Welcome to our monthly market updates!
Welcome to our monthly market updates!
Welcome to your one-stop spot for the latest in real estate!
Every month, we bring:
📊 Quick Stats: Get the pulse of the market with concise data.
🏡 Top Listings: Handpicked properties making waves this month.
💡 Insider Takes: Expert opinions on market shifts and trends.
🗞 Brief News: Stay updated with vital industry highlights.
Stay informed, make smarter decisions.
Welcome to your one-stop spot for the latest in real estate!
Every month, we bring:
📊Quick Stats:
Get the pulse of the market with concise data.
🏡Top Listings:
Handpicked properties making waves this month.
💡Insider Takes:
Expert opinions on market shifts and trends.
🗞Brief News:
Stay updated with vital industry highlights.
Stay informed, make smarter decisions.
Welcome to the Monthly Market Updates Library
Enjoy the latest & most up-to-date market updates to help you navigate the current housing market.
July Local Market Update
The North Atlanta suburbs are experiencing dynamic changes in the housing market for single-family homes. Active listings have increased across various cities, with varying trends in pending and closed sales. Strategic pricing remains crucial in this competitive market.
Current Listings and Market Activity: Active listings have generally increased, with Canton at 361, Milton at 97, Woodstock at 255, Cumming at 525, and Dawsonville at 151. Pending and closed sales show mixed trends, indicating a shifting market.
Strategic Selling and Buying Advice: Proper pricing and marketing are essential for sellers to succeed in the current market. Buyers need skilled agents to navigate the process and secure favorable terms.
July State of the Housing Market
The U.S. housing market is experiencing rising home prices, fluctuating mortgage rates, and limited inventory. Despite the challenges, new construction is providing more options for buyers, and competitively priced homes are receiving multiple offers quickly.
Rising Home Prices: Home prices have increased for six consecutive months, with a 0.5% rise in the last month alone, driven by high buyer demand despite affordability challenges.
Inventory and Market Dynamics: Overall market inventory remains 20% below pre-pandemic levels, causing homes to stay on the market longer due to initial overpricing. People priced homes, inclusing luxury properties, sell quickl y
If it Ain't Broke, Don't Fix It
A home inspection protects your financial interests by uncovering hidden issues that could cost you thousands of dollars in repairs.
The Importance of Home Inspection: Acts as a safety net, revealing hidden problems like faulty systems, structural concerns, and bad wiring, ensuring you're aware of potential costly repairs.
Inspection Contigency Benefits: Inspection contingency allows you to request repairs of back out of the purchase if significant issues are found, providing leverage and protection.
WANT TO KNOW HOW WE CAN EFFECTIVELY SELL YOUR HOME?
CHECK OUT OUR FREE VIRTUAL SELLER SEMINAR
June Local Market Update
The real estate market in Canton, Milton, Woodstock, Cumming and Dawsonville shows varied trends in active listings, pending homes, and closed sales, with some areas experiencing increases in average list prices and days on market.
For Sellers: It's a seller's market, but success hinges on strategic pricing and marketing due to increased competition.
For Buyers: It's crucial to have a real estate agent who represents your interests, especially when dealing with new constructions, as onsite agents represent the builder's interests. An independent agent will help navigate the market, negotiate on your behalf, and ensure you have access to all available options.
June State of the Housing Market
Mortgage rates are increasing, but purchase demand remains steady. Median home prices have decreased by about 1.1% compared to last year.
Increased Inventory and Seller Activity: There is a significant increase in inventory, with new listings up by 13.5% nationally. This helps buyers with more options and affordability challenges.
Market Dynamics:
There is an influx of smaller, lower-priced properties which help balance out the market. Some regions, especially on the West Coast, are seeing multiple offers and shorter days on the market.
Green with Envy
In a world increasingly concerned with climate and environmental issues, more home buyers are searching for eco-friendly homes.
Electric Vehicle Chargers: Increasingly popular as more properties are equipped with EV charging stations.
Passive Houses: Energy-efficient homes with strong insulation and special windows, gaining popularity in North Atlanta.
Tankless Water Heaters:
High upfront cost but long-term savings, providing endless hot water efficiently.
HAVE A HOME TO SELL FIRST?
WANT TO GET A FREE CUSTOM MARKET PROPOSAL?
May Local Market Update
We have seen various trends across Canton, Milton, Woodstock, and Cumming, reflecting some fluctuations. However, as we move towards the busier summer months, activity is expected to pick up significantly.
Market Snapshot: Despite some fluctuations, Canton, Milton, Woodstock, and Cumming present notable real estate figures. In Canton, active listings have risen to 302, with an average list price of $591,526. Milton stands out with homes selling at an average price of $1,572,532, reflecting a significant price increase.
Changing Trends: These cities are seeing diverse trends in market dynamics. Canton homes average 30 days on the market, while Milton has seen a dramatic decrease to just 10 days. Woodstock has 192 active listings with an average list price of $511,481, and Cumming has 355 active homes with an average price of $680,976. These figures indicate varying levels of inventory and market activity across the regions.
The 2024 Housing Market Unlocked
The 2024 housing market is experiencing increased activity with a 10% surge in home sales and rising prices, despite higher inventory levels.
