Where Is The Local Market Headed?

Your view of the market is likely influenced by personal experience buying or selling, conversations with friends going through the process, media news reports and/or hearsay.

Proclamations I often hear include:

  • There is a shortage of homes for sale, and it is getting worse
  • It is a seller’s market…no better time to sell
  • The luxury market is suffering
  • Prices have been driven too high too fast…a shift is coming

It is important to keep in mind that the real estate market is both location and price sensitive. With that said, what do these year-over-year charts have to say about the resale market for Walton High School homes in East Side, Mt Bethel, Sope Creek and Timber Ridge Elementary Schools priced in the $7 and $8 hundreds?

Walton 10 Yr July Resales $700s

Walton 10 Yr July Resales $800s

First, the numbers are relatively small as defined by this criteria and therefore challenging to accurately forecast a trend. With that said, the activity appears fairly consistent with 2008 and 2009 being the exceptions as explained by the housing market recession being in fully involved at that time. I believe the Walton High School portion of East Cobb is a bit buffered from the national and metro trends.

I’m often asked, “When is the best time to sell?” It seems the inquirer is looking for a seasonal answer; i.e., spring, summer, etc. In my opinion the best time to sell is when you are ready. And when you are ready please give us a call to schedule a conversation so that we can accurately assess your home given its condition relative to recent sales and pending listings that are deemed similar. Don’t rely solely on the county assessed value, online valuations like Zestimate, or the price of the house next door.

Be sure to visit our Miller Group Realty website for additional micro market stats for our core area and price range.

 

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