Market Update for City of Peachtree Corners

In the City of Peachtree Corners 20 homes sold in August 2012. The same time period a year ago there were 24 homes sold. Year to date in The City of Peachtree Corners 211 homes have sold compared to 143 for the same period of 2011. There was a slight dip in August 2012 but sales overall for this year have been the best in quite some time.

There are 53 homes under contract in various stages waiting to close. This is another good sign for the market.

The average price of a home that sold in August, 2011 in the area which is now The City of Peachtree Corners was $276,696 and the average price of a home that sold in August 2012 was $278,128 in the City of Peachtree Corners.

Days on the market in August 2012 averaged 71 days. In 2011 for the month of August the average number of days on the market was 126.

August 2012 closed out with 115 homes on the market which is up slightly. As reported above there were 20 homes sold in the past month. If all factors remain the same, it will take approximately six months to sell these homes.

This is an increase of two months over July inventory. I think this shows homeowners reacting to the increase activity by putting their homes on the market in increasing numbers while the market is hot.

Demand remains strong for the local market which traditionally pushes prices upward.

This information was obtained in part from the First Multiple Listing Service (FMLS) which is not responsible for its accuracy.

New on the market this week in Peachtree Corners:

4293 Spring House Lane in Chattahoochee Station $250,000
4821 Outer Bank Drive in River Station $2,188,000

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