A review of the 1st qtr ’12 stats shows interesting developments in the Atlanta real estate market that home sellers need to be aware of. A combination of factors seems to be acting in unison, specifically impacting distressed properties. The low rates along with rising rents have brought fence sitters into the market, large and small investors have returned and REO asset managers and lenders appear to be acting a bit faster. The inventory of distressed properties is dropping across all price points, most noteably in the under 200K group. In fact, data shows that under 200K homes in Atlanta are now in a “seller’s market”, the advantage buyer’s enjoyed is over.
So what does this mean to the “average” home seller in Atlanta? A lot.
So the data shows that the overall inventory of listings has dropped over the last year. It also shows that distressed homes are in a “seller’s market” across all price points; buyers are still looking at them as much as conventional listings. Conventional listings have many advantages over distressed listings however unless accurately priced, buyers are unlikely to pay attention. The chart below highlights the importance of accurate pricing and the advantages that brings.
The market is always changing so understanding current market conditions is critical. Accurate pricing is also key and it’s what we do best, so when you want to know what your house is worth, contact us. We’ll look at it from both the sales side and the appraisal side.
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