New Opportunities: The 2024 housing market has opened up, presenting new opportunities for buyers and sellers. In contrast to the tight conditions of 2023, the current market shows a nearly 10% increase in existing home sales for Q1. Despite rising inventory, home prices are up by approximately 6% due to high buyer demand.
Favorable Market Conditions: With increased housing supply and steady demand, the market is shifting towards a more balanced state. Unlike the dramatic price surges of 2021, the 2024 market is expected to remain stable, offering favorable conditions for both buyers and sellers. Now is an ideal time to list your home or purchase a new one, as the market dynamics are favorable for both parties.
Make a List and Check it Twice
Are you a first-time homebuyer? Get ready to embark on the journey of owning your piece of the American Dream with expert guidance from Bonnie Lelak.
Expert Guidance: Partner with a reputable real estate agent who advocates for your best interests and saves you money during negotiations
Neighborhood Preference: Compile a list of preferred neighborhoods aligned with your lifestyle and needs, considering factors like commute and school districts.
Credit Management: Safeguard your credit by avoiding significant purchases or new debt during the homebuying process to secure favorable loan terms.
HAVE A HOME TO SELL FIRST?
WANT TO GET A FREE CUSTOM MARKET PROPOSAL?
April Local Market Update
The spring real estate market in Georgia's favorite cities—Canton, Milton, Cumming, and Woodstock—is heating up, with homes flying off the market within days, especially in the $300-500k price range.
Market Snapshot: In Canton, there are 291 listings, 162 pending sales, 144 homes sold, at an average price of $623,789. Milton offers 65 high-end homes, 25 in negotiation, 27 sold, averaging $1,387,338. Woodstock presents 167 properties, 126 sales near completion, 148 settled, with an average cost of $504,853. Cumming boasts 294 listings, 212 on the verge of selling, 183 recently sold, enriching its community.
Market Activity: The data reveals a common trend across these cities: homes are spending fewer days on the market, pointing towards high demand and swift sales. Particularly noteworthy is Milton's average market time of just 35 days, indicating a fast-moving market. Moreover, prices are consistently on the rise across the board, with Milton experiencing a substantial increase of almost two hundred thousand dollars in average selling price..
What's Trending
In a world of constant change, the real estate market presents both unpredictability and opportunity. Recent trends reveal a dynamic landscape where understanding the market's fluctuations is key to success.
Market Fluctuations The real estate market operates in cycles, impacting property values and investment yields. Boom periods witness soaring property values driven by high demand and limited inventory, while downturns see declines due to oversupply and economic factors.
Current Trends: Presently, the market favors both buyers and sellers, indicating a gradual shift towards balance. Modest improvements in affordability are observed, signaling favorable conditions for buyers. However, market dynamics vary by location, necessitating tailored guidance from local experts like Bonnie Lelak.
Top 2 Mistakes You Cannot Afford To Do
Achieving the best return on your investment when selling your home requires strategic planning and execution.
Price Your Home Right: In today's dynamic market, accurate pricing is essential for attracting buyers and securing a swift sale. Overpricing can deter potential buyers, while underpricing risks leaving money on the table. Collaborating with a local agent ensures your listing reflects current market conditions and resonates with buyers.their listed price.
Hire an Experienced Agent: Partnering with a seasoned agent is crucial for determining the optimal asking price and navigating negotiations effectively. Experienced agents bring expertise in market analysis and negotiation, ensuring you achieve the best return on your investment.
DON'T KNOW WHERE TO START IN HOME BUYING?
CHECK OUT OUR FREE VIRTUAL BUYER SEMINAR
March Local Market Update
The housing market in Canton, Milton, Cumming, and Woodstock is heating up, with increased activity fueled by multiple offers and rising demand. Sellers stand to benefit from favorable market conditions, while buyers may face continued challenges due to limited inventory and rising prices.
Market Snapshot: The housing market in Canton, Milton, Cumming, and Woodstock is experiencing heightened activity, with multiple offers becoming more common, indicating a strong start to the spring season.
Implications for Sellers and Buyers: Sellers are in a favorable position with the potential for significant equity in their homes, making it an opportune time to consider selling. Buyers may face challenges as they navigate a market with limited inventory and rising prices. Waiting for prices to come down may not be a viable strategy, as historical data illustrates the potential risks of delaying homeownership.
Will Your Home Pass the Test
Is your home ready to command top dollar in today's market?
Curb Appeal Evaluation: Assess the exterior of your home for its curb appeal, focusing on fresh landscaping, well-maintained exteriors, and vibrant flora.
The 3D Approach:Undertake the essential steps of Decluttering, Depersonalizing, and Deep Cleaning to ensure your home presents a clean, neutral, and inviting atmosphere.
Interior Updates and Repairs: Attend to interior updates and minor repairs, such as painting walls in neutral tones, patching holes, refreshing old carpeting, and rejuvenating areas like the kitchen.
Odor Management: Address any lingering odors, such as pet-related smells or cooking aromas, as they can deter potential buyers.
How Quickly Will My Home Sell
The duration it takes to sell your home depends largely on the market climate, which dictates the balance between supply and demand.or maximizing offers.
Market Climate Dictates Selling Time: The speed at which your home sells is influenced by the balance between supply (available homes for sale) and demand (number of buyers in the market).
