Zip Code 30033 Real Estate Market Statistics
Real Estate Market Statistics for zipe code 30033 updated weekly by Altos Research
Sally English, Associate Broker, Realty Associates of Atlanta LLC. Call or text Sally English 404.229.2995 with your real estate questions. Sally has assisted many Decatur, Ga home buyers and home sellers in zip code 30033
“Inventory” is simply real estate lingo for “the number of homes for sale.” This stat shows you how much supply is available in the market you are researching. Inventory levels can ebb and flow frequently due to seasonal effects. There’s usually more inventory on the market in the spring-time as the natural rate of real estate activity picks up during this time of year. Alternately, there’s generally less inventory in the Fall or Winter as real estate activity slows.
Price Per Square foot:
Price per Square Foot is a measure of value. Think of this stat as answering the question – “How much house am I getting for my money?”
Median is the midpoint between high and low. Median is not the same as Average.
The real estate industry generally uses “Median Price” instead of “Average Price”.
Because a couple of high-end or low-end properties in a single zip code or city can skew the Average Price pretty quickly, using Median gives a more accurate depiction of local price levels.
Median Price is often a very good proxy for indicating real-time market activity.
Sellers in a market, with the help of their local real estate agent, will price their home according to other similar homes in that market. While this isn’t a perfect science, most agents and sellers tend to price their homes in close to the price where it will eventually sell. As the median price changes, this can indicate a couple of key market movements:
1. A rise in median price means that sellers are responding to more sales in their local area which means that the local market might be “strengthening” or getting “hotter” – favoring sellers, so they will ask more for their home. A fall in the median price might indicate the opposite – few homes selling at the current price levels which causes homes on the market to drop their price and for new homes on the market to price more aggressively.
2. A rise in median price could also mean that homes at the lower part of the market are selling and leaving the market. This means that the remaining homes on the market are at a higher price point, which causes the aggregated median price to rise.
Market Action Index Definition (MAI)
MAI: We developed the MAI so you immediately know if it’s a Buyer’s or Seller’s market.
30+ indicates a Sellers market.
The Market Action Index (MAI) illustrates the balance between supply and demand using a statistical function of the current rate of sale versus current inventory. An MAI value greater than 30 typically indicates a “Seller’s Market” (a.k.a. “Hot Market”) because demand is high enough to quickly absorb available supply. A hot market will typically cause prices to rise. MAI values below 30 indicate a “Buyer’s Market” (a.k.a. “Cold Market”) where the inventory of already-listed homes is sufficient to last several months at the current rate of sales. A cold market will typically cause prices to fall.”
Keep in mind that an MAI value close to “30” probably means that the local market is balanced or neutral. So if the MAI for your local market is somewhere between 27-33, then it’s likely to be either a buyer’s market or seller’s market based on the individual street or home area that a particular property is in.
Are you thinking of selling a home in the 30033 zip code? Call or text Sally now at 404.229.2995 to request a free market analysis of your home. Our real time stats help you see where the market is going and make a solid decision about the sale of your home.
Sally’s Decatur office at Realty Associates of Atlanta is located on South Candler Ave in Decatur zip code 30033. Look for Sally at her favorite zip code 30033 neighborhood restaurants including Brick Store Pub, Cakes and Ale, Iberian Pig and more. Zip code 30033 housing offers great value and a convenient commute to Emory University and CDC.