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Is Now the Time to Buy a Home in Athens, Alabama?

Buying a home is a big decision that many people weigh very carefully. Potential home buyers often ask themselves, “should I buy now, or wait? Will market conditions get better for me later?” There are many factors to consider before making the decision to buy a home here or anywhere. In Athens, the real estate market is doing well, and due to the demand for homes in this area, there are plenty of opportunities available to most people. It is important for home buyers to take a closer look at what their needs are and then to look for a property that’s right for them. The benefits of buying now are numerous.

Athens Home in Metes and Bounds

Athens Home in Metes and Bounds | Image Provided by NALMLS

Athens Market Conditions Are Ripe

Athens’ real estate market is very much a buyer’s market. That means you may be able to find a home you are interested in that’s within your budget. You may be able to negotiate rates and you are likely to see multiple options to choose from. As of October of 2016, there were 340 homes on the market for sale in Athens. These are single family homes.

But, what about home value? According to the latest reports, home values in Athens are doing well. Today, the median list price for a home here is about $200,000. Last year at this time, that value was $199,900. The median days on the market is about 100 which is a bit better than last year. Still, it does take some time for homes to sell here, which means buyers can take their time to find the perfect home.

Athens Mortgage Conditions Are Ideal

Sometimes, it is not about changes in the real estate market, but in the financial markets, that play a difference in when you should buy. Homes for sale in Athens are nearly always purchased with a mortgage. Right now, lenders in the area have lower interest rates than on average. They also have a wide range of loan programs.

To find out if you should buy a home in Athens right now, contact the Amanda Howard Team. Our Athens experts can work with you to identify your goals and needs, and help you find the best property to meet them.

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