Homes for Sale In Your Neighborhood

Throughout metro Atlanta there is  a familiar trend. More activity, fewer listings and values continue to decline. The decline in listings represents people who are taking their homes off the market for various reasons. Some of these people  will lease since they owe more than the homes will sale for. There are more short sales coming  on the market and as long as they are looming over the market, values will continue to decline.

In Berkeley Lake their are 15 active listings. The price range of these listings are from $250,000 to $759,000. Year-to-date 19 homes have sold in a range from $110,000 to $1,800,000. There is one pending sale which is listed at $700,000. There are nine distressed properties for sale. These are homes in some stage of the foreclosure process.

In the Peachtree Corners area there are  106 active listings. These are listed from $149,900 to $2,800,000. There are 19 homes that are under contract and of these, seven are short sales and waiting for lender approval. Year-to-date 121 homes have sold. These sold from $84,150 to $1,115,000.

In the 30092 ZIP code there are 129 homes in some stage of foreclosure. Some of these will be able to avoid foreclosure by either selling as short sales or sellers circumstances changing and the seller being able to catch payments up.

Of the existing inventory of homes on the market only about 17 percent will sell without a list price reduction prior to an offer. I have included two graphs that show this percentage and how it works. This is a fairly constant number.

According to our listing service year to date 4,806 homes have sold in Gwinnett County with an average price of $145,000. In 2010 at this same point in time 6,696 homes had sold with an average price of $156,000

Homes just listed are:

5276 Fern Park Court 
5090 Bankside Way.

There will be an open house at:

4278 Allenhurst Drive, Sunday Nov. 6, from 2:00 to 5:00 p.m.
5090 Bankside Way (a new listing) will be open Sunday, Nov. 6, from 2:00 to 4:00 p.m.

 Editor's note: Nancy Minor is a Realtor with . Her office is located in Peachtree Corners.