Atlanta Real Estate Market Update
This year, the spring selling season has kicked off with an early, energetic start. Sales associates are reporting increased showings at open houses, multiple offers on properties and offers above asking price - often within weeks or days . The market now favors sellers, making buyers anxious to take advantage of low interest rates and lower prices before they rise.Data provided by the First Multiple Listing Service* illustrates that inventory levels are down. Total inventory of properties for sale in April 2013 was 12,310 down 32.8% from 18,312 in April 2012. This lack of supply has created pent up demand for properly priced homes, in the right location and or school district. An increase in demand and decrease in supply is slowly pushing prices upwards in several Atlanta submarkets. According to FMLS, the average sales price in April 2013 was $257,575, up 36.1% from $189,229 in April 2012. Here are a few tips for both buyers and sellers that should make the process...