Happy New Year! I’ve already emailed this to my Sun City Peachtree clients, but I wanted to post it online for others to view.
Some quick key points: Inventory is way up, but closings are down. However, prices for sale and sold properties are increasing by double digits. Days on the market have significantly increased (at least percentage-wise – up 77.3% 22 to 39 days).
The Sun City Peachtree resale market has been strong. Although listings were up almost 40% compared to 2022, closings were down by almost 15%. There were 146 resale homes listed in 2023 (compared to 105 in 2022). This included basement homes, loft homes, and golf course homes. However, the sold homes were down to 81 in 2023 (compared to 95 in 2023).
The market really showed up when both listing prices and final selling prices were up by over 10% compared to 2022. The average listing price in 2022 was $370,591, and it was $409,484 in 2023. The selling price was $400,999 in 2023 (compared to $364,383 in 2022).
We do see a little tightening (not much, though) of the market when you look at the listing price to selling price ratio and the days on the market. Home Sellers must wait an extra 17 days to get an acceptable offer.
Homes are abundant on the market right now, and many have gotten caught up in a little game that I like to call Follow The Loser. This means there is opportunity. Please contact me at (678) 871-9660 to discuss the market and my unique perspective.
Wishing you beautiful moments, treasured memories, and all the happiness a heart can know. Happy 2024 to you and yours!
All my best,