Year-to-Date Real Estate Activity in Peachtree Corners

The market remains consistant with June. On a positive note showing activity has picked up in all price ranges. Offers are coming in and homes are selling in Peachtree Corners.

July is typically a good month for real estate sales in the area and this year was no exception. Homes from the spring and summer markets that are under contract are closing at this time of the year. As you can see from the chart, there is constant activity throughout the year.

So if you, as a buyer or seller missed the spring or summer market it certainly does not mean you should wait on the side lines until next year to buy or sell. Buyers are out there and needless to say there is an abundance of inventory.

The number of homes currently on the market in Peachtree Corners is 151. Eighty-seven homes were sold as of July 31, 2011. There is currently a 12 month supply of homes for sale in Peachtree Corners. That is down from a 13 month supply just last month.

Behind the current real estate market and a drag on growth are the foreclosures on the market as well as the threat of future foreclosures. When I run a report for foreclosures in a one mile radius of my office at 3930 E. Jones bridge Rd, I see no new foreclosures reported in the past 90 days, there are four bank-owned properties for sale and 16 homeowners have received notices of foreclosure proceeding from their lender. Many of these people will be able to avoid foreclosure but a percentage will not.

It is amazing what just a couple of miles will do to the statistics. When I run the above report with a 3 mile radius of my office 16 foreclosures are reported, 33 bank owned sales, 8 U.S. Government sales, 33 bank-owned properties for sale and 165 homeowners behind on their payments and may face foreclosure.