Atlanta Market Update – August 2020
As the fall season starts, let’s not forget to pay attention to the changing Atlanta market! Take a look at our Atlanta market update for the month of August to understand residential real estate activity in your area. Mark Spain Real Estate has summarized the key real estate trends of the Atlanta market so you can stay well-informed!
We go through extensive trainings and continuous research opportunities to better understand the ever-changing markets that we serve. We take pride in our need to always grow and improve! We strive to deliver an unparalleled client experience and exceed meeting our clients real estate goals!
To learn more real estate market trends, tips, and information, visit our blog!
The Hard Facts – Atlanta Market Update
- Number of active listings was down 30% from one year earlier
- Compared to last year, the average number of days homes spent on the market was down 16% at 35 days
- The median sales price in August was at $310,000
- The number of units sold decreased 1% year over year, and decreased 15% month over month
What does this mean for you?
Buyers, the decrease in active inventory listings in the Atlanta market means you have a smaller selection to choose from that before. However, the decrease in the number of units sold is a plus for buyers. Fewer sales could indicate an opportunity for buyers to negotiate better terms!
Sellers, the decrease in the number of active listings means that there is less competition in the market. The average number of days home spent on the market decreased from 42 days last year to 35 days this August. The decrease in days on market signals a positive trend in the local inventory turnover rate! Sellers are able to sell their home faster than before. The number of homes sold decreasing month over month is simply indicative of the unprecedented time we are going through. The August Atlanta market update shows trends that indicate that we are in a seller’s market right now!
We provide the Guaranteed Offer Program for those who want to sell their home fast. This offer presents the seller with a competitive cash offer for their home and enables a closing in as little as 21 days. The seller is alleviated from the stresses of showings and open houses. We are thankful to be able to provide our clients with options, to learn more visit our site!
Mark Spain Real Estate is here to help you make smart and informed real estate decisions. Navigating the real estate market can be difficult, and you don’t want to do it alone. Mark Spain Real Estate gets you maximum exposure to metro Atlanta coupled with an unparalleled level of customer experience. Our team knows the Atlanta market well, and your experience is our top priority. Take advantage of the seller’s market now and get your home sold FAST! Contact us today to get a head start.