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Sandy Springs Housing Market Update - April, 2008
By Ryan Ward | April 13, 2008
The National Association of Realtors put out numbers for February indicating that pending sales nationally in February were the lowest on record and even the local statisticians working on behalf of the FMLS (First Multiple Listing Service) make it clear that we are not in a period which makes it is easy for homes to sell. So here is a look at the most recent and most up to date statistics of homes for sale in Sandy Springs
- Currently, there are 181 homes for sale in Sandy Springs.
- An additional 20 are contingent or pending sale.
- 6 homes sold in March.
- 3 homes sold in February.
- 7 homes sold in January.
- During the last 6 months of 2007, 53 homes sold or an average of 8.83 homes per month.
- The average sales price is $667,457
- The average days on market is 68 days - this applies only to homes priced accurately.
- The average sales price to original list price is 91%
- The absorption rate looking at the last 3 months of sales is 34 months.
Now, before we look at the previous year and compare it, I have a couple of observations. First, January and February are traditionally the slowest months of the year. Looking at the sales price compared to what homes were originally listed for is a strong indication that sellers have begun the process of price reductions needed to produce the incentive for buyers needed to illicit offers. This is evidenced in the pending sales number above.
Looking at the absorption rate along with pending sales gives us as strong an indicator for future trends as any available statistic. From these two numbers we can see where we are currently and we can see that there is definitely a positive trend with the number of pending home sales.
We have a listing coming on the market this Tuesday that will be listed for just under the average sold price for the area. Furthermore, the home sites on a completely level, 1.4 acre lot with a pool. You can have a look at the property website (not complete) with about 100 photos here: 750 Crest Valley Road in Powers Ferry Estates. Here are a few photos:
If you are interested, please send me an email and we will set up an appointment for you to see this home. You can fill in the comment form below or the contact form to the right. I can also be reached at 404-630-3187 if you have any questions.
Topics: Sandy Springs Real Estate |
April 13th, 2008 at 10:57 pm
[...] MinnesotaInvestors.com wrote an interesting post today onHere’s a quick excerpt The National Association of Realtors put out numbers for February indicating that pending sales nationally in February were the lowest on record and even the local statisticians working on behalf of the FMLS (First Multiple Listing Service) make it clear that we are not in a period which makes it is easy for homes to sell. So here is a look at the most recent and most up to date statistics of homes for sale in Sandy Springs Currently, there are 181 homes for sale in Sandy Springs. An additiona [...]
April 14th, 2008 at 4:44 pm
[...] Ryan Ward sure knows how to captivate the audience. A recent post was published on Sandy Springs Housing Market Update - April, 2008Here’s a brief excerpt of what was written: [...]
April 16th, 2008 at 12:42 am
These numbers dont look good if you are a seller HOWEVER if you are a buyer that is a completly differnet side of the fence and having negotiating power as a buyer is never a bad thing!