Market Update
T he first half of 2023 is behind us , and the metro Atlanta real estate market is doing just fine . It ’ s been a wild ride to be sure , but interest rates seem to be settling into a narrow range , inventory is slowly increasing , and both buyers and sellers are returning to a more predictable pattern . The market is still tilted toward sellers but a return to balance appears to be consistent .
The metro area enjoyed a surprisingly active Q1 and that momentum carried into Q2 with expected increases in the number of listings , contracts and closings , but quality inventory is still a challenge for many buyers . Competition for highly desirable homes remains , and we are still seeing multiple offers in some price points and neighborhoods . New construction is finally returning to the market after builders slammed on the brakes during the last half of ’ 22 . The key for buyers hasn ’ t changed ; define success , work with pros and act decisively .
Sellers with well-presented accurately priced homes will find success ; that isn ’ t going to change . An increasing gap is now clear between homes properly positioned and those less appealing due to aspirational pricing , poor presentation , or any number of marketing challenges . Quality homes always draw buyers , but fewer sellers can name their price like a year ago .
Many buyers were impetuous over the last few years , several made poor decisions . Sellers , caught up with the idea of “ name your price ” jumped but many did not contemplate “ what now ?” The “ tech revolution ” in real estate clouded the judgement of some buyers and sellers . A year later the road is strewn with these failed “ disruptors ” and the agent population continues to rapidly contract . Experience matters . Ansley agents are seasoned professionals , skilled in turbulent and shifting markets . This is not a hobby or part-time job for Ansley agents , this is our profession .