Understanding Absorption Rate:
Absorption rate is a key metric used to evaluate the rate at which homes are sold in a specific market within a given period. It is calculated by dividing the average number of sales per month by the total number of available homes.
WANT TO KNOW HOW WE CAN EFFECTIVELY SELL YOUR HOME?
CHECK OUT OUR FREE VIRTUAL SELLER SEMINAR
February Local Market Update
The 2024 housing market in Cherokee County, Georgia is heating up with increased activity, particularly in Canton, Milton, and Woodstock.
Market Snapshot: The latest housing data indicates a surge in activity, especially after the typical slowdown in sales, driven partly by seasonal factors. The market is gearing up for increased activity as spring approaches, with expectations of a significant uptick, akin to "March Madness."
Market Outlook The housing markets in Canton, Milton, and Woodstock are experiencing increased activity, reflecting a broader trend of heightened demand in Cherokee County. With homes selling quickly and prices holding steady or increasing, now is an opportune time for both buyers and sellers to make their moves in the market.
DON'T Do This when Getting a Mortgage
These are the top mistakes to steer clear of when applying for a mortgage.
Large Cash Deposits: Avoid depositing substantial sums of cash into your bank account.
Delay Large Purchases: Hold off on significant expenditures such as furniture, appliances, or expensive vacations on credit.
CoSigning for Loans: Refrain from cosigning until after your transaction closes.
Bank Account Consistency: Maintain consistency with your bank accounts throughout the mortgage process.
Avoid New Credit Applications:
Refrain from applying for new credit, be it credit cards or car loans, during the mortgage process.
Number 1 Secret When Buying a Home
The number one secret to buying a home lies in research, education, and strategic planning.
Research and Education: Understand your financial situation, including your credit score, income, and expenses.
Pre-Approval: Work with a reputable lender to get pre-approved for a loan.
Identify Priorities: Make a list of your must-haves and deal-breakers for your future home.
Long-Term Planning: Assess whether the home will suit your needs in the long term and accommodate any lifestyle changes.
Trusted Guidance: Align yourself with a reputable real estate agent who can serve as your trusted guide throughout the process.
LOOKING FOR THINGS TO DO?
CHECK OUT OUR MONTHLY CALENDAR OF EVENTS
January Local Market Update
Housing market in and around Cherokee County, Georgia
Market Condition: Despite a typical slowdown during the holiday season, homes are staying on the market for an average of around 30 days, indicating continued demand and a relatively low inventory compared to previous years.
Seller Opportunities: Sellers are encouraged to take advantage of the current market conditions, with homes still selling relatively quickly. They emphasize the importance of partnering with an experienced agent to navigate the process effectively and maximize returns.
January State of the Housing Market
As we kick off the new year of 2024, both homebuyers and sellers, are you eager to uncover the latest insights into the National Housing Market?
Mortgage Applications Surge:
According to Redfin, mortgage applications have experienced a notable 3% rise, reaching their peak in recent weeks. This increase can be attributed in part to a recent decline in interest rates, enticing buyers to take action and pursue home purchases.Favorable Interest Rate Environment: An encouraging inflation report indicates a decrease in inflation, which suggests that the Federal Reserve is unlikely to raise interest rates and may even consider cutting rates earlier than anticipated. This development bodes well for both buyers and sellers in the housing market.
January Woodmont Neighborhood Market Update
What does the current market hold for you? Sellers, is it the right time to make your move? And for buyers, are you ready to find your dream home in this vibrant area?
Balancing Market: Woodmont Golf and Country Club boast a mere 11 active homes on the market, showcasing a diverse range of offerings from new construction estates to charming homes built in 2019. Prices span from $1,359,000 for a luxurious 5-bed, 4.5-bath estate to $599,000 for a stylish 4-bed, 2.5-bath home with modern amenities.
High Value for Sellers: Expect a high level of interest in your property, potentially resulting in favorable offers. The vibrant market conditions present an excellent opportunity to capitalize on your investment.
DON'T KNOW WHERE TO START IN HOME BUYING?
CHECK OUT OUR FREE VIRTUAL BUYER SEMINAR
November Local Market Update
Amid changing times, what's the current state of the real estate market in Canton and Milton, GA?
Resilient Real Estate Market: Despite changing circumstances, Canton and Milton's real estate market remains robust, providing opportunities for both buyers and sellers.
Market Dynamics: The market showcases specific dynamics, including lower inventory and factors that influence buyer activity.
Canton and Milton Overview: The two areas offer distinct real estate characteristics, and an experienced agent can help guide your real estate decisions in this dynamic market.
November State of the Housing Market
Is the national housing market a seller's dream right now, despite lower sales? Are home prices on the rise, and is it time to list your property? Wondering about the current mortgage rates and market competitiveness?
National Home Sales Down, Prices Up: Despite a 16% drop in national home sales, home prices continue to climb, with the average sales price up 2.9% from the previous year.
Seller's Market Continues: Low inventory levels and a 2-month supply of homes favor sellers, making it an opportune time to list properties. A significant 36.3% of homes are selling above the list price, indicating a competitive market with frequent bidding wars.
Real Estate's Ever-Changing Landscape: The real estate market is dynamic and constantly evolving. To stay updated with the latest local data and trends, consult your local real estate expert.
