The average time houses are spending on the market rose to 70 days in January, way up from peak homebuying season last spring and summer when it was as low as 19 days. However, homes moved slightly quicker this January than they did at the same time last year. In January 2019, houses were spending about 77 days on the market.
And there may be reason for optimism in number of homes available in Roswell. Of the homes available in January, 141 were new listings. That’s the highest number of homes added in several months and higher than the number of new homes listed in January 2019.
The problem Roswell faces is that there isn’t much land left to build on, Beckwith notes. And since the area is desirable for its school districts and access to major interstates, people tend to stay put.
“It’s definitely a hot area of town to be in,” she said. “I think that Roswell is definitely a sought after area and people love living here, so a lot of people aren’t listing their homes.”
Across metro Atlanta, home sales in January were up about 10% from the year before and, on average, homes sold for about 3% below asking price, according to Redfin. About 9,100 homes hit the market in metro Atlanta in January, which is comparable to the last several years at this time.
Nationwide, low inventory continued to drive up prices in January, according to Redfin.
"Low mortgage rates have brought buyers back to the housing market, but a lack of listings means buyers are having to compete with one another to secure a sale and lock in a mortgage rate," Redfin chief economist Daryl Fairweather said in a statement about January's nationwide housing trends.
That competition certainly exists locally as well. Beckwith notes that she advises buyers to be prepared to make an offer on a property quickly.
“I definitely think it’s still a good time to buy in Roswell, there’s not a whole lot of inventory but if you’re watching and are a smart buyer and get in that area, it’s very sought after,” she said.
Roswell-area homes for sale: