The fall season is officially here, which means it’s time to indulge in delicious food, relax outside in the cooler weather, witness the leaves changing colors, and explore all the local pumpkin patches. This time of year is magical for some people, which can really get consumers in the home buying spirit. Who wouldn’t want to spend this time of year in a brand new home, celebrating the holidays with the ones they love?
Buying a home now means you could also benefit from low-interest rates from your Atlanta mortgage lender. So, to help you get started in the home buying process, your local lenders with Milend, Inc. have listed the most current market update for the Atlanta and Alpharetta area.
Atlanta Market Update
According to realtor.com, the median listing price for the Atlanta region has been increasing annually over the past three years. In October 2015, the median listing price was $269,900 and increased 11.2% the following year to $300,000. By October 2017, the median listing price was $339,900 and the current median listing price is $350,000, which is approximately a 3% increase from the previous year and a 29.7% increase since October 2015.
With the median listing prices continuously on the rise, you may want to consider locking in an interest rate with your Atlanta mortgage lender now before they get even more expensive in the near future.
Alpharetta Market Update
Median listing home prices are a little more expensive in Alpharetta than in Atlanta, however, the increasing trend in listing price is consistent amongst both cities. In October 2015, the median listing price was $425,000 and increased 11.8% the following year to $475,000. By October 2017, the median listing price for Alpharetta was $495,000 and one year later the median price increased only slightly to $497,400.
For more details on the market update for the Atlanta and Alpharetta region or to get started on your Atlanta mortgage application today, please contact the Milend, Inc. team at 855-645-3631.