Atlanta Housing Inventory Expected to Rebound

One and a half months left until the new year, and the Atlanta Residential market continues to plow past the numbers from last year.

What does this mean? Right now, Atlanta, just like many other cities, is experiencing a “low inventory market” but, how does that directly affect you?  When housing inventory is low, it is quite often considered a “sellers’ market” because the low inventory helps create a demand for the homes that are available and can drive up prices and even create bidding wars. For sellers, it is important to take advantage of a low inventory market but for buyers, it can be a frustrating time.   However, as consumer confidence is at an all time high, the lending programs made available to buyers are incredible, there is almost an equal balance of  a buyers and sellers market.

Are you thinking about buying or selling a home in the hot Atlanta market?  Contact Red Robin REALTORS® at 404.254.5206 for more information.

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According to the Atlanta Board of Realtors citing data from the First Multiple Listing Service, the average and median sales prices continued to gain traction and outpace 2014’s figures in October. The median sales price in October was $219,000 — a 6.8 percent jump from last year. The average sales price was $274,000, up 5.4 percent from last October.

Demand saw an increase of 0.5 percent from last year. There were 3,926 residential sales in October.

The area’s housing inventory also saw a slight increase. Housing inventory totaled 16,133 units in October, up 0.2 percent from last October.

New listings dropped 1.7 percent from October 2014 to 4,526, down just 0.04 percent from September.

The supply for sales over a 12 month period dropped to 3.8 — just 0.1 percent less than last month.

“After several consistent months of housing trends, Atlanta real estate continued its positive momentum in October,” ABR President Ennis Antoine said in a statement. “Home prices and total sales remain on a steady upward slope compared to 2014. Inventory is still hovering at a four month housing supply and expected to rebound slowly. The data and overall economic growth in the area creates confidence in this competitive, seasonally-based market.”

f you want to keep up to date on the Atlanta real estate market, get an insider’s view of the upcoming homes for sale in and around Atlanta, Contact Us Today

posted: Nov 13, 2015 | No Responses

Posted by:  Melissa Wakamo

When Melissa Wakamo began her real estate career in 2004, her goal was to focus on her immediate area and get to know her neighbors. "I've had a lot of fun over the years helping my neighbors sell their homes and helping newcomers become a part of our community."

Melissa quickly became one of metro Atlanta's top producing agents and consistently performed in the top 1 of all Atlanta agents. By 2009, Melissa's real estate team had grown to include several agents and support staff, dedicated to providing exceptional service to buyers and sellers in Atlanta's intown neighborhoods.

In 2010, Melissa transitioned Red Robin REALTORS® into an independently owned boutique brokerage. Even in the tough real estate market during that time, Red Robin REALTORS® continued to outperform other small brokerages and was able to help buyers and sellers adapt to the rapid changes in the market.

Today, Melissa provides strategic oversight for Red Robin REALTORS®- ensuring that the brokerage maintains its focus and commitment to the intown market. Melissa also provides an exceptional training opportunity for agents. Under a philosophy that exceptional agents produce exceptional results, Melissa shares her marketing and business expertise with agents through the Red Robin Academy.

Melissa's active participation in various neighborhood organizations and charitable efforts, as well as her passion for antiques, cooking, and gardening, keep her busy and in touch with the community.

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