The Weather Isn’t the Only Thing Heating Up This Spring – The North Georgia Real Estate Market is on Fire
We are ready for warmer weather in beautiful North Georgia! But the weather in the “Peach State” isn’t the only thing heating up this spring! The housing market is predicted to a hot one – with a surge in home sales within the next few months.
Real Estate Pros Predict a Strong Housing Market this Spring
With the pandemic and all of the unexpected things we have all experienced in the past year, it’s great to know that the real estate market is expected to be a strong one in 2021. With interest rates near record lows and people getting back to work – the supply and demand of homes for sale in most markets, including North Georgia, indicates that home sales are expected to flourish!
What Does a Hot Real Estate Market Mean for Buyers and Sellers?
A hot real estate market actually means different things for buyers and sellers, but it will definitely be competitive – whether you are looking to buy or sell a North Georgia home this spring.
Real estate and financial experts are predicting increases in the existing home sales in the U.S. by 9%, newly built home sales up 21%, home prices up 8%, and interest rates remaining at an all-time low at around 3% on 30-year fixed rate mortgages for the early months of 2021.
What Can North Georgia Home Buyers Expect from the Spring Housing Market?
With more buyers looking for homes than there are sellers, the market will definitely be a competitive one in North Georgia. While that may seem discouraging, the interest rates are expected to stay at all-time lows, which means lower payments.
What Can North Georgia Home Sellers Expect from the Spring Housing Market?
Sellers in North Georgia should have an optimistic outlook about listing their homes for sale in 2021. The spring real estate market is expected to bring tons of buyers. This, combined with the fact that there are not many home sellers to compete with, makes it a true seller’s market. An experienced Realtor will be able to help you sell your home quickly and for the most money.
A Strong Real Estate Market in 2021 and Beyond
While we cannot predict the real estate housing market with 100% accuracy, we can definitely listen to what market experts have to say about what we can expect to see in spring 2021 and beyond. The outlook for 2021 is quite positive and does not show any signs at all of problems with the housing market within the next two years. The predicted home price increase of 8% in 2021 and 5.5% in 2022, means that the real estate market looks strong. As new buyers continue to search for homes during a time when there is such a low inventory of homes for sale, the prices of these homes as well as the number of homes sold will continue to increase.
Contact Southern Select Properties for Your North Georgia Real Estate Needs
The team at Southern Select Properties in Dawsonville, GA is here to help you buy the home of your dreams or sell your existing one. We are experienced, knowledgeable, and will work with you to assist you with buying or selling a North Georgia home and make it as stress free as possible! Contact Southern Select Properties today to list your home for sale or sign up to have listing alerts of new properties for sale in North Georgia emailed to you. Feel free to contact us with any questions. We’d love to be your Georgia Realtor!
