOCIATION OF REALTORS® July 2012 Change in Closed Sales Change in Median Sales Price Change in Inventory During the month of the 30th Olympiad, housing medaled in several arenas. A few short years ago, housing was considered a headwind to economic recovery. Today, housing is seen as a tailwind to a stalling economy. For the first time since 2005, housing is on track for contributing positively to national GDP in 2012. That can occur either by way of direct residential investment or through remodeling and other ancillary services. Watch for signs of sustained Quick Facts + 6.2% + 2.3% - 30.9% 2 Market Overview 3 New Listings 4 Pending Sales 5 Closed Sales 6 Days On Market Until Sale 7 Median Sales Price 8 Average Sales Price 9 10 Housing Affordability Index 11 Inventory of Homes for Sale 12 Months Supply of Inventory Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Powered by 10K Research and Marketing. | 1 Click on desired metric to jump to that page. tailwinds in a variety of indicators, including market times, seller concessions, prices and absorption rates. New Listings in the state of Georgia decreased 9.3 percent to 10,880. Pending Sales were up 28.4 percent to 9,145. Inventory levels shrank 30.9 percent to 46,956 units. Prices moved higher. The Median Sales Price increased 2.3 percent to $116,500. Days on Market was down 16.4 percent to 82 days. The supply- demand balance stabilized as Months Supply of Inventory was down 40.9 percent to 6.4 months. Sustained recovery will not occur without real employment and wage growth. Consumers must be confident in both the economy and their family finances before signing on the dotted line. Cheap borrowing costs have served as the glue binding things together. Unimaginable a few years ago, the rate on a 30- year fixed mortgage recently ducked below the 3.49 percent marker. Job creation and GDP numbers will garner particular attention this quarter. Percent of Original List Price Received
Georgia Association of Realtors July 2012 Atlanta & Georgia Market Statistics
Jul 30, 2015
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Monthly Indicators A RESEARCH TOOL PROVIDED BY THE GEORGIA ASSOCIATION OF REALTORS®
July 2012
Change inClosed Sales
Change inMedian Sales Price
Change inInventory
During the month of the 30th Olympiad, housing medaled in several arenas. A few short years ago, housing was considered a headwind to economic recovery. Today, housing is seen as a tailwind to a stalling economy. For the first time since 2005, housing is on track for contributing positively to national GDP in 2012. That can occur either by way of direct residential investment or through remodeling and other ancillary services. Watch for signs of sustained
Quick Facts
+ 6.2% + 2.3% - 30.9%
2 Market Overview
3 New Listings4 Pending Sales5 Closed Sales6 Days On Market Until Sale7 Median Sales Price8 Average Sales Price9
10 Housing Affordability Index11 Inventory of Homes for Sale12 Months Supply of Inventory
Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Powered by 10K Research and Marketing. | 1
Click on desired metric to jump to that page.
tailwinds in a variety of indicators, including market times, seller concessions, prices and absorption rates.
New Listings in the state of Georgia decreased 9.3 percent to 10,880. Pending Sales were up 28.4 percent to 9,145. Inventory levels shrank 30.9 percent to 46,956 units.
Prices moved higher. The Median Sales Price increased 2.3 percent to $116,500. Days on Market was down 16.4 percent to 82 days. The supply-demand balance stabilized as Months Supply of Inventory was down 40.9 percent to 6.4 months.
Sustained recovery will not occur without real employment and wage growth. Consumers must be confident in both the economy and their family finances before signing on the dotted line. Cheap borrowing costs have served as the glue binding things together. Unimaginable a few years ago, the rate on a 30-year fixed mortgage recently ducked below the 3.49 percent marker. Job creation and GDP numbers will garner particular attention this quarter.
Percent of Original List Price Received
Market Overview Key market metrics for the current month and year-to-date.
Key Metrics Historical Sparklines 7-2011 7-2012 + / – YTD 2011 YTD 2012 + / –
50,804 + 10.9%
98 82Days on Market Until Sale
7,337 7,791 + 6.2% 45,830
New Listings
Pending Sales
Closed Sales
- 13.0%
7,121 9,145 + 28.4% 49,731 57,294 + 15.2%
85,03311,991 10,880 - 9.3% 97,782
- 16.4% 96 88 - 8.4%
7-2009 7-2010 7-2011 7-2012
7-2009 7-2010 7-2011 7-2012
7-2009 7-2010 7-2011 7-2012
7-2009 7-2010 7-2011 7-2012
Housing Affordability Index 215
67,975
235 + 5.2%
--
$150,096 $145,974 - 2.7%
$113,900 $116,500
$159,838
Median Sales Price
Average Sales Price
Percent of OriginalList Price Received
+ 2.3%
$157,785 + 1.3%
89.2% 93.1%
$108,000 $103,500
+ 3.2%
- 4.2%
+ 4.3% 88.6% 91.4%
Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Provided by the Georgia Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 2
223
--
-- --
--
--Months Supplyof Homes for Sale
216
- 30.9%
- 40.9%
46,956
6.410.8
Inventory of Homes for Sale
+ 0.5%
7-2009 7-2010 7-2011 7-2012
7-2009 7-2010 7-2011 7-2012
7-2009 7-2010 7-2011 7-2012
7-2009 7-2010 7-2011 7-2012
7-2009 7-2010 7-2011 7-2012
7-2009 7-2010 7-2011 7-2012
New Listings A count of the properties that have been newly listed on the market in a given month.
