Overall the housing market as we close out the 4th quarter has remained sluggish due to elevated home prices, out of control mortgage rates and limited housing inventory.According to the
🏡Atlanta Housing Market August 2023🏡
Dated: September 14 2023
During the month of August, higher mortgage rates, along with elevated sales prices and a lack of housing inventory, continue to have an impact on market activity during the summer homebuying season. The average 30-year fixed-rate mortgage continues to toggle around 7%+.
Overall home sales have slowed nationwide, however; the metro Atlanta market remains resilient.
The average sales price being $541,059 for single family detached homes, and the average days on market being 23.
The average sales price for attached homes was $401,857, with the average days on market being 30.
Additional trends for the month of August for the Atlanta Housing Market is as follows.
- Home prices & values remain stable in most markets
- Home prices continue to appreciate
- The rate of appreciation slows due to seasonality
- housing inventory is still relatively low in comparison to historical levels
- Some property sellers are deciding not to sell- due to higher interest rates on their next home
- With limited inventory new construction homes have been a welcome relief for qualified buyers
- Home price reductions=price corrections
- Home prices & values remain resilient
- Housing inventory is 2.2 months
My start in real estate was 'borne' from inspiration and dedication to my son. As a single Mom, I wanted to do more than just provide his basic needs. My goal was to create wealth for myself while bui....