-This is a transcript from Go Gaddis Radio to listen to the episode click here-> https://on.soundcloud.com/UJH4W
Welcome back to another week's edition of Go Gaddis Real Estate Radio, right here on AM nine 20, the answer. My name is Cle Gaddis and I'm joined in the studio. By the one by the only. Tammy Slay. Hello, please, how are you today? I am doing great, thank you. This is two weeks in a row. You've been on the show with me.
Yes. Tired of me yet. No, and I think people enjoy it even more when you are here, so I appreciate you helping me carry the load for the radio show. You're always a wealth of information. In this first segment, we've got the Metro Atlanta Real Estate update for the month of March. Mm-hmm. And for year to date in 2023.
And are something you should know about Atlanta. We've got, I fly Atlanta. Have you ever been skydiving at an I Fly facility? I have not. I have one near me, but I have not done it. We did a team event at, I Fly Atlanta sometime two or three years ago. Yeah. And it was a blast. And then, Have you ever heard of the three Peas of Curb Appeal?
I have. You have? Yeah. Just a second ago. I Okay. From me. From from you. I've never heard of the three Peas of Curb Appeal before. My name is Cleve Gaddis and you're listening to Go Gaddis Real Estate Radio, where we help listeners go from real estate novices to experts to home selling and buying can be done with total confidence really without all the worry that is so typical with life's biggest investments.
And we want to connect with you. I do, Tammy does everybody at Modern Traditions Realty Group, which is my firm right here in metro Atlanta. We all want to connect with you. We want to help you buy a sell or invest in property anywhere in metro Atlanta. Yeah. And we want to use our experience. You know, Tammy, my family has been in real estate for 37 years, so we sort of live, breathe, eat, and sleep real estate, and we want to put that experience to use for you.
To connect with us, go to go gaddi radio.com. Again, questions, comments, you can push back, you can share your ideas request. We feature your neighborhood in our neighborhood spotlight, and you can subscribe to our podcast Without further delay, let's jump into the Metro Atlanta market update for the month of March 1st.
All right, we're 5,462. Closings in March of 2023, which is a decrease Tammy of 34%. That's still a pretty hefty decrease. There were one 1,236 single family attached that's condos and townhomes, which is a decrease of 26% over March of 2022. The average sales price for a single family detached home, again, that's not, the condos in the townhomes was 470,414, which is up 6.5% over the same month last year.
So prices are still moving in the right direction. Average sales price for a condo or a townhome 378,000, which is an increase of 2.4%. Remember we talked to Tammy about there being more inventory? Mm-hmm. Much more inventory in the condos and townhomes market than in the single family detox. Mm-hmm.
Let's take a look at year to date, 12,903 single family detached closings, which is a decrease of 35% over the first quarter of 2022. Nearly 3000 condos and town homes sold in the first quarter, which is a, uh, decrease of 30% over the same quarter of 2022. Average sales price, year to date, 450 3007 19 compared to 424,000 the prior year, which is an increase of 7% condos and town homes.
Average sales price, year to date, 370. 2007 61, which is an increase of 4%. But I do want to point out that price increases are continuing. So if your average sales price of a condo and townhome was 372,000 for the first three months, but 3 78 in that third month, you can see how that third month is continuing to pull prices up.
Single family detached, 474,000 for 470,000 for the month. 453,000 a year to date, so prices are still moving up very nicely. Active inventory for single family detached homes has increased in 9,690 listings. Tammy has been many, many a year since we that many active listings in metro Atlanta. We have 65% more inventory right now than we had this time last year.
Wow. In the condos and town homes, we have 2072 currently listed. Which is an increase. And when I tell you this, Tammy, you are going to probably fall off of your stool. It is an increase of 112%. Oh, we have double now. Last year, the number of condos and town homes we had available for sale on the market.
It was anemic. It was so, so bad. I believe up 112%. It's really amazing what can happen in a real estate market. Am am I right? Oh, you're right. And, and we've talked about this before, this trend, um, that's on the rise of condos and town homes. Yep. Well, I mean, you and I looked at a lot of town homes. We have not condos, the town homes.
Yeah. I love the. Lock the door. Hit the road. Yes. Come back. Everything's taken care of inside, outside. I lived in a town home the last year and a half, which was amazing. Oh, it was a beautiful town home. Thank you. It was little, almost detached garage. I know it wasn't detached, but it looked like it was. It was really, it was really a cool place.
There were 10,900 new listings that entered the listing service in the month of March. Compared to 12,274 in the prior year. I do believe if you're a home buyer, there are a lot more opportunities out there for you right now today than there were this time last year. And I believe if you are a home seller, you should not be worried about the increased inventory because inventory is still very low.
