Friday, May 18, 2018

Atlanta Housing Market Looks for Support, After Big Drop

(Click on the image to enlarge)

HIGHLIGHTS

1. Median Sale Price: After shooting up from $200K to $318K in mere four months, the median has retraced more or less back to the point of origin, potentially leaving thousands under-water. Since August, the trend has been sideways, remaining range-bound between $200K and $220K. The December jump could be explained by the preceding and succeeding lower lows. In a research environment, this aberration would be ironed out via technical smoothing.

2. Median Sale Price per SF: This normalized trend is in tandem as well. The recent trend has been sideways between $120/SF and $130/SF, with an expected smoothing in place. The market however needs to stay above the $120/SF support.  

3. Year-Over-Year: Though the YOY trend (Jan-18 over Jan-17 and Feb-18 over Feb-17) remains positive around 4% (either way), it’s expected to turn negative now considering the sizeable jump in prices last spring and summer. 

Note: This analysis covers the City of Atlanta, not the entire Fulton County.

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