Mableton Housing Market Holdin’ Steady & Lookin’ Up

The latest numbers for home sales in the Mableton area are out and it looks promising.

In the first graph I’ve attached, you can see what’s going on with detached (single family) homes. The number of pended homes (accepted contracts or offers that have not yet closed) is holding steady with June’s numbers. The number of homes that sold dipped a little from May and June, but still look good. Most important to note is the steadily decreasing number of homes on the market in the last year.

In the second graph, the numbers for attached homes (condos and townhomes) tell a similar story. Inventory is way down. Pending contracts are holding steady after a peak this spring. Attached home sales slowed a bit from June, but when that’s compared to the amount of homes that are actually on the market, that’s really not so bad either. And consider the sales prices of those homes that have sold.

Sales prices of Mableton detached and attached homes both went up 6.8% over a year ago. Look at the third chart, which shows an increase in sales prices since last month. Following that little purple line, you’ll notice that sales prices have held pretty steady and even swing upward a bit over the course of the last year. This is good news. Data shows this is a trend taking place all over the country. Atlanta has been a little slower than other markets to bounce back, but we are improving and that’s good news for everyone.

The same chart also shows the average days a home sat on the market for sale in yellow. These numbers will always fluctuate by season, but notice that this spring and summer saw some steady improvement. Compared to last year, it may look a little higher. Consider that some of that has to do with increased sales prices. It’s getting harder and harder to find those killer deals that followed the housing market’s decline a few years ago.  

Across the board, inventory levels of homes for sale are way down. Buyers are motivated by low interest rates and sellers have the advantage of less competition.

If you’re on the fence about selling, we have some great resources for determining how much your home is worth in the current market.

We also offer a great comprehensive resource for prospective buyers curious about everything from schools to home values in our digital magazine, New Movers.

If you’re think of buying in Mableton, consider stopping by one of our open houses this Sunday, September 16th from 2-4pm. For more information, visit PetersenPartners.com.

I’m always happy to answer any questions you may have about the local market as well. Feel free to contact me at John@PetersenPartners.com or call me at 678-478-2424.