Our Neighborhood Market Update
Hi Neighbor! I'm Stella and I live right here in our awesome neighborhood, in the Conley Downs subdivision. I met you a few days ago and mentioned I would start a quarterly monthly market blog to keep my neighbors up to date on the real estate market and how it may affect are lovely homes. Thanks for giving me permission to add you to the updates. I don't like to bombard with too many emails so these will appear in your inbox only quarterly, unless there's a demand for more updates and I'll happily oblige. You can also email me directly with questions.
Basically neighbors, it is still a seller's market, as it has been for the past few years. However, the great news for buyers is that interest rates remain low which helps with affordability with rising home costs. Another great news for buyers is that there are more great programs for 1st time home buyers! Most of us in this neighborhood are not first time home buyers, but you can pass this information along to friends and family that may be looking to buy the first time. Also, the federal government just enacted programs to make getting loans much easier for new home buyers interested in buying condos and town homes. Please feel free to email me if you'd like specifics about this for yourself or for someone else.
And now for our neighborhood....Below here some homes that have sold and what they've sold for in the last 120 days. We also have one that is currently active on the market. The good news is that our homes continue to appreciate and remain good investments for us. We are a great community with great schools so we have GREAT neighborhood ratings for interested buyers.
The following analyses are for homes in our neighborhood within .5 miles of Conley Downs:
Homes do not go on sale very often in our neighborhood but as of today's blog, there is one home actively for sale in Addies Pond with 4 bedrooms, and 3 baths, listed currently for $438,900. Home sales normally begin to slow down once the school year has begun. But we do anticipate a steady market through the winter.
In the last 120 days, we've had 10 Homes Sold within our neighborhood (within .5 miles of Conley Downs):
ASBURY PARK Subdivision, closed on 7/22/2019, 4 Bedrooms, 3 baths, Sold for $315,900.
Conley Downs Subdivision, closed 6/21/2019, 4BD, 3 Baths, Sold for $275,000.
Halstead Lake Subdivision, closed 6/21/2019, 4BD, 2.5 Baths, Sold for $285,000.
Friendship Church Rd, closed 6/28/2019, 3 BD, 1 Bath, Sold for $195,600.
Asbury Park Subdivision, closed on 7/22/2019, 4 BD, 3 Baths, Sold for $312,500.
Lavilla Estates Subdivision, closed on 05-10-2019 3 BD, 3 Ba, Sold for $212,000
Parsons Greene Subdivision, closed on 03-08-2019, 3 BD, 2 Ba, Sold for $258,000
Sandy Glen Subdivision, closed on 04-22-2019, 3BD, 3 Ba, 1HB, Sold for $271,000
Sandy Glen Subdivision, closed on 05-17-2019, 3BD, 2Ba, 1HB, Sold for $292,000
Addies Pond Subdivision, closed on 03-26-2019, 5BD, 4Ba, Sold for $380,000
Average List Price of Homes in our Neighborhood is $291,
Average Sales Price of Homes in our Neighborhood is $278,909
Of course each home is different and so the sales prices will reflect what each home has to offer to differentiate. I'm happy to provide more specifics, again just reach out to me by email.
For the state as a whole, Georgia's housing market continued on a positive track and steady pace for the month of July. These are the top 5 monthly indicators used to track the market for Georgia:
1. New Listings decreased 7 percent to 18,416. (This is normal as new listings tend to decrease the month of back to school historically).
2. Pending Sales were up 7 percent to 13,286.
3. Inventory levels were flat, with a 0.3 percent decrease to 45,242 units in the state.
This low home inventory is also reflected in our neighborhood (which is why I was knocking your door :). Thank you again neighbors for being so kind to me out there!
4. Median Sales Price increased 4.5 percent to $235,000. Sales prices have also steadily increased in our neighborhood, but the increase is expected to slow down 1st or 2nd Quarter of 2020.
5. Days on Market was down 8 percent to 48 days. Months Supply of Inventory was down 5 percent to 3.9 months.
We live in a fun community and there are always things to do. Here are some of my favorite links to events happening in Marietta and Cobb County:
Here's one of my favorite links for all of Cobb County:
Cobb County School Calendar:
Marietta City School Calendar
Marietta Private Schools
I hope this property market update for our neighborhood is helpful. For the next update, please let me know what else you'd like me to include.
Stella Whitaker, Realtor
Keller Williams Signature Partners
Direct: 678 684-8081
Office 678 631-1700