What's Happening Locally
Is it still a good time to sell? Is it getting easier for buyers? What do rising interest rates mean?
Get Sherry's take on the current state of our local housing market.
Curious about where the housing market is headed?
It's been a crazy ride this last year on both sides of home transactions. Many receive multiple offers above the asking price. In fact, our average sell-to-list price this year is 109 percent!
Year-over-year appreciation has been running about 20 percent, well above the typical five percent. And while it’s still increasing, we are definitely starting to see things slow down. Which isn’t surprising. That kind of appreciation isn’t sustainable.
The National Association of Realtors reported fewer sales in March and April. That's to be expected with increasing interest rates and low inventory. What I've been watching is the number of showings and offers each listing receives. I know it sounds crazy but when we go from 15 offers to five that’s a significant change.
We’re employing the same tried and true tactics that have served us well - prepping homes, pre-marketing, and listing on Thursdays. But the results are shifting to fewer showings in the first few days and then fewer offers. Buyers are beginning to push back more on price. It certainly is more common than it was a month or two ago.
So, if you were looking for an early sign of a market shift, this is it. Does that mean we are doomed for a crash? No.
While it has increased slightly, inventory is still low. I am starting to see price reductions for the first time in a while. Agents and sellers need to be careful about not pricing significantly above the last sale.
Buyers are getting pickier, especially the more they are paying. They’re also dealing with rising mortgage payments, 30-year interest rates are over five percent and could be near six percent soon. The Fed plans to increase interest rates over the next two quarters.
If you aren’t where you want to be for the next five years or want to sell off a larger asset and downsize, now is still a good time. Or, if you want to shift some of that money you (and the rest of us) are losing in the stock market to real estate, now is the time.
If you're ready to make a move or buy investment property, let's talk!
The Home with Sherry Team Difference
We view real estate as a profession, not a hobby or part-time endeavor. Together, the five agents that make up our team have decades of experience buying and selling homes across Atlanta.
We work together as a team to make sure all clients receive the time and attention they deserve. From something as simple as someone always being available to answer questions or show a house to pitching in to solve complex issues that occasionally pop up.
Our clients know they can count on us for honesty and advocacy, no one fights harder on their behalf. Each agent serves either sellers or buyers in order to deliver a better, more client-focused experience. Sellers appreciate our innovative approach to marketing homes. Buyers benefit from our deep understanding of the local market.
We have full-time operations, marketing, and social media managers on staff. All three of these hardworking women come from corporate backgrounds and work together with the agents to ensure smooth transactions for all our clients
Our team is backed by Compass a world-class real estate brokerage with a nationwide network of top-tier agents, sophisticated technology, unmatched marketing, and unique programs for buyers and sellers alike.
When you work with us, you can expect honest answers, based on what’s best for you, not us. We know that buying or selling a home can be fraught with emotion. Our goal is to make the whole process as stress-free as possible for you. We’ve got you.
Based in Alpharetta, GA, Home with Sherry Team serves buyers and sellers from in-town Atlanta to the north end of Lake Lanier and everywhere in between. We are a Zillow Premier Agent and Dave Ramsey endorsed. We are recognized by Real Trends as a Top 10 Team in Georgia and are the top medium team in the Compass North Atlanta office.
$71M SOLD in 2021 | 4 Median Days on Market | 104% Sell to List Average