November Woodmonth Neighborhood Market Update
What does the current market hold for you? Sellers, is it the right time to make your move? And for buyers, are you ready to find your dream home in this vibrant area?
Balancing Market: With a 3.69 Months Supply of Inventory and a 55.04% increase over the past year, Woodmont is gradually shifting from a seller's to a more balanced market.
High Value for Sellers: A List to Sold Price percentage of 98.4% showcases strong demand and the value of Woodmont properties.
Quick Sales: Homes in Woodmont are selling rapidly, with a median of just 8 days on the market, emphasizing the need for prompt decisions by prospective buyers.
October Local Market Update
As we enter October 2023, what insights can one glean from the unfolding patterns in Canton, Georgia's real estate landscape?
Understanding Market Cycles: Learn about Canton's real estate as it undergoes its seasonal Fall deceleration and the implications of its notably low inventory.
Comparative Insights: Discover the nuances between Canton and Milton property listings, particularly in listing duration and property value.
Navigating with Knowledge: Realize the pivotal role of seasoned expertise in making sense of, and leveraging, the ongoing market shifts.
October State of the Housing Market
As 2023 nears its end, what pivotal insights emerge from the national housing market?
Sales vs. Prices: A significant 16.6% drop in year-over-year sales contrasts with a 1.9% rise in median home prices due to supply-demand dynamics.
Market Factors: Inventory and mortgage rates stand out as key market drivers, highlighted by NAR's chief economist.
Local Market Nuances: The importance of local real estate expertise shines amidst broader national trends.
October Woodmonth Neighborhood Market Update
What are the key takeaways from the Woodmont neighborhood's real estate dynamics in Cherokee County, GA, as we approach the end of 2023?
Balancing Market: With a 3.69 Months Supply of Inventory and a 55.04% increase over the past year, Woodmont is gradually shifting from a seller's to a more balanced market.
High Value for Sellers: A List to Sold Price percentage of 98.4% showcases strong demand and the value of Woodmont properties.
Quick Sales: Homes in Woodmont are selling rapidly, with a median of just 8 days on the market, emphasizing the need for prompt decisions by prospective buyers.
Septemeber Local Market Update
Amidst the shifting tides of 2023's real estate market, what standout insights emerge from Canton, Georgia's housing scene?
Trend Overview: Canton's real estate landscape shows signs of stabilization, characterized by swifter home sales and heightened buyer activity, despite a persistently low inventory.
Regional Comparison: While Canton's housing market demonstrates specific trends and dynamics, Milton, GA's real estate exhibits its unique set of characteristics, emphasizing the diverse nature of localized markets.
Strategic Market Approach: As choices for buyers taper compared to the previous year, the expertise of a seasoned real estate agent becomes vital in optimizing buying or selling strategies.
September State of the Housing Market
Facing a barrage of predictions about a 2023 home price plunge, how has the real estate market responded in reality?
Contradicting Expectations: Despite anticipations, 2023 didn't mirror the 2008 housing downturn; home prices remained resilient.
Revised Projections: Initial gloomy expert predictions shifted, now indicating stable or even positive growth for 2023.
Understanding Market Nuances: Annual market fluctuations aren't indicative of declining prices, merely a deceleration in the growth rate.
Why Are Mortgage Rates so Finicky?
In light of escalating inflation, how are mortgage rates adapting, and what implications arise for those venturing into the housing market?
Inflation's Impact: A key driver behind the mortgage rate trends, the inflation rate's climb to 3.2% in July directly affects these rates.
Current Rate Landscape: Based on data from Realtor.com, mortgage rates fluctuated within the 6-7% bracket recently, with forecasts suggesting a year-end average close to 6.6% for 30-year fixed rates.
Buyer's Perspective: Amidst this volatility, buyers are advised to explore a variety of loan options and leverage insights from experts like Bonnie Lelak for well-informed decisions.
August Local Market Update
As Canton, Georgia experiences shifts in its housing market, what overarching dynamics should homebuyers and sellers be aware of in 2023?
Market Evolution: Canton's housing market is showing signs of stabilization, yet a persistent low inventory means homes continue to sell briskly, with sustained buyer interest.
Understanding Median vs. Average: In real estate, the median price reflects the midpoint in a list of prices, while the average is the sum of all prices divided by the number of sales. The recent uptick in Canton's median sales price suggests a positive momentum for sellers.
Comparing Nearby Milton: In contrast to Canton, Milton's homes showcase a different market dynamic, emphasizing the unique characteristics of local real estate landscapes.
August State of the Housing Market
As the housing market evolves in the second half of the year, what essential takeaways emerge for prospective buyers and sellers?
Recovery from Predictions: The residential real estate landscape is rebounding, indicating a shift back to standard seasonal norms after the exceptional "Unicorn Years."
Supply Concerns: While demand stabilizes, a limited housing supply continues, causing potential sellers to hesitate due to replacement home shortages and rising mortgage rates.
Buyer and Seller Intent: Freddie Mac surveys signal robust market activity ahead, with a notable percentage of Americans considering both buying and selling soon.
Let's Look at the Numbers
How are national trends shaping up, and what do they signify for potential buyers and sellers?
Sales vs. Prices Divergence: While the National Association of Realtors reports a drop in existing home sales, a limited inventory has pushed the national median price to near-record levels.
