Hey everybody, we’re going to give you a market update for Cherokee County, Georgia. It’s also going to include Cobb County and some of the other surrounding counties that we have. This is for April of 2021. We’re going to look back and see what’s been going on up to this year, up to date, of what’s going on in the local market right here in the Cherokee County Housing Market. This also includes Cobb County, but if you’ve been listening to me for a while I always do numbers for Cherokee, and Cobb County kind of mirrors exactly what we’re doing here in Cherokee, so it’s all the same. If you are in the market for a new house then you know the struggle most buyers are having right now. I guarantee that you have asked yourself, ” Why are there no houses for sale?”.
So here’s the story, right? I’m going to try to explain to you what’s going on in the market instead of giving you a bunch of updates and stuff. If you’ve been paying attention you know that you’ve probably already heard that it’s a seller’s market, right? Well, let me kind of explain to you what’s going on because I think there’s a misconception out there that there are no houses, right? Nobody’s selling their house because they can’t find a new one. That’s not necessarily true.
We have plenty of homes that are coming on the market. They’re just selling quicker than they typically would. So this is a healthy market. Imagine a bucket of water. Just think of inventory as the water inside of the bucket. So in a healthy market, the water in the bucket would be about half full. You have new houses going into the bucket and then you have sold properties going out of the bucket. So once again, everybody thinks that we don’t have any houses to sell, or we don’t have any new listings. So let me kind of share with you what’s happened over the last couple of years.
So in 2019, we had 1,879 new homes come on the market within the first three months of the year. In 2020, as goofy of a year that was, we had 1,780 coming in. In 2021, we’ve had 1,756. So that’s pretty even. It’s basically the same. We have the same amount of houses going into the market as we did in the last two years. Closed sales for those three years in 2019, we had 1,160 leaving. In 2020, we had 1,148 leaving. And so far this year we’ve had 1,132 leaving. So once again, very balanced over the last three years.
So what has happened to the Cherokee County Housing Market and why are there no houses for sale? Well, there’s a lot of different things that have happened over the last 12 to 16 months that have depleted this inventory. And that’s going to be a whole other video. We’re not going to talk about that, but just understand that what we typically have is six months’ worth of inventory or as I should say worth of water in our bucket. Right now, the Cherokee County Housing Market bucket is dry, we’re down to like nothing. So what happens is as soon as a new house gets in it barely gets in the bucket and bam it jumps right back out because there’s no inventory in there and this explains why there are no houses for sale.
This is what you need to know. Still a great time to sell. It’s a good time to buy. We have houses coming into the market, they’re just jumping out before they really get into the pool of other Cherokee County Homes. In a healthy market, most agents that you’re working with are typically with you while you are “in the bucket”. They’re in the inventory, they’re in the water. So what happens is a new house comes on the market. You probably see it on one of the popular sites, Zillow or realtor.com. Or if you’re with a KW agent, you’re using the KW app. And you see it, you call your agent and you say, hey this new house is on the market. I want to go see it. You go see it and you end up buying it.
So what’s happening in the Cherokee County Housing Market today is it doesn’t even get into the bucket and it’s already gone, right? So your agent that you’re going to be working with, they got to get out of the inventory. They need to be working with you and looking for homes that haven’t quite hit the housing market yet. They need to be communicating with people and they need to be communicating with other agents to find out what is going to be coming on the market. Because you want to have a leg up before that home gets inside the bucket because once again if it gets even close to being in the bucket it’s going to bounce right back out.
So that’s kind of an analogy of what’s going on in the Cherokee County Housing market and explains why you have been asking yourself,” Why are There No Houses For Sale”. The key that I want you to take away from is, if you’re looking to sell or buy, make sure you got an agent that understands what’s going on in the market and they’re ready, willing, and able to work off-market instead of inside the inventory bucket. If you’ve got a traditional agent that’s just waiting for houses to come on the market you’re going to be very frustrated.
So hopefully that helps explain to you what’s going on in the market and why there are “no” houses for sale. So don’t be fooled. Don’t think that there are no new houses coming on the market and you’re never going to be able to move. You just got to have the right agent to be able to work for you and get in front of these folks before that inventory actually gets in that bucket. So hopefully that helps out. Thanks for listening. If you have any other questions about the market or housing or how we work here at Townsend Realty Group right here in Cherokee County and Cobb County and the surrounding areas, reach out to us. We’d love to have that conversation with you. Until then, everybody has a great day and we’ll talk to you soon. Thanks.
