The Woodstock Real Estate Marketplace has performed much better than most of the Metro Atlanta. Overall the market in Atlanta is at a an all time low point in pricing. Overall Sales are below 2003 levels and prices are at over 20% below October 2010 for the month of October 2011. Average days on the market remained at 89 days up 1 day from the 88 in October of 2010.
Although Prices dropped further in October, sales volumes increased, so that is good news. Sales in October 2011 were up to 106 sales in 2011 from 69 in 2010, that is a 53% increase. Average Sales Price dropped from $189,642 in 2010 to $159,219 on average a drop of 19%, much better than the overall Atlanta Market. Average days on the market increased from 83 to 97 days year over year.
There are currently on average 5 months of inventory based on last months sales volumes in the marketplace with 535 active homes in Woodstock. Sales in the $250K to $350K range have over 9 months of inventory. The market will break to a more seller's lent market when inventories break below 6 months of inventory overall and stay there to the spring market. Sales below $100K are at this point in Woodstock, but that is a result of the bank holding off Foreclosure inventory from the market. We still don't know the effect of this shadow inventory or when the banks will begin to release it into the marketplace.
The market in November and December tend to be the slowest market times of the year, however, homes do sell in this market time and typically the inventory is lower making it possible for homes that would not sell in higher competitive spring and summer markets to sell. With the lower interest rates this is a great time to consider selling a home that will possibly have higher competition in the spring and summer markets to come. Call us today if you have questions about marketing your home in the winter market. We will be glad to assist in getting you the information you need to make an informed decision.
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