March Madness in the Atlanta Housing Market
Despite the intimidating national economic news we read daily, the Atlanta housing situation is experiencing a moment of March madness as buyers scramble to lock down what ever houses come on the market in their target neighborhoods. I am in DIRE NEED of houses to list to meet the existing buyer demand in this March 2023 market.
If you are thinking about putting your home on the market this spring, NOW is the time to do so. Buyers are out looking and we are back in multiple offer situations on many homes. The English Team had two different buyers get bumped out after making offers on houses this week. And the competition right now seems to be owner-occupants and not the investors who dominated the market in 2023.
Homebuyers – plan to come to the market with an initial strong offer. There hasn’t been much of an opportunity to strengthen offers after they are originally submitted. Sellers are looking at a handful of strong offers, selecting the strongest offer – then negotiating only with that Buyer.
30345 zip code
This is how things looked this morning in zip code 30345 – there are only 27 homes on the market this morning.
Market Segments: Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$1,650,000||4,227||0.25 – 0.5 acre||5||5.5||0||0||0||35|
|$1,099,000||4,130||0.5 – 1 acre||5||4||36||3||1||42|
|$675,000||2,415||0.25 – 0.5 acre||4||3||58||2||0||119|
|$519,000||2,025||0.5 – 1 acre||3||2||61||5||3||0|
SECRET SERVICE WARNING ABOUT SCAM SELLERS
One other feature of March madness has been a rash of scammers trying to sell vacant lots they do not own. These scammers represent themselves as the seller and then list the lot with a real estate agent and try to accept a cash offer. They are hoping buyers will not do too much due diligence and send the proceeds of the sale to them without digging in to make sure they are the actual owner of the lot.
HOW TO Prevent Being Scammed