The Forsyth County Georgia real estate market remains HOT, just like the weather!
In this real estate market update September 2016, let’s examine just how hot it is. No single statistic proves the case, but taken together the evidence is overwhelming!
- Properties continue to sell at prices very close to their original list price at 97.6%. So far in 2016 this percentage has been the strongest in the last 10 years! Close Price to Original List Price Ratio chart
- Fast is the best way to describe how quickly properties are moving. Again, 2016 has seen the quickest days to sell average in the last 10 years. How does 45 days in August sound to you? Days to Sell Average chart
- Demand has remained extremely high. Consider that the number of new listings has been the strongest in the past 10 years while the level of inventory available has been the lowest over that same period. No wonder properties are moving so quickly! Number of New Listings chart & Months of Inventory chart (1)
- All of this with average prices at levels not seen since the market hit the skids in 2008, though August did see a sizable drop relative to the rest of 2016..Sales Price Average chart
- Additionally, the total $ volume of sales and the total # of sales in 2016 has been the highest every month of the last 10 years! Sales $ Volume chart (2)
See what I mean? If you’ve ever wondered what a seller’s market looks like, then you need look no further than Forsyth County Georgia in 2016. This has just been a continuation of 2015, which was a strong year as well. Things just go hotter and hotter.
If you are considering selling, now is a great time and I would welcome the privilege of sitting down with you and putting together a game plan to get your house sold quickly for top value!
If your house didn’t sell this year and you are considering relisting, it would be my pleasure to review your situation and determine what went wrong and how to rectify it.
Contact me via whatever mechanism suits you: phone, email or social media.
You might want to check out this article on Selling in a Seller’s Market by Ferris Property Group
Here’s a great article on what a seller’s market is and how buyer’s should handle them by Kyle Hiscock.
Other pages that may be of interest:
Page presenting and explaining the various statistics used in my real estate market analyses.
(1) Months of inventory has been getting adjusted down every month throughout 2016. I suspect that August’s inventory number will drop from 4 months to 3.
(2) The Sales $ Volume number also tends to get adjusted upward as reporting in this area tends to lag as much as 90 days. Consequently, both the July and August numbers will see an increase and be reflected in future updates.