Berkshire Hathaway has released its Buckhead real estate market update for January 2018 and it looks like 2018 was off to a slow start. However, I believe it is related to the weather we experienced here and not the demand. I do see activity picking up in February and a sense of urgency with the threat of higher interest rates on the horizon.
We have basically 3 markets going on right now. If a buyer is looking under $500,000 they can be prepared for a bidding war with multiple offers on properties that are priced right. That’s particularly true in the under $350k price range. Buyers that are looking from $500k-$1.5M can expect an even balance of buyers and sellers and should expect to pay comparable pricing to last year with little increase in pricing. The buyers in the over $2M price range are in a buyers market and should expect to get deals. There is about 4 years of inventory out there and plenty to pick from. These buyers may have a high cash percentage as a down payment but due to the higher price points they are particularly sensitive to interest rate increases.
As always, your home is unique and as such requires an expert to help you price. Hitting the range at the right price will help you sell in a reasonable amount of time. I pride myself on my recommendations, not that all of my clients take them, but I’m confident in the analysis and getting your home sold rapidly if it is within the range. We are ready to help you take the most advantage of this upcoming Spring market!
Please feel free to reach out with any questions!