Atlanta Area Real Estate Market Overview

Atlanta Area Real Estate Market Overview

Real Estate bargains abound in the Metro Atlanta area. But buyer and seller be warned: navigating this post-bubble real estate market requires in depth knowledge and expertise as well as a strong constitution that can weather a sometimes stormy selling and buying process.

It’s a new day in Atlanta real estate, and old methods don’t always work in the new market. Despite the recent slowing of new foreclosures entering the market, there are still many months of inventory available in most Atlanta area neighborhoods. And with 35% percent of Georgia mortgage holders now owing more than their properties are worth on the current market, many would-be sellers are choosing to hold off until selling conditions are better. For those who must sell now, the most successful are those with plenty of equity in the home or those offering their properties for short sale.

Average Atlanta home sale prices within a 15-mile radius of downtown Atlanta have recently been trending slightly upward. That’s a good sign for sellers.

Conversely, new inventory coming on the market has trended slightly downward. This is also good news for those who must sell now. The competition is thinning, if only slightly.

But even in a distressed home sales market, homes must be priced right and in appropriate condition to attract a buyer. And buyers are a little more scarce this year than last year, partly due to the disappearance of the home buyers'  tax credit, but also due to continuing economic uncertainty on one hand, and increasingly stringent lender guidelines on the other. Taken together, these factors make for a challenging real estate environment.

Atlanta is a metro comprised of many diverse neighborhoods and lifestyles. If you need to buy or sell now, make sure you have a qualified, experienced real estate professional on your side, who knows the ins and outs of your area, and who knows how to get the job done in a distressed real estate market.