During the period ending March 31, sales prices of close-in Atlanta homes increased 15% over the same period last year. Year-to-date, over $244 million in homes have been sold with a small average 59 days on the market. Accurate pricing and a robust flow of buyers made for a 95% sales price to list price ratio, meaning homes are selling for an average of 95% of their list price. Low inventory continues to be a factor dampening further sales growth in many price ranges. We currently have only 1-3 months of inventory across most price ranges. The market softens for houses priced from $1-2 million where there is 10 months inventory, and those priced between $2-5 million which have 24 months. In entry level to mid-priced houses we continue to be in a seller’s market with frequent multiple offer situations.
Thinking of putting your house on the market? Now is a good time.