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Monthly Market Update

Pat Sheppard

I am  a New York native via Jamaica, WI.  I like to call myself a Jamerican. I studied Biochemistry at New York University...

I am  a New York native via Jamaica, WI.  I like to call myself a Jamerican. I studied Biochemistry at New York University...

Nov 10 1 minutes read


The Fed raised interest rates by .075% for the fourth time this year.   Here is the good news and bad news.  The bad news is that for every 1% rise in rates, home values drop 10%.  If you own a $700k home it is now worth $630,000, a $70,000 reduction. 

The good news is home values take ninety days to respond to interest rates.   You have yet to lose $70k. 

If you are not planning on living in your house for the next four to six years, consider listing your home this Fall and Winter.  Capitalize on higher values before the window of opportunity shuts.

Our monthly market update showcases everything you need to know about local real estate trends over the last month.



October Market Update for Atlanta

905

New Listings

1940

Active Listings

265

Under Contract

537

Closed Sales


Homes Sold

96.2%

Sale-to-List Price


 

$555K

Average Sales Price

21

Average Days on Market

Curious about how your home's value has changed?

We will gladly prepare a Comparative Market Analysis for you so that you are armed with the most current information.

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