Athens Market Update – January 2021
With 2021 in full swing and winter quickly approaching, let’s not forget to pay attention to the changing Athens market! Take a look at our Athens market update for the month of January to understand residential real estate activity in your area. Mark Spain Real Estate has summarized the key real estate trends of the Athens market so you can stay well-informed! Staying up to date on the trends of the market allows you to make more informed decisions on where your next move will be.
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The Hard Facts – Athens Market Update
- Number of active listings was down 43% from one year earlier, and down 26% from the previous month
- Compared to last year, the average number of days homes spent on the market was down 14% at 47 days
- The median sales price in December was at $247,000
- The number of units sold was consistent year over year, and decreased 10% month over month
What does this mean for you?
Buyers, this smaller number of active listings may signal that those who waited to buy may have had a smaller selection to choose from. The increase in the number of units sold is a plus for buyers. Higher year over year figures indicate more buyers were able to find what they were looking for compared to the previous year. Buyers are able to find homes with sought after features that they have been yearning for, at an affordable price. With interest rates remaining notably low, market growth has expanded making purchasing a home more accessible.
Sellers, the decrease in the number of active listings year over year means that there is less competition in the market. The average number of days home spent on the market decreased from 55 days last year to 47 days this December. This lower number of days signals a positive trend in the local inventory turnover rate! Sellers are able to sell their home faster than before. This is a positive trend for sellers who are looking to sell their home fast. The number of homes sold decreasing month over month could be an opportunity for buyers to negotiate better terms. Using the Guaranteed Offer Program, sellers are able to receive a cash offer and close in as little as 21 days- skipping the process of open houses and showings.
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 Athens coupled with an unparalleled level of customer experience. Our team knows the Athens market well, and your experience is our top priority. Take advantage of the real estate market now and get your home sold FAST! Contact us today to get a head start.
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