More Buyers than Atlanta Homes for Sale, Asking Prices Increase
Statistics show that the buyers around Metro Atlanta outnumber the homes listed for sale. The number of Atlanta homes for sale fell by 18.75% since January, according to this AJC article. This limited inventory is quickly causing prices to increase over 2016.
Studies also show that a number of homes in Atlanta are still underwater, meaning the homeowner owes more on the property that the property is actually worth. This low demand will cause prices to increase, which will benefit these property owners if they are ready to sell.
First-time home buyers are searching for properties to take advantage of interest rates that are still at or below 4% for 30-year mortgages. There are several popular areas for these shoppers. Top markets include Smyrna, Chamblee, Cumming, and Alpharetta. The strongest being Alpharetta with a median home price of over $384,000.
If you are ready to take advantage of this seller’s market and list your home, Clickit Realty can save you thousands on commissions. Contact us or visit our packages page to start your listing.