March Market Update

As we near the one year anniversary of the coronavirus pandemic announcement, it is remarkable to analyze how the market has performed over the last year. Today, the demand for homes is higher than ever giving homeowners a newfound and unique advantage to sell. Moreover, the cost to build and the price for materials are going up; if you are going under contract today, you are locking in the construction costs and the prices of today and not the raised prices, so now is certainly the time!

By the numbers:

Inventory: -50.7% YoY. The number of homes for sale decreased by 50.7% from February of 2020.

Months of Supply -54.2% YoY. Current months of supply decreased by 54.2% YoY from February of 2020.

Average DoM: -70.6%. The average days on market for homes decreased by 70.6% from February of 2020. Current average days on market is 10.

Average Sale Price: +16.7% YoY. The average sales price of homes increased by 16.7% from February of 2020.

As we continue to navigate through one of the best real estate market’s our seasoned advisors have ever seen, it is our mission to provide the highest level of service and an in-depth understanding of the way that the market is performing. For more information or to speak to one of our advisors, visit evatlanta.com.