Hall County
Real Estate Newsletter
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March 31, 2021 | Volume 13. Issue 5
[Sales Data: Mar 1 to 15, 2021]
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3. 2021 Real Estate in Hall County for the first 10 Weeks of the year.
- 22% MORE Single Family Home Sales than 2020
- 25% HIGHER Average Home Sales Price than 2020
- 13% HIGHER Median Sales Price than 2020
Call us anytime for a market personalized market evaluation.
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1. Over the two week period in Hall County, from March 1 to 15, 2021, Realtors have participated in selling 122 single-family homes with an average sales price of $453,353 and a median sales price of $322,450. **60% of the above sales sold for 100% of list price or above!
2. Lake Lanier Water Level: 1,071.56 as of Monday, March 29, 2021. Lake Lanier is .56 Feet Above its full pool level.
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BUYER and SELLER Perks in Today’s Housing Market
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Right now, the housing market is full of outstanding opportunities for both buyers and sellers. Whether you’re thinking of buying your first home, moving up to a bigger one, or selling so you can downsize this spring, there are perks today that are powering big moves for people across the country. Here are the top two to keep on the radar this season.
The Biggest Perk for Buyers: Low Mortgage Rates
Today’s most compelling buyer incentive is low mortgage interest rates. The 30-year fixed-rate is now averaging just over 3%. While that’s slightly higher than the record-lows from 2020 and earlier this year, it’s still way lower than historic norms, making purchasing a home an ongoing perk for hopeful buyers (See graph below):
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This is a huge advantage for buyers and helps to make owning a home attainable for more households – and there’s good reason to strive for homeownership. The latest Homeowner Equity Report from CoreLogic shows how homeowners saw major gains in their net worth last year, all thanks to owning a home. Frank Martell, President and CEO of CoreLogic, explains:
“Positive factors like record-low interest rates and a booming housing market encouraged many families to enter homeownership. This growing bank of personal wealth that homeownership affords was noticed by many but in particular for first-time buyers who want a piece of the cake. As a result, we may see more of those currently renting start to enter the market in the near future.”
Low mortgage rates are a plus for buyers right now, but experts forecast we’ll see them continue to rise as the year goes on. If you’re ready to purchase a home, it’s wise to get started on the process soon so you can secure today’s comparatively low rate.
The Biggest Perk for Sellers: Low Inventory
Today, there are simply not enough houses on the market for the number of buyers looking to purchase them, and it’s creating a serious sellers’ market. According to Danielle Hale, Chief Economist at realtor.com:
“Total active inventory continues to decline, dropping 50 percent. With buyers active in the market and sellers still slow to put homes up for sale, homes are selling quickly and the total number actively available for sale at any point in time continues to decline.” (See map below):
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The lack of houses for sale continues to challenge the market, and with low mortgage rates fueling buyer demand, homes are hard for buyers to find today. According to the latest Realtors Confidence Index Survey by the National Association of Realtors (NAR), the average house is now receiving 4.1 offers and is on the market for only 20 days.
Buyers are clearly eager to purchase, and because of the shortage of inventory available, they’re often entering bidding wars. This is one of the factors keeping home prices strong and giving sellers leverage in the negotiation process.
Homeowners who are in a position to sell shouldn’t wait to make their move. There’s a light at the end of the tunnel for today’s inventory shortage, so listing this spring will get your house on the market when conditions are most favorable. With low inventory and high buyer demand, homeowners can potentially earn a greater profit on their houses and sell them quickly in the fast-paced spring market.
Bottom Line
Whether you’re thinking about buying or selling a home, there are major perks available in today’s housing market. Contact a trusted real estate professional today to discuss how these favorable conditions play to your advantage in your local area.
SOURCES: KCMBlog, CoreLogic, NAR, FreddieMac, Realtor.com
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HOME SALES in Hall County
March 1 to 15, 2021 Home Sales in Your Neighborhood
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FANTASTIC LISTING COMING SOON!
Call us for more information!
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COMING THIS WEEK!
5565 Riverwalk Court, Gainesville, GA 30506
$679,000
River runs in the backyard.
Call us for more information!
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The Faces of Hall County Profile Cheryl Tatum
Meet Cheryl Tatum! Cheryl works for the United States Department of Agriculture of Hall County. She is a mother of two children, Demarium and DeKauri.
We want to thank Cheryl for spending time with us recently and telling us more about her life and love of Hall County.
Q: What is your favorite childhood memory?
A: “My mother always cooked her famous red velvet cakes and let me lick the spoon.”
Q: What advice would you give a crowd of people?
A: “Every breath you take is a chance to change your life.”
Q: What is something on your bucket list?
A: “I would love to get the chance to fly over the Nazca lines in Peru.”
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Mortgage Rates are Unbelievable!
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Need a MORTGAGE OFFICER, an ELECTRICIAN, a PLUMBER, an INSURANCE AGENT, an ATTORNEY, a PEST CONTROL COMPANY, a POOL COMPANY, a DENTIST, a DOG WALKER, someone that is a TSHIRT MAKER, a custom CANOE BUILDER, or a RECLAIMED WOOD TABLE MAKER? If you need a GREAT CONNECTION, please call or email us anytime. We would love the opportunity to help you make a great connection!
If we can ever help you or someone that you know in real estate, please give us a call. We are grateful for your referrals. We strive to give our clients and friends
real value in everything that we do. Thank you for your time and support!
Brad Abernathy 770-540-1548 | Regina Cochran 678-414-0646
CJ Greene 770-540-5879 | Robert Bell 770-654-0507
Ricky Lewallen 770-654-7922 | Jane Fleming 770-519-2333
Abernathy Cochran Group | The Norton Agency
770-718-5255 or 770-536-1250
The Abernathy Cochran Group is the leader in Hall County sales volume in 2019
and for the previous 9 years, too. 10 years in a row!
You get MORE with our collaboration.
We hope you CHOOSE us to sell or buy your real estate.
THANK YOU!
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