Sherry and Matt Wren

We advise our clients, creatively market properties, and are in direct contact with buyers and sellers daily.

Do you wonder what homes or condos in your neighborhood are selling for or how the nuances of hyper-local supply and demand are influencing your property’s value?

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We, on the Wren team, enjoy showing you the buying patterns and sold homes in your community. We act as a conduit of helpful and relevant information for all of our clients. Take a look at this sample Market Report we created this fall (digital magazine below), as well as the updates showing more recent activity at The Stacks as of December 31st in this article.

This market report focuses on The Stacks lofts, the adaptive reuse of the historic Fulton Cotton Mill, where we recently sold condo E 421 for above the average 2019 sold price for 2-bedroom units at The Stacks condo community. These industrial chic lofts are located just a few blocks from the Atlanta Beltline Eastside Trail and great dining options.

Since we first published this condo market report, there have been a few more sales through December 31st, 2019. For the whole year of 2019, January 1st through December 31st, there were 42 sales closed at The Stacks (up 24% from 2018). Since the market report above was first published, the number of condos available for sale at The Stacks decreased 46% from 13 available as of October 30th, 2019 to 7 on December 31st.

At the absorption rate of 3.5 sales per month in 2019, the months supply of condos at The Stacks currently is 2.9 months, based on supply and demand for The Stacks alone. This “months of supply” is a key indicator of supply and demand. Generally, when months of supply is below 6 months, as it currently is for condos for sale at The Stacks, it is considered a Seller’s Market.

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Over the year ending December 31st, 2019, The Stacks condos show strong demand, with a higher average likelihood of selling compared with condos and lofts in the broader market. Below are a few quantitative measures which show this. These stats are based on FMLS data for the entire year 2019.

Condos at The Stacks (which sold in 2019 for prices ranging from $226,500 - $525,000):
- Likelihood of selling (as defined below): 67%
- Months of Supply: 2.9 months
Condos in Zip Code 30312, priced from $0-$600,000:
- Likelihood of selling (as defined below): 54%
- Months of Supply: 3.6 months
Lofts in City of Atlanta (all price points):
- Likelihood of selling (as defined below): 58%
- Months of Supply: 3.1 months
Condos in City of Atlanta
- Likelihood of selling (as defined below): 57%
- Months of Supply: 3.9 months

The likelihood of selling is defined as the number of closed sales during the last 365 days, divided by all those previously listed during the last 365 days ending December 31st, 2019. This includes closed sales, withdrawn or expired without selling, currently available for sale, or currently under contract, but not yet closed.

The likelihood of selling metric measures the challenges faced when putting any home or condo on the market when there is real competition from others on the market as well. Not all of the condos listed and being entered into FMLS in any given year sell before expiring or being withdrawn. This is why having the right marketing plan, pricing strategy, and team of real estate advisors is so important.

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If you or someone you know are considering a move, we’d love to help! We will put our experience to work for you. We, on the Wren Atlanta team, just sold a condo at The Stacks for well above the average 2-bedroom price in 2019.

Note that the sample Market Report is a lengthy report. If you would like more information on real estate at The Stacks community, or a shorter updated version of this report, let us know. If you would like us to provide a shorter market report, custom-made for your neighborhood, we’d love to speak with you.

We can provide a free custom real estate review for you and your neighborhood. Just give us a call at 404-731-8300.