Home Prices Increase as Number of Homes for Sale Decrease

By Nancy Minor

September is here. I love the fall season, and I love that it means the beginning of football. I love a winning season in football, and I love a winning season in real estate. 

I am excited to see if the heat from a great spring and summer market carries over to the fall and winter. Looking at  where we are this year, compared to last year, will give us a clue how as we head toward the fourth quarter.

Our starting lineup begins with 90 homes currently on the market in the City of Peachtree Corners. This inventory has remained in the range of 90 to 100 homes for the past year.

Our score year-to-date for this period last year was 214 homes sold. In 2013 we have year-to-date sales of 258 homes which is almost a 20 gain in the number of homes sold to-date.

Last year at this time the average sales price was $284,650. In 2013 the average sale price is $328.262.

Another indication of the direction of the market is the supply of homes available. We have  a 2.8 month supply of homes which most consider to be a seller’s market.

Open Houses this weekend in the area:

5123 Creek Walk Circle Priced at $650,000 open 2-4 Sunday 9/8/13

4228 River District Drive Priced at $549,000 2-4 Sunday 9/8/13

5275 Linnadine Way Priced at $525,000 2-4 Sunday 9/8/13