Home prices in Atlanta have been rising steadily over the past two years. Why? The simple chart below tells the story…
Since July of 2008, total Active listings have dropped by 67.5%, while the total number of Sold listings has stayed relatively flat. So, while the perception is that there has been a dramatic increase of buyers in the market… the reality is that demand for buying a home has remained somewhat constant. It’s the diminishing supply that’s changed the collective psychology from a “”Buyer’s Market”” to a “”Seller’s Market”” (there’s probably no better example of this than see Candler Park, as noted in my post from last week). Simply put, you can’t reduce the available inventory of anything by 67.5% without seeing prices move.
If you’re thinking about buying a home, you’re going to need to be in it to win it. Period.
If you’re thinking about selling home, stop thinking and take action. Hard to imagine that inventory will remain this tight for long.
Source: Chartmaster Services Exclusively for Keller Williams. Fulton, Cobb, Dekalb, Gwinnett, Cherokee, Douglas, Paulding and Forsyth Counties. All detached homes (ie. no condominiums or townhomes).