The residential real estate market can tip back and forth between a buyer’s and seller’s market, but currently the scale favors the seller in many key areas.

It’s simple economics, when inventory is low prices rise in favor of those who hold the inventory. In Atlanta spring and summer are usually peak times for listings, but since 2008 the number of homes on the market has cut in half hovering at the new normal for about a year. There’s much less competition in the market place making it a great time to list.

The same economic principle applies to price. Since the inventory is currently low, sellers have been getting top dollar for their homes making the median sale price in Atlanta around $242,000 from March to date. This median price is close to the peak average since 2000 and prices haven’t been this high since May of 2009. To gain an even higher price for your home, Clark Howard suggests offering a home warranty to boost profits by an additional $2,300.

The average days on the market is currently 64 days, which is about a quarter less time on the market than the same time last year. Buyers are motivated and moving quickly due to inventory. They are snagging their dream house faster than ever!

If you’ve been considering listing, now is the time to sell! Click here to check your current home value and neighborhood information. If you are ready to list, The Anderson Group offers a great guide, 7 Free Seller Tips, so you can avoid making costly mistakes.

Image Credit: The Beach Team