• Home
  • Magazine
    • Where to Find Us
    • About Us
    • Contact Us
  • Archives
  • The Team
  • Media Kit
  • Blog
  • Aroundabout Local Media
  • Subscribe

TowneLaker

Your Community. Your Magazine.

  • Readers’ Choice 2023
    • Readers’ Choice Promotional Media Kit & Free Downloadables
    • 2022 Readers’ Choice Winners
  • Best for Bridal 2023
    • Best for Bridal Promotional Opportunites
  • Calendar
  • Share with Us
    • Submit Photos
    • Submit Events
    • Lost & Found Pets
  • Advertise with Us
    • Ad Testimonial Form
  • Get Connected
    • Community Phone Numbers
    • Clubs and Organizations
    • Community of Faith
    • Schools

facebook instagram

Real Estate Market Continues to Thrive

January 27, 2021

Last year, the pandemic brought many changes to how real estate agents everywhere provide services to clients. For example, many have developed variations of virtual appointments for buyers and sellers. Zoom-based appointments allow for time to discuss the wants, needs and motivations for moving forward with the sale of a client’s most important asset.

Additionally, showing appointments have changed to include precautions such as masks, gloves and hand sanitizer. Unlike before, we are seeing a rise of instances where buyers are closing on properties without having seen the property.

While this is different for us all, our primary responsibility, and that of all Realtors, continues to be helping clients navigate the sales process, according to their comfort level and concern for safety. With many safety precautions in place, the real estate market has held, and even strengthened. The record low interest rates and a severe housing inventory shortage across metro Atlanta have contributed to the best seller’s market we have seen in years.

We have witnessed the number of homes sold in the Towne Lake area increasing by 20.3% in the third quarter of 2020, as compared with the third quarter of 2019. The active listing inventory available in this area also has decreased, creating a 0.7 month’s supply of homes available in the Towne Lake area. This means that, if no other homes come on the market as of today, it would take less than a month to sell off the current inventory at the current rate of selling. If there ever was a time to consider selling your home, now is it.

According to First Multiple Listing Service (FMLS), in the third quarter of 2019, metro Atlanta’s number of active listings was 14,263. In the third quarter of 2020, the number of active listings plummeted to 7,098, causing a 50.3% decline in active inventory. With the number of homes sold up 9.8% overall from 2019 to 2020 in the third quarter, the market currently has 1.3 months worth of inventory. This is supply and demand 101. The median sales price is around $300,000, and we currently are seeing an overall increase of the median sales price of 12.6%.

*FMLS data for single family detached residences. Data is believed to be accurate, but is not warranted. Data provided by ChartMaster Services, LLC third quarter 2020 results.

By Jason Wilson of Ursula & Associates, a real estate team associated with Keller Williams Realty, that specializes in Woodstock and surrounding areas.

Filed Under: Secondary

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Read Our Most Recent Issue

Sign up to receive a digital copy of this magazine

See our other titles

Around Cherokee: The Story of our County & Its Cities

Blog

How John J.A. Sharp Left an Education Legacy

Everyday Angels

Annual Retreat Moves County Forward

Rob’s Rescues

4 Ways for Students to Avoid Procrastination

© Copyright 2023 TowneLaker