RSSRoswell and the Metro Atlanta Market Statistics
Single Family home sales in Roswell were up 30- 40% over the same period of the previous year in the 4th quarter of 2009.
That’s GREAT news!
Also Median Prices were up 5 - 19% over that same period.
The Foreclosures were 15 - 19 % of our sales in the Roswell area!
In the entire metropolitan Atlanta area, we really have two markets right now – above $300K and below $300K. 1sttime homebuyers made up half of the sales in the metro Atlanta area and are driving sales in the market under $300K. 56% of those sales were under $200K which reflects the large number of foreclosures and short sales that the buyers have snatched up.
As a total percentage of sales, foreclosures made up 27.4% of all sales which is down from the peak of 37.4% in Q1 ’09. What’s surprising is that foreclosures have doubled in the price range of $750K and up. Although there have been multiple factors influencing pricing in the market downturn, foreclosures have had the biggest impact on all price points.
Foreclosures are moving and inventories are shrinking which is a very good thing. Banks are doing a better job of pricing foreclosures to sell and they are responding much faster to offers. Foreclosures are hitting the market with aggressive pricing and even drawing multiple offers.
“Regular” resale homes are also moving. In many areas, including North Fulton, inventories are really low. Sellers considering a sale this spring should be prepared to come on the market asap! Competition will increase as we move into spring and pricing will continue to be extremely competitive, so the early birds will definitely win in this market.
The 4th Quarter was very strong and the spring buying season has hit Atlanta early. Uncle Sam is offering some significant bucks and buyers don’t want to miss out! Most buyers will qualify for either the $8K for first timers or $6,500 for almost everyone else! If you are interested in either, you should be looking right now. Homes must be under contract by April 30 in order to qualify.
With interest rates at historic lows, buyers are in the driver’s seat….and loving every minute of it. We see homes coming on the market in great condition and motivated sellers pricing their homes to sell. Buyers tend to be quite savvy and most can recognize a value when they see it. When the market price hits, homes sell.
Now….what does all of this mean for sellers who want to sell right now? Sellers have to decide whether to yank the Band-Aid off or suffer the slow pull. In other words, you can adjust to current market conditions quickly….or suffer a long, slow, painful process of chasing the market down! Homes that are priced too high remain on the market for months, sometimes many months. Keeping your house ready to show everyday coupled with ongoing carrying costs can make the process really tough!
What should a seller do right now? If you think you want to move, call us … let’s chat about what the market will bear.
Depending on the price, we may suggest one of the 3 “R”s –
Reduce – to meet the market and move on.
Rent – for many sellers, it makes sense to rent for the next few years.
Remain – it may be that remaining in your home makes the most sense.
It’s important to keep in mind that the Atlanta market….even during the good market….had home values that appreciated between 6%-8% per year. If you decide to remain in order to get the price you have in mind, you may need to be prepared to wait for a while. Remember, if you wait for the market to rise, you’ll pay more for whatever you buy then as well.
So what’s in store for 2010?
The housing market remains married to the employment situation. Most experts agree that Atlanta’s market looks promising through mid year. The uncertainties are unemployment rates, interest rates, and the impact of the tax credits expiration.
Always keep in mind that all real estate is local.
This continues to be true and will be more significant as we see buyers choosing the most desirable school districts, neighborhoods, etc.
We’re happy to let you know what’s going on in your area, so give us a call!
678 287 4802
Category: Roswell | 1 Comment »
“Summer of 2009 is coming to a close quickly and some of the best deals in a generation are leaving with it.”
That’s what one of our best market experts said recently. Our market is showing signs of positive change! The article that our own Ryan Ward wrote recently notes statistics that the market is turning around.
Here are some of those indicators of real changes for the better in the market:
- Positive year over year closings (more this year than last, sales volume is up).
- Total price declines are continuing to decrease and would almost disappear by precluding condos and townhomes.
- Average prices are up $43,000 from the low in February 2009.
- December of 2006 was the last time inventories were as low as they are right now!
- Expired listings are down - again. That’s nine straight months of decline.
We have helped many 1st time home buyers realize their dream this year. That $8,000 tax credit was huge for everyone of them. We have helped many folks downsize, upsize, and relocate to different areas. Understanding and educating on the specific market, knowing what our clients want, and making it a great experience for each one is our promise to our clients. Don’t let those BEST DEALS pass you by.
Call me …. let’s chat about it.
Denise Buchanan, Managing Broker and Team Leader 678.287.4802
Category: Roswell | No Comments »
Roswell Real Estate Rocks!
In Roswell, Alpharetta, Cumming, Norcross, Sandy Springs, Dunwoody, Marietta, North Metro Atlanta…. sales are hopping! WOW! We are selling homes. Congratulations to the Keller Williams Realty Consultants office in Roswell, GA. for a record month year to date. And for being the #1 office in the Southeast Region in Growth! You ROCK!
Category: Roswell | 1 Comment »
Welcome Roswell!
I’m proud to introduce the new website and blog for the Keller Williams Roswell Realty Consultants Office. This will be the most consumer forward facing website that we have and more importantly, this will be the best vehicle that we have to provide the largest number of consumers information about what is happening in Roswell, Alpharetta, Milton, Johns Creek and more.
We can use this to communicate the values of our office. Don’t underestimate the power of the internet.
As Gary Keller has quoted at the beginning of Tactic 6 in SHIFT:
“You can’t expect to meet the challenges of today with yesterday’s tools and expect to be in business tomorrow”
- Unknown
In the coming week, I will have all of the features operational on the blog including the ability to search Roswell homes for sale here and a seemlessly integrated photo gallery like that shown here and here.
The single image at the top will be turned into a slideshow of several local images of the Chattahoochee River, Dowtown Roswell and more. We will be able to inbed videos like this:
and otherwise put together information equal anything that any other real estate website and blog is capable of anywhere in the country.
Category: Roswell | 3 Comments »