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Chad Schernikau's Blog

By Chad Schernikau | Agent in Smyrna, GA

Real Estate Market Report: March 2014

Real Estate Market ReportThe real estate market report for March shows a more stable market.  The  market has not taken off like in did in 2013.  Many categories that have shown consistent increases are flat lined now.  This is not a bad thing, it just means that the market made huge strides in 2013 and now is moving into a market that will have stable appreciation.  There has been recent reports that Atlanta is one of the better markets for consistent stable appreciation.  It is still a great time to buy or sell, but the great deals are gone.  Take a look at some of the market statistics for March.

March Real Estate Market Statistics - Compared to February 2013

  • Number of active properties are down (-12.9%)
  • Pending properties are down (-6.8%)
  • Distressed properties are down (-16.9%)
  • Monthly supply of listings are nearly flat - this is due to unchanged sales year to year and higher active properties
  • Median sales price is up (+18.8%) - this keeps trending higher due to low supply of inventory
  • Median days on market is down (-27.2%) to 56 days - this is due to lower supply of inventory

Overall, the market is strong and properties are still moving.  The inventory in price points under $600,000 are all a sellers market.  Homes that are priced at $200,000 and under are less than three months of inventory.  This means a couple of things.  It could take buyers more time to find a home and there will be much more competition for the better homes in the lower price points.  We are heading into the peak real estate market season. Think about this, low inventory and peak season means homes are going to sell.  If you are wanting to move, now is the time to sell.

Real Estate Market Report:  March 2014

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