Duluth, Georgia
It is definitely a buyer's market in The Duluth area of Atlanta North Metro, sales are off in the upper price ranges, and inventory and the days on market to sell has increased dramatically on homes priced over 500K. However, home values are still holding especially in new home construction. There is a shortage of product in new homes, and softening of pricing on resale.
Also, sellers have started to reflect price changes on their properties, and the relocation market is off. Sales of existing inventory, and sales vary by price range and location. However, the lower rates are keeping some momentum in the market in moderate price ranges, and on brick homes, keeping listing prices firm.
In this market, we are finding some flexibility in the seller's terms more so in the higher priced homes, and in moderate ranges the sellers are paying some buyer closing costs, repairs etc. Under 250K, it is business as usual.
realtytimes.com |