Month Prior YearCurrent
Year+ / –
August 14,574 12,895 -11.5%
September 13,102 11,514 -12.1%
October 12,846 11,332 -11.8%
November 11,325 9,771 -13.7%
December 11,391 8,711 -23.5%
January 14,215 12,036 -15.3%
February 13,439 11,779 -12.4%
March 16,203 13,468 -16.9%
April 14,202 13,071 -8.0%
May 13,830 12,086 -12.6%
June 13,902 11,713 -15.7%
July 11,991 10,880 -9.3%
15,064
11,99110,880
July
109,151
97,782
85,033
Year To Date
-13.0%-20.4% -9.3% -10.4%
12-Month Avg 13,418 11,605 -13.5%
Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Provided by the Georgia Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 3
2010 2011 2012
5,000
7,500
10,000
12,500
15,000
17,500
20,000
22,500
25,000
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012
Historical New Listing Activity
2010 2011 2012
Pending Sales A count of the properties on which contracts have been accepted in a given month.
Month Prior YearCurrent
Year+ / –
August 6,212 7,926 +27.6%
September 5,759 6,864 +19.2%
October 5,351 6,550 +22.4%
November 4,918 6,041 +22.8%
December 4,763 5,778 +21.3%
January 5,405 6,776 +25.4%
February 6,387 7,508 +17.6%
March 7,924 8,328 +5.1%
April 7,273 8,143 +12.0%
May 7,631 8,651 +13.4%
June 7,990 8,743 +9.4%
July 7,121 9,145 +28.4%
6,098
7,121
9,145
July
46,64249,731
57,294
Year To Date
+15.2%+16.8% +28.4% +6.6%
12-Month Avg 6,395 7,538 +18.7%
Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Provided by the Georgia Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 4
2010 2011 2012
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
11,000
12,000
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012
Historical Pending Sales Activity
2010 2011 2012
Closed Sales A count of the actual sales that have closed in a given month.
Month Prior YearCurrent
Year+ / –
August 6,190 7,879 +27.3%
September 5,935 7,392 +24.5%
October 5,582 6,744 +20.8%
November 5,136 6,060 +18.0%
December 5,851 6,791 +16.1%
January 4,073 5,490 +34.8%
February 4,895 6,190 +26.5%
March 6,957 7,681 +10.4%
April 6,755 7,256 +7.4%
May 7,454 7,995 +7.3%
June 8,359 8,401 +0.5%
July 7,337 7,791 +6.2%
6,157
7,3377,791
July
45,116 45,830
50,804
Year To Date
+10.9%+19.2% +6.2% +1.6%
12-Month Avg 6,210 7,139 +16.6%
Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Provided by the Georgia Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 5
2010 2011 2012
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
11,000
12,000
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012
Historical Closed Sales Activity
2010 2011 2012
Days on Market Until Sale Average number of days between when a property is listed and when an offer is accepted in a given month.
Month Prior YearCurrent
Year+ / –
August 87 96 +10.1%
September 91 99 +8.7%
October 90 98 +9.1%
November 91 96 +5.8%
December 96 97 +1.0%
January 97 94 -2.7%
February 101 96 -5.0%
March 95 92 -3.2%
April 94 89 -5.7%
May 92 85 -7.9%
June 96 81 -15.4%
July 98 82 -16.4%
88
98
82
July
9196
88
Year To Date
-8.4%+11.2% -16.4% +5.2%
12-Month Avg 94 92 -2.5%
Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Provided by the Georgia Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 6
2010 2011 2012
75
80
85
90
95
100
105
110
115
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012
Historical Days on Market Until Sale
2010 2011 2012
Median Sales Price Median price point for all closed sales, not accounting for seller concessions, in a given month.
Month Prior YearCurrent
Year+ / –
August $115,000 $105,050 -8.7%
September $115,000 $95,000 -17.4%
October $112,000 $93,154 -16.8%
November $113,900 $95,300 -16.3%
December $117,000 $96,500 -17.5%
January $107,288 $87,000 -18.9%
February $102,500 $87,000 -15.1%
March $106,000 $99,000 -6.6%
April $105,168 $105,000 -0.2%
May $107,850 $109,512 +1.5%
June $110,000 $114,500 +4.1%
July $113,900 $116,500 +2.3%
$124,000$113,900 $116,500
July
$120,568
$108,000 $103,500
Year To Date
-4.2%-8.1% +2.3% -10.4%
12-Month Med $110,000 $100,000 -9.1%
Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Provided by the Georgia Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 7
2010 2011 2012
$80,000
$90,000
$100,000
$110,000
$120,000
$130,000
$140,000
$150,000
$160,000
$170,000
$180,000
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012
Historical Median Sales Price
2010 2011 2012
Average Sales Price Average sales price for all closed sales, not accounting for seller concessions, in a given month.
