Market Insights, Ponce City Market, and Spooky Community Fun
Welcome back to another week's edition of Go Gaddis Real Estate Radio right here on AM 920 The Answer. I'm Cleve Gaddis. In this first segment of the show, we've got your Metro Atlanta residential real estate update for the month of September and also year to date in 2023 through the end of September.
In our Something You Should Know About Metro Atlanta segment, we're featuring Ponce City Market. And go ahead and get spooky with your community. We've got some tips. On exactly how to do that. My name is Cleve Gaddis. You're listening to Go Gaddis Real Estate Radio. When I grew up, right here in Metro Atlanta, born June 16th in 1968, right here in Metro Atlanta.
My mother was a homemaker for first few years of my life. She later became a teacher and then a full time real estate agent, which is where the sort of the legacy of the Gaddis partners or the Go Gaddis Real estate comes from. She started in 1987. My father was a CPA, was a CPA for gosh, almost 40 years.
And to say that my parents valued knowledge would be an understatement. Um, the way I earned their respect, the way I earned, uh, them being proud of me was to, uh, get serious and to learn the things that I needed to learn in school first and then in college and in work and being a parent and all of that kind of stuff, just pretty much the same as it would be for you.
But I basically turned that obsession for details and for knowledge because I learned early in life that if you know a little bit more than the people you're dealing with, then in general things work out better for you than they work out for the people you're dealing with. I'm not saying. Under any circumstances, do I want to win while other people lose?
That's not what I'm saying at all. What I'm saying is that sort of I've taken this obsession that I learned as a child and I've turned it into a real estate career. If you listen to the show, we want to help you. Become a real estate expert from a novice. We don't want there to be anything that you learn at closing or after that you should have learned before when you're making life's biggest investments, which would be the sale and are the, and, or the purchase of real estate.
And don't forget, we want to connect with you. We really do. It's easy. Go to go get us radio. com. That's G O. G A D D I S radio dot com. You can ask questions that we answer on air or off air. You can make any kind of comments or challenge things we say, or if you've got some great ideas that you want to share or you want me to share with listeners, we'd love to hear from you.
Again, gogaddisradio. com. You can also request your neighborhood be featured in our neighborhood spotlight, which is where we Uh, do some additional deep dive research into one specific Metro Atlanta neighborhood To call out critical changes over the last three years and you can subscribe to our podcast and we would love for everybody To be a podcast subscriber next we've got the Metro Atlanta Residential real estate update through for the month of September and through the month of September In terms of new listings in the month of September Uh, we were down 22 percent to 4, 862 listings year to date.
We're down 21. 8%, 46, 313. These are single family detached. These are not the condos and the townhomes. There are currently 2, 800 pending sales, which is down 19. 5 percent from last September. Year to date, we've had 33, 557 pending sales, which is down 19. 6%. And closed sales, 3, 216. Excuse me, 3215 single family detached.
For the month of September down, 22.9%, 32,643. Year to date, which is also down 22.4% days on market. September of 2023 we're at 29 days, which is 11.5% more than this time last year. Year to date, we're at 33 days, which is. It's approaching double what it was this time last year, 73. 7 percent increase average sales price 536, 000 in the month of September, which is up 4.
7 percent 530, 103 year to date, which is up 2. 4%. When that September increase is larger than the year to date increase. That means prices are still moving in the right direction. Home sold for 99. 2 percent of their list price year to date 98. 9%. In the month of September, that would indicate a little bit of softness.
There are currently 8, 634 single family detached homes available for sale, which is down 21. 2 percent. And a month's supply of inventory for single family detached is 2. 5. New listings for condos and townhomes, 1, 494, which is about even compared to September of 2022, 13, 637. New listings year to date condos and townhomes, which is down 12.
5 percent pending sales 836 in the month of September, 10, 500 year to date, which is down 16. 1%. Number of closed sales, 1, 041 in the month of September, which is down 20. 5%, 9, 838, which is down 20. 9 percent year to date. Days on the market, 31 in September, 33 year to date, which is 65 percent higher than it was this time last year.
Average sales price, Condos and townhomes in the month of September 399, 850, which is up 8. 8 percent over the prior September and 390, 477 year to date, that is up 3. 5 percent over the same period last year. Percentage of list price received 99 percent in the month of September, 99. 2 percent year to date inventory of homes for sale 2675 condos and townhomes available for sale, which is 7.