We have just a little over two months worth of inventory in metro Atlanta at one time. Tammy. As we came out of the pandemic, we had two weeks worth of inventory. This is a big, big difference today. Let's go into, or here's something you should know about Metro Atlanta. I fly Atlanta located on Cobb Parkway, basically right there at the battery home of the Atlanta Braves.
You've been? Yeah. To watch the Atlanta Braves play. So when we got off of 2 85, we drove right past, I fly Atlanta. Now you said. You've never done it right. My question for you, on the air in front of every single listener, who is gonna remember what you say? Would you be willing to try it? Are you asking me on a date?
Ooh, okay. Yes, yes, yes. Did, did the listeners, listener's note, recognize how. Slightly. I entered just, okay, so let's say, take me on a date, Claire. Let's say I want to take you on a date and we want to go to I Fly Atlanta. Yes. You would do it? Yes. Awesome. Yes. Awesome. I thought it was a lot of fun. Now I did feel a little goofy, uh, that time.
I was a little heavier than I am today and I felt like the Pillsbury Dough boy. Flying up in the air, air in this wind iit, but it was really cool. So they help you get out there and then you're, they, they say that the wind turbines, the wind blows at 185 miles an hour Wow. In this cylinder, if you will.
And they teach you how to move your hands and go up and down and go left and right. And they teach you. And in many cases, in fact, in all of the cases on our team, like everybody figured out how to do it. Like they were all out there just having an absolute blast. So I recommend you look up. I fly Atlanta, schedule a time, go out and take a look and take a date with you.
Absolutely. If you've just joined us, you're listening to Go Gaddis Real Estate Radio right here on AM nine 20. The Answer. I'm Cleve Gaddis and I'm joined in the studio by my girlfriend, who is also a real estate broker from Dallas, Texas, Frisco, Texas. To be specific. You're looking to sell your home anytime in the next six months, we believe we can sell your home for $28,000 more than your neighbor.
If you don't believe me, then I say try me. Go to go Gadi Real Estate Radio. Go to go gaddis radio.com. Click on sell for $28,000 more. Put in a little bit of information and we'll help you understand all the different ways you can sell your house, selling it for cash, buying a new home before you sell your existing home.
Improving your home to get the most market value or selling it at whatever its current market value is. And if you don't believe me, try me. It comes with up to a $15,000 allowance budget to make cosmetic improvements to your home to make sure you sell it for as much as you possibly can. 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 home buyer step by step through the entire loan process so they are educated and confident in the mortgage options available and can make the best decisions along the way. Tammy, you've met John. What do you think about John Birchfield? Well, I think he's a great guy.
He's a smart guy. He is, yes. And he's all about helping people make the right decisions. Yeah. Les John, jump into the four Ps. Three. The three peas, sorry, of curb appeal. I can make up a fourth P. The three peas of curb appeal. Did you know, Tammy, that homes with high curb appeal tend to sell for an average of 7% more than similar houses with a less than inviting exterior?
I believe it. Um, in fact, my comment to that paragraph is, Duh. Well, I was wondering why you were asking me if I knew it. Duh. Yes. For sellers, making sure your home makes a good first impression with potential buyers before they even walk in the door can be sometimes challenging. And we, uh, to help you solve that problem, we've got three tips for you and it, they are the three Ps of curb appeal.
They are paint plant. And power wash or pressure wash. Mm-hmm. So let's talk about that, Tammy. What good can giving the front of a home or the entire home, don't just paint the front, right? What good can, can giving a what, what, how, how can that help us? A seller sell? We've got about a little over a minute left in the segment.
Um, I mean, I'm gonna say the duh, but yes, the paint, the plant. I mean, just freshen it up, make it clean, sharp, clean it like someone cared about it. I'm not worried about, oh gosh, what else am I gonna see in here? Yeah, why does the seller not care? I mean, you know, the feeling of walking into someplace and.
Just being disgusted by it. Yep. Yep. The next one is plant. It says Go green. But I think what it really means is that the plants on the front of the home need to be inviting. Sometimes there's too many. Mm-hmm. And you need to cut 'em down. Mm-hmm. Or remove some of them. And the last one is power wash.
Mm-hmm. Um, as you walk around, you notice spiderwebs mm-hmm. More than anybody I've ever seen. Yes. And in Atlanta, there can be spiderwebs all over the house. You do not want that. You want the houses to be clean. Mm-hmm. And you also want your windows to be clean on the front of the home or throughout the entire home as well.
We're gonna take a quick break, Tammy, you'll stick with us for the second segment and third and fourth. Oh. When we come back, how do you make sure your agent, if you're a seller, is motivated just like you? And should you have your home inspected before you list it? Is that a good idea or not? Stick with us.
We'll be back.