Atlanta Real Estate Prices are Soaring!
There has been a definite slowdown nationwide of home price appreciation from the rapid ascent over the last couple of years. Many areas of Atlanta are still doing exceptionally well in comparison though. With 16% appreciation year to year, Atlanta real estate continues its appreciation. Atlanta is one of only 19 of the 173 measured markets that managed to log a double digit price increase from a year earlier. In conversations at broker/agent team meetings, low inventory has been a hot topic. Those sellers ready to list properties now are likely to generate great interest from buyers who have already viewed current real estate inventory and are anxiously waiting for new, well-maintained Atlanta homes to hit the market.
Despite the rise in prices, buying is still cheaper than renting in Atlanta. Buyers, of course, gain equity as they pay toward their home loans, which compensates for higher monthly costs.
Why Sell Atlanta Real Estate Now?
Many Atlantans continue to sit on homes they’d prefer to exit because of the thought that they want their home to achieve a higher value through appreciation. Maybe these sellers have a set number in mind, perhaps related to the value the property had in 2007 before the bottom dropped out. If you’ve been considering selling your home, and have been holding back with hopes to gain a little more equity through appreciation, you may wish to rethink your strategy. Imagine you’re selling a lower priced home gaining appreciation at 10%, and purchasing a higher priced home also appreciating at 10%. At that moment you own the new home, your appreciation will then be based off of a higher price, earning you more. It’s a net gain to purchase a higher priced home in matching appreciating scenarios.
This is the time to move! Get your home in shape, fix obvious deficiencies, declutter and get it on the market. Now is the perfect time to search for your new Atlanta dream home.
