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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Jon

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Jon Effron is widely regarded as one of the leading Realtors in Atlanta, working with both buyers and sellers throughout the metro area to maximize their real estate investments. In 2014, Jon was the #1 individual agent at Keller Williams Intown, one of the largest brokerages in Intown Atlanta. Prior to becoming a Realtor, Jon was the Vice President of Development at Tujay Group, an Atlanta real estate development firm. His career pre-real estate included stints at ABCNews.com, eGroups (now Yahoo! Groups) and Elite Traveler magazine, where he served as the Vice President of Marketing.