The Market Continues To Move Forward
The real estate market here in Atlanta continues to move forward despite the COVID19 lock down. As an industry we are learning how to utilize the technology available to us to get our jobs done. The good thing is that we live in an age where so many things can be done virtually. Oddly enough this crisis is helping real estate professionals to start working in more efficient ways. Many of the virtual and digital technologies being used in this environment may become standard moving forward. Virtual open houses are just one example of this. The MLSs are now allowing agents to share links to their virtual open houses through the site. Soon the syndicated sites like Zillow, Realtor and Trulia should follow suit by including those links in open house descriptions on their sites and distinguishing between physical and virtual open houses. Now, on to the numbers.
The Numbers
Home sales in Atlanta have been fairly steady this past week. In the last 7 days 1752 homes have sold in the Metro Atlanta area. That is just slightly down from the previous week in which 2121 homes sold. Pending sales for the same two weeks vary by about the same amount. Last week just over 1200 homes went under contract. The previous week nearly 1400 homes went under contract. The good news is that we came into March and April with extremely low volume of homes on the market. Even with with more listings hitting the market now and sales declining slightly, we are still below average for inventory and days on market is also lower than previous months. See the charts below.

