April Market Statistics

April 2021 continued the trend of a red-hot real estate market across Georgia. Visit the Georgia MLS Statistics page for historic data visualization of key metrics since 2017. An in-depth exploration of these estate industry metrics is included below. You can also see coverage of this month’s market report from Atlanta Agenta Magazine.

Sales Volume

Georgia MLS members across our entire footprint achieved over $4.12 billion in residential home sales during April, an increase over the same period last year (+64.4%) and over last month (+3.4%).  Peak selling season, typically through the spring and summer, has started and will likely continue to feed demand for the next several months.

  • Atlanta MSA: $3.42B (+61.4% y/y, +4.2% m/m)
  • 12-county Atlanta Core: $2.97B (+61.8% y/y, +4.6% m/m)

Sales volume is driven in part by the strong seller’s market conditions as well as increasing median prices. The median Georgia MLS home price is now $295,000 (+15.2% y/y, +5.6% m/m). ABC News reports that, “Low interest rates and remote work have supercharged demand from homebuyers over the past year,” leading to the surge in home prices.

  • Atlanta MSA: $309,907 (+16.9% y/y, +3.6% y/y)
  • 12-county Atlanta Core: $324,250 (+16.8% y/y, +3.3% m/m)

Inventory

11,612 residential units were sold in April 2021 throughout our membership (+35.2% y/y, -1.1% m/m). Residential sales did drop slightly from March to April, possibly due to the gradual easing on pent-up consumer demand as mortgage rates begin to tick back up and vaccines have become widely available. Inventory is also expected to rise, easing market pressures.

  • Atlanta MSA: 9,042 units sold (+33.6% y/y, -1.0% m/m)
  • 12-county Atlanta Core: 7,501 units sold (+34.7% y/y, -0.6% m/m)

The Georgia MLS membership currently has 14,706 new listings, a modest (+5.7%) increase from March 2020. 10,013 active listings are currently on the market, nearly two-thirds less of the active listings available last year (-62.5% y/y, +4.2% m/m). 15,182 listings were under contract in April (+38.3% y/y, -4.9% m/m).

  • Atlanta MSA: 11,521 new listings (+21.7% y/y, +5.0% m/m); 7,267 active listings (-62.6% y/y, +5.6% m/m); 11,831 under contract listings (+36.1% y/y, -5.8% m/m)
  • 12-county Atlanta Core: 9,622 new listings (+22.8% y/y, +6.5% m/m); 5,973 active listings (-62.5% y/y, +6.6% m/m); 9,739 under contract listings (+37.8% y/y, -5.8% m/m)

2021’s real estate activity started strong, and we only anticipate things to heat up throughout the spring and summer high season. Despite the feelings of frenzy, analysts predict that the housing market is not in any danger of a bubble, as in 2008. Both urban and suburban markets are thriving, and, “today the average 30-year fixed-rate mortgage remains near record lows, lenders rely on stricter underwriting requirements, and homeowners have more liquidity.”

As always, Georgia MLS is committed to supporting real estate professionals across the state.  If you have any questions, please call us at 770-493-9000 or email membership@gamls.com.

Georgia MLS March Market Report

The Georgia real estate industry saw another robust month of activity in March 2021. Visit the Georgia MLS Statistics page for historic data visualization of key metrics since 2017. An in-depth exploration of these estate industry metrics is included below. You can also see coverage of this month’s market report from Atlanta Agent Magazine.

Sales Volume

Georgia MLS members across our entire footprint achieved over $4 billion in residential home sales during February, an increase over the same period last year (+36.6%) and over last month (+41.3%).  A combination of factors, from land/lot shortages for new construction, long-term needs for home offices for remote workers, low interest rates and lack of residential inventory all contribute to rising home prices.

  • Atlanta MSA: $3.26B (+34.9% y/y, +41.5% m/m)
  • 12-county Atlanta Core: $2.8B (+34.4% y/y, +42.1% m/m)

Sales volume is driven in part by the strong seller’s market conditions as well as increasing median prices. The median Georgia MLS home price is now $285,000 (+15.2% y/y, +5.6% m/m). NPR notes that unless more homes are built, particularly homes built in an affordable range for first-time homebuyers, homeownership may become unattainable for a growing segment of Americans.  

