 |
|
Real Estate Newsletter
July 30, 2020. Vol 12, Issue 13
[Sales data: July 1 to 15, 2020]
|
|
Real Estate Spotlight
1. Over the two week period in Hall County, from July 1 to 15, 2020, Realtors have participated in selling 119 single-family homes with an average sales price of $315,880 and a median sales price of $277,500.
2. Lake Lanier Water Level: 1,071.13 as of Wednesday, July 29, 2020. Lake Lanier is 0.13 FEET ABOVE above its full pool level and it has been above full pool for 6 straight months.
3. Learn more about US on our new website Q and A with Our Group.
4. Hall County’s FIRST HALF 2020 Stats:
Average Home Sales price UP 7%
Median Home Sales Price UP 8%
Number of Home Sales UP 5.2%
|
|
Surge to Suburban Living!
As remote work continues on for many businesses and Americans weigh the risks of being in densely populated areas, will more people start to move out of bigger cities? Spending extra time at home and dreaming of more indoor and outdoor space is certainly sparking some interest among homebuyers. Early data shows an initial trend in this direction of moving from urban to suburban communities, but the question is: will the trend continue?
According to recent data from Zillow, there is a current surge in urban high-end listings in some larger metro areas. The month-over-month increase in these homes going on the market indicates more urban homeowners may be ready to make a move out of the city, particularly at the upper end of the market (See graph below):
Why are people starting to move out of larger cities?
With the ongoing health crisis, it’s no surprise that many people are starting to consider this shift. A July survey from HomeLight notes the top reasons people are actually moving today:
- More interior space
- Desire to own
- Move from city to suburbs
- More outdoor space
More space, proximity to fewer people, and a desire to own at a more affordable price point are highly desirable features in this new era, so the list makes sense.
John Burns Consulting notes:
“The trend is accelerating faster than anyone could have predicted. The need for more space is driving suburban migration.”
In addition, Sheryl Palmer, CEO of Taylor Morrison, a home building company, indicates:
“Most recently, we’re really seeing a pickup in folks saying they want more rural or suburban locations. Initially, there was a lot of talk about that, but it’s really coming through our buyers today.”
The National Association of Home Builders (NAHB) also shares:
“New home demand is improving in lower density markets, including small metro areas, rural markets and large metro exurbs, as people seek out larger homes and anticipate more flexibility for telework in the years ahead. Flight to the suburbs is real.”
Will the shift pick up speed and continue on?
The question remains, will this interest in suburban and rural living continue? Some, like Lawrence Yun, Chief Economist at the National Association of Realtors (NAR) think the possibility is there, but it is still quite early to tell for sure. Yun notes:
“Homebuyers considering a move to the suburbs is a growing possibility after a decade of urban downtown revival…Greater work-from-home options and flexibility will likely remain beyond the virus and any forthcoming vaccine.”
While much of the energy behind this trend has largely been accelerated by the current health crisis, monitoring the momentum over time is critically important. Businesses are discovering new and innovative ways to function in remote environments, so the shift has the potential to stick. Much like the economic recovery, however, the long-term impact may hinge largely on the health situation throughout this country.
Bottom Line
Early data is showing a shift from urban to suburban markets, but keeping an eye on this trend will help us understand how it will ultimately play out. It may just be a temporary swing in a new direction until Americans once again feel a sense of comfort in the cities they’ve grown to love.
Hall County Impact
Realtors in the Abernathy Cochran Group are working or have worked on sales here in 2020 involving buyers from OHIO, IOWA, CALIFORNIA, ILLINOIS, FLORIDA, COLORADO, TEXAS, and IDAHO.
