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July Metro Atlanta Real Estate Update

SoldWe just returned from a vacation to Andy’s favorite beach – Hilton Head Island, SC!

While I dream of a home on the gulf, no matter where we vacation I am always interested in the real estate market of our destination. I literally can’t escape real estate – must mean I made the right career choice. #passionate

So, what I typically find is that every real estate market is vastly different – even if only a few hours away. And, ATLANTA is truly one of the HOTTEST real estate markets since the turn-around of 2013.

Why is Atlanta HOTLANTA?
July Metro Atlanta Real Estate Update below…

  • 5.8% fewer homes are on the market this year
  • 4.7% more homes have sold this year
  • Foreclosures are almost nonexistent (making up only 1.8% of the Metro
    market)
  • Short sales are almost nonexistent (making up only 1.3% of the Metro
    market)
  • There is only a 2.8 months supply of listings (down 9.7% from last year)
    Remember, 6 months is a balanced market.
  • Original list price is up 5.4% over last year
  • Sales prices are 5.6% higher than last year
  • The “average” Atlanta agent is selling homes in 29 days for 97.4% of the
    original list price

 

Great news, right? Our real estate prices in Atlanta are incredibly favorable and we still have some of the most affordable housing for major metro markets in the country.

If you’ve been sitting on the sideline waiting for prices to come down or avoid a multiple offer situation, don’t delay! Interest rates are rising. And, for every 1% increase of the interest rate, it affects your affordability by 10%.

Ex. You can afford $300,000 now. Interest rates rise by 1% and you’ll only be able to afford a $270,000 home.

So, have I talked you in to getting off the fence? If so, REMEMBER we’re not your “average” agents. Our buyer specialists are finding homes for our clients before they ever hit the market. And, our listing specialist is garnering 99% of list price in 14 days on average! That’s beating the pants off the “average” Atlanta real estate agent! You don’t want an average house, an average child, or an average car. Well, you don’t want an average real estate agent either.

Call The Peters Company today to get an ABOVE–AVERAGE real estate experience. We’ll help you navigate HOTLANTA’s real estate market! 678-921-1470

Written by Lesley Peters

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