Yellow Ribbon Tree
appen grocery
Northside Oral Surgery
appen dec 2010

Forsyth prices jump, but opportunities exist



chart_w
(click for larger version)
January 17, 2014
Comparing the fourth quarter of 2013 to 2012, sales prices in Forsyth County look pretty solid. While the number of sales only rose 4 percent, average sales prices jumped 13 percent from the previous year.

On the surface, it is evident that the sharp jump in asking prices (22 percent higher for 2013) led to the rise in sales prices.

The main reason for the big jump is inventory, or lack of it. Not reflected in the chart below, inventory levels at the end of 2013 were 13 percent lower than 2012.

So even with the relatively flat sales, lower inventory has resulted in the supply of homes dropping from over four months at the end of 2012 to less than a three-month supply today.

But there is another factor affecting sales, one related to inventory that can't be tracked or recorded. It is the quality of inventory. I've spoken with several of our buyers' agents who have been repeating a constant refrain: "My buyers can't find anything good out there."

While inventory is down, total transactions are only up slightly because buyers are searching for what they want – and that typically means updated and move-in ready. So, the take away for sellers would be to put your home in the best condition possible – if costs allow. Buyers, if you're looking for a better deal, then consider doing the updates yourself – just understand first what those costs are and what the returns would likely be.

list visuals View images.
Bob Strader is a local realtor with the NORTH Group of Keller Williams Realty. Visit his blogs liveincumming.com or liveinalpharetta.com or email him: info@thenorthgroup.com.
printPrint
emailEmail Link
CommentFeedback
shareShare

Tags: Business News, Community & Outreach

READER COMMENTS Submission
When posting feedback please be respectful. Be nice. :
* required value
Your Name*

Town*

Email (not shown on website)*

Subject*

Comment*

Verification*
Identify the animal




Coldwell Banker
Biz Post
RECENT CLASSIFIEDS
Part-time

Travel Industry $15/hour GREAT P/T JOB

August 20, 2014 | 10:16 PM
THIS JOB IS BEYOND IDEAL »
Part-time

Administrative Assistant

August 20, 2014 | 03:54 PM
Seeking a responsible & self-motivated »
Part-time

P.T. Upscale House Cleaner 11.00 hr.

August 19, 2014 | 09:56 PM
14 year old company has an »

Georgetown Pediatrics
appen dec 2010 Duplicate