Being a player in the metro Atlanta housing market is like being a squirrel trying to cross the road. It is hard to know whether to dart across or stay put. But the important thing is not to go half way and stop, or the results may not be pleasant!
To help our clients make market decisions about optimal pricing and timing for the market, we put together this mid year market report.
Signs indicate the metro Atlanta real estate market is slowing down, with longer days on the market and a more balanced supply and demand, which causes prices to plateau. Only time will tell how much of this is the natural seasonal slowdown that occurs every fall, versus a more permanent trend.
Some experts believe our metro Atlanta market expanded too quickly, with greater appreciation than can be sustained, which can lead to prices flattening or going lower as the market resets to something more sustainable.
Year over year housing appreciation gains in metro Atlanta have been around 8%, significantly higher than the 4.9% market appreciation seen in the rest of the country.
Local Market Trends
Cherokee County is seeing longer days on market for current listings, and more price reductions than in previous months. The communities to the north are impacted the most. Waleska and Ball Ground in Cherokee, as well as Jasper in Pickens County have the longest days on the market in our north metro market area. Sometimes this trend causes sellers to give up, which Waleska is the only community where the number of listings has started decreasing.
Woodstock and Canton homes are seeing longer days on the market for listed properties, with price reductions as well, but at a more moderate level.
In the Cobb County cities of Kennesaw, Marietta and Smyrna, we are seeing more real estate home price adjustments, longer days on market, and a growing inventory.
Our North Fulton real estate market is tracking similar to Cobb and Cherokee, including the communities of Roswell and Alpharetta.
Buyer or Seller Advantage?
Currently, sellers have the edge in this local real estate market in the lower price points, below $300,000. In moderate price points from $300,000 to $500,000, the market is more balanced with a balance of buyers and sellers. Above $500,000, buyers often have the edge as the listing inventory is more saturated. Of course, each market area is unique.
To receive future updates as the market changes for your city, including the information in the chart above as well as additional data to track trends, see pathpost.com/reports and sign up for our real estate market updates.
For a quick estimate of your home’s value, visit pathpost.com/home-valuation.
If you would like to know exactly which homes are listing and selling in your neighborhood to track your home’s current value and future trends, email us at homes@pathpost.com.
