With inventory low and prices increasing all signs are pointing to a rising sellers market in the Atlanta area. For the first time in years some sellers are experiencing multiple offer situations. Conditions are still favorable for buyers as there are still numerous deals to be found in conjunction with interest rates still at a record low.
What does a shift in the market mean to buyers and sellers?
From a buyer perspective it means that if you see a home that you feel an emotional connection with and it meets your needs, don't sleep on it or "think about it" for too long. Submit an offer or it may not be an option tomorrow!
For sellers don't get too comfortable, a shift in the market does put you in the driver's seat initially but this also means that builders will soon be out in full force. So while it may be tempting to sit on your property for a while and wait for the market to peak, remember you will soon be competing with an abundance of new construction listings. Statistically buyers are willing to spend up to 15% more on a new construction home that is comparable to yours.
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