Atlanta Has A Housing Shortage! It’s a Seller’s Market
Are you Looking to Buy a Home in Atlanta and Can’t Find One? Well, that is because Atlanta has a housing shortage! It’s a Seller’s Market in most areas and price points in the Metro Atlanta Area.
Having a shortage of homes on the market creates higher competition for the most desirable homes on the market. Bidding wars for these homes creates a huge edge for a Seller in this market!
Some driving factors of Bidding Wars in a Seller’s Market are:
- Low Inventory
- Location of the Property
- Condition of the Home
- School District
In the real estate business it is a price, location and beauty contest! If you have a home that is priced right, is well maintained and shows well, and is in a desirable location you will see a lot bidding wars for these homes and they will fly off the market!
For a Seller this is great news! If you are thinking about Selling your home, now is the time to do it!
As a home Buyer in a Seller’s market with a shortage of homes you will find it challenging to find a home, and will most likely find yourself in a competitive multiple offer bid situation for the home you want! Again, this is because Atlanta has a shortage of homes on the market! Now more than ever, it is so important for Buyers to be pre-approved for a mortgage and work with a dedicated and reputable Realtor that lives, breathes, and knows the market that you are looking in. You want a Realtor that is full time, full service and that will create a home buying strategy for you before you even start the home buying process. In this market you need a strategy to give you and edge!
According to a recent article posted on AJC.com, Atlanta’s Home Shortage is one of the worst in the country. Here is a look by county how the inventory of homes has decreased in the Metro Atlanta market from May 2015- May 2016:
- Cobb: DOWN 16.94%
- Gwinnett: DOWN 21.84%
- Cherokee: DOWN 18.41%
- DeKalb: DOWN 11.41%
- Paulding: DOWN 25.49%
- Fulton: DOWN 4.55 %
Forsyth County is the only one where inventory has gone UP by 2.46%.
Source: AJC.com, Georgia Multiple Listing Service, Virgent Realty- read more here
So, if you are thinking about Selling, this is the time to sell! Atlanta has a Housing shortage! It’s a Seller’s market! Find out how The Cowan Connection Team can net you the most amount of money for your home! Find out what your home is worth here!