As home inventories continue to decline, home sales in Roswell stay strong. Year-to-date, single family homes in Roswell sell in 97 days, which is an improvement over the same period last year by 37 percent.
Currently, there is just over three months of inventory available, which places Roswell firmly in a sellers’ market. When the supply falls that low, more home buyers compete for a fewer number of homes, resulting in competition and multiple offers. This, in turn, results in sales price increases.
Show me the money
Year-to-date, the average sales price of single family homes in Roswell has jumped from $277,000 last year to over $338,000. However, an increase of high priced home sales can skew this number, making that jump seem large, so looking at the median sales price would offer a more realistic view of sales prices.
The median sales price jumped from a little over $247,000 to $295,000 – still a hefty 19 percent jump from one year ago.
While there is some new construction in Roswell, the majority of the available inventory is resale. With fewer distressed sales to compete with and limited new construction, many home owners in Roswell may find themselves in a place where their market value has risen enough to sell where a year or more ago this wasn’t an option.
Bob Strader is a local realtor with The NORTH Group of Keller Williams Realty. More information can be found on his blogs liveincumming.com or liveinalpharetta.com or email him: firstname.lastname@example.org.