A couple of interesting points to make after collecting and viewing the most recent Walton monthly data for single family detached resales.
The normal shape of the line chart representing the number of Walton Active Listings in all price ranges changed in 2020. The typical cyclical trend is represented by a steep increase early in the year, peaking early to mid summer, and then slowly declining through the remainder of the year. This year’s activity still had the mid-year bell shaped curve one would expect however it never reached the early summer highs of previous years. The later half of 2020 thus far has shown the same general rate of decline although reaching a low not seen over the past four years. The same narrative applies to the higher value ($600k+) Walton market.
New construction Active Listings (that includes under construction and to be built) numbers were fairly consistent from Oct ’16 through Oct ’19. Since then the number of Active Listings have been declining.
Comparing the number of Active Listings (inventory) for the month of October, going back to 2015, it appears that seller’s of higher value ($600k+) homes had a more difficult time attracting buyers. Specifically, about 65% of all Active Listings in Oct ’20 were over $600k compared to the fairly consistent 45% experienced in the previous five Octobers.
Where to look if planning to make a Walton purchase in East Side, Mount Bethel, Sope Creek or Timber Ridge:
under $600k in Mount Bethel and East Side
$600s in East Side and Sope Creek
$700s in Mount Bethel and Sope Creek
$800s – $1m in East Side and Sope Creek
$1m – $1.5m in East Side and Sope Creek
over $1.5m in Sope Creek
Buyers not finding their ideal Walton home should approach Brady to discuss their situation. Perhaps his exclusive hyperlocal focus can best prepare the buyer to make a successful offer on a new listing as well as to identify potential off market properties.
The featured image charts the cumulative number of Walton High School resale binding contracts in East Side, Mt Bethel, Sope Creek and Timber Ridge priced over $600k through Week 43 (ending Oct 23rd for this year) for years 2015 -2020.
Which line represents 2020?
Hint…2020 is like The Little Engine That Could, the black line, steadily out performing previous years. Few would have forecasted this back in March and April when the pandemic was increasingly spreading, businesses were closing and unemployment filings began to skyrocket.
Buyers have little to choose from the remaining Active Listings. And, homeowners with an Active Listing have to be asking themselves, “Why is my house not selling?”.
The following quantifies the feelings. Given the above criteria, the average Active Listing FMLS Total Days On Market is 129. However, and in comparison, MGR research reveals that homeowners first went public with their sales effort almost 250 days on average (after removing the top and bottom 10% of the Active Listings when ranked by TDOM).
See these and other weekly tracking illustrations by clicking here. And contact Brady to discuss the particulars of your ideal Walton or East Cobb home search, or to discuss the prospects of selling in the current market environment.
Is “Walton High School Inventory Low” a statement or question?
I heard it again today, the “it” being that metro Atlanta inventory is low. While that relative fact is important to some, it does not really reflect the MGR market; i.e., the Walton single family detached resales over $600k in East Side, Mount Bethel, Sope Creek and Timber Ridge. The following charts and table illustrate the point. Continue reading “Walton High School Inventory Low (!?)”→
WaltonStats.com is the easy to remember and the most direct way to obtain monthly and quarterly Walton High School housing market stats for single family detached resale listings priced over $600,000 in the four elementary schools of East Side, Mount Bethel, Sope Creek and Timber Ridge. This level of detail is possible because it represents the exclusive focus of Miller Group Realty (MGR). Continue reading “Announcing – WaltonStats.com”→
A higher value sale in the Miller Group Realty (MGR) target market was recently recorded. The MLS indicates it went under contract in only 11 days at 100% of the asking price. That’s pretty remarkable given the near shut-down of the housing market beginning mid-March due to the Covid-19 virus.
Detailed research, however, reveals a different story; i.e., the property had actually been on/off the market four times over the past 11 months, required 247 days to go under contract, and finally sold for 80% of the original list price. Continue reading “What’s Real in Real Estate?”→
Although serving the East Cobb and fringe areas generally, the area of concentration and specialization for Miller Group Realty (MGR) is the higher value single family detached Walton High School resale market in the four elementary schools of East Side, Mount Bethel, Sope Creek and Timber Ridge.
It is this dedication to such a finite portion of the housing market that drives the generation of the Quarterly Market Update and the Monthly Stats by elementary school and price range, all of which can be viewed online.
I know my way around the kitchen is often used to communicate ones cooking skills.
Likewise, I know the local area is commonly used by real estate agents to immediately connect with a prospective buyer or seller.
“Know” is vague and without more information it is impossible to grasp a cook’s or agent’s level of expertise. Both expressions could be used by someone being very humble about their high level accomplishments. On the other hand, the expressions could purposefully be nondescript hoping the other party will assume the best and what they want to hear. Continue reading ““I Know My Way Around The Kitchen””→