Woodstock Real Estate Update: March 2016

Spring has arrived, and with it comes the busy season for residential real estate. March is just the beginning of the home buying and selling season in north Atlanta, which you can see in the figures below.

Spring and summer keep Realtors busy for a number of reasons. First of all, homes simply look better in the spring, when the flowers are blooming and the landscaping is nice and lush. Selling your home is all about making a good first impression, and spring in Georgia makes it easier than any other time of the year.

spring real estate in Cherokee County GA

The end of winter always seems to spur people to make a change in their living situations, whether that means buying a house or renting a new place. With lower inventory right now, sellers get to enjoy the benefits of having buyers compete for their homes.

Home appraisal values also tend to rise in the warmer months, and who wouldn’t want to take advantage of that?

March 2016 residential real estate statistics in Woodstock and Cherokee County, Georgia

Woodstock Cherokee County
# Homes Listed  240  653
# Under Contract  134  372
# Sold  158  381
Average Days on Market (DOM)  35  55
Average Sales Price to List Price (Ratio)  99.3%  99.1%
Average Sales Price  $253,027  $263,393

The number of homes listed in March increased from 105 to 240 in Woodstock and from 292 to a whopping 653 in Cherokee County, signaling the kickoff of the busy season. Likewise, the number of homes under contract increase from 83 to 134 in Woodstock and from 204 to 372 in Cherokee County.

Homes sold increased slightly, up 8 and 41 in Woodstock and Cherokee County, respectively. As expected, days on market decreased correlating with the increase in demand, from 53 to 35 in Woodstock and 58 to 55 in Cherokee County.

The sales price to list price ratio increased from 98.4% to 99.3% in Woodstock and 98.3% to 99.1% in Cherokee County, while average sales prices increased from $244,606 to $253,027 and from $253,066 to $263,393.

Ready to buy or sell a home in Woodstock, Towne Lake, or anywhere in Cherokee County? Call The Premier Group today to get started!

(FMLS SF Detached residences data provided by The Premier Group, Keller Williams Realty Partners, Woodstock GA.  Data believed to be accurate, but not warranted.)