The Walton Q3 2019 Market
Today I’ll share the Walton area’s third-quarter real estate market update.
As I usually like to do, I’m delivering the most up-to-date reporting about what’s happening in the East Cobb market. This blog post will concentrate on the Walton real estate market for quarter three of 2019.
Our market is balancing. What I mean by balancing is that there are indicators that show we’re moving from a seller’s market into a balanced market, which we haven’t been in for many years. This is normal and what was expected, so there’s no cause for apprehension. Let’s dig into the data:
In the Walton area, there is a 4.6-month supply of inventory, which is higher than what we saw this time last year. This means that the market is favorable to both buyers and sellers at this time. We should have a little more inventory and it’ll take a bit longer to sell homes. The number of sales went up 12%, which is wonderful.
However, the average sale price dropped 7%. This is a statistic I’ll keep a close eye on in the fourth quarter and let you know what happens. The average sale-to-list price remains consistent at 95%. It now takes about 10% longer to get a contract, with the average days on market now being about 63 days.
East Cobb is still doing well, most of our areas are still in a seller’s market. However, I believe all areas of East Cobb will be heading into more balanced markets soon. The days of getting incredible double-digit year-over-year increases in prices may be ending. If you’re considering selling your home this year please make sure you’re looking at the data that’s available today and what’s active. We want to make sure you’re pricing your home for what’s forthcoming, not what’s in the past.
If you have any specific questions or want to know the data of what’s happening in your neighborhood or how it relates to your home, please don’t hesitate to reach out by phone or email. We enjoy studying the data, and we’ll communicate all the facts to you.