Month Prior YearCurrent
Year+ / –
August $153,958 $145,390 -5.6%
September $151,645 $135,940 -10.4%
October $149,867 $133,939 -10.6%
November $149,500 $136,287 -8.8%
December $157,547 $137,293 -12.9%
January $145,746 $126,337 -13.3%
February $141,755 $127,481 -10.1%
March $144,086 $139,094 -3.5%
April $146,360 $147,031 +0.5%
May $151,724 $152,378 +0.4%
June $156,925 $158,779 +1.2%
July $157,785 $159,838 +1.3%
$164,230$157,785 $159,838
July
$156,430$150,096 $145,974
Year To Date
- 2.7%- 3.9% + 1.3% - 4.0%
12-Month Avg $151,067 $142,740 -5.5%
Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Provided by the Georgia Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 8
2010 2011 2012
$120,000
$140,000
$160,000
$180,000
$200,000
$220,000
$240,000
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012
Historical Average Sales Price
2010 2011 2012
Percent of Original List Price Received
Month Prior YearCurrent
Year+ / –
August 89.6% 88.7% -0.9%
September 88.4% 88.8% +0.5%
October 88.3% 88.7% +0.5%
November 88.0% 89.2% +1.4%
December 87.7% 89.1% +1.6%
January 87.4% 89.2% +2.1%
February 87.4% 89.1% +1.9%
March 87.9% 90.3% +2.7%
April 88.7% 91.5% +3.2%
May 89.1% 92.4% +3.7%
June 89.3% 92.9% +4.0%
July 89.2% 93.1% +4.3%
Percentage found when dividing a property’s sales price by its original list price, then taking the average for all properties sold in a given month, not accounting for seller concessions.
90.7% 89.2%93.1%
July
90.9% 88.6% 91.4%
Year To Date
+3.2%-1.6% +4.3% -2.5%
12-Month Avg 88.5% 90.4% +2.1%
Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Provided by the Georgia Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 9
2010 2011 2012
84%
86%
88%
90%
92%
94%
96%
98%
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012
Historical Percent of Original List Price Received
2010 2011 2012
Housing Affordability Index
Month Prior YearCurrent
Year+ / –
August 215 230 +6.8%
September 218 249 +14.3%
October 220 255 +15.9%
November 219 251 +14.4%
December 213 249 +17.2%
January 218 259 +18.5%
February 224 259 +15.6%
March 220 236 +7.5%
April 221 225 +2.0%
May 220 220 -0.2%
June 220 215 -2.2%
July 215 216 +0.5%
This index measures housing affordability for the region. An index of 120 means the median household income was 120% of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability.
199215 216
July
203223
235
Year To Date
+5.2%+8.0% +0.5% +10.0%
12-Month Avg 219 239 +9.2%
Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Provided by the Georgia Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 10
2010 2011 2012
90
110
130
150
170
190
210
230
250
270
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012
Historical Housing Affordability Index
2010 2011 2012
Inventory of Homes for Sale The number of properties available for sale in active status at the end of a given month..
Month Prior YearCurrent
Year+ / –
August 78,396 65,580 -16.3%
September 77,194 63,627 -17.6%
October 75,160 61,355 -18.4%
November 73,984 59,106 -20.1%
December 72,458 56,293 -22.3%
January 70,742 54,364 -23.2%
February 70,985 53,311 -24.9%
March 71,813 53,375 -25.7%
April 72,238 53,800 -25.5%
May 71,618 52,465 -26.7%
June 70,642 50,636 -28.3%
July 67,975 46,956 -30.9%
78,799
67,975
46,956
July
-30.9%-13.7%
12-Month Avg 72,767 55,906 -23.3%
Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Provided by the Georgia Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 11
2010 2011 2012
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
100,000
110,000
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012
Historical Inventory of Homes for Sale
Months Supply of Inventory The inventory of homes for sale at the end of a given month, divided by the average monthly pending sales from the last 12 months.
Month Prior YearCurrent
Year+ / –
August 12.1 10.3 -15.2%
September 12.1 9.7 -19.3%
October 11.9 9.3 -22.2%
November 12.0 8.8 -26.6%
December 11.8 8.3 -29.9%
January 11.5 7.9 -31.7%
February 11.6 7.6 -34.4%
March 11.7 7.5 -35.8%
April 11.8 7.5 -36.1%
May 12.0 7.3 -39.6%
June 11.5 6.9 -39.6%
July 10.8 6.4 -40.9%
12.0
10.8
6.4
July
-40.9%-10.1%
12-Month Avg 11.7 8.1 -30.8%
Data comes from the Georgia MLS, Columbus Board of REALTORS®, Savannah MLS and Greater Augusta Association of REALTORS®. Provided by the Georgia Association of REALTORS®. Powered by 10K Research and Marketing. | Click for Cover Page | 12
2010 2011 2012
2
4
6
8
10
12
14
16
1-2004 1-2005 1-2006 1-2007 1-2008 1-2009 1-2010 1-2011 1-2012
Historical Months Supply of Inventory
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