North Atlanta Early Summer Housing Trends
How is the housing market doing in light of everything that’s been going on?
We are hearing this question from our clients and friends on a daily basis.
As we’ve mentioned in our recent posts, we encouraged all of our clients that were planning to sell over the next 12-24 months to do so immediately if they could. Our daily reads on the market showed that there was strong Buyer demand even as the COVID pandemic and news were hitting the public this Spring.
Our analysis and recommendation paid off for our clients and over the last 60-days we were able to get 9 homes sold for an average of $167 per square foot, 100% of list price and they went Under Contract within 26 days. We also saw 5 more listings go Under Contract and the performance metrics are well above the market average!
The chart below shows that new Active listings in Metro Atlanta are starting to come back to last year’s levels vs. the reduction we saw in March and April. We believe a lack of supply helped Sellers get their homes Under Contract and for top dollar over the past 2 months. One question to consider is… what will happen when all of the homeowners that delayed selling now go to list the near future?
Early insights into closings for May for Metro Atlanta (see chart below) show they are down over 30% compared to last year. We are hopeful that this is a temporary lull and not the start of a downward trend.
As of today, we’re still in a Sellers’ market in North Atlanta. Rates are low and many of our clients have taken advantage of our free Pre-Listing Concierge program to achieve above market performance in not only price but all other key metrics!
We are always here to help our clients and neighbors navigate todays housing market! For more information call Robin at 678-665-0202.