Record Highs! – Atlanta Market Update
It’s likely you’ve started to hear that the real estate market might be coming back. We’ve said it before but it’s worth repeating. In real estate, if you heard it on the news, it’s likely too late or at least they are always late to game. Like buyers who rely on Zillow for a search, newscasters wait for reports that are often 6 months after the fact in order to report “the news.” Unfortunately for the public, the real estate market continues to march forward. Metro Atlanta as a whole is up 10% over last year. First Time Home Buyers are really feeling the crunch right now as homes in those price points continue to get smaller and less desirable forcing them to act sooner or perhaps increase their bid.
It’s still far, far cheaper to rent then buy, however.
In Alpharetta real estate the average home for sale is in the $400’s with an average payment of $1,891, it’s still a better deal then comparable rent on this same home for $3,600+ . Let’s look at Lawrenceville real estate with an average price of $240,000 and it’s monthly payment of $1,100. While the rent is roughly $1,500 to $1,800 on a comparable home. In fact whether you are looking for Dunwoody homes or anywhere else with rates as low as this the market has a little ways more to go before it reaches the top.
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