Source: KCMBlog, NAR, NAHB, Taylor Morrison, Homelight, Zillow, John Burns Consulting, Abernathy Cochran Real Estate Group
|
 |
|
Home Sales in Hall County
July 1 to 15, 2020 Sales in Your Neighborhood
|
|
Neighborhood Analysis
If you would like a market analysis or neighborhood analysis like this for your home, please contact us anytime with your address. Thank you.
|
|
Featured Listing:
CITY HOME – WALKABLE to DOWNTOWN
317 Vinings Walk
Gainesville GA 30501
$474,900
This large home will wow you from the moment you walk in! The wall of windows across the back of the house let in a tremendous amount of light! Lovely hardwood floors, open living room/kitchen (with new granite countertops!), and builtins galore! Office and Master on the main, master bath with large soaking tub and walk in closet. The 2nd floor features 2 generous bedrooms and 1 full bath as well as a large bonus room. The back yard is beautifully landscaped. All of this is nestled in the center of Gainesville
or call 770-718-5255 Office
|
|
The Faces of Hall County Profile
Martha Zoller
Meet Martha Zoller! Martha is a media personality on local radio station AccessWDUN. She is married to Dr. Lin Zoller and they have four children.
Martha moved to Gainesville in 1991. She attended the University of Georgia and received a journalism degree then went back to get her masters degree in American Politics in 2016.
We want to thank Martha for recently spending time with us and telling us more about her life and love of Hall County.
Please enjoy this 3 question sneak peak at her full interview:
Q: What is your favorite restaurant in Hall County, and what do you love there?
A: “2 Dog, they have such a great small business story and I like how it is never the same there.”
Q: Who is the most interesting person you’ve met in Hall County and why?
A: “John Jacobs Jr. He was a visionary; he was like the Bill Gates of Gainesville and he saw how communication was coming and was going to go to the masses and he brought cable to Gainesville and had a radio station and created a lot of things for that.
“Also, Frank Norton is a visionary and can always see 10 steps ahead, and I love that about him.”
Q: What advice would you give a crowd of people?
A: “I think the most important thing for people to do is to reach outside their comfort zone and talk to people that don’t necessarily agree with them. Also, to be easier about the people you interact with. I think people think that just because I do talk radio, I am looking for a fight all the time, but I’m not. And I think that if you listen to me over the years, you’ll get that. People used to call me the velvet hammer because I would get to the hard stuff but start out with something softer or something in common and finish the same way. Because of that I have good relationships with prominent democrats even if we don’t agree on issues because we respect each other. “
Interview by Mary Evelyn Brock, Abernathy Cochran Group intern and upcoming University of Georgia junior.
To read more about the Faces of Hall County CLICK HERE.
We would LOVE your nominations for The Faces of Hall County. Please email them to rbradabernathy@gmail.com.
|
|
Mortgage Rates have been at 50 year lows this month!
|
|
Need a MORTGAGE OFFICER, an ELECTRICIAN, a PLUMBER, an INSURANCE AGENT, an ATTORNEY, a PEST CONTROL COMPANY, a POOL COMPANY, a DENTIST, a DOG WALKER, someone that is a TSHIRT MAKER, a custom CANOE BUILDER, or a RECLAIMED WOOD TABLE MAKER? If you need a GREAT CONNECTION, please call or email us anytime. We would love the opportunity to help you make a great connection!
|
|
If we can ever help you or someone that you know in real estate, please give us a call. We are grateful for your referrals. We strive to give our clients and friends
real value in everything that we do. Thank you for your time and support!
Brad Abernathy 770-540-1548 | Regina Cochran 678-414-0646
CJ Greene 770-540-5879 | Robert Bell 770-654-0507
Ricky Lewallen 770-654-7922 | Jane Fleming 770-519-2333
Abernathy Cochran Group | The Norton Agency
770-718-5255 or 770-536-1250
The Abernathy Cochran Group is the leader in Hall County sales volume in 2019
and for the previous 9 years, too. 10 years in a row!
You get MORE with our collaboration.
We hope you CHOOSE us to sell or buy your real estate.
THANK YOU!
|
|
|
|
|
|
