Community Corner
Using Winter Numbers as We Head Into Spring
Tough winter numbers are a guide post for how to sell and shop in the coming months
The market activity for the winter has been registered and filed. Those being aggressive in their sale approach succeeded and those waiting for the spring buyers market are here. A quick summary of the sales activity in the 30338 zip code implies a clear trend. Those homes which did not sell and the potential sellers who have joined or rejoined the market in anticipation of the spring rush should take note of the current competition.
Homes sold from Dec 1 to the first week of March totaled just 41 homes.
The current inventory of active homes for sale as of the first week of March total 163.
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Summary of Sold Homes: 41 homes sold, with prices ranging from $150,000 to $595,000. Realtors are praying that this reflects and displays a bottom for Dunwoody, however unfortunate for potential sellers.
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Number of Homes Sold Price Range
10 $595,000- $430,000
19 $370,000 - $300,000
10 $282,000 - $200,000
2 $199,000 - $150,000
The obvious grouping is between the high $300’s and $200,000. However, this data does not break out the specifics of bedrooms, bathrooms, garages and the other assorted amenities for each individual home and subdivision.
But it provides a pretty clear picture if you want your home to sell and it is consistent with the surrounding neighborhood. If your home is too far out of the range of reality your competition will be saying thank you.
As for the competition the following is the summary of the current inventory of homes for sale with the zip code 30338.
Homes currently listed as ‘actively for sale’ as of the first week of March, there are 162 homes with a price range of $152,900 to $1,089,000.
Homes on the Market Price Range
14 $1,089,000 - $600,000
16 $ 589,900 - $500,000
43 $ 495,000 - $404,000
52 $ 399,900 - $300,000
33 $ 299,900 - $200,000
8 $ 199,000 - $152,900
This summary again does not identify the specifics and amenities of each individual home and respective subdivision or school district, but does provide a significant basis for analysis and evaluation. Of the 162 homes for sale 128 are in the price range of $200,000 to the high $500,000s with eight additional homes below the $200,000 mark which could be presumed to have special circumstances related to them.
The real estate market values are continuing to decline at approximately 1 percent per month. It is readily obvious there is at least approximately four months of inventory currently available and does not take into account the Spring ‘shadow’ inventory getting ready to show itself.
As the seller you must get in front of the market and position yourself to make the buyers want to come to your door. Otherwise the buyer will go to the house the next street over.
As the buyer it appears the meat of the market is between $250,000 and $600,000. Depending of course on your specific needs, wants and desires and which ones you want to fill; the opportunities will be there and for some time to come.