  • Atlanta MSA: $299,110 (+15.9% y/y, +5.0% y/y)
  • 12-county Atlanta Core: $313,570 (+16.2% y/y, +6.3% m/m)

Inventory

11,682 residential units were sold in March 2021 throughout our membership (+16.3% y/y, +33.2% m/m). While some economists predict the lack of inventory may ease throughout the spring and summer as life returns to normal, the fact is that “the inventory of available homes for sale is now at a record low, driving competition and home prices ever higher.” Business Insider also notes that a lingering effect of the 2008 recession is a sustained decrease in both construction firms and the construction of entry-level homes.

  • Atlanta MSA: 9,080 units sold (+15.3% y/y, +34% m/m)
  • 12-county Atlanta Core: 7,501 units sold (+14.7% y/y, +33.6% m/m)

The Georgia MLS membership currently has 13,907 new listings, a 6.0% decrease from March2020. 9,609 active listings are currently on the market, less than half of the active listings available last year (-64% y/y, -8.7% m/m). 15,969 listings were under contract in March (+16% y/y, +19.1% m/m).

  • Atlanta MSA: 10,977 new listings (-7.3 y/y, +30.4% m/m); 6,880 active listings (-64.1% y/y, -7.9% m/m); 12,559 under contract listings (+13.7% y/y, +21% m/m)
  • 12-county Atlanta Core: 9,036 new listings (-8.4% y/y, +30.2% m/m); 5,602 active listings (-64.2% y/y, -8.7% m/m); 10,336 under contract listings (+12.7% y/y, +21.8% m/m)

2021’s real estate activity started strong and we only anticipate things to heat up throughout the spring and summer high season.

As always, Georgia MLS is committed to supporting real estate professionals across the state.  If you have any questions, please call us at 770-493-9000 or email membership@gamls.com.

Updated Listing Input Forms

2021 has brought many welcome changes, from distribution of COVID vaccines to our continued investment in technology for our members. As a part of the connectMLS™ rollout, listing inputs will also change to align with the Real Estate Standards Organization (RESO) guidelines. This ensures consistency of listing types and clean data syndication across multiple listing services nationwide. For more information about specific terms and fields, please visit the RESO Data Dictionary or reach out to Georgia MLS member services at membership@gamls.com. As always, Georgia MLS does not charge listing input fees or transaction fees, and that will not change.

New Property Types

Georgia MLS’ eight current property types will be rolled into six property types under the RESO recommendations. The six new categories are:

*Please be aware that these are sample listing input forms for the sole purpose of providing a visual example of upcoming changes. Official final versions of the updated listing input forms will be found in your GAMLS member portal.

New Features

A few additional changes will be found throughout all types of the new listing input forms. This includes:

  • Green features
    • Green water conservation
    • Green energy efficient
    • Green building verification type
    • Green energy generation
  • Section title changes
    • Listing terms
    • Lot description
    • Building interior
    • Building exterior
    • Utilities

Georgia MLS is committed to supporting real estate professionals across the state.  If you have any questions, please call us at 770-493-9000 or email membership@gamls.com.

Georgia MLS to Provide connectMLS, A New MLS Solution to its Members!

It has always been our goal to provide members with the best tools and resources so they may better serve their buying and selling clients. In keeping with that objective, Georgia MLS announces a new partnership with dynaConnections Corporation to provide their MLS platform, connectMLS™, to our 45,000 members that make up Georgia’s largest real estate marketplace.    

Created with the end user in mind, connectMLS’s intuitive, feature rich, and mobile friendly solution delivers real estate data via a modern online experience. Built using responsive design technology, the connectMLS platform automatically acclimates to any screen size, or resolution, to seamlessly adapt across all devices and every situation. In other words, connectMLS responds to the user’s preferences and not the other way around. We are confident that connectMLS’s fully customizable solution, and instinctive user interface, will appeal to today’s “modernist” agent.

We are excited to position connectMLS as the flagship system in our “front end of choice” offerings. This platform will be in addition to the Paragon and GAMLS Search interfaces, which will remain available to the member base. So whether the end user desires the modern day interface and integrations of connectMLS, the familiarity of Paragon, or just the “grab and go” ease of GAMLS Search, this concept of multiple front end solutions will accommodate every type of member.

