July 2023
The Cherokee County real estate market showed a strong increase in the average sales price for the month of July of just 5.6% to $527,002. In addition, there was a slight 2.4% up-tick in the average price per square foot to $202.
Housing inventory remains at near historic lows. New listings for Cherokee County were down 24.9% to 477 for the month of July 2023 compared to 635 new listings in July 2022.
Interest rates have continued to rise, pressuring home buyers into carefully considering their options. While there is still demand from first time buyers, those considering a move up or downsizing are still hesitant about listing their homes for sale. As new construction continues to boost the inventory, I think that we will see more homeowners willing to list.
Woodstock
- Average sales price: $523,554 +7.7%
- Average price/sq ft: $211 -0.5%
- Average days on market: 21 +61.5%
Canton
- Average sales price: $562,217 +8.3%
- Average price/sq ft: $208 +5.1%
- Average days on market: 24 +41.2%
Holly Springs
- Average sales price: $487,400 -15.1%
- Average price/sq ft: $194 -2.5%
- Average days on market: 23 +35.3%
Ball Ground
- Average sales price: $496,130 -18.3%
- Average price/sq ft: $203 +6.8%
- Average days on market: 19 +46.2%
Waleska
- Average sales price: $551,308 +19.7%
- Average price/sq ft: $254 +9.5%
- Average days on market: 26 -3.7%
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