Data shows sluggish start to 2020 for Dunwoody home sales

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Despite slow number of closings in January, real estate agent describes competitive market in Dunwoody

Data shows Dunwoody's home sales have had a bit of a sluggish start in 2020, according to Redfin. But despite the numbers, one real estate agent describes a desirable market with high demand.

The most recent data available shows that just 34 houses sold in January in Dunwoody. That makes it the slowest month for sales since January 2016. But Realtor Karen Cannon notes that the houses closed in January tend to be deals that were put together during the previous quarter — a notoriously slow season.

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Cannon expects data in the next couple months to reflect the activity she’s been seeing on the ground in Dunwoody  — where she says low inventory is creating high demand in an area often seen as attractive for its location and school systems.

“We’ve seen a big uptick in activity from buyers and sellers since the beginning of year,” Cannon said, noting people who may have been on the sidelines during the holiday season have stepped back into the buying and selling process.

ajc.com

But, even when factoring seasonality, this January was a dip in sales from years past. During the same time period the year before, 55 houses sold in Dunwoody — meaning 2020 had a near 40% decrease year over year.

Low inventory may play a factor — even though more than 50 new houses were listed in January — scarcity remains a factor in both Dunwoody and surrounding areas. Cannon notes that that demand can be good news for sellers.

“I think the time is now to sell. You don’t have to wait until April or May or June anymore,” she said. “We’re finding some of our sellers have had great success since the first of the year.”

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In the first month of 2020, the median sale price in Dunwoody was $393,000, according to Redfin. That’s down from the 2019 peak of $483,000 in September, which was an outlier, and $408,000 in January 2019.

However, despite median prices seeing a drop, price per square foot in Dunwoody continues be higher than surrounding areas like Roswell and Sandy Springs.

In January, the median sale price were square foot was nearly $193, the highest it has been in a pretty steady climb since 2010.

ajc.com

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While price per square foot dropped slightly in the slower months of November and December, January’s numbers indicated a strong year ahead for Dunwoody’s market — the price per square foot figure for the first month of the year was more on par with peak months such as April and July than it was with previous Januarys.

For homebuyers looking to purchase in Dunwoody, Zillow projects it's a sound investment. The real estate company predicts values will rise 3.5% in the year ahead — solid growth over last year's 0.6% increase in values.

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