Q3 2021 Real Estate Market Conditions Report for Athens, GA
At 5Market Realty we believe to best serve our clients and the Athens, GA community writ large we need to maintain our leadership when it comes to understanding the local Athens real estate market.
That’s why in addition to other research, we regularly survey our large team of real estate professionals for on-the-ground insights about market conditions in Athens. This quarter, we decided to start publishing our results to better share our insights with the rest of the community.
The Results Are In
Seller Concerns: When it comes to low housing inventory, our agents are finding something of a self-fulfilling prophecy regarding home listing challenges. Homeowners that might potentially list their homes for sale are holding off given the lack of prospective homes to move into. From what our agents are seeing, finding a place to move is the biggest concern for sellers in the Athens market right now.
Buyer Concerns: When asked what is the biggest concern for buyers in the Athens market, a large majority of our agents agree that the largest issue facing buyers is inventory. It follows that the second-largest concern is home prices, which are being driven up by high demand and low inventory.
Factors Driving Home Sales: On the question of the biggest factor driving real estate sales in Athens, the results were a bit more mixed. High demand eeks out for the biggest factor, with low supply another significant consideration. Interest rates and the need for more space were also noted as factors driving sales in Athens, GA.
Data Breakdown
Seller Concerns
Buyer Concerns
Factors Driving Sales
Tips From Our Team
What is the best advice you can give a home buyer today?
When it comes to buying a home, all of our agents counsel preparation and patience, but here are some specific pointers from our team:
“Talk with your agent well before you start to look for a home. You need to be educated on the market in order to make strong and smart offers.” –Scott Talley
“You have to be patient and also have an open mind when looking at homes. You may have to look in areas that you were not considering originally.” –Braden Marett
“Speak with a local lender before you’re ready to purchase. Sit down and come up with a strategy with your agent on ways you can make competitive offers. Make sure to give yourself plenty of time to search so that you don’t end up in a pressured situation of feeling like you have to settle.” –Cara Thompson
“Don’t assume the market is going to ‘crash.’ Anyone who ever waited ends up saying, ‘shoulda, coulda, woulda!'” –Kristin Embrey
“Learn what you like & dislike, and be able to act fast.” –Alex Sams
“Be Patient.” –Jullie Sailors
WhAt is the best advice you can give a home seller today?
If you’re considering selling your home, we advise a thoughtful pricing strategy, planning, and local market knowledge. Here are some additional thoughts from our agents:
“Do not overprice your home. Price it at market value.” –Scott Talley
“Don’t be greedy- If you would not pay what you are asking for your home, nobody else will either.” –Lauren Lamb
“If you have a place to go sell now. :)” –Christina Hammond
“Go the extra mile to make your home marketable. Clean out, fresh paint, pine straw, fix what is needed. If you have a good agent – they can help with all of this. IF your home is in top shape – it will bring in more money and more buyers” –Gena Knox
“Understand the market you’re about to enter as a buyer prior to listing your home and becoming an active seller. The best way to do this is by consulting with an established local agent with a firm understanding of today’s market conditions.” –Cameron Treadway