Marietta Georgia Real Estate Market - 2011, let's wrap it up. I've analyzed the Marietta GA real estate data for the last 7 years. This is for single family residential and does not include condos or townhomes.
In 2005, 3015 homes sold with an average of 94 days on the market , 97.8% of list price to sales price and we had 4.4 months of inventory. That tells us that if nothing new came on the market, we would be completely sold out in 4.4 months. Homes were selling fast and furious and there was a lot going on in Marietta Real Estate. That's what we call a seller's market.
In 2006, 2,846 Marietta homes sold with an average days on market on 95. Homes were still selling at 97.5% of the asking price. We had 4.7 months of inventory.
In 2007, less homes were sold, 2,513 with an average days on market of 98 days, selling at 96.9% of list price and then we had 5.3 months of inventory.
In 2008, 2034 homes in Marietta were sold, now taking a little longer to sell with 109 days on the market and selling at 95.6% of asking price. Then we really start to see the inventory rise with 6.6 months supply of Marietta homes for sale.
In 2009, the number of Marietta homes sold drops to 1982, that's a 35% drop in the number of homes sold. The average days on market increased to 122 for the Marietta homes that sold. Homes were still selling at 95.2% of list price. Less homes selling meant we had 6.8 months supply of homes for sale.
In 2010, we saw an increase in the number of homes sold, with 2067. The average days on market decreased to 116. Of the Marietta homes that sold, they did so at 94.9% of list price. Inventory shrunk slightly to 6.5 months supply.
In 2011, we saw an even better increase with 2326 Marietta homes sold. The average days on market increased slightly to 120. Marietta homes sold at 94.9% of list price. The housing inventory in Marietta has decreased to 5.8 months, the lowest since 2007. As the chart below illustrates, 2011 also showed us the most Marietta homes sold since 2007.
What does the chart below mean? In one sentence, the housing inventory in Marietta has decreased to 5.8 months, the lowest since 2007! That means we have less homes to sell, which can be a great reason to put your home on the market now. We need good homes to sell. The buyers are still out and loans are still available for as little as 3.5% down.
If you're thinking of buying or selling a home in Marietta Georgia, call local Realtor Jen Bowman with Keller Williams Realty at 404-456-5024.