I continue to be optimistic about the market in Peachtree Corners. We have experienced a strong spring and summer market.
If you have been or are thinking of putting your home on the market, this could be a great time. Tweak the condition of your home and remember beauty contest and price war are still the keys to selling your home.
There are currently 98 homes on the market in the 30092 area of Peachtree Corners. That is down from last month when there were 107 homes for sale.
In June 2012 there were 23 homes that sold. In comparison, only 11 homes sold in the same period of 2011. There are approximately 38 pending sales listed in Peachtree Corners. This is up from 33 pending sales in June.
The average price of a home that sold in June 2011 was $294,740 and the average price of a home that sold this year in June was $300,489.
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.
I have found it interesting that as inventory continues to drop, home prices have not reacted and increased as one would expect. In sharing market information with top agents around the country, I’m finding that many areas are experiencing the same concerns.
The numbers tell the story. If 98 homes are on the market and 23 sold in the past month one may conclude that if all factors remain the same it will take approximately four months to sell these homes. The average time to sell a home was 53 days that means there was fierce competition among those sellers.
Based on information from Gwinnett County Tax records there are currently 129 homes in some stage of foreclosure in ZIP Code 30092. A large number of these are condos and townhomes. Some owners will be able to catch up their mortgage payments, some will do short sales and some will be foreclosures.
It will be interesting to be able to report the values once our identity as a city is established and our city is recognized by the Realtors outside our market area. At present we use ZIP Code 30092 as our search criteria which gives an excellent picture 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 4164 Ancient Amber Way, Peachtree Corners, Georgia.