Seller's Market Dynamics: Despite the sales decline, a 3.1 months supply absorption rate suggests the market still favors sellers. The recent trend of properties selling swiftly, often above list price, further underscores this.
Local Insights Matter: With national trends as a backdrop, the specifics of regional markets can differ significantly.
July Local Market Update
What's the Pulse of the Local Housing Market Mid-2023 in Cherokee County?
Market Activity: The housing market in areas like Canton and Milton is showing signs of increased activity with homes being listed and sold actively.
Time on the Market: Homes in Cherokee County are moving at a brisk pace, selling within weeks of being listed.
Navigating the Market: Given the dynamics of the current market, potential buyers and sellers might benefit from guidance.
July State of the Housing Market
How is the U.S. Housing Market Shaping Up in Mid-2023?
Inventory Challenges: Limited housing inventory continues to affect the market, influencing both sales and mortgage rates.
Market Dynamics: Despite a decline in home sales, the market has seen increased activity from all-cash buyers and first-time homebuyers.
New Home Construction: To address the housing shortage, there's been a notable increase in new home construction across all regions.
What to Expect with Days on Market
What does "Days on Market" mean for you as a seller?
Rapid Sales Benefits: Short days on market suggest high demand and possible higher sale prices.
Longer Listing Implications: Extended days on market could indicate buyer reservations, influenced by property condition, pricing, or marketing.
Strategy Re-evaluation: If a property remains listed beyond the norm, it's time to revisit your strategy, considering price adjustments and enhancing property appeal.
June Local Market Update
Navigating Canton GA's Housing Market: Are you poised to benefit from the current real estate trends?
Quick Sales Amidst Low Inventory: Despite lower stock, homes in Canton are selling faster as the market stabilizes.
Decoding Real Estate Numbers: Monthly stats often lag behind, impacting both current decisions and future forecasts.
Strategic Selling: Optimal outcomes in this fluctuating market require careful planning and timing.
June State of the Housing Market
What do nationwide trends reveal about today's housing market?
Mortgage Rate Effects: Low mortgage rates have led homeowners to hold onto properties, reducing new listings by over 20%.
Buyer Competition: Decreased inventory is sparking a buying frenzy, yet U.S. median sale prices have seen a 2.8% decline from last year.
Seller’s Market Indicators: A 2.7-month absorption rate signals a prevailing seller's market.
Money is Speed when Selling Your Home
Maximizing profit in home selling: Why "Money is Speed"?
Speedy Sales: Selling your home quickly can maximize profit, but in high-demand markets, too quick might mean lesser earnings.
Over-Listing Pitfalls: Long listing times raise costs and suggest to buyers they can bargain lower.
Optimal Sales Tactics: Price
competitively, address early repairs, and collaborate with a skilled agent.
HAVE A HOME TO SELL FIRST?
WANT TO GET A FREE CUSTOM MARKET PROPOSAL?
Watch our other videos here!
Welcome to the Monthly Market Updates Library
Enjoy the latest & most up-to-date marketing & sales tactics to help you purchase a NEW home.
July Local Market Update
The North Atlanta suburbs are experiencing dynamic changes in the housing market for single-family homes. Active listings have increased across various cities, with varying trends in pending and closed sales. Strategic pricing remains crucial in this competitive market.
Current Active and Market Activity: Active listings have generally increased, with Canton at 361, Milton at 97, Woodstock at 255, Cumming at 525, and Dawsonville at 151. Pending and closed sales show mixed trends, indicating a shifting market.
Strategic Selling and Buying Advice:
Proper pricing and marketing are essential for sellers to succeed in the current market. Buyers need skilled agents to navigate the process and secure favorable terms.
July State of the Housing Market
The U.S. housing market is experiencing rising home prices, fluctuating mortgage rates, and limited inventory. Despite the challenges, new construction is providing more options for buyers, and competitively priced homes are receiving multiple offers quickly.
Rising Home Prices: Home prices have increased for six consecutive months, with a 0.5% rise in the last month alone, driven by high buyer demand despite affordability challenges.
Inventory and Market Dynamics: Overall market inventory remains 20% below pre-pandemic levels, causing homes to stay on the market longer due to initial overpricing. People priced homes, inclusing luxury properties sell quickly.
If It Ain't Broke Don't Fix It!
A home inspection protects your financial interests by uncovering hidden issues that could cost you thousands of dollars in repairs.
The Importance of Home Inspection: Acts as a safety net, revealing hidden problems like faulty systems, structural concerns, and bad wiring, ensuring you're aware of potential costly repairs.
Inspection Contingency Benefits: Inspection contingency allows you to request repairs or back out of the purchase, if significant issures are found, providing leverage and protection.
WANT TO GET A FREE CUSTOM MARKET PROPOSAL?
June Local Market Update
The real estate market in Canton, Milton, Woodstock, Cumming and Dawsonville shows varied trends in active listings, pending homes, and closed sales, with some areas experiencing increases in average list prices and days on market.
For Sellers: It's a seller's market, but success hinges on strategic pricing and marketing due to increased competition.
For Buyers: It's crucial to have a real estate agent who represents your interests, especially when dealing with new constructions, as onsite agents represent the builder's interests. An independent agent will help navigate the market, negotiate on your behalf, and ensure you have access to all available options.
