Atlanta Home Sellers Must Adjust to the Balancing Market - Fall '24
Posted by Hank Miller on
As the Greater Atlanta real estate market continues to stabilize, Atlanta home sellers must adjust to the balancing market. The Fed mission of slowing the post pandemic nonsense was achieved; this market is largely balanced. Inventory challenges remain of course, but for sellers, it’s no longer “name your price”. While a few sellers in select areas maintain some sway, the majority will either listen to the market or see their homes sit. Don't be stubborn, the Greater Atlanta real estate market is returning to the more predictable, pre-pandemic patterns.
Atlanta Real Estate Inventory
- The spring/summer ’24 market saw the highest listing inventory in several years
- Homes going under contract were slightly below previous years
- Closed…
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despite poor communication, poor performance and they fail to hold their agent accountable. From inept data analysis, contractual gaffs, improper transaction management and things that you cannot imagine...hack agents cost their clients thousands.
occurred, values have not missed a beat. To be fair, the "metro Atlanta" region is far to large and diverse to paint with one brush. However, this data is useful in providing a good indicator of macro trends. Every submarket is different, as is every type and price point. Success is found by working with skilled professional agents, not some hobby hack agent with ten other side hustles. Below is a review of the six major metro counties and all price points.
estate industry experts"…all of them. Straight up gaslighting you. Telling you about dropping rates, dropping prices and increasing inventory. They're straight up BS'ing you.
About two years ago this month, Atlanta real estate and interest rates started a very complex relationship. The Fed slammed the brakes on low rates, and despite the initial wobble, the Atlanta real estate market found stability and firm ground. There was pain of course, many buyers were eliminated and the withdrawals from those low rates is still being felt. Two years in, we have enough data to evaluate the impact of the rate jump; the questions of “how much, how many, and how long” can be answered at this point. Comparing Feb '24 to Feb '23 and Feb '22 (six main metro counties); we see how hard those rate increases hit in '22 and how the market adjusted through '23.
As the early spring 2024 season opens around Greater Atlanta, some home buyers are still facing multiple offers. This is not the same universal craziness that we saw during the post pandemic days, but the current inventory of highly desirable homes remains fiercely competitive. Greater Atlanta saw a significant influx of post pandemic buyers coming to town with pockets full of cash. They were hungry to buy, and they did. Sellers could list pretty much anything at any price and it would go quickly at or over list. Those days are over...sorta.
ping pong and badminton. It’s played with a plastic ball with holes in it that resembles a wiffle ball. While the sport was created in the 1960s, it recently gained steam during the Covid-19 pandemic, as people looked for ways to get exercise outdoors and also be social. But not everyone is thrilled, especially home owners within ear shot of the courts.
refuse to close? What used to be infrequent is becoming more common; Sellers backing out of contracts. They might have second thoughts about giving up a low rate or realize that maybe it’s better to keep the home they have. If that happens, what can a Buyer do?