1 percent increase. Month Supply of Inventory 2. 6, so that is a ton of data for the real estate market. It is, I know you get tired of hearing this, but if you want to sell and your house is in good shape, or you're willing to price it correctly, now is a good time to sell. If you want to buy, you should have a lot more inventory on the market right now, a lot more choices.
We get inventory going off the market, but we're getting a lot more choices that are coming on the market each and every week. So if you're a buyer and you feel like you've been shut out of the market, Then I say jump back in or at least start having conversations with a real estate professional, maybe even Modern Traditions Realty Group, which is my real estate firm, so that you can be ready for 2024.
The number to call us, number to use to call us is 770 497 0000. And there's something you should know about Metro Atlanta. We're talking about Ponce City Market. My daughter just moved to a home in Morningside, which is just not too far from Ponce City Market. And the retail dining and recreational residential complex we know as Ponce City Market opened in 2014 in the old Sears and Roebuck.
And company building in Atlanta's old fourth ward. The building date back dates back to 1926. Sears used it as both a retail store and a regional headquarters bringing in thousands of jobs before moving out. In 1979, the building was home to City Hall East in the 1990s before it was purchased by developer Jamestown connected to both the old fourth ward and the Atlanta Belt line.
This building encompassing more than 2 million square feet. It was renovated, bringing a big name retailers and food hall outposts by nationally renowned chefs and office and apartment spaces. The Ponce City Market takes its name from Ponce de Leon Springs, a popular day trip destination for suburbanites in the 1860s.
A local doctor named the springs after Ponce de Leon, you like how I say that, Ponce de Leon, to create the association between these springs and the explorer's quest for the fountain of youth. Ponce de Leon Avenue, which runs alongside the building, was named for the springs and the man, but no, the man never came to Atlanta.
There are so many neat things about Ponce. You've got Spiller Park, a four, it's a, uh, four acre lake, which was filled in. In 1907, to create Ponce de Leon Ballpark, commonly known as the Ponce and Spiller Park, you've got a farmer's market. Sears held a farmer's market on the property from 1930 to 1947, showcasing items grown by the store's most loyal customers.
You have got tons and tons of reasons to visit. Ponce City Market. If you want more information, just go to Google, type in Ponce City Market and go down and check out what is going on. Halloween is Tuesday the 31st. We want you to stay safe and certainly watch for the kiddos. We have some ideas on how to get spooky with your community.
I want to share some of those with you here. So I don't know if you've got trick or treaters in your house. I don't have any trick or treaters in my house anymore. Um, but, uh, I still plan to dress up for Halloween. Connecting and participating in your community is a key factor for the successful marketing and business when working in real estate.
Being a realtor is akin to running a small local business. You have to be part of the community to keep the business going. And so... You should participate in trick or treating many areas where the downtown will run a trick or treat street event in their shopping district You should sponsor schools or community group parties.
These are recommendations for realtors here You should host your own community event, which might be a great thing for you to do to get involved in the holidays for 20 30 years, I never remember wearing a Halloween costume. Now, for the last three years, I've worn a Halloween costume every year. And I have absolutely loved getting to do that.
If you're looking to sell your home anytime in the next six to 12 months, we believe we can sell your home for 28, 000 more. Then your neighbor sold his or her home for all you do is go to go get us radio. com. Click on 28, 000 more when you log on, you'll see 28, 000 more right on that top toolbar. Just put in a little bit of information.
I'll get back with you myself. I might not follow up with you myself, but I will talk to you myself. And I'll work through two things with you. Number one, how we use a customized maximum value plan, which is like an appraisal on steroids. And number two. How you can participate in our rehab and refresh program with up to 15, 000 in allowance to get your house in tip top shape.
Again, if you want to sell your house for 28, 000 more than your neighbor. Go to gogaddisradio. com, click on 28, 000 more. Also, you want to plan to come see us at our Modern Traditions Holiday Extravaganza, which is Saturday, November the 18th, before Thanksgiving. From 10 a. m. to 3 p. m., you can get your pictures made with Santa.
Regardless of what your crew looks like, you can pick up a free pie for Thanksgiving, and we'll have other fun activities. You can sign up on gogaddisradio. com G O G A D D I S radio. com. This segment of the show is brought to you by John Birchfield and Capital City Home Loans. John makes it his mission to guide each homebuyer step by step through the entire loan process so they are educated and confident in the mortgage options available.
He wants you to make the best decisions along the way. He can be reached by calling 678 226 7887. We're going to take a quick break. When we come back, five things. All tenants should be aware of to avoid landlord trouble. Stick with us. We've got those subjects, we've got those subjects and more. We'll be back.