June State of the Housing Market
Mortgage rates are increasing, but purchase demand remains steady. Median home prices have decreased by about 1.1% compared to last year.
Increased Inventory and Seller Activity: There is a significant increase in inventory, with new listings up by 13.5% nationally. This helps buyers with more options and affordability challenges.
Market Dynamics: There is an influx of smaller, lower-priced properties which help balance out the market. Some regions, especially on the West Coast, are seeing multiple offers and shorter days on the market.
Green with Envy
In a world increasingly concerned with climate and environmental issues, more home buyers are searching for eco-friendly homes.
Electric Vehicle Chargers: Increasingly popular as more properties are equipped with EV charging stations.
Passive Houses: Energy-efficient homes with strong insulation and special windows, gaining popularity in North Atlanta.
Tankless Water Heaters: High upfront cost but long-term savings, providing endless hot water efficiently.
DON'T KNOW WHERE TO START IN HOME BUYING?
CHECK OUT OUR FREE VIRTUAL BUYER SEMINAR
May Local Market Update
We have seen various trends across Canton, Milton, Woodstock, and Cumming, reflecting some fluctuations. However, as we move towards the busier summer months, activity is expected to pick up significantly.
Market Snapshot: Despite some fluctuations, Canton, Milton, Woodstock, and Cumming present notable real estate figures. In Canton, active listings have risen to 302, with an average list price of $591,526. Milton stands out with homes selling at an average price of $1,572,532, reflecting a significant price increase.
Changing Trends: These cities are seeing diverse trends in market dynamics. Canton homes average 30 days on the market, while Milton has seen a dramatic decrease to just 10 days. Woodstock has 192 active listings with an average list price of $511,481, and Cumming has 355 active homes with an average price of $680,976. These figures indicate varying levels of inventory and market activity across the regions.
2024 Housing Market Unlocked
The 2024 housing market is experiencing increased activity with a 10% surge in home sales and rising prices, despite higher inventory levels.
New Opportunities: The 2024 housing market has opened up, presenting new opportunities for buyers and sellers. In contrast to the tight conditions of 2023, the current market shows a nearly 10% increase in existing home sales for Q1. Despite rising inventory, home prices are up by approximately 6% due to high buyer demand.
Favorable Market Conditions: With increased housing supply and steady demand, the market is shifting towards a more balanced state. Unlike the dramatic price surges of 2021, the 2024 market is expected to remain stable, offering favorable conditions for both buyers and sellers. Now is an ideal time to list your home or purchase a new one, as the market dynamics are favorable for both parties.
Make a List and Check it Twice
Are you a first-time homebuyer? Get ready to embark on the journey of owning your piece of the American Dream with expert guidance from Bonnie Lelak.
Expert Guidance: Partner with a reputable real estate agent who advocates for your best interests and saves you money during negotiations
Neighborhood Preference: Compile a list of preferred neighborhoods aligned with your lifestyle and needs, considering factors like commute and school districts.
Credit Management: Safeguard your credit by avoiding significant purchases or new debt during the homebuying process to secure favorable loan terms.
WANT TO GET A FREE CUSTOM MARKET PROPOSAL?
April Local Market Update
The spring real estate market in Georgia's favorite cities—Canton, Milton, Cumming, and Woodstock—is heating up, with homes flying off the market within days, especially in the $300-500k price range.
Market Snapshot: In Canton, there are 291 listings, 162 pending sales, 144 homes sold, at an average price of $623,789. Milton offers 65 high-end homes, 25 in negotiation, 27 sold, averaging $1,387,338. Woodstock presents 167 properties, 126 sales near completion, 148 settled, with an average cost of $504,853. Cumming boasts 294 listings, 212 on the verge of selling, 183 recently sold, enriching its community.
Market Activity: The data reveals a common trend across these cities: homes are spending fewer days on the market, pointing towards high demand and swift sales. Particularly noteworthy is Milton's average market time of just 35 days, indicating a fast-moving market. Moreover, prices are consistently on the rise across the board, with Milton experiencing a substantial increase of almost two hundred thousand dollars in average selling price..
What's Trending
In a world of constant change, the real estate market presents both unpredictability and opportunity. Recent trends reveal a dynamic landscape where understanding the market's fluctuations is key to success.
Market Fluctuations: The real estate market operates in cycles, impacting property values and investment yields. Boom periods witness soaring property values driven by high demand and limited inventory, while downturns see declines due to oversupply and economic factors.
Current Trends: Presently, the market favors both buyers and sellers, indicating a gradual shift towards balance. Modest improvements in affordability are observed, signaling favorable conditions for buyers. However, market dynamics vary by location, necessitating tailored guidance from local experts like Bonnie Lelak.
Top 2 Mistakes You Cannot Afford To Do
Achieving the best return on your investment when selling your home requires strategic planning and execution.
Price Your Home Right: In today's dynamic market, accurate pricing is essential for attracting buyers and securing a swift sale. Overpricing can deter potential buyers, while underpricing risks leaving money on the table. Collaborating with a local agent ensures your listing reflects current market conditions and resonates with buyers.their listed price.
