Timing can significantly impact the sale of your home. Before you list your property, let’s look at how metro Atlanta’s housing market performed over the month of June.
Home sales
When it comes to home sales, metro Atlanta’s real estate market experienced a dip with total sales at 5,671. This represents a decrease of almost 11 percent compared to total home sales recorded June 2017, which was 6,367.
Should this discourage you to sell your home? The short answer is no.
The dip in home sales does not automatically mean there is low demand for homes in the city. The decrease is simply caused by the fact that metro Atlanta’s housing supply is gradually leveling out. With lower inventory, it’s actually a great time to list your home.
Sales price
In fact, both median and average sales prices in metro Atlanta continue to inch up as the year progresses.
In June of this year, the median sales price for homes in metro Atlanta was recorded at $285,000, which is a 7.5 percent increase from last year’s figures. It should also be noted that the median sales price is the highest it has been this year.
As a home seller, this is good news for you–it means potential for positive gains should you decide to list your property soon. And with buyer interest still considerably strong in the market, experts say price growth will continue in the coming months.
So, should you list your home soon?
Yes, and there is little reason to do otherwise. Here are a couple of things that should convince you to list your property.
- Interest rates are still low. With mortgage credit expected to remain relatively low over the course of the year, buyers are more likely to explore their opportunities in the market.
- Demand remains quite high. Although metro Atlanta’s housing supply seems to be stabilizing, the inventory is still quite low. There are simply more buyers than homes available in the market, making metro Atlanta a seller’s market. This gives you plenty of room to make a profit, with home prices competitive and continuously rising.
One prime example of how well your listing can do in the market is 208 Superior Ave in Decatur, GA.
Built in 1935 and remodeled in 2010, this lovely Craftsman-style home built was listed for $995,000 in April this year. It features 5 bedrooms, 4 full baths, and plenty of space to live and entertain. The home was originally bought by its seller for $800,000 in 2015.
In three years, its market value increased by 25 percent and was finally sold over list price for $997,500 in June. 208 Superior Ave is not the only listing that underwent such a profitable sale, and this might be the outcome for your property in the next few months.
Sell your home with Natalie Gregory
When you are selling your property in such a hot and sought-after market, you need a professional by your side.
Natalie and her team of experienced realtors in atlanta are some of the leading real estate experts in the metro Atlanta area. Browse their website, or better yet, get in touch with Natalie today at 404-550-5113 or [email protected] for more details.
This market update contains data compiled by the Atlanta REALTORS® Association (ARA), with the report available here.