Since my last update, we have seen some signs of improvement for both buyers and sellers in the national and local real estate markets. While some buyers are still waiting for lower rates, I see them starting to re-enter the market, as there are some great opportunities.

I anticipate that this will be a great summer selling season for both buyers and sellers, with stable prices and increased inventory.

Below, I outline the latest national and local residential real estate numbers and include my overview of what to expect in Atlanta this summer.

National Market Analysis [March]

Median home price: $403,700, up 2.7% from a year ago

Days on the market: 36 days, down from 42 in February

Supply: 4 months, up from 3.5 months in February

Buyers & Region

First-time buyers account for 32% of national sales, and second-home buyers were responsible for 15% of sales in March.  

Home sales in the country’s southern region are down 4.2% from the same period last year, and the median home price in March was $360,400.

Atlanta Market Analysis [March]

Median home price: $400,000, no change from a year ago

Days on the market: 49 days, down from 53 in February

Supply: 4 months, up from 3.8 months in February and up 49% from a year ago

Sales: down 5.6% from a year ago

Atlanta market overview for the summer

As we approach the summer selling season, we’re seeing signs of stabilization. We have increased our inventories to appropriate levels, and price growth has been moderate. 

The recent data is a good balance for both buyers and sellers this summer. I don’t foresee any significant price appreciations. As mortgage rates continue to settle, I view this summer as one of the best opportunities we’ve had in a long time for both buyers and sellers.

For buyers, things have become less competitive, and there are some excellent properties available in some of the most sought-after locations, such as Buckhead and Midtown. For example, I now have a beautiful and rare luxury loft for sale in the heart of Midtown.

For sellers, well-priced homes in hot neighborhoods are continuing to attract multiple bids. However, working with a Realtor like me to ensure the correct pricing and attractive marketing will be crucial, as buyers now have more choices and are less likely to engage in bidding wars.

Conclusion

Atlanta has shifted from a seller’s market to a balanced market for both buyers and sellers. Buyers now have more choices and less pressure, and sellers can expect stable to moderate price appreciation. Likewise, appropriately priced homes in hot neighborhoods will still attract multiple bids. Thanks to its unique neighborhoods and growing population, Atlanta still offers one of the best real estate markets in the country.

If you’re ready to buy or sell a home this summer, don’t hesitate to contact me.