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Real Estate Newsletter
August 31, 2020. Vol 12, Issue 15
[Sales data: Aug 1 to 15, 2020]
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Real Estate Spotlight
1. Over the two week period in Hall County, from August 1 to 15, 2020, Realtors have participated in selling 110 single-family homes with an average sales price of $378,878 and a median sales price of $318,750.
2. Lake Lanier Water Level: 1,071.22 as of Monday, August 31, 2020. Lake Lanier is 0.22 FEET ABOVE above its full pool level and it has been above full pool for 7 straight months.
3. Learn more about US on our new website Q and A with Our Group.
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Sellers are Returning to the Market
In today's housing market, it can be a big challenge for buyers to find homes to purchase, as the number of houses for sale is far below the current demand. Now, however, we're seeing sellers slowly starting to come back into the market, a bright spark for potential buyers. Javier Vivas, Director of Economic Research at realtor.com, explains:
"Seller confidence has been improving gradually after reaching its bottom in mid-April, and now it appears to have reached an important recovery milestone...After five long months, sellers are back in the housing market; while encouraging, the improvement to new listings is only the first step in the long road to solving low inventory issues keeping many buyers at bay."
Even with the number of homes coming into the market, the available inventory is well below where it needs to be to satisfy buyer interest. The National Association of Realtors (NAR) reports: "Total housing inventory at the end of June totaled 1.57 million units, up 1.3% from May, but still down 18.2% from one year ago (1.92 million). Unsold inventory sits at a 4.0-month supply at the current sales pace, down from both 4.8 months in May and from the 4.3-month figure recorded in June 2019."
Houses today are selling faster than they're coming to market. That's why we only have inventory for 4 months at the current sales pace when in reality we need inventory for 6 months to keep up. But, as mentioned above, sellers are starting to return to the game. Realtor.com explains: "The 'housing supply' component - which tracks growth of new listings - reached 101.7, up 4.9 points over the prior week, finally reaching the January growth baseline. The big milestone in new listings growth comes as seller sentiment continues to build momentum...After constant gradual improvements since mid-April, seller confidence appears to be reaching an important milestone. The temporary boost in new listings comes as the summer season replaces the typical spring homebuying season. More homes are entering the market than typical for this time of the year."
Why is this good for sellers?
A good time to enter the housing market is when the competition in your area is low, meaning there are fewer sellers than interested buyers. You don't want to wait for all of the other homeowners to list their houses before you do, providing more options for buyers to choose from. With sellers starting to get back into the market after five months of waiting, if you want to sell your house for the best possible price, now is a great time to do so. It can be challenging to find a home in today's low-inventory environment. If more sellers are starting to put their houses up for sale, there will be more homes for you to choose from, providing a better opportunity to find the home of your dreams while taking advantage of the affordability that comes with historically low mortgage rates. While we still have a long way to go to catch up with the current demand, inventory is slowly starting to return to the market. If you're thinking of moving this year, connect with a local real estate professional today to better understand what's happening in your local market. You'll want to be ready to make your move when the home of your dreams comes up for sale.
Source: KCMBlog, NAR, Realtor.com
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Home Sales in Hall County
August 1 to 15, 2020 Sales in Your Neighborhood
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Featured Listing:
Lovely Ranch Home close to Gainesville and Lake Lanier
2611 Pinebrook Drive
Gainesville GA 30506
$269,900
Rocking chair front porch welcomes you home to this picturesque North Hall Ranch in an established neighborhood. Lovely foyer leads to a formal sitting room that opens into a separate dining room. Large eat in kitchen and walk in pantry. 3 bedrooms/2 bath and a large added bonus room complete with a full bath-perfect for an in-law suite, master suite, or family room. Great back yard, walking distance to Little River Park and close to shopping, Lake Lanier Rowing Venue, and just moments to downtown.
or call 770-718-5255 Office
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The Faces of Hall County Profile
DJ Moe Lyons
Meet Moe Lyons! DJ Moe has lived in Hall County for 20 years and owns Moe's Record Shop on Bradford Street, just off the downtown Gainesville square. His dream was to open his own record shop and share his love of music with the community.
We want to thank Moe for spending time with us recently and telling us more about his life and love of Hall County.
We want to thank Moe for recently spending time with us and telling us more about his life and love of Hall County.
Please enjoy this 3 question sneak peak at his full interview:
Question: Please tell us a little bit about yourself.
Answer: "We've been in Hall County since 2000, I moved here to manage Turtle's Record Store but I left that and worked for the City of Gainesville for 18 years. I decided to open a record store, so I retired from there and that's where I'm at, still in the music business. Technically I've been doing music since about '85, I started working at a record store part time at Christmas in Scottsville, Kentucky, where I'm from."
Q: What is something on your bucket list?
A: "Beside Australia, I would love to go see the Yellowstone National Park and the Grand Canyon."
Q: What is your favorite thing or something unique about Hall County?
A: "Just the square itself, we've got some interesting artifacts and things down here...it's pretty unique."
To read more about the Faces of Hall County CLICK HERE.
We would LOVE your nominations for The Faces of Hall County. Please email them to [email protected].
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Mortgage Rates have been at 50 year lows this month!
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Need a MORTGAGE OFFICER, an ELECTRICIAN, a PLUMBER, an INSURANCE AGENT, an ATTORNEY, a PEST CONTROL COMPANY, a POOL COMPANY, a DENTIST, a DOG WALKER, someone that is a TSHIRT MAKER, a custom CANOE BUILDER, or a RECLAIMED WOOD TABLE MAKER? If you need a GREAT CONNECTION, please call or email us anytime. We would love the opportunity to help you make a great connection!
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If we can ever help you or someone that you know in real estate, please give us a call. We are grateful for your referrals. We strive to give our clients and friends
real value in everything that we do. Thank you for your time and support!
Brad Abernathy 770-540-1548 | Regina Cochran 678-414-0646
CJ Greene 770-540-5879 | Robert Bell 770-654-0507
Ricky Lewallen 770-654-7922 | Jane Fleming 770-519-2333
Abernathy Cochran Group | The Norton Agency
770-718-5255 or 770-536-1250
The Abernathy Cochran Group is the leader in Hall County sales volume in 2019
and for the previous 9 years, too. 10 years in a row!
You get MORE with our collaboration.
We hope you CHOOSE us to sell or buy your real estate.
THANK YOU!
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