This post was contributed by a community member. The views expressed here are the author's own.

Business & Tech

It's Spring Break for Real Estate Market

Buyers and sellers leave town for spring break. So just as we see less traffic we see fewer buyers. That should change in a few days as we swing into the Spring market.

Spring break continues which brings a very quiet real estate market and very few Open Houses. Check back next week as the market returns to the Spring market we have been enjoying.

Market update for Peachtree Corners and Berkeley Lake:

Make sure you ready for the spring market. The end of spring break should be the beginning of our selling season.How do you compete? Know your numbers and your competition. There are currently 148 single family homes on the market. Twelve homes are Pending Sales and 138 homes sold and closed in the past 12 months.

The absorption rate or the estimated time it will take to sell the current inventory is 12.9 months. Berkeley Lake currently has 16 homes on the market according to the First Multiple Listing Service. Two home are under contract and pending sale. Fifteen homes sold in the past 12 months. A little math tells me that it will take 12.8 months to sell the current inventory. Both communities have a completely different set of numbers but both come out within days of each other in the time it will take to sell the inventory or 12.9 vs. 12.8 months.

How do homeowners improve their chances of a quick sale? Hire an agent who knows the local market. Price your home at or below the current market value. Have your home as close to show room condition as possible. The days of pricing your home 10 to 20 percent above the market and waiting for a buyer changed for the Peachree Corners and Berkeley Lake area about August of 2007.  Today if you price above the market, you could very well chase the market instead of being at the price and condition of homes of similar market value. In former markets we could wait an extra couple of months for the market to catch up to our price.

We will just have to wait and see the short term affect of the repairs on Berkeley Dam will  have on the market. Once the repairs are made and the water level is up, memories of the hassles will fade quickly for all concerned.

Interested in local real estate?Subscribe to Patch's new newsletter to be the first to know about open houses, new listings and more.

We’ve removed the ability to reply as we work to make improvements. Learn more here

The views expressed in this post are the author's own. Want to post on Patch?

More from Peachtree Corners