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Roswell Luxury Real Estate
By Ryan Ward | July 20, 2007
Roswell has followed the trend of luxury real estate in the past few years by building new construction luxury homes just like the rest of the submarkets of Atlanta real estate. Here are the Roswell luxury real estate market statistics for the first half of 2007. The information is gathered ussing the Atlanta MLS, the FMLS. To qualify for luxury real estate for the purposes of this analysis, homes must have a list price of at least $750,000.
- Currently, there are 155 Roswell luxury homes for sale
- 17 additional homes are either under contract or working on an offer
- 37 homes have sold during 2007
- The highest sold price so far this year is $3,040,000
- The average days on the market for Roswell luxury real estate in 146 days from the time it is listed until the time that the seller has an accepted contract.
- The inventory of Roswell luxury homes is very high. The absorption rate of current inventory is over two years at 25 months! This means it would take over two years to sell the current inventory of luxury homes in Roswell. This is extraordinarily high.
What this means for buyers and sellers of Roswell luxury real estate in todays market conditions is very different depending on which side of the sale you are on. If you are a buyer, you have considerable leverage because of the available choices.
As a builder or seller, you are in a different position entirely. You must have your home priced correctly or buyers will simply find a better value. Buyers are much more sophisticated than in years past and they understand the apparent value of real estate.
Whether you are a luxury home builder or an individual seller of Roswell luxury real estate, if your real estate agent’s marketing plan does not include a powerful internet marketing presence, then your home is missing the best opportunity to be found directly from buyers.
You need a real estate agent who can market your home globally, harnessing the full power that intenet marketing exposure offers.
The Ryan Ward Group of Keller Williams Realty Consultants, Roswell can provide Roswell luxury homes for sale with the maximum exposure that you need to get your home sold. It’s that simple. We have harnessed mastered the cutting edge internet marketing that provides the highest level of exposure to sell real estate in todays market.
For more information about how we can partner with you to sell your Roswell luxury home, contact us at 404.630.3187 or simply fill in the coment form below.
Topics: Roswell Real Estate |
July 22nd, 2007 at 10:28 am
25 months of inventory is a lot of inventory. What is the break point in your area to be classified as “Luxury Homes”?
July 22nd, 2007 at 10:51 am
Well,
Using the standard that is set at luxuryrealestate.com, that number is $500,000. However, depending on where you are in Atlanta, you might be only able to buy a 50 year old brick ranch for $500,000. For the purposes of Roswell, I went with $750,000 because that will really put you in a luxury home in many Roswell neighborhoods.
July 26th, 2007 at 10:50 pm
Great information, it is always interesting to see what is considered Luxury in a given area. I am currently visiting the town I grew up in, Cloquet MN and here it seems that Luxury would start about 300,000 and probably top out at about 600,000. It just does not seem like luxury though because right next door to it will be something that looks like it was brought in on a trailer.
July 27th, 2007 at 5:55 pm
Ryan, can homes be dropped from your MLS system and then re-listed? The Augusta MLS allows that and so it’s hard to draw accurate conclusions about days on the market.
We have several agents here that pull listings on and off MLS and then send out mailings saying, ‘Look I sold this home after (insert low # here) days!’. Pretty pathetic but you can game the system pretty easily if you want to.
July 27th, 2007 at 6:21 pm
They sure can and the true days on market is likely to average about 30 - 60 days longer than what is here. When I pull stats, I have to use a consistent method otherwise you can’t draw conclusions about the market by looking back over your previous findings. So, when I pull stats for short reports like this one, I try to use only the information readily available. While doing a true market analysis for an individual property, we would be much more specific about expired listings, withdrawn listings, homes that have expired and are re listed and homes that sold only after spending 6 months on the market with one real estate agent and then finally selling 45 days later with another agent at a lower price.
It’s a shame that agents would twist numbers to make them sound better than the truth, but, that’s the competition and I think that people like yourself and myself will be able to convey the truth to sellers and ultimately be more succesful for it.
August 5th, 2007 at 9:13 pm
Wow 25 months. I thought we were up there in the greater Phoenix area at about 10 months. Hopefully things pick up in your area soon so sellers can move on to their new locations.
On a different note I was just doing a search on google for “site: real estate blog” and your blog is on page 5. Nice work .
August 6th, 2007 at 3:06 pm
Thanks Barry. That’s just for homes above $750,000. It’s about 10 months for all homes…
July 2nd, 2008 at 7:32 pm
It seems like the luxury isn’t suffering in areas of Colorado either, like Aspen and Telluride. I read about it at http://tellugramblog.blogspot.com/