Everyone wants to know what is going on with housing prices and when is the best time to sell. Although we don’t have a crystal ball with all the answers, several indicators suggest that now is the time to secure an attractive price and sell your existing home quickly so you can build the home you’ve always dreamed of.
- Strong Resale Prices: 17% of resale homes are currently selling above list price. That’s up 14% from three years ago and beats the historical average of 10% (since 2010).
- Low Supply: Given the high demand for homes in the Atlanta market, the current inventory of homes would sell out in 2.9 months. This is far below the historical average of 5.9 months (since 2007). Quite simply, there is not enough supply to meet the current demand.
- All-time Low Days on Market (DOM): Homes currently take an average of 54 days on the market to sell. This is the lowest DOM since 2010.
Combine these stats with the fact that Atlanta is one of the highest new jobs growth markets and you’ve got good evidence that now is the time to achieve maximum value from your existing home sale. Get started today with our New Home Specialist.
Source: John Burns Real Estate Consulting