Last Months report on the two neighborhoods and A Tale of Two Markets: Lies Damned Lies and Statistics generated a lot of interest, so I thought I do the same sort of analysis for another two zip codes that we service:
30188 is in Woodstock Georgia and if you look at the results for the entire area you’ll find that there are 196 Homes active today; 138 homes are under contract, and 960 sold in the last 6 months representing 160 sales a month on average. With only 196 available and 160 a month selling there’s under a 1.25 supply of hoes the market – an indicator of an extremely strong seller’s market (rising prices, few concessions granted.) The median sales price is $250,000. The median asking price is $439,383. Obviously, there’s a disconnect between what people are asking and whats actually selling.
For homes under $250,000 in 30118 the numbers are astounding 24 on the market, 62 under contract, and a 6 months average of 52 sales a month. This means that is you have a home under $250,000 in 30118 there is under a one-half month of supply available. For homes over $500,000 there are 46 on the market, 12 pending and an average of 5 selling a month; representing a 9 month supply of homes. SO while all the press is positive and median prices a rising home over $500,000 in 30188 take longer to sell.
For Zip Code 30114 (Canton) overall you see 258 homes for sale; 138 under contract and 53 homes selling each month. Median sales price is $249,480. Median asking price is $335,000. When you search just the under $250,000 homes in 30114 there are 63 homes actively marketed, 67 under contract, and 54 a month selling. This indicated a strong seller’s market with 1.2 months of inventory remaining. Over $500,000 we again see a shift: 34 homes on the market, 3 under contract and 4 selling a month. 9 months supply equals a buyers market.
Macro statistics are fine if you live in a macro world. When you’re selling a home you want to focus in on the area and neighborhood stats to help you figure out how to value your home when its time to move. Having an expert help you with this is what we do. With over 3200 happy clients we’d love to show you what we can do to have you become our next happy client. Check it out at www.superhappycliennts.com