The rollout of connectMLS will begin with Search, View, and Print functionality early March 2021, soon followed by listing entry, listing maintenance, and photo upload.

To help prepare for this exciting new system, Georgia MLS will be offering a variety of training options. Starting with webinars, virtual learning and self-help options, members will have ample opportunities to meet the needs of their schedules. A variety of connectMLS sessions will also qualify for 3 hours of Continuing Education. We strongly encourage all members to attend a training class so that they can take advantage of connectMLS’s powerful capabilities.  

As we start this new year of opportunities, the team at Georgia MLS is committed to providing the tools, technology, and service that will lead to another year of success. Together we make the market work, and together we make homeownership happen.

Reflecting on 2020

“Record-breaking” is a phrase that sums up 2020 in many ways, both for the positive and the negative. The Georgia MLS team wanted to take a few moments to look back on such a pivotal year.

Responding and Adapting to COVID-19

  • Waived over $2 million in membership fees
  • Waived listing withdrawal fee for sellers with COVID-19 concerns
  • Extended Temp on Hold Status from 7-10 days
  • Added 2 new searchable fields for Virtual Open Houses
  • Supported real estate professionals with various resources and encouraged use of virtual technologies

GAMLS Milestones

  • Georgia MLS members set year-over-year records for total residential sales six months in a row
  • Reached an all-time membership high of 45,043
  • Achieved a record high of 3,123 listings closed in a single week during June 7 – 13
  • Surpassed $4 billion in sales for the first time in a single month (July 2020)
  • Contributed over $200,000 to local real estate associations

Technological Investments

  • Implemented new Dashboard for gamls.com
  • Empowered agents with enhancements to Ditto, allowing listing autofills between FMLS, The Lake Country GA MLS, Altamaha Basin MLS, and Classic City MLS
  • Enhanced our market statistics page with interactive monthly snapshots
  • Rolled out new functionality for the consumer-facing website, GeorgiaMLS.com
  • Provided Cloud CMA and Cloud Streams as a member benefit, formerly an add-on subscription
  • Transitioned our online CE education platform from OnCourse to Mbition
  • Premiered the redesigned MLS Tax Suite prospecting function
  • Partnered with Transaction Desk to improve Authentisign and form clauses

Policy Changes

  • Kept members informed of special pandemic stipulations, “on hold” property status. Implemented Coming Soon Status to comply with NAR’s Clear Cooperation Policy 8.0.
  • Updated photo policy guidelines in accordance with national industry standards

While we realize it may be a while before we see anything close to “normal” again, we can’t emphasize enough how proud we are of the entire Georgia MLS membership for making the dream of homeownership continue to happen.

Keeping Up with the Markets

Americans, in general, are living longer and working longer. Professionals in any industry will be required to continue learning to support these longer career spans. Pew reports, “The most valuable workers now and in the future will be those who can combine technical knowledge with human skills and adapt to the changing needs of the workplace.” Lifelong learning and the continuing need for continuing education is the inevitable reality for any professional adult in the workforce and doubly so for real estate professionals. Just this year, virtual home tours and other digitally assisted activities has increased exponentially. Pew suggests that the most successful professionals are “T-shaped” people: Workers with broad general knowledge and deep specific knowledge in one niche area. A particularly important niche for Georgia MLS members is the condition of the real estate market throughout the state and especially within their geographic focus.

Keeping up with the real estate market benefits members in several ways:

  • Understanding the fluctuation of inventory lets members advise clients on the urgency of offers or when the best time to buy or sell might be.
  • Using the data effectively also empowers agent to follow median home prices and predict upcoming market activity or seasonal trends based on the number of new listings, active listings and under contract listings.
  • Allows agents to set themselves apart from competitors with intimate familiarity of the market in their area.

Georgia MLS encourages our members to embrace their full potential by supplementing their experience and expertise with hard data. Clients want someone who has the education and the knowledge of the real estate marketplace to help them navigate through the home buying/selling process. Here are the resources available to every Georgia MLS member:

Georgia MLS offers support and transparency through our member emails so that our members are always in the loop, whether the information be about product and service updates, upcoming continuing education classes or technology tips. In such a competitive market, Georgia MLS strives to provide members with the best tools and information available to set themselves apart from competitors. 

