Atlanta Real Estate Market Update: May 5th 2020

Hey! Thanks for joining me this week and tuning into my latest market update video. I have some really great news for the Atlanta real estate market in this week’s update. It turns out that average days on market went down to just 14 days in the month of April. That is 10 days lower than the average for March. So, homes sold VERY quickly last month. 

The main reason is that interest rates are still very low. So, buyers who can qualify right now, are taking advantage of those rates. Economists are also predicting a “V” shaped recovery from the COVID19. Which means that housing prices probably will not be affected very much at all. 

Inventory did increase slightly last month. Right now we have an average of 3 months of supply for the entire Metro Atlanta market. That is still very low considering that 6 months is a balanced market. We are still very much in a seller’s market here in Atlanta. It also makes sense that we would have a few more properties come on the market. We’re still in selling season, even if we are on lockdown. 

It looks like this whole situation has taught folks in the real estate industry how to do many things more safely and conveniently. Some of these new ways of doing business are likely to stay the same even after we are out of this pandemic. We have so much technology at our disposal these days, that it doesn’t make sense to keep doing things the old way. It’s almost like this was the push realtors needed to start implementing these innovated systems to make everyone’s life easier. 

🔥Hot Areas For Investors In Atlanta🔥

Here are a couple of neighborhoods in Atlanta to watch. Lincoln Homes and Carver Hills on the Westside. Both of these neighborhoods are in the 30318 zip code where the Bellwood Quarry Park will be. Proctor Creek also runs through both of them. This creek is part of another Beltline-style development that will connect these upper westside neighborhoods with Bellwood Quarry Park and the Beltline. Investors who get in earler will be able to get a great deal here in these neighborhoods. 

Check out some of the listings below.