If Its Wednesday, It Must Be Market Conditions Wednesday!

Here it is Wednesday again. One of my New Year’s resolutions is to provide a consistent Market Snap-Shot of one of Atlanta’s metro cities each Wednesday all year. With the completion of this one, I’m 3 for 3 in 2011! YES! I'm on the right track!

As you may recall, I started spot-lighting individual cities in the Atlanta metro area last year. As the year progressed, this project didn't get the weekly focus that was originally intended. We are still on track to do better in 2011!

In 2010, we reviewed market conditions affecting the cities of Acworth, Alpharetta, Atlanta, Austell, Ball Ground, Canton, Cartersville, Conyers, Covington, Cumming, Dallas, Dunwoody, Holly Springs, Hoschton and Kennesaw. On January 5th we added the city of Lawrenceville to the list. Last week we focused on the city of Marietta.

Today the spotlight is on the city of POWDER SPRINGS.

Powder Springs, GA is located in Cobb and Paulding Counties. The population was 12,481 at the 2000 census. Census estimates in 2005 showed 14,507 people living in Powder Springs. Geographically the city has a total of 6.3 square miles. Powder Springs offers residents a great trail system including the Silver Comet Trail for hiking, biking and jogging enthusiasts.

To give you a frame of reference, it might interest you to know that as I write this there are currently 60,449 homes on the market and actively listed in the entire Atlanta metro area today.

Likewise, according to the FMLS, there is a total of 553 single family homes actively listed and on the market in Powder Springs. There are also 32 condo / town homes on the market and actively listed in Powder Springs today.

Actively Listed Single Family Homes
This week, actively listed single family homes in Powder Springs range in price from $11,900 for a 1 bedroom/1 bathroom ranch style "fixer-upper" built in 1954 to $1.57 million for a beautiful 27+ acre estate with rolling pasture, 3+ acre lake, 3 bedrooms, 2.5 bath cedar home. Bring the horses. This home is perfect for horses with its barn which includes electricity and water. There is an unfinished space upstairs that is framed for an additional 2 bedrooms and a full bath. This area has a new hot water heater and stainless appliances.


Actively Listed Town Home / Condos
This week in Powder Springs there are currently 32 condo / town-home properties actively listed for sale. These homes range in price from $14,900 for a 2 bedroom/2 full bathroom 2-story town home in the Whispering Glen Complex, built in 1984. This home needs work and is currently bank-owned. The highest priced town-home in Powder Springs this week is located in The Haven at Lost Mountain. This move-in ready home with a finished daylight, walk out basement also features a patio and 3 bedrooms and 2 full bathrooms. The main level is finished with beautiful red oak floors, granite counter tops and exquisite crown molding. This home is currently listed at $263,725.

PENDING SALE
On January 19th at 11:33AM, there are currently 106 single family homes Pending Sales in Powder Springs ranging in price from $25,000 to $950,000. Likewise, there are 5 Condo/Town-Homes Pending Sale today in Powder Springs priced from $14,900 to $169,900.

SOLD Properties -- Single Family Homes
From January 1st 2010 through December 31, 2010 a total of 641 single family homes SOLD and Closed in Powder Springs. The highest priced home to sell in Powder Springs during the year was originally listed at $699,900 and sold for $596,900 or 85% SP/OLP%. It closed after 96 days on the market on 9/30/2010. The lowest priced home to sell during the year was originally listed at $17,900 and sold for $11,500. This was a “fixer-upper” needing major renovations. The home sold for 64% SP/OLP%. The buyer paid 100% cash and the property sold after 15 days on the market and closed on 2/16/2010.

During the month of December 2010, thirty-two single family homes were sold and closed in Powder Springs.

SOLD Properties -- Condos / Town Homes
from January 1st 2010 through December 31st 2010, a total of 36 condo / town homes were sold in Powder Springs. Priced ranged from $15,500 to $250,000.

From December 1st through December 31st, 3 condo / town home properties SOLD and closed in Powder Springs. Prices ranged from $72,000, to $88,000 to $99,900.

As you can clearly see, homes are selling in Powder Springs, GA.

Sara Hibbard is a licensed Realtor in the state of Georgia. Sara provides a market snap-shot of a single city in the Atlanta metro area each week on Wednesdays. Sara is available to answer your many questions anytime at 770-399-8108 or e-mail Sara at sara@sarahibbard.com. Sara Hibbard is Glad Georgia Real Estate Is On Your Mind!