There are a lot of Atlanta homes homes listed for sale in the Atlanta Multiple Listing Services or MLS. We have 2 Multiple listing services in Atlanta. In GAMLS they are reporting 115052 Active Atlanta home and condos listings and FMLS is reporting 84986 Properties Found. That is an awful lot of listings for this time of year. So that does not explain why we had so many listing calls in the last few weeks of home owners calling us to list their home for sale in late July. It doesn't make sense. Since the Atlanta real estate market is mostly a local real estate market and is now void of any major corporate relocation...it does nto make sense to sell a home with school starting in just a few weeks. When I mention that we had a lot of calls to list homes, it is more than just a few homes, it was almost 10 homes we were called to for price opinions and evaluations. We took only one listing out of the ten, because believe it or not only one home seller was realistic about selling their home. This is not the type of real estate market to pad home prices, or to list homes where home sellers mention..." I am not a serious home seller, I'm not in a rush, if I get my price I will sell..." That is not a motivated seller. There is no need there other than price. Serious home sellers that have taken a job out of state, or that are downsizing because of job reversal will listen to the real estate professional lay out the market conditions, competition, and offer strategies to sell their home. Sellers such as these will at least stand a chance of selling. Other home owners will deceive themselves into thinking a discounted commission and a sign in the ground is all they need. This is not a strategy, but a formula for dire consequences.
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Jim,
That is a ton of homes for sale! What is the average Days on Market for that much inventory?
Al thanks that is the nature of it! In the early 90's we used to work exclusively expired listings. We had great success with them after we picked and chose to list what we wanted.
Dan Not an easy answer for DOM...I know they are manipulated by expireds, and withdrawn listings. This year expired + withdrawn listings are exceeding the sold listings by 38%.