Mableton Homeowners Report - September 2018 Learn about the current real estate market in Mableton
Hot off the presses! Mableton By The Numbers Homeowners Report for September 2018
- Jackye Mumphrey, The Real Estate Maven and Mableton Specialist
Mableton overall is doing well. There is a bit of a slow down due to the seasonality of the time of year. If past sales are any indication, there will be a brief run up of home values and sales the very last weeks of the year due to scarcity of sellers placing their homes on the market over the holidays. Buyer options we be somewhat limited and closing prior to the end of the year becomes paramount as interest rate are likely to rise at the start of the new year.
Homes that are priced correctly, marketed properly and staged will sell on average in 34 days. If not, most homes in Mableton will need a price adjustment or marketing boost and staging to help accelerate the selling process for those homes. This year around 50 homes in Mableton had to be relisted more than once prior to them obtaining a buyer that could close on the property and more than a few needed to take price reductions of more than 5.5 percent in order to trigger a sale.
Over 80 homes were pulled off the market or expired (failed to sell) during their listing period. Homes that expired were at minimum on the market 3 times longer. Again, a home's failure to capture a buyer could be overpricing (not meeting the market consumption at the price offering),condition (not in shape to meet market demands/too much work for the price) or not properly exposed (poor marketing, bad photos, wrong marketing message).
Currently there are 144 homes on the market at an average list price of $342,042 which is due to a few dozen higher end homes above $500,000 that bring up the average list price along with the lack of inventory in the lower price ranges in Mableton. Typically, over the past 4 years, Mableton's average list price for single family homes has ranged between 242k to 275k during this same time of year. The average days on the market for active listings at this point is 57 days, 3 weeks longer than that average sold dwelling.
Mableton has had 697 listed dwellings sell year to date and currently has 40 pending sales that have rolled over into October. It is estimated with private sales, new home sales and for sale by owners that Mableton has approximately 200 undocumented (unlisted) sold dwellings. In addition Mableton has had 20 listed sales in non-dwelling structures that include land and buildings. Year to date Mableton has had over 93 million dollars in real estate volume trade hands between buyer and seller and approximately 1,469 real estate transactions in all categories: land, multifamily, commercial, single family and townhome/condo which represents about 1/3 of 1% of Mableton's total population of 40,000 residents.
The overall view of Mableton for 2018 is that it has both a steady population satisfied with living in Mableton as well as a stable real estate market that allows home sellers with market ready homes to off load their property and cash out in just over a month's time on the market.
A closer look at the stats:
DWELLINGS LISTED YTD IN 2018 IN MABLETON 30126 1.015
SINGLE FAMILY - 784 AVERAGE SOLD PRICE - $289,536
TOWNHOME/CONDO - 231 AVERAGE SOLD PRICE - $220,831
144 FOR SALE PROPERTY CURRENTLY ON MARKET
92 UNDER CONTRACT PROPERTIES
697 SOLD YEAR TO DATE
SINGLE FAMILY AND TOWNHOME/CONDO COMBINED
FOR SALE AVERAGES
AVERAGE LISTING PRICE - $342,842
SQUARE FEET - 2,774
DAYS ON MARKET - 57
BEDS/BATHS - 4 BEDS 3 BATHS
AVERAGE SOLD PRICE - $270,845
SQUARE FEET - 2,431
DAYS ON MARKET - 34
45 Homes Listed
72 Homes Closed
40 Pending Sales