Matt Broyles

Are Bidding Wars Over?

The Facebook post above is an article by the Atlanta Business Chronicle that's referencing a report by Redfin.

Atlanta Business Chronicle headline

"Bidding wars in Atlanta's housing market decline as prices, rates rise"

Redfin headline

"Homebuyer Competition Falls for Second-Straight Month, Hitting Lowest Level in Over a Year"

Redfin sub-headlines

"Riverside, Atlanta and Olympia Saw the Biggest Declines in Homebuyer Competition"

"Homebuyers in Riverside, Miami and Atlanta Are the Least Likely to Face Bidding Wars"

Surprised by the huge decrease that they're reporting I had to see for myself. This is what I found.

Sales at Full List Price or Higher

As you can see, the number of homes that got full list price or higher is actually up significantly in North Fulton. The vast majority are above list price.

The market in Metro Atlanta is still strong so that's why I questioned their numbers because they weren't reflected in the average sales prices and days on the market that I've been seeing for both. 

I'm closing one today that had 60 showings, multiple offers and sold for over 10% above list price in 2 days.

Here's one that closed on 04/28 that got 31% above list price...

This report is based on internal data that's only from their Agents and is not market wide. 

Interest rates are impacting affordability and the purchasing power for what some Buyers can do.

The market is changing but the numbers today don't reflect what they're reporting.

Thinking of Selling this year? 

I am happy to go take a look at your home and tell you what we could sell it for. 

Let me know if there is anything

in the world I can do for you!

Weekly North Fulton Market Tracker