Rates are skyrocketing, prices are going down. Is the Atlanta Housing Market going to crash in 2022? Is this the worst time to buy a house, or could it be the best time? Watch this video to find out if now you missed your opportunity to buy a home or if now could be the perfect time to buy.
Are you moving to Atlanta and want to buy a home? Are you worried about recent rate hikes? Watch this video about the Atlanta Housing Market and find out why now may be a great time to buy.
https://youtu.be/s2aI5YeFqS8
Hey, this is Parker, your favorite Atlanta REALTOR. It has been a very busy few weeks for me in Atlanta, and we are definitely overdue for a new video! So, I wanted to share some quick on the ground updates about what’s going on in the Atlanta market right now. Let’s get going!
The last few weeks, I’ve had a bunch of buyers in town, and I have been all over Atlanta looking at houses. Everywhere from Midtown all the way up to Milton, Roswell, Sandy Springs, Alpharetta, and Lawrenceville. I’ve been everywhere – I can tell you right now, there are so many houses on the market in Atlanta, that have been waiting for a buyer. These are houses that have been on the market three, four, five weeks, and they’re just waiting for a good buyer. These are houses that last spring would have sold in one weekend with multiple offers. Now they’re on the market for a month, generating one offer!
So things have softened up considerably here. I’m definitely not going to say that it’s a buyer’s market by any stretch of the imagination, but it feels very balanced right now, and things are operating at a much more normal pace. So, for example, I was out with clients last week – we were looking in town, looking at city of Decatur, and we looked at five houses, and actually came away with three really good choices that were priced very reasonably – three excellent options out of five houses that we looked at. It’s very surprising, I mean it’s probably been 17 or 18 months since I’ve seen that kind of availability, and I’m seeing this trend everywhere. It’s not just in town, like I said, Sandy Springs, Roswell, Alpharetta, Lawrenceville – it’s everywhere!
So, if you got totally spooked by all the panic buying last spring, I can assure you that is over. It’s a much more normal market now. It’s brisk, it’s very busy, but it’s not out of control – like roller coaster careening down the tracks wheels about to fall off kind of insanity, which is what it was like in the spring.
So if you’re thinking of making the move to Atlanta, now is an excellent time to be looking. I always encourage people to look in the fall – it’s an excellent time to go out and pick up some bargains. If you’re in the market, as always my phone number is down below. Feel free to give me a call, and we’ll have some more video content out later this week – thanks!
BUYING A HOUSE IN ATLANTA? ATLANTA HOUSING MARKET 2021 – ATLANTA REAL ESTATE NEWS SUMMER 2021
Hey, this is Parker, your favorite Atlanta REALTOR, and I’m back with a quick update on the Atlanta housing market for August 2021. Let’s get going! Things are really starting to settle down here – there’s more inventory coming on to the market, and I expect to see more as we get into the fall, and people settle into their normal routines. I’ve got a couple of listings coming up – things are looking pretty good!
Buyer demand has also dropped in the last two months. It’s fairly normal for demand to fall in Atlanta during the summer, but what I think more importantly has happened, is that all of that excess demand – sort of the panic buying caused by Covid – has just kind of fizzled out. Houses are staying on the market longer, with fewer multiple offer situations, and a lot of the houses my team members have sold recently have just gotten one single offer. One good offer is all you need!
I’m also detecting some buyer pushback after the big run up in prices. You know, buyers have access to all of the pricing information, and if they go onto a listing, and they see that – okay, the owner just bought this house in 2019, and now it’s on the market for $250,000 more than they paid for it less than two years ago, it kind of leaves a bad taste in their mouth, and frankly, if buyers look at a house, and it the pricing just looks opportunistic, kind of like make me move type pricing, they just won’t even bother to look at it.
I’m also detecting a very slight downward price correction. We’ll obviously have to wait a couple of months to see what the true numbers are, but it feels like that’s what’s happening. If you’re in the under $300,000 first time home buyer bracket, you’re really still facing some challenges in the Atlanta market, especially if you want to live in town or somewhere inside the perimeter. But, it’s not nearly as desperate as it was just four months ago. Once you get into the $500,000 plus bracket, things are a lot more normal. Houses are sitting on the market, fewer multiple offer situations. Sometimes as I said – just a single offer to sell the house. It’s a much more normal market pace, and frankly, it’s a lot more pleasurable to work like this!
So, what does this all mean if you’re a buyer? To sum it all up: it means you have more choices and there’s less pressure to make a snap decision on a house. It’s not like you’re walking into a house thinking oh there’s 20 other people that are trying to get this house how am i going to get it? It’s a much calmer pace in the market and frankly it works better for all parties concerned, especially if you’re a buyer. So again, if you’re interested in moving to Atlanta, please look in the box down below get my phone number send me an email I’d love to talk to you thanks!
Hey this is Parker Smith – your favorite Atlanta realtor!
Here’s a quick Atlanta real estate market update for July 2021. I had a feeling at the end of May, beginning of June that the market was starting to loosen up a little bit. Additional inventory was coming on to the market, and indeed when i reviewed the numbers for June inventory was up 14. That’s huge!
So what does that mean for buyers? It means that the inventory crisis, which has been going on for over a year, has started to abate. And, this is very good news for buyers! Let’s take a quick look at some maps here that are going to illustrate this for you. This first map shows a two mile radius in North Decatur, a very popular in-town neighborhood, and this is the total number of houses that have sold in the last six months: 323. These are closed listings done deals – 323 houses.
What’s interesting is that today in the middle of July, there are almost 80 houses on the market in that exact same area. Let me show you – you can see on this map there’s almost 80 listings on the market, and what this means is that today alone, there is 25 of the total inventory that was available in the first half of the year on the market right now looking for a buyer. That’s a significant improvement. Here’s one more map that shows pending sales. These are homes that have cleared their due diligence, and are set to close typically in the next few weeks. This is another 60 houses, so if you add that to the 80 active listings, we get about 44 percent of the previous six months total either active or ready to close.
This is an incredible turnaround for the Atlanta real estate market, and it’s made things much more balanced for buyers. Homes are staying on the market longer with fewer bidding wars. I don’t want to say that the inventory problems are over because they certainly aren’t, but the end of covid has definitely made people a lot more comfortable having their house on the market, having strangers walking through their house.
It looks like prices are starting to stabilize, businesses are relocating their employees again, so all of this is a very positive development if you’re a buyer, and frankly it’s a positive development if you’re a seller as well. So if you were considering a move to Atlanta, but were frightened off by all the negative talk about the Atlanta market, I think you can put your fears to rest. Things are definitely getting back to normal, and it’s very nice to see kind of after the last year of total madness. As always, if you’re thinking about making the move to Atlanta please give me a call my number’s in the box below love to talk to you thanks!