Hire an Experienced Agent: Partnering with a seasoned agent is crucial for determining the optimal asking price and navigating negotiations effectively. Experienced agents bring expertise in market analysis and negotiation, ensuring you achieve the best return on your investment.
WANT TO KNOW HOW WE CAN EFFECTIVELY SELL YOUR HOME?
CHECK OUT OUR FREE VIRTUAL SELLER SEMINAR
March Local Market Update
The housing market in Canton, Milton, Cumming, and Woodstock is heating up, with increased activity fueled by multiple offers and rising demand. Sellers stand to benefit from favorable market conditions, while buyers may face continued challenges due to limited inventory and rising prices.
Market Snapshot: The housing market in Canton, Milton, Cumming, and Woodstock is experiencing heightened activity, with multiple offers becoming more common, indicating a strong start to the spring season.
Implications for Sellers and Buyers: Sellers are in a favorable position with the potential for significant equity in their homes, making it an opportune time to consider selling. However, it's crucial to partner with an agent who leverages effective marketing and social media strategies to maximize exposure and achieve optimal results. Buyers may face challenges as they navigate a market with limited inventory and rising prices. Waiting for prices to come down may not be a viable strategy, as historical data illustrates the potential risks of delaying homeownership.
Will Your Home Pass the Test?
Is your home ready to command top dollar in today's market?
Curb Appeal Evaluation: Assess the exterior of your home for its curb appeal, focusing on fresh landscaping, well-maintained exteriors, and vibrant flora.
The 3D Approach: Undertake the essential steps of Decluttering, Depersonalizing, and Deep Cleaning to ensure your home presents a clean, neutral, and inviting atmosphere.
Interior Updates and Repairs: Attend to interior updates and minor repairs, such as painting walls in neutral tones, patching holes, refreshing old carpeting, and rejuvenating areas like the kitchen.
Odor Management: Address any lingering odors, such as pet-related smells or cooking aromas, as they can deter potential buyers.
How Quickly Will My Home Sell?
The duration it takes to sell your home depends largely on the market climate, which dictates the balance between supply and demand.
Market Climates Dictate Selling Time: The speed at which your home sells is influenced by the balance between supply (available homes for sale) and demand (number of buyers in the market).
Understanding Absorption Rate: Absorption rate is a key metric used to evaluate the rate at which homes are sold in a specific market within a given period. It is calculated by dividing the average number of sales per month by the total number of available homes.
DON'T KNOW WHERE TO START IN HOME BUYING?
CHECK OUT OUR FREE VIRTUAL BUYER SEMINAR
February Local Market Update
The 2024 housing market in Cherokee County, Georgia is heating up with increased activity, particularly in Canton, Milton, and Woodstock.
Market Snapshot: The latest housing data indicates a surge in activity, especially after the typical slowdown in sales, driven partly by seasonal factors. The market is gearing up for increased activity as spring approaches, with expectations of a significant uptick, akin to "March Madness".
Market Outlook: The housing markets in Canton, Milton, and Woodstock are experiencing increased activity, reflecting a broader trend of heightened demand in Cherokee County.
DON'T Do This when Getting a Mortgage
These are the top mistakes to steer clear of when applying for a mortgage.
Large Cash Deposits: Avoid depositing substantial sums of cash into your bank account.
Delay Large Purchases: Hold of on significant expenditures such as furniture, appliances, or expensive vacations on credit.
CoSigning for Loans: Refrain from cosigning until after your transaction closes.
Bank Account Consistency: Maintain consistency with your bank accounts throughout the mortgage process.
Avoid New Credit Applications: Refrain from applying for new credit, be it credit cards or car loans, during the mortgage process.
Number 1 Secret When Buying a Home
The number one secret to buying a home lies in research, education, and strategic planning.
Research and Education: Understand your financial situation, including your credit score, income and expenses.
Pre-Approval: Work with a reputable lender to get a pre-approved for a loan.
Identify Priorities: Make a list of your must-haves and deal-breakers for your future home.
Long-term Planning: Assess whether the home will suit your needs in the long-term and accomodate any lifestyle changes.
Trusted Guidance: Align yourself with a reputable real estate agent who can serve as your trusted guide throughout the process.
WANT TO GET A FREE CUSTOM MARKET PROPOSAL?
January Local Market Update
Housing market in and around Cherokee County, Georgia
Market Condition: Despite a typical slowdown during the holiday season, homes are staying on the market for an average of around 30 days, indicating continued demand and a relatively low inventory compared to previous years.
Seller Opportunities: Sellers are encouraged to take advantage of the current market conditions, with homes still selling relatively quickly. They emphasize the importance of partnering with an experienced agent to navigate the process effectively and maximize returns.
January State of the Housing Market
As we kick off the new year of 2024, both homebuyers and sellers, are you eager to uncover the latest insights into the National Housing Market?
Mortgage Applications Surge: According to Redfin, mortgage applications have experienced a notable 3% rise, reaching their peak in recent weeks. This increase can be attributed in part to a recent decline in interest rates, enticing buyers to take action and pursue home purchases.
Favorable Interest Rate Environment: An encouraging inflation report indicates a decrease in inflation, which suggests that the Federal Reserve is unlikely to raise interest rates and may even consider cutting rates earlier than anticipated. This development bodes well for both buyers and sellers in the housing market.
