How’s the Market

November 26, 2007

How’s the market? No matter where I go or who I meet, as soon as someone identifies me as a Realtor I am asked this question. With today’s housing market being national news, the question is asked even more often.

Here in North Atlanta, the number of houses on the market indicate a “buyer’s market” for sure. However (and this is the good news) prices are remaining stable. Unlike other parts of the country - Boston, Las Vegas, California and Miami - we are not in a state of free fall. Even within our market area of north Atlanta suburbs, the supply and demand is quite varied.

The chart below shows the current absorption rate in four geographic regions of North Atlanta. The amount of time required to absorb the current inventory has increased in all four regions since we last reported in the North Atlanta Real Estate Review in January. In East Cobb the rate increased from 5.4 to 7.7 months; North Fulton increased from 5.6 to 8.3 months. absorption_rate north atlanta real estate The absorption rate reflects supply and demand. By calculating the number of homes sold over a specific period of time and the number of homes currently for sale, the absorption rate produces the average number of months that it will take to sell the current supply of housing inventory. It is important to note the chart is an average of broad geographic regions. There is significant variation in rates across price ranges.

Posted by Kathy Drewien | Filed Under Market Reports | Leave a Comment