Metro Atlanta Real Estate Market Stats - April 2017 - Jill Heineck — Heineck & Co.

You can always count on Heineck & Company to keep you updated on what’s happening in the local Metro Atlanta real estate market and while our tracked and published market stats are typically a month behind, they remain relevant to both the purchase and sale of property in the market today.

Below are a few key findings from the latest Georgia REALTORS market report:

The median sales price increased 7.0 percent to $200,000
The number of days on the market decreased 15.7 percent to 59 days
The months supply of inventory decreased 23.9 percent to a 3.5 month supply
New listings decreased 7.5 percent to 15,364
Pending sales were up 3.8 percent to 12,331
Inventory levels decreased 15.8 percent to 35,749

For buyers, these findings all point to the fact that competition is still present and in fact, continuing to build as the spring market progresses. Demand is not expected to slow any time in the near future, so Metro Atlanta buyers can expect to be up against others when bidding on an available property. In terms of pricing, buyers will notice home prices rising despite the strong demand.

Sellers should be encouraged in today’s market as inventory continues to decrease— with strong buyer demand and a lack of homes for sale, the ball is in your court! Homes that are priced correctly and prepared to show well put themselves in a great position to sell both quickly and oftentimes, above asking price. What’s more, the healthy state of the Metro Atlanta economy—including employment and wages—has contributed to this lucrative environment to sell and allowed more people to participate in both the buying and selling process.

For a better understanding of how these number may affect your decision to buy or sell, or how it may impact negotiations, contact Jill to discuss at 404-419-9157 or email jill@heineckandcompany.com.