January Woodmont Neighborhood Market Update
What does the current market hold for you? Sellers, is it the right time to make your move? And for buyers, are you ready to find your dream home in this vibrant area?
Balancing Market: Woodmont Golf and Country Club boast a mere 11 active homes on the market, showcasing a diverse range of offerings from new construction estates to charming homes built in 2019. Prices span from $1,359,000 for a luxurious 5-bed, 4.5-bath estate to $599,000 for a stylish 4-bed, 2.5-bath home with modern amenities.
High Value for Sellers: Expect a high level of interest in your property, potentially resulting in favorable offers. The vibrant market conditions present an excellent opportunity to capitalize on your investment.
WANT TO KNOW HOW WE CAN EFFECTIVELY SELL YOUR HOME?
CHECK OUT OUR FREE VIRTUAL SELLER SEMINAR
December Local Market Update
As Canton, Georgia experiences shifts in its housing market, what overarching dynamics should homebuyers and sellers be aware of in 2023?
Market Evolution: Canton's housing market is showing signs of stabilization, yet a persistent low inventory means homes continue to sell briskly, with sustained buyer interest.
Understanding Median vs. Average: In real estate, the median price reflects the midpoint in a list of prices, while the average is the sum of all prices divided by the number of sales. The recent uptick in Canton's median sales price suggests a positive momentum for sellers.
Comparing Nearby Milton: In contrast to Canton, Milton's homes showcase a different market dynamic, emphasizing the unique characteristics of local real estate landscapes.
December State of the Housing Market
As the housing market evolves in the second half of the year, what essential takeaways emerge for prospective buyers and sellers?
Recovery from Predictions: The residential real estate landscape is rebounding, indicating a shift back to standard seasonal norms after the exceptional "Unicorn Years."
Supply Concerns: While demand stabilizes, a limited housing supply continues, causing potential sellers to hesitate due to replacement home shortages and rising mortgage rates.
Buyer and Seller Intent: Freddie Mac surveys signal robust market activity ahead, with a notable percentage of Americans considering both buying and selling soon.
Let's Look at the Numbers
How are national trends shaping up, and what do they signify for potential buyers and sellers?
Sales vs. Prices Divergence: While the National Association of Realtors reports a drop in existing home sales, a limited inventory has pushed the national median price to near-record levels.
Seller's Market Dynamics: Despite the sales decline, a 3.1 months supply absorption rate suggests the market still favors sellers. The recent trend of properties selling swiftly, often above list price, further underscores this.
Local Insights Matter: With national trends as a backup, the specifics of regional markets can differ significatly.
LOOKING FOR THINGS TO DO?
CHECK OUT OUR MONTHLY CALENDAR OF EVENTS
July Local Market Update
What's the Pulse of the Local Housing Market Mid-2023 in Cherokee County?
Market Activity: The housing market in areas like Canton and Milton is showing signs of increased activity with homes being listed and sold actively.
Time on the Market: Homes in Cherokee County are moving at a brisk pace, selling within weeks of being listed.
Navigating the Market: Given the dynamics of the current market, potential buyers and sellers might benefit from guidance.
July State of the Housing Market
How is the U.S. Housing Market Shaping Up in Mid-2023?
Inventory Challenges: Limited housing inventory continues to affect the market, influencing both sales and mortgage rates.
Market Dynamics: Despite a decline in home sales, the market has seen increased activity from all-cash buyers and first-time homebuyers.
New Home Construction: To address the housing shortage, there's been a notable increase in new home construction across all regions.
What to Expect with Days on the Market
What does "Days on Market" mean for you as a seller?
Rapid Sales Benefits: Short days on market suggest high demand and possible higher sales price.
Longer Listing Implications: Extended days on market could indicate buyer reservations, influenced by property condition, pricing, or marketing.
Strategy Re-evaluation: If a property remains listed beyond the norm, it's time to revisti your strategy, considering price adjustments and enhancing property appeal.
June Local Market Update
Navigating Canton GA's Housing Market: Are you poised to benefit from the current real estate trends?
Quick Sales Amidst Low Inventory: Despite lower stock, homes in Canton are selling faster as the market stabilizes.
Decoding Real Estate Numbers: Monthly stats oftne lag behind, impacting both current decisions and future forecasts.
Strategic Selling: Optimal outcomes in this fluctuating market require careful planning and timing.
June State of the Housing Market
What do nationwide trends reveal aboutt today's housing market?
Mortgage Rate Effects: Low mortgage rates have led homeowners to hold onto properties, reducing new listings by over 20%.
Buer Competition: Decreased inventory is sparking a buying frenzy, yet U.S. median sales prices have seen a 2.8% decline from last year.
Seller's Market Indicator: A 2.7 month absorption rate signals prevailing seller's market.
Money is Speed when Selling Your Home
Maximizing profit in home selling: Why "Money is Spped"?
Speedy Sales: Selling your home quickly can maximize profit, but in high-demand markets, too quick might mean lesser earnings.
Over0Listing Pitfalls: Long-listing times raise costs and suggest to buyers they can bargain lower.
Optimal Sales Tactics: Price competitively, address early repairs, and collaborate with a skilled agent.
Watch our other videos here!
We Love Bringing Homes and People Together.
