Year-To-Date Market Report
In this article, I would like to look at how 2019 is performing in Talega versus past years. May of 2019 was by far the best month of closing that Talega has seen in the past 5 years with an increase in sales of 35.7% from 2015. This means the market in March and April was extremely busy considering the standard escrow periods are 30-45 days. June 2019 was not far behind with 31 closings – which is still excellent for Talega. Thus far, halfway through July there have already been 16 closings. However, showings have already started to slow as they do in the summer season, so we’ll have to wait and see how this month finishes out. I have also broken down the total sales and separated it into the first half and second half of the year. As you can see, there is not a significant difference in the two, but the second half of the year is consistently lower in sales volume. This typically affects pricing in the second half because demand cools off as we reach October. Interest rates this year will remain low, unlike last year, so it wouldn’t be uncommon for sales to heat back up towards the end of summer as they have done in the past. I’ll update the chart again in a few months so we can see how Talega is performing.
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