If It's Wednesday -- It Must Be Market Conditions Wednesday!

Yes, that's right. If it's Wednesday, it must be Market Conditions Wednesday. Each week, on Wednesday, when I am lucky enough to remember it's Wednesday, I provide a market snap shot of current market conditions affecting a specific city in the Atlanta metro area. Wednesday's have become known as "Market Conditions Wednesday", as I publish details about what is ACTIVE, PENDING, SOLD in one of Atlanta's major cities.

Today, we focus on the city of CUMMING.

Cumming is located in Forsyth County, Georgia and north of the city of Atlanta. The closest neighboring cities to Cumming include Canton and Ball Ground to the West, Daswsonville and Gainesville to the North and Alpharetta to the South. The population was 4,220 at the 2,000 census. Census estimates of 2005 indicate a population of 5,802. The city of Cumming is experiencing new growth. The completion of Georgia 400 has helped turn Cumming into a commuter town for Atlanta. The city holds the Cumming Country Fair & Festival every October. The Sawnee Mountain Preserve also provides views of the city from the top of Sawnee Mountain. In 1956, Buford Dam, along the Chattahoochee River, started operating. The reservoir that it created is called Lake Lanier. The lake, being a popular spot for boaters, has generated income from tourists for Cumming as well as provide a source of drinking water. However, because of rapid growth of the Atlanta area, drought, and mishandling of a stream gauge, Lake Lanier has seen record-low water levels in recent years. In 2009 and 2010 the lake is finally now at full pool for the first time in what residents feel has been a very long time.

According to the latest FMLS data and as I write this, there are currently 73,444 homes on the market in the entire Atlanta metro area. Likewise, as I write this, there is a total of 1,474 single family homes on the market in Cumming and a total of 170 condo or town homes available and actively listed for sale in Cumming.

Actively Listed Single Family Homes
This week, actively listed single family homes in Cumming range in price from $19,000for a 1966 A-frame cottage with 1 bedroom/1 bathroom located in close proximity to GA-400; to a sprawing gated estate home featuring 7 bedrooms/9 full and 11 half bathrooms on more than 20 acres. This fabulous home offers a 2 lane Brunswick bowling alley, 50's style diner, sprawling in-ground pool, formal gardens and much more for a cool $25 million which is more than a $25,000 million reduction from what it cost to build the property in 2006.

Actively Listed Condo / Town Homes
Active Cumming Town Homes / Condos range in price from $54,000 for a 2 bedroom/2 full bathroom 1976 townhome just a short walk from the lake to a 1 level ranch style condo with a 3 car garage, 3 bedrooms/2 full and 1 half bathroom home in Ballantrae at Creekstone for $469,900.

Pending Sale
Currently there are 215 single family homes pending sale in Cumming. Of the 215 Pending, there are 23 properties that are awaiting lender approval. These 215 homes range in price from $40,000 to $799,999.

Likewise, in Cumming there are 34 condo / town-homes that are currently PENDING SALE. They range in price from $69,900 to $375,000. Of the 34 properties pending, there are 10 awaiting Lender Approval.

SOLD Properties (5/1/2010 - 7/21/2010)
Believe it or not, homes are selling in Cumming. Since May 1st, 471 single family homes sold in Cumming. The sold prices ranged from $16,850 to $1,099,999. Likewise, during the period, there were 40 condo/town homes sold in Cumming with price tags from $60,500 to $325,000.

So, as you can clearly see, there is strong activity in the Cumming area -- predominately with single family homes. Please contact me if you are interested in a home in Cumming or the Atlanta metro area. I look forward to guiding you throughout the process when the time is right for you. In the meantime, please feel free to call me anytime with your many questions regarding the real estate market in general or specifics regarding the relocation / buying / selling process. I can be reached at 770-399-8108 or sara.hibbard@metrobrokers.com. Don't forget to visit my websites located at www.SaraHibbard.com and www.SaraHibbardRealEstate.com.