Georgia

This hot Georgia summer has warmed buyers who were frozen by lack of inventory in recent years. Available homes have increased steadily since January, ending the second quarter with 3.6 months of inventory. Less than five or six months is still considered a seller’s market, but the loosening gives buyers more options, more time to consider them, and maybe even some negotiating power.

However, there is significant variation in submarkets. For example, Sellers still have the upper hand in Marietta, where there are less than 2.5 months worth of single-family homes on the market. By contrast, condominium buyers in Buckhead have the advantage with over six months worth of available options.

Anticipate slowing activity going into November. In general, people are less likely to make big investments or changes when they experience uncertainty. If the events of July are any indication, this year’s election will deliver lots of surprises, with both sides reporting high anxiety. We are likely to have lots of distractions in battleground Georgia. Don’t fret. Georgia is growing with a robust economy, so a slow fall will bring a busier-than-usual holiday season and/or a booming spring market.

Please reach out to me with any questions. Also, I would love to hear what you are observing in your market.

Actionable Advice for Georgia Agents:

• Stay Updated on Market Trends. Regularly review market reports and trends from trusted industry publications. This market report is a great place to start!
• Enhance Client Relationships. Provide personalized service and maintain regular follow-up.
• Leverage Technology. Use the tools you have to stay in touch with your clients by providing value.
• Master Marketing and Lead Generation. Utilize both online and offline marketing strategies.
• Continuously Educate Yourself. Stay updated on new industry rules and best practices — now more than ever!