Community Marketing & Real Estate Update

Change is in the air…

As we pushed into November and rounded the corner to December, some clear signs are developing relative to the national real estate market and, specifically, in The Landings:

• Interest rates are approaching 7% and are contributing to a cooling market.
• New Landings home listings in October totaled 15, likely the lowest month in 10 years or more. November began with an even slower pace.
• Our lack of inventory continues to impede sales to our backlog of buyers, and November’s overall Landings home sales pace slowed markedly.
• Price reductions of unsold listings are occurring regularly after essentially evaporating over the last two years. Overall prices are not down substantially but are softening a bit.
• Landings sellers shouldn’t necessarily expect to receive a price like their neighbor received as recently as six to18 months ago -- initially setting the appropriate price for listings is more critical than ever.
• Days and time on the market is beginning to increase.

However…

• Inquiries through our national and local marketing are up 6% over last October year-to-date and are coming from a broad geography.
• Resulting Discovery Visits are down slightly from last year but are 3% over the last “normal”/pre-COVID year of 2019.
• The Company’s backlog of active buyers from our National Marketing efforts is still substantial – we just need the home listings to sell them!
• The Company remains the highest and best chance for a sale.

The support of Landings’ sellers choosing to list with the Company, your referrals of friends and family, and the Company’s investment of more than $12m in national marketing over the last nine years, and at no cost to the community, are all contributing to Landings home values and our team’s stellar performance through October. Please see charts below for more details.

If you’re a current homeowner considering a move, we can guide you to properly position your home to sell in this quickly changing market and/or help you find your next dream home in The Landings.

We have large numbers of buyers visiting every month and many working with us in The Landings every day. Proper preparation, pricing, and promotion are the keys to success in maximizing your value and decreasing your home’s time on the market.

If you are interested in selling your home and/or looking to buy another and want to learn more, please call one of us today (912-598-0500).

The Landings Company is 100% self-funded and can only continue with your support when selling your home, referring friends and family, or renting your home. Thank you again for your support this year!

Your Company, The Landings Company!