If you still had any questions as to whether the Cumming, GA / Forsyth County real estate market has recovered from the “bust”, the answer is a resounding YES!
The real estate market in Cumming, GA / Forsyth County GA area was stronger than 2015 by at least much as much as 2015 was over 2014.
Housing demand is extremely high! This is readily seen by looking at two statistics: New Listings & Months of Inventory. 2016 continued a 4 year improvement in the number of new listings, up 12.2% over 2015, so supply has been increasing well. However, demand has grown even faster as the months of inventory fell to it’s lowest point in the past 10 years at just 4.2 months. 6 months is considered a normal or balanced level of inventory.
If you doubt this relationship, look at how the Sales Prices (Average / Median) increased in Forsyth County! The 2016 Average Sales Price was up 3.9% over 2015 and up 8.4% over 2014! Remember your basic economics, when demand exceeds supply, prices go up!
Now further consider that the # of Sales increased 12.1% in 2016 over 2015. The number of sales per year has been increasing each year since 2009. However, demand has grown even faster in the Cumming, GA / Forsyth County, GA area!
If you’ve always wanted to sell in a “Seller’s Market”, this is what that it looks like. Time to jump in!
I hope that answers your question, How’s the Market? If you want to sell your house or need to sell your house, contact me and I’ll walk you through an approach that sells your house quickly while maximizing your sales price by taking advantage of high buyer demand.
If you’d like to review all the real estate statistics I track and used for this 2016 Real Estate Market Update for Forsyth County GA, they are on my creatively named Forsyth County GA Real Estate Market Statistics page!
Other pages that may be of interest:
Page presenting and explaining the various statistics used in my real estate market analyses.
About the author: The above real estate information on the 2016 Real Estate Market Update for Forsyth County GA was written by Tim Renshaw. Tim can be reached via email at Tim@BillBrown.com or by phone at (770) 765-3544.
Thinking of selling your home? Consider me as your Selling Agent, not merely a listing agent. I would value the opportunity to explain the difference.
I serve Real Estate sales needs in the following North Central Georgia towns: Alpharetta, Ball Ground, Canton, Chestatee, Coal Mountain, Cumming, Dahlonega, Dawsonville, Free Home, Gainesville, Lathemtown, Milton, Silver City,