Market Trend - It’s A Seller’s Market For Atlanta Luxury Homes

As the second half of 2013 begins, it is apparent that the national luxury market continues to lead the residential real estate recovery.   Today’s luxury market trends point toward a solid recovery in the high-end with strong hints in many areas of a coming “sellers’ market” (when demand exceeds supply).

Much as the Case-Schiller Composite Index and other national indices use a bundle of data from markets around the country, so does the Institute for Luxury Home Marketing Report.

The high-end home buyer has stepped back into the market and is shopping and purchasing in increasing numbers, often with all cash.  According to the report, today’s high-end home buyer is looking for future profitability, often wants a slightly smaller home than in the past, and is seeking uniqueness and artisanship.

Luxury buyers spark a lively high-end market with rising list prices:     

Trends in Atlanta indicate that the median list price of luxury home currently on the market is rising significantly (see Pricing chart).  The black line shows the weekly trend, the yellow line is a 90-day moving average which shows the rising list price trend more clearly.

Declining Days-On-Market Stat  -  sign of more active market:

Looking at the quarterly days-on-market trend line, it’s apparent that during the past year, the age of the listed inventory peaked in the first quarter, and then dropped to about 62 days on market for the average age of listings as of July 1.

Luxury inventory levels bottom out this month:

As prices have inched up, sellers are seeing their equity increase and are putting homes on the market.  Inventory is extremely low at this point, compared to September of last year.

If you were still waiting to sell, this might be the best time while inventory levels are so low.  

Marie Dinsmore, Certified Luxury Home Marketing Specialist