October Market Update Summergrove, Newnan GA.

By
Real Estate Agent with Coldwell Banker Bullard Newnan, Peachtree City, Atlanta Metro Broker GA: 415935

Welcome to Summergrove Fall 2021 on the East side of the City of Homes, Newnan Georgia.  The Fall foliage this year has been exceptional.  This is Lake Summergrove, one of the central features in this large planned community surrounding a beautiful golf course, trails, hills, obviously lots of gorgeous trees and water as well.

Summergrove, Newnan Georgia    Summergrove

Summergrove Market Data, November 2021

Current data from the Georgia MLS show a three week housing supply, with 9 active properties, 15 Pending sales and 12 Sold properties.  The below market data is for the month ending November 2021, verses November 2020

                         Average         Medium       Average Days on Market: 15  -50%

List Price:      383,302            397,500        Medium Days on Market: 6    -50%

                         357,620           357,450

    vs Nov 20'  + 7%                    + 11%                    

Sold Price:    365,952             360,000

                        294,600            282,350

    vs Nov 20'  + 24%                 + 28%

 

Newnan GA Housing Market

Coldwell Banker Bullard's Newnan office is located at Summergrove.  We also are a drop off location for Toys for Tots.  If you have any new toys that you could donate for kids in need, please give me a call and I'd be happy to come pick them up, or you may drop them off at my office during regular business hours.  

 

Posted by

Scott May, REALTOR, Certified Residential Specialist at Coldwell Banker Bullard, Newnan Georgia. Office: (770)-254-0079 (Text or Call me Direct: 509-863-5362) Your Trusted Proactive Real Estate Advisor serving Newnan - Peachtree City and the Greater Metro Atlanta area with more than 12 years of experience in Residential Real Estate. I am never too busy for your questions or referrals.   

Member: Newnan Chamber of Commerce.        WWW.ScottMayiHelpyou.com   

Comments (3)

BethAnn Long
RE/MAX Inland Empire - Spokane, WA
Realtor, CRS, e-PRO, Spokane Wa Real Estate

Hey Scott,  great information! I am glad you continued in your real estate career after you moved from my neck of the woods, ALL THE BEST to you !! 

Dec 01, 2021 12:24 PM
Scott May, CRS.

Thanks BethAnn.  I'm into my 12th year already can you beleive it!?  Time fly's as they say.  I'm still working on some referals with partner agents out west.  I'll keep you in mind for future stuff for sure.  Here in GA our key boxes open the entire State.  Can you beleive that?  I still work mainly the Atlanta area and specifically the communities around all these gorgeous golf course to the West, the SouthWest and South of Atlanta, specifically Newnan, Peachtree City, Senoia, Fayetteville, Douglasville, Carrolton areas and it's where I grew up at too.  I'd love to work those big tall condo buildings though in Midtown Atlanta...there's some beautiful properties around these parts that for sure, and the amount of architectural fetures and care in the homes is outstanding!  If you ever need a quick get away your always welcome to visit. I keep a nice guest room.  Oh, also, I started painting.  Can you believe it?  I'm working with oil paint at a small art studio on the town square.  Love it!   Hope all is well BethAnn.   I miss you and everyone.

Dec 01, 2021 02:53 PM
Gwen Fowler-864-638-3599 SC * Mountain* Lake*Home
Gwen Fowler Real Estate, Inc - Walhalla, SC
Gwen Fowler Real Estate, Inc.

Great information!! Are you seeing a change in properties time on the market or multiple offers?  

Dec 01, 2021 01:39 PM
Scott May, CRS.

we went from about two weeks of inventory 3 to 6 months ago (Summer quarter), verses the .73 months of inventory (this past quarter) or a little more than two weeks, so that suggests that it is trending in the directio of maybe cooling a bit, but that's a comment to be taken with extreme caution.  That pendulum is still smashed up against the wood in the clock on the firm side of it being a "sellers" market at the extreme level and I don't think that's going to really shift until interest rates increase such that it reduces demand.  Is that small change significant in terms of it being seasonal?  I don't know the answer to that but maybe with more data as we move into Winter.  We do know that somewhere between 3 and 5 million homes should have been, or could be, built across the entire United States to take up the slack in the demand and it's been said by experts that what we are experiencing is still related to the recovery after the crash more than ten years ago where builders left the market place, lenders tightened up the slack etc...supply vs demand; economics 101.  Good question.  Thanks for visiting my blog and I love SC.  What a beautiful state!  I recently visited the Columbus and Greenville area.  Loved it!  Where is Salem located?

Dec 01, 2021 02:48 PM
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Hi Scott,

Thank you for sharing the real estate information. 

Buyers and sellers in your area will benefit from your expertise. 

Wishing you continued success.

Bob

Dec 03, 2021 02:45 PM