As we approach the end of the summer, the Atlanta real estate market continues to favor sellers. Sale prices have continued to increase, days on market is at a record low, and the active inventory of homes for sale is still relatively low. More sellers are looking to cash in on the increase in their home’s value, and the increase in new listings has yet to overtake the demand from buyers. If demand continues to outweigh supply, the seller’s market will likely persist.
Oddly enough, pending home sales remain abnormally high, despite the lack of inventory for sale. Normally, the abundance of pending sales would result in a much higher number of closed sales, but that wasn't the case. Although the number of closed sales has rebounded from drops in previous months, they’re still not where they should be based on pending sale data. I believe the pressure on buyers to win bidding wars, along with the unrealistic time frames negotiated in many contracts, have caused countless deals to fall apart; hurting both buyers and sellers.
Metro Atlanta Housing Trends
Whether you’re moving across the city or across the country, researching your ideal location is a vital component that many homebuyers overlook. Imagine finding your dream home, but come move-in day you realize that your new home is 20 miles away from your favorite grocery store. Or think of bringing your family into a high crime area, or being an outdoorsy person whose new home is nowhere near any parks or trails.
Valuable Apps & Websites For Buyers
Buying a new home is far more than just four walls and a roof. The following websites are excellent resources, whether you’re ensuring that your new neighborhood is in a top-rated school district or within walking distance to popular restaurants.
Arguably one of the most popular social website, Foursquare features user reviews of local restaurants, retail establishments, and other city-specific attractions. Many of these companies provide discounts when a potential customer checks into their location on the mobile app. Around 50 million people use Foursquare and its sister company, Swarm, each month, and platforms include desktop, mobile web, and mobile apps.
Street Advisor, literally, allows you to “discover and explore the best places to live.” Users can search a specific place or browse different cities and neighborhoods, and with search options including type of people,...