Spring Market. Where Are We Today?
Spring Real Estate 2021
The spring 2021 market is here! Sellers are putting the finishing touches on home improvements and buyers are knocking down doors eagerly searching for their next dream home. A year into the pandemic and home prices continue to increase at an incredibly fast pace across the North Atlanta area. Consumers are asking what is going on in the market and is it sustainable?
North Atlanta is still seeing stagnant inventory, especially in our areas. In North Alpharetta and Forsyth County, housing inventory is down an average of 65.3% year-to-date while home appreciation is up 14.3%! The median sales price in Forsyth County ticked up again in March to almost $420,000 and in the North Alpharetta pockets the median sales price climbed to $537,000 according to InfoSparks – FMLS.
Buyer and Sellers
Potential buyers are facing new challenges as home prices rise at a break-neck pace but find relief with interest rates still extremely low. Little supply of homes for sale has fueled the challenge of find a home but that could soon change.
Sellers are seeing incredible gains in wealth as they watch their home equity building. With such little competition, home with less desirable features and outdated design aren’t staying on the market long with the median days on market less than 30 days.
The housing market that picked up the pace at the end of 2020 has undoubtedly spilled over into the spring 2021 market. The market has remained robust, but with potential sellers ready to place the for-sale sign in the yard, inventory is predicted to rise which will slow the pace of sales and bring home appreciation to a “normal” pace.
Making the Move
Whether you’re buying or selling, there has never been a better time than now to make your next real estate move. Our team is prepared and ready to help you navigate through the historical market we’re in. Contact us today and let us help you make your move! Cell: 770-616-1110 Office: 770-889-6090