My New Blog

First and best news that continues to hold true quarter over quarter – a home priced right will sell within 23 days on market and more than 97% of list price!  Homes NOT priced right sell in 236 days (10 TIMES longer!!!) and 79% of list price.  Let me put this in practical terms:

Seller wants to list at $375,000
Market dictates $350,000

At $375,00 homes sells 236 days later for $296,250
At $350,00 homes sells 23 days later for $340,550

Seller saves $44,300 and 213 days of keeping your house clean!

I love that statistic because in the end it benefits everybody.  It keeps inventory moving, buyers moving in, and buyers moving up.

More positive news:

-         Sales are up 2.6% compared to 2Q2009
-         Foreclosures are down at 24.4%
-         Sales price median is slightly higher – +6% compared to 2Q2009
-         Although still high, the percentage of homes that needed a price reduction in order to sell continues to lower (9 percentage points)

More “Interesting” news:

-         51.5% of listings in 2Q 2010 failed (never sold)
-         82% of ALL listings are overpriced and will need a price reduction to sell!
-         1 and 3 properties are distressed (short sale or foreclosure) 33% of our market!
-         More than a 9 month supply of listings exists ( 6-7 months creates a balanced market)

I hope you find this information beneficial.  Please do know that the information above is the average of all of Metro Atlanta.  Its possible for me to provide this information just for your zip code.  Just send me a quick note with the area you want me to look up.

Have a great day!