{ September 19th, 2011 }
Sandy Springs Million Dollar Housing Market Update
About a year ago, I wrote about the state of the Sandy Springs housing market. Specifically, I focused on homes priced from $999,000 up, located in the desirable Heards Ferry Elementary School district. At the time, here’s what I found:
2010 Year-To-Date Sandy Springs $999,000+ Housing Market
119 Homes For Sale
33 Homes Sold Year-To-Date
29 Months of Supply
Since that post – written on August 13, 2010 – we’ve had quite the year.
To recap:
- The U.S. flirted with default.
- Daily talk of double-dip recession permeated the national dialogue.
- Weekly talk of Europe’s march towards total meltdown.
- 2012 Presidential cycle shifts into full swing. A multitude of voices begin assuring the American public that economy will remain in tatters until the current administration takes permanent leave.
With all that said, I bet you can already guess what’s happened at the top of the market in Sandy Springs. Right? Right.
2011 Year-To-Date Sandy Springs $999,000+ Housing Market
79 Homes For Sale
38 Homes Sold Year-To-Date
17 Months of Supply
If you’re scoring at home, here’s how the last year went within the boundaries of Heards Ferry Elementary, for homes priced at $999,000+:
- Total homes on market reduced from 119 to 79 (34% reduction in inventory).
- Total homes sold increased from 33 to 38 (13% increase).
- Months of housing supply reduced by a full year, from 29 months to 17 (41% reduction)
The moral of the story: Be careful in evaluating what the talking heads tell you about the health of the economy, especially when you’re thinking about whether you should buy or sell a home. Granted, one year in one sub-market means very little in assessing the the overall housing market, but at the end of the day it’s your local housing market that matters.
