Atlanta Real Estate Market Update: November 2023

What's happening in the Atlanta real estate market? Are prices falling? We’ve had many conversations with clients lately who who want to wait to purchase until they see a substantial decrease in home prices. Many believe that a significant price drop is imminent, prompting them to delay their home-buying plans. However, I'm here to clarify that this isn't the case..

The Reality: Prices Are Holding Steady

Contrary to the notion of prices dropping drastically, the data suggests that Atlanta's real estate market is holding steady. We are constantly and closely monitoring the key market indicators: average sales prices, days on market, and month supply/inventory numbers.

While some minor price adjustments have occurred, we have not seen and very likely will not see a major reduction in pricing. These minor pricing adjustments are due to overly ambitious initial pricing strategies.

The Atlanta Difference:

When it comes to real estate, local markets can vary significantly from the national perspective. The news often focuses on the broader picture, but it's important to understand the nuances of our local market in Atlanta!

My observations indicate that Atlanta is doing relatively well compared to some other parts of the country. While we've seen a slight dip in prices, it is by no means a significant reduction. In fact, when comparing Atlanta's year-to-year data, our prices are holding steady and are approximately 4.8% higher than they were last year.

This 4.8% increase aligns with the national average, where a 4% yearly increase is typically expected. So, it's safe to say that Atlanta is trending better than many other regions.

Let us be your news source:

We want to be your local real estate news source when it comes to making real estate decisions. National news may not reflect the realities of our Atlanta market and that could hinder your ultimate real estate goals.

The data suggests that there's no impending price collapse, and it's a great time to explore your housing options without the fear of drastic price reductions. We are always here to answer questions and help dissect local data with and for you. Set up a time to chat below!