Recent Roswell Real Estate Activity + Market Update
We are getting a lot of calls lately on what is going on with the market and our response is: now is still a good time to sell! While many believe spring and summer are the best times of the year to put your home on the market, the reality is that during the winter, we see a lot of company relocation activity and have had a long track record of taking advantage of the colder months for our listing clients.
Those looking to sell in the next 12 months have an important decision to make. Do you take advantage of the market today, while softer, or do you believe the market will be stronger this summer or fall? The majority of our clients have been electing to list now to avoid potential risks as we enter 2023.
We got our two most recent listings in Horseshoe Bend and Country Club of Roswell – Willow Springs under contract in a matter of days, compared to the market average, which is around 1 month. We believe our marketing platform, ability to help our clients properly prepare their homes so they shine, and local market expertise continue to allow us to sell our listings faster and for a higher price.
Check out the latest Roswell listings here: https://robinmartinassoc.com/roswell/
The Metro Atlanta market for November shows that the market continues to cool compared to last year. New listings are down 19% but the number of active listings are up 80%. Thus, supply is up and demand is down.
This is further validated by the months of supply, which is now 3.1, compared to only 1 month a year ago. While anything under 6 months is considered a seller’s market, the sizable step up to 3 months is noteworthy. Also, you can see the number of days a listing takes to go under contract has doubled to now 20 days on market.
The other data points we want to share are that the median sales price to original list price is now around 97%, compared to 100% in November of 2021. This corresponds with the fact that 45% of listings have to do a price reduction, which has doubled compared to last year and 1 out of 3 listings now are failing to sell.
If you’re looking to sell in today’s market, we advise against using free online tools and discounters, as they are not reliable resources. We are getting a number of calls from frustrated sellers of failed listings and the bulk of these are coming from discounters, or those that relied on free online home valuation estimates.
We are always here to help! If you have any questions, please reach out to us.