2007 was certainly a tough year for real estate in most of the country — and the same was absolutely true here in Gwinnett County & in Hamilton Mill. The volume of sales ( or lack of such) really tells the tale. In previous years, it was pretty common for 200+ homes to sell annually in Hamilton Mill. This year it was just over 100 homes. That HALF the volume. To illustrate the change in volume, if you make $50,000 per year one year and the next year you make $25,000 WOW, that’s a bad year! That’s what we’re experiencing as a community now. Half the volume feels like no volume at all. That’s the bad news.
The Good news is that things seem to be slowly improving in the last few months. There are several factors that are having a positive effect:
- Delayed Demand — buyers who have been “waiting around” that are finally writing contracts.
- Seller Reality Check — home sellers are getting real with their list prices based on today’s market.
- Stock Market Strength — While Housing is way down, other economic factors are performing well.
So, our predictions are “mildly bullish” ( if you can say that with a straight face).
Be sure to attend the Hamilton Mill Real Estate “Town Hall” Meeting with Diamond Dwellings.
It’s January 28th at 7pm at the Hamilton Mill Golf Club. RSVP to 678.279.4704 or find more info here.
