Marietta Real Estate

If you’re house hunting or thinking of selling your home in Marietta, here are a few insights that will help you better understand the current Marietta real estate market.  

When you’re ready for your own FREE Market Analysis give us a call today or request one now.  In the mean time, take a look at some up to date marietta real estate statistics. 

How’s the market?

Typically, when someone ask this question they’re wondering what homes are selling for? A good statistic to determine how things are going is Median Sales Price. (we us median rather than average to determine our average. “Median” is the value in the middle…half of the sales sold for less than this price and the other half sold for more. “Average” is the average we typically think of when we add and divide values. In this case the real estate value may be too heavily influenced by a few really expensive homes, or homes in poor condition and sold significantly below market value.).

How many homes have sold?

What do you think?  Have you seen a lot of for sale signs in the neighborhood recently? Even though people may be selling and buying, number of closed sales may be an indicator of the health of the real estate market.  Rather factors such as interest rates, inventory, economy, and affordability may be affecting decisions on why sellers are selling and buyers are buying. (Note that prices do not account for seller concessions such as closing costs)

How long is it taking to sell a home?

What are you seeing?  Are sold signs going up fairly quickly? Or does it seem like properties are taking a little longer to sell and homes are sitting on the market longer? Days on Market (DOM) is how long it takes for a listing to receive and accept an offer and for the buyers to complete their contingencies (i.e. inspections).  During this time the home is no long for sale and is on it’s way to closing and just waiting for completion of lender and title work. (Be aware that these numbers from the onset can be misleading. Many times a seller may drop the price and re-list to reset their DOM. When we do a market analysis on your home we will provide you with the complete history of a comparable listing rather than just current DOM.

Is it a buyer’s or seller’s market?

This statistic is one of the better indicators of the current balance of the real estate market.  The Months Supply of Homes for Sale (also known as Absorption Rate) is the estimation of how long it would take to sell every home on the market if no new listings hit the market.  For example, if there are 100 active listings, and the average number of homes sold per month over the last year was 20, the Months Supply of Homes for Sale would be 100/20 =  5 months (five months to sell off every home on the market).  

What does this tell us?
If market conditions do not change and if no new listings come on the market it will take 5 months for the current inventory to sell at the current pace of the market. A balanced market's Again here with CLOSED SALES Chart Again here with DOM Chart absorption rate is typically between 5 - 7 months. A rate below 5 is considered a seller’s market and a rate greater than 7 is typically defined as a buyer’s market.

How much is my home worth?

When we do a market analysis on your home (or one that you are considering to purchase) we take into account many factors including the criteria below.  We then crunch the numbers and let you know what the market indicates your home is worth.   If you are interested in finding out what your Edina home is worth, give us call today or complete this form right now.

• year built
• total finished sq ft
• above ground finished sq ft
• foundation size
• number of bedrooms (upper or lower level)
• number of baths (# of full, 3/4, and 1/2’s)
• level of bedrooms and baths (upper or lower)
• garage (stalls and attachment)
• yard (landscaping, fence)
• location in the neighborhood
• updates, ages of updates
• condition of home