October Market Data Is In....BIG MISS

The October data is in. While everyone thought this month was going to be a bloodbath, the numbers show a different story. A decline, yes, but a fast-crash, not right now. Let's dive into it. We're going to look at it from two different angles. Month over Month and 10-years back.

*This data is representative of residential "detached" properties in the 11 metro Atlanta counties*

Month over Month

  • Number of Active listings dropped slightly, from 11,513 to 11,063
  • Median Closed Price held stable, $417,490
  • Days to Sell (Median) held stable at 15 days
  • Months of Inventory increased from 3.5 to 4 months 

Overlook, 10-Year Charts:


Not only did we not crash and burn in October, we seem to be returning to trend. The median closed price went down slightly, almost remaining flat month over month. Months of inventory ticked up slightly, in line with the trend from years prior to 2020. The total days required to sell stayed flat, at just 15 days on the market. Finally, the number of active listings went down by about 500 homes. Furthering the thesis that we are not seeing a huge uptick in inventory flooding the market. 

This flattening will most likely remain for the rest of Q4. As we approach the holidays, I expect fewer and fewer homes to hit the market. This would keep the potential for an inventory explosion relatively low. 

Here is my advice: If you are a seller, and you actually want to sell your home. You need to have a clear strategy in place for pricing, marketing, etc. The days of throwing it on the MLS, sitting back and relaxing are over. If you are a buyer, the same rules apply. HAVE A PLAN and stick to it. You have the opportunity to be patient now. Take advantage. Contingencies have come back into the picture. In most cases, buyers have much more negotiating power than they did back in Q1 & Q2 of this year. Don't let your agent rush you into a home to grab a quick commission.

As always if you need anything or have questions, give me a call. 404-680-0710

Posted by Carson Hulak on
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