CENTENNIAL REAL ESTATE REVIEW | AUGUST 2018
Our local housing market, which is the Centennial High School district in Roswell, Alpharetta, and Johns Creek, continues to rise in terms of selling prices. We noted in our 2017 Winter and our prior 2018 editions that the number of homes SOLD might be down but expected stable pricing trends, and so far our outlook has panned out. Having a pulse on our community and being able to see trends is something we focus on for our clients and followers.
Trend Highlights
Year to date (6/22/18), Homes Sold in our market were down 9% and the Average Sold price was up 1%, compared to the same period last year. Homes are selling faster with Days on Market now at 30 days on average compared to 39. For attached homes (condos/townhomes), the number of units Sold was down 42% and the Average Sold price was down 4%.
Discount Trends
Roughly 3% of the homes Sold in our local market year to date used Discount Agent/Brokers. On average the selling price was 2% lower and they took 38% longer to sell.
Looking at the last 12 months, Discount Agent/ Brokers average selling price was 5% lower, their average price to the original list was a full 3% lower and they took 30% longer to sell. The numbers tell us using full-service agents with the typical commission will not only net you more money at the closing table, but your home will also sell quicker!
Industry Chatter
Our fellow agents and local industry experts are starting to ask, “How much longer can our housing market continue to improve before the next possible downturn?” This is a healthy conversation and you can see in our frequent updates that the number of homes sold has been trending down. Strong price appreciation and rising rates are two areas we see that are likely contributing to the slow down in the number of homes sold.
And while we have a point of view on the latest Fulton County property tax increases, we will simply note that a proper balance between taxes and the services provided at all levels of Government are critical in sustaining and improving our community and can impact the health of our community. An imbalance in this equation can deter new buyers to other counties or cause existing homeowners to relocate.
Personal Note
By the time you receive this, Summer will be coming to an end and a new school year will be around the corner. We want to say farewell to a couple of our cornerstone neighbors that recently passed away. J.B. Queen and Richard Hopper loved our community and were amazing examples of paying it forward. Their kind smiles and dedication to our community will be missed.
There are so many amazing ways to give back to our community and neighbors. This Summer, my son and I spent time volunteering with the Young Men’s Service League Centennial Chapter, which fits into our Giving Local focus. This is a great Mother and Son platform to not only do something good but carve out time in our busy schedules to spend quality time with our kids.
We are fortunate to live in one the best lifestyle communities in North Atlanta. We encourage all of you to stay engaged in your neighborhood and with our local leadership to push for continued and smart progress into our public resources and development.
Call us at (678) 665-0202 or email us at robin@robinmartinassoc.com if you have any questions.
