River Green Subdivision | Market Watch | Canton, GA

River Green subdivision in Canton, GA is a gorgeous community nestled along the Etowah River. This Master-planned development features townhomes, cottages, ranch villas, single family homes, amenities galore, as well as an onsite elementary school and Discovery Point Learning Center. It’s a widely popular choice for buyers looking for homes in the Canton area. Like many other communities nationwide, River Green has seen its share of market woes during the economic turndown. Let’s take a look at what’s been going on in River Green in 2009:

Currently in River Green there are 39 active listings, ranging in price from $150,000 to $549,000. There are quite a few new homes for sale in this group, both John Wieland new homes and Jeremy Rutenberg new homes, as well as resale homes. There are 3 homes listed as “Short Sales” and 2 homes that are foreclosures. The average list price for active homes is $314,000.

Up markedly from the last time I was looking in River Green is the number of pending sales. Currently, there are 13 pending sales. Many of the pending contracts are on new construction homes. Rutenberg drastically dropped the price on many of his River Green homes, and John Wieland had his first ever sale-of-a-lifetime -- also dramatically reducing prices on standing inventory. Undoubtedly the combination of these price drops resulted in a slew of contracts. The few resale homes that are under contract also had pretty major price reductions. The average list price of the pending contracts is $306,000.

Year to date River Green has had 22 sales, ranging on price from $122,000 to $399,000. 8 of those sales were foreclosure properties. Sellers conceded a range from 2-29% off list price in contract negotiations. Most were in the 10-15% reduction range, with the average sales price being $251,000. Ouch! The foreclosures really hurt River Green here. Additionally, 35 homes had listing terms that expired. Many of those homes went on to relist and are included in today’s analysis.

Providing all of the 13 pending sales close, this would give River Green a total of 35 sales for 2009. 35 sales versus the 39 active homes is a much more stable market from what River Green has seen in the past 2 years. That’s very good news. Now if we can just keep River Green’s values stable as well, we just might fair OK for the next 12 months!

• Rate this Post!

  Select Your Rating:

  • 5 Stars (Excellent!)
  • 4 Stars
  • 3 Stars
  • 2 Stars
  • 1 Stars (Poor)

• Share this Post

  Share With A Friend:

  Your Name Your Email

  Friend's Name Friend's Email

  Optional Message

  Send

• Print
• Social Bookmarking

  Add to Bookmarks: