The last quarter is finished…the holiday season has ended, and we are into the beginning of a brand New Year!
As of the writing of my letter, there are 11 homes listed currently in Brookfield, ranging from a low of $395,000 to a high of $1,375,000. With a total of 39 homes sold in 2015, there has been great activity this year.
Brookfield Country Club has been one of the most sought after communities in North Fulton, especially, in recent years. We can attribute it to the value of the homes, the neighborhood’s great location, the convenience to Historic Roswell, the award-winning parks that Roswell has to offer, along with the outstanding Parks and Recreation programs, and the top rated schools! In addition, the lush landscaping is absolutely gorgeous, particularly in the springtime and in the fall.The club is a huge draw, as well as all the neighborhood activities. No wonder there are homeowners in Brookfield who move from one house to another within the neighborhood. We have done so ourselves!
We are seeing a turnover in the neighborhood as many long-time residents are opting to downsize. At the same time, others are moving into Brookfield to be close to the schools for academics and sports as well as for the unique charm of Roswell. Many relocation buyers are also drawn to our area for these same reasons.
During 2015, we saw many homes sell very quickly. In fact, two dozen sold within the first two weeks, often with competitive bids. These were typically homes which had been renovated or were priced lower than market value. And still, some homes, not priced properly in the beginning, have remained on the market for a long time. Price still drives the market, even when the supply is low and the demand is high. With the resources available today, buyers are making well-informed decisions, and they are choosing Brookfield!
Looking back over the past few years…
In 2013, the average sales price in Brookfield was $419,307 and homes were selling at 93.42% of the list price. In 2014, the average sales price was $421,720 and homes were selling on average at 94.35% of the list price. And in 2015, the average sales price was $468,323 with homes selling on average at 95.22% of the list price! So, prices are going up and Brookfield sellers are getting more for their homes.
If you plan to sell in 2016, it is a good idea to get ahead of the spring market’s typical increase in inventory. Since pricing is a factor of supply and demand, the earlier in the year a home is on the market, the quicker it will sell, and often for a higher price since there is less competition.
Right now, inventory remains extremely low, and interest rates are beginning to climb. If you are thinking of selling your home, you will have the best chance to get the highest price right now.
The homes which sell for top dollar are those with recent renovations and lots of “bells and whistles.” So, if you are considering home improvements…updating with the newer granites, darkening the hardwood floors, lightening the cabinets, and updating to granite in secondary baths, it will be money well spent!
We have sold more than 100 homes in Brookfield with eight sales in 2015, and we pride ourselves in staying abreast of market trends and values.
If you are considering a move, give us a call. We’d love to work with you!
Cathi Lund, Berkshire Hathaway HomeServices