The North Metro Atlanta real estate market continued its hot streak last month. Total homes sold and the average sale price increased over the same time last year. This sizzling market doesn't seem to show signs of stopping anytime soon, either.
According to the First Multiple Listing Service (FMLS), a total of 3142 homes were sold in the North Metro Atlanta area last month. That is a 1.8% increase from last year. It is also the highest number of homes sold during the month of September in the last seven years. Buyers of North Metro Atlanta homes paid anywhere from $7500 for a 3 bed/1 bath 1037 square foot home built in 1940 all the way up to $2,575,000 for a beautiful English Manor in historic Peachtree Heights.
The average sale price for a North Metro Atlanta home was $269,815. This was a 10.9% increase from September 2013. It is also the highest average sale price in the North Metro Atlanta real estate market since 2007. Well over one-third (36.7%) of the total homes sold in North Metro Atlanta last month were between $200,000 and $399,999. The list price to sale price ratio was 97% while 43% of the total homes sold in September 2014 went under contract within 30 days of being placed on the market.
This is all great news for a North Metro Atlanta home Seller. Prices and demand are up. If you price your home appropriately for the current market, you will be getting more money for it than you would have at the same time last year. That doesn't mean that North Metro Atlanta Buyers will pay more than it's worth, though. Buyers need to do a bit of homework, talk to their real estate agent and be prepared to come to the table with a firm offer. Contact your North Metro Atlanta REALTOR® when you are ready to buy or sell.