Buying a home is a big investment that no one should take lightly. One of the best ways to know if you should consider buying a home in this current market is simply to consider the real estate market and its trends carefully. It’s important to know if you should buy a home, what you can expect in the coming months and years in terms of value, and whether or not current conditions match your needs. For Athens, Alabama real estate buyers, it’s important to look at current market trends.
What You’ll Find in Athens Today
The latest information as of December of 2016 shows a great deal of information about the current condition of the real estate market in Athens. For example, it is likely that you’ll find the home you want here. With more than 300 homes listed for sale, this is a clear indication that the area’s market is healthy for buyers. The area does have a few homes listed as foreclosures and pre-foreclosures, but not many.
How much will a home sold here cost you? As of this time, the median sale price of a home was $182,000. That is about a 41 percent increase from the same time in 2015. That’s an outstanding level of growth in value. And, it is due to the numerous people moving into the community through new construction, condos, townhomes, and demand for single family homes. The average price per square foot remains very affordable at only $67 per square foot. This is about 6 percent higher than the same time in 2015.
But, think about this. It will likely cost you over $1000 a month to rent a home here. With that amount, you could be paying for your own home through a mortgage. That’s one of the biggest reasons to consider working with an Athens real estate agent to buy your next home for sale.