What do buyers and sellers need to know about today’s real estate market? Let’s take a look at the latest statistics from our Atlanta market.
Selling your home? Get a home valuation.
Buying a home? Search the local MLS.
One of the most common questions people ask me is, “How’s the market?”
To tell the truth, this answer really depends on whether you’re a buyer or seller. Right now, we are in an extreme seller’s market.
What this means is that we currently have less than six months of inventory. As you may already know, inventory is what determines whether we’re in a buyer’s market or a seller’s market.
We have about 2.7 months of inventory available on our market today. This means that if no more homes came on the market in that amount of time, we would run out of listings.
"Buyers today need to know what they want and strike while the iron is hot."
We had about 11,000 homes on the market in February of last year, and now we have about 9,800. So, inventory has definitely decreased, and the law of supply and demand is what truly drives our market. As supply goes down, demand goes up.
Back in 2009, during the height of the buyer’s market, there were 3,100 homes available. Now, we’ve got less than a third of that supply, making it harder for buyers to win.
Nevertheless, buyers can still get a great deal if they use the right strategy. Buyers need to know what they want and strike while the iron is hot. My team and I would love to help you with your home sale or home purchase needs.
If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.
