May 14, 2016 | Diamond Realty Brokers
According to research from GAMLS,
Fulton County is the Top selling county in Metro Atlanta.
Homes are on the market for sale less than 30 days.
Homes are SOLD faster than buyers can submit offers.
|County||Units Sold||Avg Sales Price||Median Sales Price||Inventory (Months Supply)||Median Days on Market|
In short, there is barely a 3 month supply of inventory that averages only 28 days on the market (ex, Fulton County) before it’s reported under contract in the mls, so the actual average days on market are much less than that. If the property is priced to sell, property owners are receiving multiple offers the day the property is listed for sale. Also if your an Atlanta buyer purchasing property much less than the average sales price, now you can see why every property you’ve called about is already under contract, pending or sold.
As a buyer in the Atlanta market or any market that has low inventory, you have to be ready because your competing with other active buyers that are already pre approved & have their proof of funds in hand ready, willing & able to submit a written offer on a property.
This is why getting Pre Approved for a home loan is the first step you should make before attempting to make an appointment to see property. The early bird gets the worm is not a sales pitch. It’s just the facts & the above chart, along with the MLS data & statistics supports the truth about home buying in Atlanta.
Buyers Struggle with Limited Inventory – RISMedia
Higher Sales Prices, Lower Inventory – Atl Biz Chronicles
Nationwide entry level inventory is down – Atlanta Agent Magazine
Diamond Realty Brokers GAMLS Member, Atlanta Association of Realtors, Georgia Board of Realtors, Greater Nashville Association of Realtors, Tennessee Association of Realtors, National Association of Realtors.