APRIL 2018
Kimberly’s
M A R K E T U P D AT E
Dear Friends and Neighbors, Spring is always such a wonderful season. The flowers are blooming, the kids are playing outside again and neighbors are reconnecting after hibernating inside all winter. Change is in the air, and everyone is anticipating the lazy days of summer just ahead. For those who have received my update over the last several years, you may notice that we are welcoming some new neighbors this time. In addition to the neighborhoods covered by Crabapple Crossing Elementary, which have always appeared in the update, this quarter, we have added neighborhoods zoned for Summit Hill Elementary as well, but only those neighborhoods that are also zoned for Northwestern Middle and Milton High School. I know that some of you will say that it is about time because I have had numerous requests to broaden the area covered by the updates. I agree with you. I strongly believe that the change will make the update even more relevant to those following today’s ever-changing real estate market in our area and how those changes may affect the value of our homes, which is the ultimate goal of the update.
KIMBERLY COUNTER REALTOR® Atlanta Fine Homes Sotheby’s International Realty 1125 Sanctuary Parkway Suite 400 Alpharetta, Georgia 30009 c. 678.938.5885 o. 770.442.7300
For those throughout our newly expanded area, I encourage you to review the sales that are shown on page two of this quarter’s update. You will see that there were 48 homes sold last quarter in our immediate area. In addition to the closed sales, another 38 homes were under contract and listed as pending or contingent. On average, homes sold for almost 98 percent of their listed price. This often overlooked, but important statistic, is a good indicator of a healthy market. However, we must temper our optimism with the probability that there will be an uptick in the number of listings for sale over the coming months. This anticipated increase in inventory of available properties might bring with it some negative pressure on pricing. I suggest that we remain cautious, yet hopeful, for a good spring. The winter weather seemed to have no effect on the number of homes being offered for sale, with 94 homes remaining available at the end of the first quarter. Prices ranged from $324,900 to $2,700,000 with homes varying in size from 1,800+/- square feet of living area to 13,000+/- square feet. The size of a home did not automatically dictate its price, however. This variance in price versus square footage is typical in our neighborhoods and becomes even more evident when we examine the current listings where we found 3,000+/- square foot homes available in the $400,000 price range as well in the $700,000+ price range. Square footage is important, but I think we need to also examine other important factors that affect pricing. When pricing a home, I encourage home owners to evaluate their home’s ACL and compare it to that of others on the market. If you find this statement confusing, I understand. As a REALTOR®, I use ACL as an acronym for the three main factors, other than size, that dictate pricing and determine value – amenities, condition and location. Unlike the ligament in the knee of the same name, a thorough examination of a home’s ACL will not lead to surgery but should result in accurate pricing and a faster sale. As a REALTOR®, I help my sellers evaluate their home thoroughly. Issues regarding its condition are addressed immediately, and appropriate measures are recommended to resolve problems. Only then do we move on to the next step. When the marketing phase begins, my sellers expect me to work diligently to make sure that their home is not just competitive but stands out. We are not interested in the home being part of the chorus. We want it to be the star. Together, I work with my sellers to make sure that every home buyer viewing their property knows immediately that it is truly perfect for them, and therefore should not be passed up. I always have my sellers ultimate goal in mind - an easy sale at the best possible price in the shortest possible time. I hope that you enjoy this year’s First Quarter Market Update and find it helpful. I certainly enjoyed preparing it for you. As one of your neighbors, with three boys attending our schools, I understand how blessed we are to live in such a great area and work hard to make sure that you are kept informed about the market. If you need any additional information on any of the material presented, or if I can help you in any other way, please do not hesitate to call or text me at 678.938.5885 at any time. It would be my pleasure to assist you.
Sincerely,Kimmy “Giving frees us from the familiar territory of our own needs by opening our mind to the unexplained worlds occupied by the needs of others.” - Barbara Bush