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Home Prices Increasing, Inventory Shrinking

Want to buy a house? Don't wait around.

The housing market nationally continues to to recover.

Released this week, year over year, there is an 8 percent increase in the sale of existing homes. Even more startling is the sale of new homes, with an increase of over 29 percent. 

The average price of a home nationally increased to $187,400, a 9.5 percent increase when compared to 2011 levels. Many markets, including ours, are seeing price increases due to reduced inventory and multiple offers on homes. 

What does this look like in Lilburn? We are looking at a similar trend, with a nearly 31 percent reduction in listings when compared to 2011. What this means is buyers are having to look at homes nearly as soon as they hit the market or they will already be under contract.

Setting appointments on Thursday for a weekend showing no longer works in our current market, as the homes called on are already sold by the time the weekend hits.

If you are able to sell, now is a great time to do so, with reduced inventory and prices Lilburn continuing to increase, up 7.4 percent.  Interest rates are also very low. I have clients getting rates in the low 3's with good credit

Featured Homes:

Berkmar Basement: What a looker with granite counter tops, short sale. Located at 2627 Autumn Ridge Lane.

Parkview Basement: Homes comes with hardwood floors, granite, normal sale. Located at 4467 Newport View Court.

Meadowcreek Looker: Home has granite, stainless steel appliances, normal sale. Located at 5855 Brookside Oak Circle.

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