North Fulton Continues to Experience Strong Home Sales

"Home sales have been a hot topic for the past year," says Kelly Stephens, managing broker of Engel & Völkers Atlanta North Fulton and Engel & Völkers Buckhead Atlanta . "As the pandemic forced us to work, learn, exercise, entertain ourselves and more from home, many discovered their homes fell short of meeting their evolving needs. The desire for more room and functional space, in conjunction with low interest rates fueled a home-buying spree. Over time, the supply-demand ratio pushed home prices higher and higher, prompting even more homeowners to capitalize on inflated equity by selling and moving into a new home."

Stephens notes that in North Fulton, greater Atlanta and across the country, the sharp increase in the number of would-be home buyers quickly created a seller’s market with inadequate inventory. Available homes generated multiple offers from buyers and did not stay on the market for long, creating the idea that there were simply no homes to buy.

"An examination of the numbers, however, disproves the rumor that there are no homes for sale in our area," says Stephens. "Reviewing at the FMLS (First Multiple Listing Service), it’s evident that many homes have been purchased recently. From May 1 – May 13 of this year, FMLS for the 14-county metro Atlanta area reports:

• 2,375 closings
• 4,414 new contracts
• 4,511 new listings

Looking ahead, it’s safe to predict May will see almost 10,000 closings in greater Atlanta, setting a record for the most homes closed in a single May in the last 10 years. So, even though homes may generate multiple offers and buyers need to be prepared to act quickly, the rumor that there are no available homes around Atlanta is obviously false."