I’m consistently hearing a couple of things from my friends and clients, both buying and selling: “I missed my chance to get a great price for my home!” and “Everything is so high right now – I’m going to wait it out before I buy.” I’m here to tell you – the market is HOT and not cooling down. If you have a home to list, buyers are still paying top dollar. If you’re looking to buy, you’re only going to see prices get higher. And here’s why!
The demand for homes has not gone down – in fact, it is only increasing. Did you know an estimated 500 people move to the Atlanta area every day? The Atlanta Regional Commission predicts Atlanta’s population to hit 8 million in under 20 years. People are flocking to Atlanta for a variety of reasons. Even in this market, median home costs are still lower than the national average. Job opportunities are also pushing people here, as nine major Fortune 500 companies have their headquarters here. Easy access to art, history, nightlife, and culture makes the entire metro Atlanta area appealing to out-of-towners and Georgia natives alike.
Ok, so what does this mean for you? If you’ve had any thoughts about selling your house, then please hear me when I say now is the time to sell! The inventory is still tragically low compared to the demand. For you, that’s incredible news! Buyers feel pressure to bid competitively and overlook flaws that would have been haggling points a few years ago. I consistently have more buyers than homes available! Another perk of selling in this current market is the Sales-to-List Price Ratio is hovering at 100%, which means that sellers usually receive their exact listing price. This is the ideal time to list. In fact, the average time a house spends on the market right now is only 6 days!
Now, if you’re looking to buy, you may be thinking, “Why would I buy right now after reading all of that?!?” Well, the good news is that for a bit, buyers were previously paying multiple percentages OVER listing price – so this is a better time to buy that some recent months. However, the market shows no signs of slowing down. With the rapid rate of expansion in all metro Atlanta (especially the small towns like Monroe) and insanely low inventory, the market will continue to be under-supplied. Additionally, interest rates are at a record low right now, and some predictions forecast an increase in the near future. You’d be surprised how much those small interest points add up over the years in your mortgage! Also, if you have a home to sell to help fund your move, I can help you get top dollar for your existing home NOW.
Ok, you get that there is no time like the present. But why use me as your agent? I’m sure your social media is full of old neighbors and classmates who have suddenly joined the “Lifestyle of the Young and Real Estate”. It’s not just your friends – the realtors’ groups are showing increased membership numbers across the boards. However! If you were to ask all these new agents about their success, training, and client satisfaction, you’d be very surprised. I’ve been in real estate for more than ten years and have the skills and experience to help you, whatever your situation is. Maybe you scoffed at my quote of homes only lasting for six days on the market because yours just won’t move. Let me take a look at it!
In conclusion, there’s no better time to buy OR sell than now. One last thing I’ll mention is the ever-present fear of, “Will we see a market crash like 2008?” Now of course I am no economist, but I firmly believe this is not the case. In this market, it is being said that people are actually able to afford the mortgages they are being approved for. Also, many people are selling their current home, then using their equity and profit towards their upgraded dream home. All this contributes to a more stable market and less of a “bubble” like we saw in 2008. I hope this adds a small sense of ease.
I’d love to hear your thoughts about all this. Drop me a comment or text/call me at 678-410-6270.