What is the Seller's Housing Market in Sandy Springs, Manahawkin, Atlanta, and Las Vegas?
Posted by Christine Moore on
Selling a house is always a challenge, but it helps to know what the housing market is in your city before starting. Going blind into a house sale can become a wasted effort if you find out later it's not the best time to sell.
Those of you who live in Georgia, New Jersey, and Nevada continually have fluctuations in the housing market, just like the rest of the country. Sometimes this can differ between a few cities.
If you're living in Sandy Springs, Manahawkin, Atlanta, or Las Vegas, here's some current information on the housing market to give you an idea of what's going on. Let this be a guide to move you in the right direction on selling your home this year.
The Housing Market in Sandy Springs, Georgia
At the moment, Zillow reports the selling market in Sandy Springs is a bit cold, though home values have gone up 5% over the last year. Zillow also says housing prices are going to rise 4% more over the next year.
While this is good news on value, the median price of homes is still fairly high and held steady. As of this writing, it's at $585,000.
Realtor.com notes that 2,303 homes are currently for sale in Sandy Springs, so the above reports shouldn't dissuade you from want to sell soon. They note the median closing sale price in Sandy Springs is around $396,000, so you may have to go a little lower to move a sale forward.
Price per square foot now hovers around $200.
The Housing Market in Manahawkin, New Jersey
The basic home value price in Manahawkin is $271,400, according to Zillow. As in Sandy Springs above, home value rates continue to go up here, though only slightly. Zillow says home values have gone up 5.1% over the last year, with a 4.5% increase into 2018.
Despite the housing market being slightly less healthy in Manahawkin, median closing prices on homes are almost equal with the listing prices. Realtor.com points out that average listing price hovers around $265,000, and closing price typically goes around $250,000.
With Manahawkin not far from New York, you'll likely find a buyer for your home without having to take a huge loss. Thanks to media listing prices already going up this summer, you might get a winning deal with the right real estate expertise.
The Housing Market in Atlanta, Georgia
With Atlanta being a major city, the housing market is a little different from the smaller cities above. In fact, the housing market in Atlanta has improved considerably more than Sandy Springs and Manahawkin.
Trulia says that Georgia's capital has had a 13% increase in median home sales over the last year. It's an increase of $36,000, which is quite significant. The average price for a home per square foot rose to $208, a slight uptick from a year earlier.
Even better news comes in Atlanta's continually improving economy. All real estate experts say this is going to contribute to stronger home sales there in the immediate future. Many of these are Millennials.
The Housing Market in Las Vegas, Nevada
As with the cities above, housing prices have gone up in Las Vegas as well. Zillow says they've risen 10.6% over the last year, with a continual rise of 6.2% throughout the rest of 2017.
Sliding inventory has become a problem in Las Vegas real estate in recent months. This has begun to change, after experiencing increased buyer demand, house owners who can't easily sell, and more rental homes.
Despite Vegas-based real estate professionals admitting to a bit of a housing shortage, the housing supply isn't getting any tighter. Now is a good time to sell with this improving news.
Keep reading us at Equity Prime Mortgage LLC to learn more about the home buying process and real estate best practices.