The Market Is Normalizing & You Need To Be Ready For it.
This week I am going to focus on the stats and what it means for you as a buyer or a seller.
Stats For The Month Of June
New listings are down 7.7% YOY
Home's sold are down 10.4%
Month's of inventory is up 0.7 weeks of inventory
Percent of active listings with price drop is up 3% YOY, 0.4% MOM
Pending sales are down 19.8% YOY, 2.3% MOM
Median sales price to no surprise is up 21% YOY, flat MOM
The argument that this market is too strong too correct is over. The cracks are beginning to show that interest rates are definitely effecting this market, and quickly. For buyers in this market, your opportunity for a slow down & less competition is coming & in some cases already here. Be patient, your opportunity will come. For sellers, the time where you can list at willy nilly prices & go way above prior comps are over. Listings must be priced right, the first time, & that will lead to success as a seller in this market. However, the main key to success is to work with an experienced agent who has your best interests in mind! If you are not doing so, you are only cheating yourself.
Looking for the hardest working agent in the Metro Atlanta area?
Call/ Text Carson Hulak 404-680-0710
I am always here to help you!
Hulak Realty Group
Virtual Properties Realty
Thank you for your valuable time today
As always, I really look forward to working with you now or down the road..