According to the latest estimates, the U.S. is facing a housing shortfall of several million homes. That means there are far more people looking to buy (demand) than there are homes for sale (supply). That mismatch is the key reason why prices won’t fall at the national level.
The 2024 Presidential election is just months away. As someone who’s thinking about potentially buying or selling a home, you’re probably curious about what effect, if any, elections have on the housing market. It’s a great question because buying or selling a home is a major decision, and it’s natural to wonder how such a major event might impact your plans. Historically, Presidential … Read More
Our company typically chooses to spotlight another local business, but this month, the business we had lined up for July had to reschedule the article. This gave us an opportunity to provide an update on two real estate topics. First, to explain the trends we are seeing in our local market this year and second, … Read More
If you’re trying to find a house to buy, this may be something you’re wondering about. Maybe you’ve read about it or seen reels on social media saying investors buying all the homes is making it even harder to find what the average buyer is looking for.
We have found that people have very contrasting opinions on home prices in the current market. Many feel that prices are coming down due to the higher interest rates while others believe that prices are rising due to the low supply of homes for sale. The truth is, prices are still going up but not as fast they were in 2020 and 2021. For example, in 2020 the average home price in Clarke County was $258,000. By the end of 2022, the average home sale price was $356,000 representing a 38% increase in just two years. As of November 30th, the average home sale price in 2023 was $377,000 which represents a 6% increase from 2022 which is more in line with historical rates of appreciation.
Well, it is that time of year again when the temperature gets hot here in Athens, and everyone is anxiously awaiting the return of cooler air and Georgia football. If you’re reading this, then you have probably read some of my posts in the past. I am big fan of Georgia football as are many of our realtors at our company, 5Market Realty.
As of late, Georgia fans have been blessed to watch their team experience so much success. There have been so many big plays that it was hard to pick just 10 moments and then rank them accordingly. While some of you will disagree, that’s the fun part. Feel free to tell me where I got it wrong, but listed below are the Top 10 moments in my view.
At 5Market Realty, we like to spotlight and support other businesses in our community whenever possible. In the February issue of Stroll 5 Points, we are spotlighted Bitty and Beau’s coffee which is owned and operated by Mike and Diana Langhorne. Located on Lumpkin Street between campus and 5 Points
Due to the rapid appreciation of real estate and a higher interest rate climate these days, everyone has an opinion about the real estate market- some good and some bad. The market is different today, but not in the ways most people think. Here are some questions our agents have been receiving along with our response.
If you’re reading headlines about inflation or mortgage rates, you may see something about the recent decision from the Federal Reserve (the Fed). But what does it mean for you, the housing market, and your plans to buy a home? Here’s what you need to know.
