April Newsletter

Real Estate Newsletter

April 2023

Hi Friends. Here is the much anticipated 2nd issue of my quarterly newsletter, keeping you updated on the current market conditions. I'm just excited I actually followed up with a 2nd issue! Happy Spring to everyone. Enjoy these nice days because it won't be long before before we're sweating through our clothes. Along with the warming temps, the housing market is heating up as well! Remember, this newsletter is just quarterly so no need to unsubscribe. Any feedback or suggestions on content are always welcomed. 

Metro Atlanta Housing Stats

*Housing stats were pulled by me from all of fmls and are including attached and detached residential properties. April 2023 stats are from April 1st - April 18th. 
 
I thought it would also be of interest to include some more localized stats as well (sorry Brookhaven):

*Housing stats were pulled by me from fmls and are including detached residential properties only. Peachtree City stats were pulled from gamls.

Mortgage Rate Stats

*Mortgage rates were pulled from Freddie Mac. Rates are published on a weekly basis however I've used the rate from the first week of each month shown. 

Housing Market Outlook

The numbers don't lie. All you have to do is look at 2023 stats to see that the market is heating back up after a down 4th quarter. There has been an increase in median sales price each month of this year. Close price to list price ratio has gone up each month of this year as well. Days on market and months of inventory are both decreasing. This is pretty conclusive evidence that the market is thriving and real estate continues to be a sound investment. Mortgage rates continue to remain stable since around October last year. 
 
Here is what you can expect currently as a:
 
Buyer: Low inventory continues to be a problem which causes a competitive environment when making offers, especially for nicely updated properties. Rates are stable for the moment and property values are rising. Now is as good a time as any to buy because I don't see rates or values decreasing in the near term. If you are waiting for conditions to improve you could be waiting for awhile. 
 
Seller: Homes that look good and are priced well are very desirable. Due to the inventory shortage and the upcoming spring / summer market it's a great time to list!

 
Compass CEO Robert Reffkin's Thoughts On the Spring Market

 
Buyers have accepted 6% mortgage rates as the new normal.
 
Mortgage purchase applications have increased 8 out of the past 10 weeks.
 
There is a lack of inventory, however, inventory is 60% higher compared to this time last year.
 
Buyer demand continues to be strong, with home prices up in both March and February sequentially.
 
Open house traffic has picked up dramatically, with multiple offer situations becoming more common in markets across the country.

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Thanks for reading and please feel free to reach out if you have any questions / comments. My business thrives on repeat clients and referrals so a BIG thank you to everyone who supports me in these ways! Ready to achieve your next real estate goal?

Reach out to chat!

Steven Schuerman
 
Realtor®
M: 404.725.3863
O: 404.668.6621
[email protected]

Office: 404-668-6621

Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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