As your local Fayetteville mortgage broker, our Homestar financial team is always aware of the new residential market trends. With this knowledge, we can keep you up to date with the fluctuation of home prices and let you know about the potential change in the Fayetteville mortgage rates. With the market continuously escalating, there has been a consistent increase in the current home prices compared to three years ago.
According to Realtor.com, the median listing price in Atlanta has consistently increased from February 2015 to February 2018. Three years ago, this listing price was $220,000 and has since increased about 41%, with the current price at $310,000. The price per square footage has had a 25% increase in January 2015 priced at $148 to now being $185. The median days on the market, however, had a 9% decrease over the last three years. This decline in how long homes are being sold for could be in direct relation to the accretion in prices. Buyers might be putting a hold on purchasing a home in order to save more money.
In Fayetteville, Georgia, Realtor.com shows similar trends in the market in comparison with Atlanta. In February 2015, the median listing price was $259,034 and has since increased over 13% to $293,000. The median price per square footage has increased almost 17% over the past three years, with the current price per square foot being $104 and by February 2015 the price was $89. This could suggest that the real estate in Fayetteville is becoming more valuable, which could contribute to the rise in the median listing price.
If you are in the market for an Atlanta or Fayetteville mortgage and are wanting to get started on the loan process today, please contact Jeff Wilmoth at 404-597-5662 or Jeff@JeffWilmoth.com.