As always, Georgia MLS is available to support real estate professionals across the state.  If you have any questions, please call us at 770-493-9000 or email membership@gamls.com.

October Market Report: Not Ready to “Fall” Down Yet

Residential real estate activity typically winds down after Labor Day, with the slowest months commonly occurring during the winter. October historically bridges the tail end of the summer frenzy with the beginning of the seasonal lull. However, this October was still a reasonably active sales month.

Statewide Snapshot

Across the entire Georgia MLS membership, real estate agents sold 11,661 units. While the total number of units sold in October was down 2.8% month-over-month and down 16.1% compared to the same time last year, total sales volume came in at $3.7 billion – a 38.8% increase over 2019. Median sales price increases (+1.5% m/m, +16.8% y/y) contributed to the higher sales volume despite slightly lower total units sold. Fox 5 Atlanta* reported that Georgia home values continued to rise due to a combination of favorable mortgage rates, low inventory and increased comfort with virtual home tours and online home sales.

New residential listings totaled 13,249, down 1.6% from September and a notable -45.2% from October 2019. Many current homeowners have been and remain cautious about putting their homes on the market mainly due to the pandemic and uncertainty around the election (Forbes, Keeping Current Matters).

Active listings totaled 17,122 (-3.6% m/m, -45.2% y/y) and Under Contract listings totaled 14,861 (-2.1% m/m, +18.2% y/y).

Click for the interactive Georgia MLS Member Area Market Snapshot.

Atlanta MSA

The 29-county Atlanta Metropolitan Statistical Area echoed the broader statewide trends:

  • 9,041 units sold (-2.5% m/m, +16.8% y/y)
  • $3+ billion in sales volume (-2.5% m/m, +35.9% y/y)
  • $283,500 media sales price (+2.3% m/m, +17.1% y/y)
  • 10,448 New listings (-1.1% m/m, -5.8% y/y)
  • 12,619 Active listings (-3.0% m/m, -44.0% y/y)
  • 11,616 Under Contract listings (-1.9% m/m, +14.6% y/y)

Atlanta Agent Magazine noted the increase in homeownership in 2020 “is being driven by a need for more space to accommodate home offices, distance learning and lives increasingly led at home.” While Atlanta MSA home prices are rising, USA Today still rated the metro area in its top 20 most affordable cities. We estimate current single-family, detached homes at 1.62 months of inventory, down 79.53% from October 2019. This year’s exceptionally unique confluence of events has thrown traditional wisdom about the seasonality of real estate during fall and winter somewhat out the window.

Click for the interactive 29-county Atlanta MSA Market Snapshot and the 12-county Atlanta Core Market Snapshot.

As always, Georgia MLS is available to support real estate professionals across the state.  If you have any questions, please call us at 770-493-9000 or email communications@gamls.com.

*Real estate date provided to Fox 5 Atlanta by Georgia MLS. All data can be accessed at https://www.gamls.com/statistics.

Top 5 Things You Need to Know About Georgia MLS.com

Providing information and advice is one of the most important aspects of a real estate agent’s relationship with home buyers and sellers. GeorgiaMLS.com, the Georgia MLS’s consumer product, has a wide variety of tools for buyers, sellers and renters. By familiarizing your clients with the most useful aspects of the public-facing website, you can also gain greater understanding of your local housing market. Keep reading for the top five things both real estate agents and consumers need to know about GeorgiaMLS.com.

Searching to Rent or Buy

Properties available for purchase or for rent are available to search on the website. Users can search single family homes, condos and townhouses, acreage and farm, land lots, multi-family homes and commercial properties all from the home page. A few simple clicks then give users the ability to search properties for sale or for rent with more refined parameters such as geographic data, school name, bedrooms, baths, square footage and many more!

With the low inventory of single family detached properties in Georgia, stay in the know when searching in GeorgiaMLS.com. Use the more specific search criteria to reveal listings that interest you. When you find a listing you like, GeorgiaMLS.com gives you the option to keep track of your preferred listings with the “Save Your Favorites” tool.

