Cumming

Hello and welcome back to Cox Brokers. We’re excited to bring you the latest market update for August 2023. Whether you're a buyer or seller, this update is designed to keep you engaged and informed about the current real estate landscape in our beautiful city.

 

Let's dive right into the numbers. Currently, we have a very competitive market with only 1.49 month’s supply of inventory. This means that if no new listings were added, it would take just over a month and a half to sell all the homes on the market. This low supply is indicative of a strong seller's market, where demand outweighs the available inventory.

 

But it's not just the current month's supply that's impressive. Over the last 12 months, we have witnessed a significant decrease in month’s supply of inventory, with a decrease of 13.37%. This trend indicates that our market has become even more competitive, as buyers are keen to snatch up available properties.

 

Now, let's talk about the List to Sold Price percentage. In Cumming, Georgia, sellers are achieving an impressive 99.5% of their asking price. This high percentage indicates that sellers have been able to negotiate favorable deals, ensuring they receive a solid return on their investment. For sellers, this is great news, as it reflects the strong demand for properties in our area.

 

Moving on to the Median days on market, we have an astonishingly low number of just 11 days. This means that, on average, homes are being sold within two weeks of being listed. This swift pace indicates a high level of buyer interest and a market that moves quickly. For sellers, it's a great time to list your property, as the demand is high, and homes are selling fast.

 

Finally, let's discuss the Median Sold Price. Currently, the median sold price in Cumming, Georgia stands at $590,000. This figure represents the middle point where half the homes sold for a higher price and half sold for a lower price. It's important to note that our market continues to show strength and growth, with prices holding steady and even increasing in some areas.

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So, whether you're a buyer or seller, these market statistics indicate a thriving real estate market here in Cumming, Georgia. As trusted REALTORS® at Cox Brokers, we are here to guide you through the process, providing expert advice and personalized service to ensure your real estate goals are achieved.

 

If you have any questions or if you're ready to make a move in this exciting market, please don't hesitate to reach out. Stay tuned for more market updates and valuable insights from us here at Cox Brokers. Until next time, take care and happy house hunting!