One way to judge how the market is performing is to look at the number of homes under contract at the end of the month in relation to the inventory levels - the higher the percentage the quicker the inventory is turning over.  The chart below shows Cumming (areas 221,222,& 223 in the FMLS) or Forsyth County Ga.

In 2007 you will see between 15-18% of the homes were under contract for the first half of the year, then the second half of the year it drops to 8% - that was the beginning of the real estate issues.  In 2008 we see a range of 7% to 12%, but each lower than the prior year.  The good news is in April the pending homes % was higher than the year before and has stayed higher since that time.  That shows the market is strengthening from a resale standpoint. 

From the buyers point of view - remember real estate is all supply and demand.  When supply exceed demand the prices go down.  When demand exceeds supply prices go up.  In todays market the low interest rates and the tax incentives are causing the inventory to come off the market and we are seeing more strength and this charts reflects that.

If you are interested in knowing how a certain neighborhood is performing, such as Three Chimneys or Windermere or Chadbourne, or any other subdivision in Cumming Ga - let me know and I am happy to share you with the stats on specific communities.

If you want to buy a home in Cumming, or are interested in discuss Cumming Real Estate - email me at johnfoster@remax.net or call me at 770 722-7010 - I would love to interview for the job of helping you find your next home.