Share Listings

Users can share listings various ways. Right below the “Save To Favorites” option (pictured above), house hunters can also email listings directly to friends and family. You will be prompted to enter your name and email as well as the recipient’s name and email. This will let the receiver know where and who the listing is coming from. At the bottom of the listing, there is a permalink which will allow you to copy and paste this link anywhere. Listings also have buttons to share directly to your favorite social media platform.

Listing Data

GeorgiaMLS.com offer unparalleled insight into the history of each listing. you can view the public remarks from listing agents, property details, interior/exterior features, school information, financial information and Broker/Agent information. That tells you:

  • A general description of the listing. It summarizes the most attractive features of a property and has the goal of making users want to schedule a showing. (Public Remarks)
  • The location of the listing (Property Details)
  • Bedrooms, baths and other in-home amenities (Interior Features)
  • Construction type, roof, and other outdoor amenities (Exterior Features)
  • Local school names (School Information)
  • Tax ID, estimated property tax value and estimated HOA fees (Financial Information)
  • Who to contact for more information or to schedule a showing (Broker/Agent Information)

For real estate professionals, having your free personal website complete as well as making sure your GAMLS member profile is up-to-date will help make sure there’s less drop-off between listing views and and converted leads.

When you visit a listing, there are two different places for you to contact the listing agent. The first is on the top righthand corner, where you can click “Contact Agent.”

The second place where you can contact an agent, is at the bottom of the listing. This will allow you to send a message to the listing agent as well as send inquiries, such as “Make an appointment to see this property” or “Get help selling my current property.” Once you submit an inquiry, the message will go directly to the listing agent for them to assist.

View Tax Records

Other than the Tax ID being provided to you on the full listing report, you can click on the blue tab at the bottom of the listing report. Here you will be able to find more specific property characteristics, such as census track/block group, legal description, a short tax assessment, and previous sales from the county.

As always, Georgia MLS is available to support real estate professionals across the state.  If you have any questions, please call us at 770-493-9000 or email membership@gamls.com.

September 2020 Housing Market: Buyers Facing Inventory Shortages causing House Prices to Rise

The housing market is one of the few sectors to experience a true V-shaped recovery following the Coronavirus pandemic. However, the main barrier to rising demand remains the lack of inventory.

In Georgia, the number of active listings in September totaled 17,766, a decrease of 6.6% from the previous month. Year over year active listings are down 43.9% and reached the lowest levels since 2012.

As record-low mortgage rates continue to entice buyers into a market with ever-shrinking supply, the newfound demand is driving up house prices.

In Georgia, the Median Sales price for September is $267,770, an increase of 13.5% year on year, or $31,770.

Sales volume totaled $3.8 billion in September, a decrease of 4.0% from August 2020 and an increase of 44.8% year over year.

John Ryan, Georgia MLS Chief Marketing Officer said:

‘Given the uncertainty of the economy and the pandemic, sellers appear to be reluctant to list their home or are refinancing their mortgage. On the other side we have buyers, especially first-time buyers, taking advantage of record low mortgage rates to fulfil their dream of house ownership. All this resulting in record low levels of inventory.

 ‘Across Georgia we currently have 2 months’ supply of housing. Data has shown that six months of supply is associated with moderate price appreciation. Lower levels tend to push prices up and this is exactly what we have seen across Georgia in recent months.

‘Looking ahead to 2021, many real estate analysts are predicting that the COVID-19 pandemic will lead to a rise in mortgage defaults and foreclosures. If this is the case inventory will increase, in turn resulting in a slowing of price increases and possible decline in pricing depending on the number of houses that come onto the market.’

In Bankrate, Jeff Ostrowski, Senior Mortgage Reporter said:

‘As dramatic as the projections seem, it’s worth noting that foreclosures had fallen to record lows in late 2019. Home prices had risen steadily in the past decade, driven by a strong economy and not enough new construction to satisfy demand.

During the Great Recession, foreclosure filings spiked. In the first half of 2010, 1.65 million American homes went into foreclosure, according to ATTOM. In the first half of 2020, barely 165,000 loans were hit with foreclosure actions. Even if defaults rise dramatically, they’ll remain well below the levels seen during the mortgage meltdown.

