About Summer Grove: This is my all time favorite development in the area, although it's a bit like having to pick your favorite children or favorite of your close friends; you love them all, and Newnan-Peachtree City area has no shortage of beautiful homes or developments. Summer Grove is on nearly 2,500 acres, includes something around 30 or so neighborhood distinctive style, almost like a bunch of districts all incorporated into one big place, if that makes sense? The roads are well maintained with many divided Boulevard areas making getting to and from anywhere a breeze.
Amenities are almost unending including a beautiful 18-hole golf course designed to offer a large amount of homes with views of the greens and fairways. You'll also find a bunch of well taken care of parks with kid approved play grounds of a variety of designs, pools, tennis courts, miles and miles of trails and there's even a lazy river at one of the pool locations. Click on the link for a detail list.
Location & Real Estate Info: Summer Grove is located about an hour from Downtown Atlanta, and about 40 minutes from baggage claim. Traffic at Summer grove isn't bad with a well designed network of roads. Commuters do experience a little congestion around the I-85 Interchange. One thing a lot folks like about Summer Grove is that it is close to a smaller downtown area with a real city center and that's what Newnan offers. Residents are within easy reach of great shopping and restaurant amenities.
Home prices at Summer Grove vary according to size and location of course, but as a whole, are at a medium Sales Price of $359,450.00. Days on market is 4 days with move in ready home condition and absorption rates are extraordinarily small, meaning that the development's micro market is in an extreme seller's market. Currently (as of 9/15/2021 )data from the Georgia Multiple Listing Service) there are 4 houses for sale at Summer Grove, 18 are under contract and 49 have sold in the past 3 months. When we divide segments with houses above and below 3,000 square feet pulling solds from past 3 months (as of 9/15/2021). Below 3,000 Sq. Ft., Med Sold Price: $350,000.00, Days on mkt: 4. Above 3,000 sq. ft., Med. Sold Price: $454,950 and 4 days on market. Both segments again: Extreme Seller's Market. Absorption rates are about a quarter of a month, meaning that's how long it's taking to sell through the inventory. We used to consider a normal market as being about 5 to 6 months of housing inventory. That was before super low interest rates fueling demand, new building not meeting demand year over year, increased investment buyers in the market, a younger generation now ready to buy homes in much larger numbers, out of town buyers being able to cash in their chips, as it were, and sell their homes for way more than they paid to buyers also taking advantage of the ultra low interest rates, and then these buyers flush with cash are able to shop for homes in other places, such as this area, to buy what they see as being very affordable and so forth, many times with cash over appraisal, or all cash entirely. This is continuing to drive up housing prices in the area and requiring more effort and creativity to say nothing about patience and tenacity, obviously, on the part of buyers facing short supply and intense demand, to purchase property. I should also add that move in ready, totally dialed in homes for the most part appear to be selling above list price. Other homes maybe needing some work or not as dialed in stay on the market longer in general and appear to sell at or just below list price. Myself, or your favorite REALTOR can get creative with you by narrowing it all down, sifting through the data, and figuring out how to best prepare and position your home to sell. When it's done the right way and the smart way you stand a higher probability of coming out on top and on time with your sale, even in this extreme seller's market.
Seller's need to keep in mind that there is a large pool of fully qualified, vetted and ready to buy folks out there with buyer's agents ready to buy. Numbers show around 90% of folks are buying with REALTOR's, so if you are thinking to sell for whatever reason it's important now more than ever to have all of your ducks in a row ready to market to that buyer ready to move in now...you'll likely have multiple offers and an experienced, qualified REALTOR, such as myself can help you negotiate the best one and manage the sale all the way through to close.
Buyer's need to have the most aggressive strategy in place in order to be competitive in the buying process.
UPCOMING EVENT: Summer Grove Community Yard Sale: Saturday Oct. 6, 2021.