As the school year is about to begin we are wrapping up the peak selling season in our Local Market, which covers the Centennial High School district located in Roswell, Alpharetta and Johns Creek. Real Estate has been a hot topic in our community and we hope our updates keep you informed of the latest trends.
Our Local Market sold 51 homes in July compared to 73 last year. While we saw a deceleration from June and the prior year, we are above the 5-year trend.
Great news on the pricing! Average sales price for our Local Market continues to see gains and reached $413,280 for July, up over $10,000 compared to last month!
July had 186 active listings compared to 177 last year. We will be paying close attention to overall inventory and the amount of time homes are taking to sell as we move forward.
JULY LOCAL MARKET TRENDS
There are few neighborhoods that fall in our Local Market like St. Regis, Woodvale, Studdiford, Woodfield, and others that were not included in our Local Market Trend table above due to a lack of data for the month. We will publish Year To Date analysis and detailed update in our August report, so stay tuned!
LUXURY MARKET NEWS
The Luxury Market had 107 active listings in July, which is a new 5-year high. We were the first to highlight the increasing supply of homes at this price point. While the Luxury Market remains a BUYERS market, with 8 months of inventory, homes that are update and/or have premium locations are still in demand.
New construction and an increase of listing supply will require Sellers in the Luxury Market to carefully study the condition and location of their property when finding the right price point to SELL their home. We are always here to provide you a comprehensive analysis and study if your looking to list your home.
We have seen success with our moderate to Luxury listings in Oxford Mill, Willow Springs, Thornberry, Haynes Landing and other key neighborhoods despite higher levels of inventory! By working closely with our clients to ensure their properties shine, we have a number of happy clients this Summer.
We are fortunate to offer one of the best lifestyles in Metro Atlanta from shopping and entertainment venues, Newtown Park, Avalon, access to 400, Historic Roswell, Downtown Alpharetta, and the list goes on.
We are constantly publishing local real estate trends and tips that you can find on our web site and on our Facebook page. Have a great Summer and hope to see you out in the community!
– Robin
[fusion_builder_container hundred_percent=”yes” overflow=”visible”][fusion_builder_row][fusion_builder_column type=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”no” center_content=”no” min_height=”none”]
All data based on FMLS: July 31, 2016 for Centennial High School District or referenced neighborhood.
[/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]