Over 2,000 sales in March!
The increase in number of homes sold is good news for sellers, while the increase in new listings is good for buyers as it means that there are some fresh listings to now choose from.
An interesting number that I saw when I ran these numbers was that approximately 49% of the homes that did sell last month were foreclosures or corporate owned houses. Some may gasp when they see that number because it is much higher than we see normally in Atlanta, but this can be interpreted in a number of positive ways too. One interpretation is that while our market is littered with a large amount of foreclosed properties…they ARE selling which is what needs to happen in order for our market to regain its health. Homeowners that are selling right now have to compete with the relatively low prices that you often see with foreclosures in their neighborhoods, and in order for sellers to see prices start to go back up, we need to get rid of these foreclosures, and the only way to get rid of foreclosures is to sell them…taking foreclosures off the market because they won’t sell at the right price is not an option for banks like it is for some homeowners.
It also indicates that there are indeed more buyers out there who are willing and able to buy homes. These buyers are getting some great deals in this market, be it by buying foreclosures or any other homes that are competitively priced. It seems like some of the fear that has gripped home-buyers is starting to dwindle and more buyers are growing tired of waiting and are even feeling a sense of urgency that although this housing market is not necessarily on a steady rebound, they don’t want to miss the bottom of this market which many real estate professionals including myself feel that we are bouncing along right now.
If you or anyone you know is thinking about buying or selling anytime soon, I’d love the opportunity to sit down with you and explain how I can help you.
If you know anyone who is thinking about listing their house or buying a house…or both, please have them Contact Me. I’m never too busy for any of your referrals!
Please keep in mind that these numbers are based on Single Family Residences in the city of Atlanta, North Fulton, Cobb, Dekalb and Gwinnett counties which is where I specialize. Figures do not include the more rural counties of the Metro area or those counties South of the city. When making a decision to buy, sell or lease real estate, you should look at your specific neighborhood and surrounding areas. For more specific information on your neighborhood, please call me or email me. Information is deemed reliable but is not guaranteed.
