I can't tell you how many times I get the question, when is the market turning around? I would have to tell you that we are seeing a very different shift in the market Now in ATLANTA! Inventory is surprisingly low, I know it's hard to believe. I can tell you a quick story about a new listing that I obtained. I hadn't even gotten the listing paperwork signed, but as I promised my seller I would call around to all the agents that I knew to see if they had a buyer. Sure enough I found a great agent who listed and sold in the ATLANTA area. She recently had a buyer that attempted to buy her listing but fell short. WE immediately arranged a one time showing agreement with the seller and agent and the very next day and BOOM an offer was made and we are now under contract and set to close the end of this month. This happens so frequently now and buyers are really having a tough time understanding this shifting market.
Another measure of the rising market is that there are more new construction permit applications and they are steadily increasing. In fact, permits exceeded closings in November 2012 for the first tim since 2008. Investors are scrabbling to find investment properties and the last of the bank-owned values.
The Atlanta Market saw a 29% increase in sales volume in Deceber 2012 over the previous year, leaving Atlanta inventory as it's lowest at it's lowest since 1993. There is less than 90 days of supply in the market.
So here are a few key points to remember NOW! It's a SELLERS market below $500,000 and it's Still a BUYERS market above $500,000
If you are currently thinking about or even questioning if it's a good time to sell, please contact me ASAP. I need more inventory and I can give you an idea of how the market is doing in your area. Please log onto www.Forsythhomefinder.com to connect with Tana Brewster or call my cell: 770-378-0394.
Tana Brewster - Your Savvy Atlantan
Realtor®, Associate Broker & ABR®
Alpharetta, GA 30022