This Month in Real Estate -July 2016

Posted

Home Prices in Metro Atlanta for July 2016

Real estate market data for Metro Atlanta provided by Keyana Lawson of Keyana Lawson & Associates Real Estate Services, LLC | KW Realty Metro Atlanta

Metro Atlanta Home Prices

We have seen 8 straight months of listing price increases on home prices in Metro Atlanta and don’t expect things to slow down anytime soon. If you are considering buying a home you can still find deals on a house in Metro Atlanta but having a good real estate agent who understands the market is a must. Don’t wait on the sidelines for too long, many of our listings are starting to sell within a few days of hitting the market. As you can see from the graph below, listings are not selling exactly for asking price. To make sure you don’t overpay for your home, you’ll want to have an agent that does a thorough market analysis of the home on which you are making an offer.

If you are interested in how much current inventory is on the market in Metro Atlanta you can find that information by clicking on the link. High inventory will suggest that homes are sitting on the market for longer. Currently in the Metro Atlanta area, homes have a median time of 28 days on the market before they sell. This would suggest that sellers are in a great position to receive multiple offers that will likely exceed list price. Buyers should make sure to submit offers that are at market value or higher if they expect to win the offer game. Low inventory in Metro Atlanta has multiple offers coming in on homes similar to what we saw back in 2007. I wouldn’t expect home prices to run up quite as fast as they did back then as banks have gotten a lot stricter on lending guidelines and are no longer giving a loan to anyone with a pulse. But low inventory is one indicator that prices should continue to rise.


Metro Atlanta Real Estate Report Summary

The median list price in July for single family homes in Metro Atlanta was $260,908. The list prices increased by 1.9% from the previous month.

The median sale price in July for single family homes is $255,000. The sale prices increased by 2.8% from the previous month.

Find Homes for Sale in Metro Atlanta

Visit my website to search for homes in Metro Atlanta or to be notified when Metro Atlanta homes come on the market.

To find out what your home is worth in the current market fill out this form to request your FREE home evaluation or call 404-272-7628.