Community Corner
It's Spring Break But Not For Home Sales
The market continues to be very active. Homes priced at or close to market price are seeing offers in the first week on the market. In some cases sellers are seeing multiple offers.
Last month we told you the the home real estate market was hot. It is now sizzling. The demand for homes has soared and the biggest challenge facing agents is lack of homes to show their buyers.
With this low inventory we inch closer to a seller’s market in Peachtree Corners. There are currently 84 homes on the market in the city. Compare this with the same time last year when there were approximately 110 homes on the market. The exciting news is that 55 homes are under contract and are scheduled to close in the near future.
There is a 3.9 month supply of homes available for sale. That has not changed since last month.
Find out what's happening in Peachtree Cornerswith free, real-time updates from Patch.
Many experts in the real estate industry feel that a market with a three to six month supply of homes is in balance. This means that the market does not favor the buyer or seller. However, when the supply of homes drops below a three-month supply it clearly becomes a seller's market.
Last week we had our second Peachtree Corners Trivia challenge. Due to Easter and Spring Break we decided to extend our challenge to April 11th, 2013. The winner will get a nice surprise and their name and photo, (if they wish) in the Patch. No one has guessed the resident who has lived in Peachtree Corners the longest. Do you know? Go to http://patch.com/A-3m4J and take the challenge.
Find out what's happening in Peachtree Cornerswith free, real-time updates from Patch.
New on the market this week:
4592 Outer Bank Drive This 4 bedroom and 4 bath home is priced at $365,000.
4084 Nobleman Point This 5 bedroom and 4 bath home is priced at $535,000