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Market Statistics For Townhomes in Brookhaven and Buckhead
By Ryan Ward | December 31, 2007
These Statistics are for townhomes in Brookhaven and Buckhead built after 1995 between $350,000 and $750,000. Keep in mind that sold statistics only reflect accurately priced homes.
| Average Sales Price | $422,060 |
| Sales Price/List Price | 87.5% |
| Average List Price | $470,335 |
| List Price/Original Price | 98% |
| Average Original Price | $481,795 |
| Average Days On Market | 102 |
| Active Listings | 83 |
| Pending and Contingent Homes | 9 |
| Sold Last 30 Days | 4 |
| Sold Last 90 Days | 20 |
| Absorption Rate (Last 90 Days) | 12.5 Months |
Inventory remains above a 12 month supply for this segment of the market and there is one important item to note in the statistics. The sold price compared to original list price is about 87.5%. Some of this is because of new construction discounts, but, the rest is reflective of the overall market. These numbers also do not reflect any additional seller concessions towards buyer closing costs which was typically about $5,000. Townhomes that have sold, have had large reductions from one year ago and these statistics are likely to continue as the inventory levels remain high.
Also note that the average price of homes sold between $350,000 and $750,000 is about $422,000 - this shows that homes at the higher price points are not selling as well as homes between $350,000 and $450,000.
Topics: Brookhaven Real Estate, Buckhead Real Estate |
January 2nd, 2008 at 4:15 pm
Ryan - I find it interesting to see you using the average rather than the median price paid.
Not to be argumentative - why do you feel average price is better than median?
January 2nd, 2008 at 4:39 pm
Actually Glenn, I don’t think either one are terribly helpful.
Median tells me that half sell for more and half sell for less - not sure what that does to help me understand the market. Plus I can’t get those stats as easily from our MLS.
Average tells me a little bit because I can then see if the average for homes in a segment are generally moving up or down.
Neither one is overwhelmingly helpful by themselves
January 2nd, 2008 at 6:00 pm
Ryan, sometimes looking at both average and median it might be able to give someone a better idea of the market and what it is doing. If the numbers are close there may not be any need for further research. However, if the numbers are quite different, additional research may show an indication of greater movement in the upper or lower price segments.
One other thing - are townhomes in your area - condominium or fee simple ownership?
January 2nd, 2008 at 6:00 pm
Great Report Ryan, and great looking blog. Keep up the good work.
I was wondering, are you doing your articles in this blog as posts or pages?
Thanks,
James Boyer
January 4th, 2008 at 10:58 pm
Glenn,
They can be either…
Thanks Jim.
January 4th, 2008 at 11:06 pm
Still wondering which you are using for this blog, for example is this story a page or a post??
do you have a feel for which is regarded better by a SE
January 6th, 2008 at 10:40 am
It’s a post. It’s set up so that each post becomes it’s own page. In fact, they all are that way. There is a permalink to each story (the story’s title) on the homepage that opens to a new link for each page.
You need to set your permalink structure so that it has a search engine friendly url.
To do that you go to:
Options/Permalinks/
Under “Common Options”, check the box “custom, specify below” and insert:
/%postname%/
This will give you url’s that are the name of the post.
January 6th, 2008 at 11:00 am
Thanks for the advice Ryan, I checked those settings and found that I had that exact setup.