Quick update on what’s happening in the the 2010 East Cobb Real Estate Market – specifically in the Walton High School District.
Currently, there are currently 391 “Active” listings on the market in the First Multiple Listing Service (FMLS) in the Walton High School District (highest price is $5,800,000..whoa! and lowest price is $121k, which is pretty much a “cash only” purchase for investors).
There are 5 which are in “Contingent” contract, meaning they’re possibly in the Due Diligence Period (i.e. inspection period) or have Contingencies which could range from a Financing Contingency, Appraisal Contingency or even that the Buyers have a home to sell before they can purchase. This “Contingency” period is basically a period of time from the “Binding Contract” to the “Pending Contract” period, which means it’s cleared contingencies & it’s “pending” closing.
With that said, there are currently 43 Pending Sale with list prices ranging from $2.7M to $139,900 with an average list price of $415,110. There are 7 “pending existing lender approval” meaning these are Short Sale properties that require Bank or Lender approval for the Short Sale contract price & terms. These range from $1.4M to $185,000 at an average of $433,200.
There have been 200 Sold homes in the Walton High School District since 1/1/10. The Sales Prices range from $1,335,000 to $163,000 and the average Sales Price was $463,220 and averaged 89 days on market, selling at an average of 93% of the list price. The only caveat to that is these homes had an average ‘original’ list price of $659,857 and the average list price at time of contract was $498,310 (a 24.5% difference). So what you can take from that is, there are still quite a few homes still going on the market over-priced. However, once they get the price right, they will sell much closer to list price, so it’s much better to create a buzz by pricing it correctly from the beginning because this is a VERY desireable area and the well priced homes will sell fast and Sellers won’t need to negotiate much off of their list price.
Hope this was helpful.
CLICK HERE to see a Real Time list of Homes for Sale in the Walton High School District.
If you’d like to only see homes that are in the Sope Creek Elementary or Mount Bethel Elementary School Districts that feed into Walton, you can CLICK HERE for those homes as well.
Also, if you’re a home owner or interested in a FREE Market Analysis tool to monitor the home sales and Real Estate Trends and Market Activity in your neighborhood/area of interest, CLICK HERE for the FREE Market Snapshot Tool and start keeping an eye on the market and your home’s value and please keep us in mind when the time is right for you to buy or sell!
We live in East Cobb & REALLY love it. We’d love to help you & your family become winners in this market. Our Goal is for you to reach YOUR Real Estate Goals.
Warmest Regards,
The KellySellsAtlanta.com Team of Keller Williams Premier Atlanta
www.KellySellsAtlanta.com | 404-863-8680 | email: hometeam@kellysellsatlanta.com
