Hello, DeKalb friends! Are you thinking of buying or selling a home this summer? Understanding the local real estate market is key to making smart decisions—and that’s where I come in. Let’s break down what’s really happening right now in DeKalb and what it means for you.
Current Market Snapshot: A Strong Seller’s Market
With just 1.2 months of inventory available, DeKalb is experiencing a classic seller’s market. What does this mean for you? Simply put, there are more buyers than there are homes for sale. Sellers are at an advantage, often receiving multiple offers and seeing their homes sell quickly. For buyers, the takeaway is clear: when you find a home you love, don’t hesitate!
Homes Are Selling Fast!
Speed is the name of the game in today’s market. The median time on market is just 9 days—that’s barely over a week from listing to sale!
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Sellers: You can feel confident that your home won’t linger on the market.
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Buyers: Be prepared to move fast. Get pre-approved for a mortgage and work with an agent who can act quickly on your behalf.
Pricing: What to Expect in DeKalb
Right now, the median sold price for homes in DeKalb is $281,750. This is a great reference point whether you’re setting your list price or preparing to make an offer.
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Sellers: Listing at market value is a smart move.
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Buyers: Plan your budget based on current trends, and remember to factor in some flexibility.
Sold-to-List Price Ratio: What Are Homes Really Selling For?
Here’s some good news for sellers: The sold-to-list price ratio is 101%.
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This means that, on average, homes are selling for 1% above their asking price.
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Sellers: You’re likely to get very close to (or even above) your list price.
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Buyers: Be ready for competitive offers and consider making strong, clean bids.
Inventory Trends: Fewer Homes, Higher Demand
Inventory is continuing to drop in DeKalb:
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Down 2% in the last month
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Down 25% compared to last year
This ongoing decline in available homes reinforces the seller’s market. Whether you’re buying or selling, staying on top of these trends is crucial for strategic decisions.
What Does This Mean for You?
For Sellers:
It’s an excellent time to list your home. With limited competition and strong demand, you have the opportunity to sell quickly and potentially for more than your asking price.
For Buyers:
Preparation is everything. Get pre-approved, know your must-haves, and be ready to act as soon as the right property hits the market.
Need Guidance? I’m Here to Help!
Navigating the DeKalb real estate market can feel overwhelming, but you don’t have to do it alone. Whether you’re buying or selling, I’m here to offer personalized guidance every step of the way.
Ready to start your real estate journey?
Reach out to me, Miles Tischhauser, for expert advice and dedicated service. Together, we’ll make your move a success.
Frequently Asked Questions About the DeKalb Real Estate Market
Q1: What does “months of inventory” mean?
A: It’s a measure of how long it would take to sell all current homes on the market at the current sales pace. Lower inventory means a seller’s market.
Q2: Why are homes selling so quickly in DeKalb?
A: Strong buyer demand and limited inventory mean homes don’t stay on the market long.
Q3: Is it a good time to sell my home in DeKalb?
A: Yes! With high demand and low inventory, sellers are in a strong position.
Q4: How should buyers prepare in a competitive market?
A: Get pre-approved, set clear priorities, and work with an experienced agent to act quickly.
Q5: Are homes selling for more than their asking price?
A: On average, yes. The sold-to-list price ratio is about 101%, so homes are selling above asking price.
Q6: Who can I contact for more information or a personalized market analysis?
A: Contact Miles Tischhauser for expert guidance tailored to your needs.