It’s been a great year for real estate. Housing demand has increased significantly, mortgage rates have remained affordable, and the government has already started delivering on its promise of infrastructure development. According to Realtor.com, the number of active listings has increased from 1,343,000 in January 2017 to 1,582,842 in July 2017, which is indicative of a strong housing demand.
But has Atlanta managed to match the pace at which the national real estate industry is growing? Will it continue to progress at an unprecedented rate and offer more lucrative opportunities to both homebuyers and sellers?
Here’s a quick account of how Atlanta real estate market is expect to behave in fall 2017.
1. Sellers will be In the Housing Market’s Sweet Spot
Whether you are relocating for work to another state or you are looking to make a move into a larger home, the fall of 2017 should be a favorable time for you to enter the housing market and list your home for sale.
The Atlanta real estate market has experienced an 11 percent year-on-year increase in median listing price in the first half of 2017 and the trend is expected to continue for the remaining four months as well. So, you can expect to get a good return on your real estate investment. Just a small tip: prefer a higher offer over a quicker closing!
2. Buyers Will Face a Tight Market with Low Housing Supply and Intense Competition
If you are a first-time homebuyer or an individual looking to scale back, you are likely to face some trouble finding the home of your dreams this fall. A widening demand-supply gap resulting from limited housing supply and increasing real estate demand will cause you to face intense competition from rival homebuyers. However, flexibility will be the key to navigate through an intensely competitive landscape and find a cheap real estate deal.
If you are willing to move further from downtown Atlanta, you will be able to find some really good real estate deals at reasonable prices. In addition, investing in a home that requires a small roofing or kitchen upgrade should also help you save a significant sum of money.
What Does It All Mean To You?
Just like any other industry, Atlanta real estate market has been experiencing a major shift resulting from the evolving geopolitical situation, technological advancements, and changing needs of homebuyers and sellers. The most feasible way to conduct a profitable real estate transaction amidst such a dynamic and uncertain environment is to partner with a real estate agent who can help you find the home you are looking for at a price you can afford.
If you are willing to buy or sell a home in Atlanta and need an expert real estate agent to assist you throughout the process, you may contact me on my website. To get more tips about home buying and selling, you may also visit my blogs on Luther Ragsdale.com and Platinum Real Estate.