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How’s the Market, August 2017

08/24/2017 by Pinewood Realty Group

Are you wondering how the market is looking? Look no further! The Market is both EXCITING and CHALLENGING!  We love the industry and love helping our clients!  Please feel free to call us with questions at anytime.  We are happy to help!

 

Graph displays June, July and August stats. The numbers reflect attached and detached single family homes in the Atlanta Metro Area. All data taken from Georgia Multiple Listing Service on August 18, 2017.

 

  • Single Family inventory is down 22.3% from August 2015.
  • Good news, New Foreclosure numbers have been on a downslide since March and down by 13% from last year.
  • Days on the Market is 73; this number is slightly up since April.
  • Pending sales are up by 11% from last year and pretty consistent to last month.
  • Single Family average price of $271,023 for the month of July is 4% higher than July of 2016.
Month/Year Inventory New Listing Solds
June 2017 44,935 14,969 11,400
July 2017 44,465 13,298 10,129
August 2017 39,622 9,208 5,044

The Federal Reserve, FNMA, NAR and most economist would suggest rate increase this year to approximately 4.75-5%.  Buyer power decrease by 10% with every 1% interest rate gain.  Buying now is still a good move for buyers even in a low inventory market.

What Should Seller’s do in this Market?

  • Know the price trends. Overpricing is a mistake in today’s market.
  • Be positioned as the best conditioned home.  You will get top dollar this way.
  • Stay positive, It only takes one buyer!

What Should Buyer’s do in this Market?

  • Become the most attractive buyer by being pre-approved for your loan.
  • Be ready to buy, don’t hesitate when you find the right property.
  • Stay positive, the right home is out there waiting for you.

 

Filed Under: Uncategorized Tagged With: area, Atlanta, family, Fayette County real estate, Fayetteville, foreclosure, Georgia, market, Peachtree City, Pinewood, Pinewood Realty Group, real estate, real estate industry, real estate market, selling home, statistics

Meet Lindsay

02/27/2017 by Pinewood Realty Group

“As a first-time home buyer, I had no idea what to expect. The Pinewood team was patient and walked me through each step of the buying process. My new home is nothing short of perfect for me.”

Lindsay, 2017
Tyrone, Georgia

Filed Under: Feels Like Home Tagged With: area, Atlanta, Fayette County, Fayetteville, Georgia, home buying, house, market, Pinewood, suburb, Tyrone

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