(Source: https://infogram.com/br-foreclosure-filings-1hkv2ndprvqr6x3)

Georgia Housing market Trends in Line with National Report

The low inventory trends in Georgia are typical of what we are seeing on the national scale.

Realtor.com reported in the week ending Sept. 19, there were 39% fewer homes on the market compared to last year, and any upcoming uptick is unlikely given the typical seasonal slowdown on the horizon.

The lack of supply has been the catalyst for heated market conditions as median listing prices last week grew at a record 11.1% year-over-year—more than double January’s pace—marking the 19th consecutive week of increasing price tags, the report said.

Click on image to view Housing Market Statistics

Increase Brand and Listing Exposure with Your Georgia MLS Personal Website Provided With Your Membership

In today’s digital world, a website is an essential asset for businesses across the globe and real estate is no different. As part of your Georgia MLS membership, every member receives a personal website, helping to increase exposure of both your brand and your listings.


If you have not set up your personal website yet, do not worry. It is as easy as ABC. Create and maintain your website from our simple to use web portal, no website or coding experience is required.


Why do I need a personal website?
Growing your brand and standing out from the crowd is critical when operating in a highly competitive market. Searchable on the internet via Google and all other search engines, you will gain exposure to prospective clients with no added costs for hosting.


Your personal website is also a great way to increase listing exposure. All listings entered through Paragon, Ditto or the GAMLS portal are automatically published to your website within 15 minutes.


Similarly, listings are automatically populated on our consumer facing website GeorgiaMLS.com, where 659,065 house hunters visited April through October. Prospective buyers can easily access your personal website directly from GeorgiaMLS.com when viewing your listings or your agent profile.


Customization: Stand out from the Crowd
Personalizing your website will help tell your brand story and your welcome message is a key part of that personalization. Prominently positioned on the homepage, use this opportunity to tell prospective clients the most important information about you. Think of it as your online sales pitch and remember, you never get a second chance to make a first impression, so take your time and craft a thoughtful message. It may pay dividends down the line.


Website aesthetics are important, and our portal allows you to choose from a large number of mobile-friendly website themes, select your brand colors, add a profile photo, company logo and more.


Sift through our bank of images and select the best hero image that portrays your brand. Choose from a large selection of images from external and interior house shots to beautiful photographs of the city, lake, mountains and more.


Next up, connect your digital channels to ensure prospective clients can build a full picture of your business and your digital presence. We recommend adding your personal website address to your social media channels and vice versa.


Customizing your website address, or URL, is important for both Search Engine Optimization (SEO) and to ensure it aligns with your brand. Within the portal you have the option to customize your URL by simply amending the prefix. For example, Barbara Russell’s personalized URL will roll off her tongue when she shares it with the world by simply amending the prefix – BarbaraRussell.georgiamls.com.


All the personalization options outlined above are updated in real time. Within each section, you will also see instructions to guide you through each section. For example, recommended images sizes are provided. It really is that easy.


Features List
In addition to showcasing your listings, both active and recent sales, in a carousel, the website features a Contact Form. Prospective clients complete a simple form with details of their inquiry, which is automatically sent to the email we have on file for you. Another valuable lead generation channel to add to your toolbox.


Additional features include access to real estate market activity reports, a mortgage calculator, school information and county public records.


Data Insights with Traffic Reports and Google Analytics
Monitoring website traffic is a great way to understand online business activity and can help you make smart decisions. Our personalized website includes built in traffic reports to allow you to track page views, including:

  • Listing views across all member sites in the last 30 days.
  • Most popular listings viewed at your site in the last 30 days.
  • Email leads in the last 60 days.


We also provide the ability to add Google Analytics, all you need to do is set up an account and ID separately.


Look at some Live Examples
https://agarwalmansi.georgiamls.com/
https://alatristaenr.georgiamls.com/
https://mahraalonso.georgiamls.com/
https://victorallen.georgiamls.com/


Access Your Personal Website Portal
Ready to get to work on your new website? For more information on how to set-up and manage your personal website, we recommend watching our step by step video tutorial with Grep Epps, Member Services Manager.


To access your free personal website, simply login to your GAMLS member profile. Select Membership from the main menu then Manage my website.
If you have any questions, please call us at 770-493-9000 or email membership@gamls.com.