Overall, it is not a Buyer’s market for residential real estate in Atlanta. Heery Brothers thinks of a buyer’s market as conditions where purchasers have the leverage to negotiate favorable price and terms. This is all property by property, but many buyers feel foiled by today’s market. Many experience scare inventory, lacking options and price exhaustion. Good news is this is starting to correct. We see signs of equilibrium. Let’s address the supply side.
Atlanta’s detached residential housing inventory:
- As of September 10, 2018, FMLS had 2,145 detached residential listings.
- 8 years ago, there where over 5,000 listings on the market.
- We started 2018 with just over 1,500 active detached residential listings. See below chart.
The same chart for the 6-county (Cobb, Cherokee, Dekalb, Gwinnett, Forsyth and Fulton), area shows significant increase in inventory.
At a national level, research obtained from our brokerage indicates market-wide inventory showed its first increase in three years. We foresee a moderate increase in existing home sales and this will be reflected by decelerating home price appreciation.
Please let us know how we can be of assistance with your next property search. Please click here to contact Neal or George.