How Has Our Pope Area Market Changed?
Thinking of selling your Pope school district property this year? If so, check out this quick update on what’s been happening in our market.
A lot can change in just a few months, which is why we’re back today to share a quick update on how the Pope school district’s real estate market fared during the third quarter of 2019. To give you a better perspective on these recent developments, we’ll be comparing this year’s data to what we saw at this same time last year.
First of all, the number of sales in the Pope school district’s real estate market dropped 14% year over year, but the average sales price slightly increased—going up 1% to $430,000. In other good news for home sellers, the average list-to-sales price ratio is now 98%, meaning sellers are currently earning a majority of what they’re asking for their homes.
The saying, “good things come to those who wait,” definitely applies here, though, as it now takes an average of 52 days for homes to go under contract. This is 8% longer than it took during Q3 of 2018.
All of this data, in conjunction with the fact that we currently have just 2.8 months’ worth of inventory, signals that we’re still in a seller’s market. With that said, all East Cobb area markets are expected to enter a balanced market in the near future.
The days of getting incredible double-digit increases for our year-over-year statistics may be coming to an end, but, as this update makes clear, we’re still seeing a lot of positive developments in our local marketplace.
The bottom line is that if you’re thinking of selling your home, you need to be paying close attention to market data like the statistics we’ve shared today. In terms of how you price your home, it’s best to look at pending listings rather than those that have sold in the past when you gather data from comparable properties.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.