December 2012 Market Update

The holidays are upon us and we are hopeful that you will get some special time for relaxing and enjoying your family and friends.  We’re keeping a close eye on the market because our listings have been flying off the shelf when they are in excellent condition and priced competitively in the market!  Recently, we had a home in Duluth go under contract in 14 days and it is selling for 99% of the listed price.  Here are some interesting statistics on a few of our counties from Georgia MLS for Single Family Home activity in October 2012:

Gwinnett:  Average list price in 2011 was $134,624 compared to the average list price of $152,883 in 2012.  Average sold price was $128,994 in 2011 compared to $148,975 in 2012.

Forsyth:  Average List price in 2011 was $246,766 compared to the average list price of $277,936 in 2012.  Average sold price was $232,436 in 2011 compared to $268,613 in 2012.

In Gwinnett and Forsyth and most other counties in the Metro Atlanta area, the average list price and average sold prices from 2011 to 2012 have shown a definite increase.  Hall county statistics for October do not reflect an improvement yet in sold prices in the year to year comparison for last month.  We feel confident that will change in Hall as well over the coming months. 

Another notable statistic is that there were 2226 Active Listings in Gwinnett this week with another 1199 under contract.  The average list price for the properties under contract is $163,686.  From our perspective, our inventory is running around three months of supply in Gwinnett.  What does this mean to you?  If you have a reason or strong desire to sell, this is the time to reach out and call us to see what the detail would look like.  Selling a home in this market makes the most sense when you have a strong desire or need to sell.  Those reasons frequently include:  increased size in family, decreased size in family, life change, marriage, divorce, death, or just a desire to be in a different neighborhood.  

Please let us know if you need more information to make a good decision by sending an email to admin.cbunch@kw.com or calling 678-775-2605.

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