It's back-to-school time which puts the real estate market to sleep for a couple of weeks. There will still be some activity but many will be shopping for school clothes and supplies with their mind on little else.
There were 17 homes sold in July, 2012. That is down from 23 in June but much better than July of 2011 when 14 homes were sold. There are 33 homes under contract down from 38 homes last month.
The average price of a home that sold in July, 2011 was $265,929 and the average price of a home that sold this year in July was $314,788. This is good sign for the market with more homes sold than last year plus a 15 percent rise in price.
Days on the market for homes that were priced properly, averaged 53 days and homes were selling at 96 percent of list price. In 2011 for the month of June the average number of days on the market was 81.
July closed out with 94 homes still on the market. As reported above there were 17 homes sold in the past month. If all factors remain the same, it will take approximately four months to sell these homes. This has been steady for the past couple of months.
Based on information from Gwinnett County Tax records, there are currently 112 homes in some stage of foreclosure in ZIP Code 30092. That represents a drop of approximately 9 percent since June. A large number of these are condos and townhomes. Some will be able to catch up their mortgage payments, some will do short sales and some will be foreclosures.
At present I use ZIP Code 30092 as my search criteria which gives me an excellent cross section of the Peachtree Corners market.
This information was obtained in part from the First Multiple Listing Service (FMLS) which is not responsible for its accuracy.
New on the market this week in Peachtree Corners: