Sandy Springs Million Dollar Housing Market Update

Jon Real Estate Leave a Comment

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:

  1. The U.S. flirted with default.
  2. Daily talk of double-dip recession permeated the national dialogue.
  3. Weekly talk of Europe’s march towards total meltdown.
  4. 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.

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