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Cynthia Pierce April 2021 Market Update

Our real estate market’s current conditions are completely unprecedented. We have a lot of stress and a lot of excitement going on. Here’s what you need to know.

Back in February 2020, we had 11,168 active listings for sale. Fast forward to February 2021, and we had just 3,630 active listings for sale. That’s a 67% decline in available inventory! In the same time, the median price has gone up by 14%.

This has been wonderful for our sellers, but it has also been a little stressful for buyers. If you're ready to sell, now is the time. Sellers are regularly receiving multiple offers and offers over asking price.

At the same time, buyers ar...

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You’ve probably seen ads or heard about companies like Offerpad, Knock and Opendoor who advertise a more convenient way to sell your home through instant offers and streamlined selling. They have become known as “iBuyers” and are for-profit investors who use automated valuation models based on tax records and neighborhood sales data to make expedited offers on homes and resell them.

Recently, a Keller Williams colleague in Atlanta put Offerpad, Knock and Opendoor to the test by comparing their offers for the same properties with traditional methods of home valuation. He received markedly different results! You can quickly eyeball the findings below but I encourage you to rea...

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How much is your home worth right now? Accurately calculating this figure is not a quick back-of-the-envelope exercise nor should you rely solely on the popular online Zillow Zestimate. As they stipulate on their website, Zillow finds that they can predict home values (within 5% margin) only about 55% of the time in the Atlanta area. It takes a lot of research, knowledge of the neighborhood and personal observations of the property to get an accurate listing price.

I've listed the most important factors and calculations I consider when doing a thorough market analysis.

If you have any questions or know someone in Atlanta who would be interested in getting a free CMA (competitive market analysi...

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Wondered how the Atlanta real estate market did last year overall? My office does a great job of providing its agents with data throughout the year, so I've summarized some of the 2017 highlights for the market as a whole compared to the year before. If you are curious about how your specific Atlanta area did (ex. Dunwoody, Buckhead), please do not hesitate to contact me!

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In case you haven’t heard, tech giant Amazon is preparing for cell division of its massive Seattle-based headquarters and Atlanta could be the host body of the new genetic material. Speculation is rampant as to which major cities are serious contenders (D.C., Toronto and Dallas to name a few), but most pundits put our city on the short list - anywhere in the top 5 to top 10. With those odds, it’s no surprise that you can’t leave the beauty salon or checkout without hearing the buzz.

If you are curious about the details, I’ve linked the request for proposal known as Amazon HQ2 RFP here, but the essential requirements are:

  • Within 30 miles of a metro area with 1M+ resident...
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Statistics abound in the real estate profession. It just comes with the territory, both at the national and local levels. However, active buyers and sellers shouldn’t put too much stock in generalized, high-level data about sales in an area because a home price and time on market can vastly differ from the average depending on several factors: time of year, the condition of the property and the exact location (even block). A home for sale next to the beltline, for example, isn’t going to fall in line with expectations for a listing 2 blocks away even though they both are in the same neighborhood.

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But statistics are a good starting point for realtors to establish a baseline of res...

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