Eye on the Market
Snellville, It's Officially a Seller's Market
Fewer homes on the market means good news for sellers in Snellville.
The housing market nationally continues to recover. Released this week, year over year, there is an 8% increase in the sale of existing homes. Even more startling is the sale of new homes, which has seen an increase of over 29%. The average price of a home nationally increased to $187,400, a 9.5% increase when compared to 2011 levels. Many markets, including ours, are seeing price increases due to reduced inventory and multiple offers on homes. What does this look like in Snellville? We are looking at a similar trend, with a nearly 31% reduction in listings when compared to 2011. What this means is buyers are having to look at homes nearly as soon as they hit the market or they will already be under contract. Setting appointments on …
Nicole Lambie
12:25 pm on Monday, August 13, 2012
We in the process of buying a house. I would say about 90% of the listed houses we would find that we liked would already be under contract or have so many offers on it they were not taking any more. We were only able to get the contract we have now by putting an offer on it same day it went on the market. I had heard it was a buyer's market, but I had no idea how competitive it was! more ›