Marietta Housing Market Report Fall 2019
In today's Coffee with Connie, I dives deep into the housing market conditions in the Marietta Square District. Whether you are looking to buy or sell (or you just like following the market), having real-time facts for the specific location you are interested in is critical.
Hi. If you're watching the news or you're reading the paper, you might be hearing wind of the fact that the housing market is shifting or it's slowing down. That can be the case nationally. But I'm going to share with you today exactly what's happening around the Marietta area, and how that will impact you if you're buying or selling. Stay tuned for today's edition of Coffee with Connie.
Let's get right into it. It is currently the end of September. The information I have about the Marietta housing market is as of the end of August. But I want to share with you some important statistics, and how that's going to impact whether you own a home and you want to know the equity of your home. Or if you're thinking about buying or selling. Today we're specifically going to look at the Marietta Square District.
It's going to give you an idea of what's happening because we're having more and more of our clients who are interested in housing in the Marietta Square.
The average sales price, the average sales price was $345,000. What do you get for 345,000 in Marietta?
Well, you can get this cute little two-bedroom bungalow located off Cherokee Street. I'm putting all the listing information here. It's listed for 360,000. It's two bedrooms, but, you can just walk to the Square to Octoberfest, and stumble home after you've tried all 120 vendors craft beers.
But if you're okay with living a little bit farther away from the Square, there's this great property right here. It's a four-bedroom home. It's at Parkview at Barrett Green and it's listed for $349,000. So, you do have some options, two-bedroom, four-bedroom, there are fixer-uppers, and there's still things to choose from.
The other thing I love to look at is the price per square foot because if that goes up or down, it's the best indicator of whether or not the home that you're currently in is depreciating in value. The average was $172 per square foot and that is an increase of 12% over last year. Prices are continually going up in the Square. I think that's because there's just not enough land to build on right now. So. the cost of land is so expensive, that it's driving prices up for new construction, which in turn is driving up prices for resale properties.
Currently, there are 81 homes for sale, which is 3.6% less than we had last year. We are still struggling with an inventory situation. In fact, the months of inventory is just three months. The National Association of Realtors says that anything less, anything below six months is advantageous to the seller. I'm speaking to you, all you sellers. This is one aspect that you need to consider. If you're thinking of moving, it won't take long. Your home will probably sell pretty quickly.
In fact, the average number of days on market for all homes is 29 days. If the price of your home is lower than the days on market will even be less than that. In the last 12 months, we've had 283 homes sell in the Marietta Square District. That's 8% less than last year. What does all this mean? It means if you're thinking of moving and you live in the Square, call me today, and we will get you on the market and get you moved fast and into the next home.
If you're thinking of buying, you're going to need us even more. It is increasingly difficult to find the perfect home on the Marietta Square. But thankfully we live here and Dan and I work here and all the Realtors that we work with are familiar with what's going on in the inventory. We're able to find homes oftentimes before they hit the market. We would love to work with you. Feel free to give us a call and I hope you're having a great day.
The charts and data presented in this video are available HERE.
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Our Video Journey
For the last 5 years Connie has hosted a video blog (previously titled "Coffee With Connie"). In these short, instructive videos she provides insight on the real estate market, home ownership, and even some quality of life concepts. We invite you to experience Dan and Connie's journey as Realtors and owners of a boutique brokerage.