3rd Quarter 2008 Fayette County Real Estate Market
There are currently 1350 single family homes for sale in Fayette County. The average list price of the homes for sale is $400,770. From July1st through September 30th: 308 homes sold with an average sales price of $299,044 down from the 1st quarter average sales price of $309,228. 392 homes expired unsold which means that 56% expired and 44% sold.
76% of the foreclosures sold with an average sales price of $235,598 while only 16% expired. Foreclosures tend to be priced way under market, which helps drive the prices down, which forces anxious sellers to sell for less, which continues to drive the prices down. And it goes on and on....
But it is not all bad news. Smart buyers know that this is the perect time to buy. Prices are down, interest rates are low and there are plenty of homes to choose from. Buy low, sell high.
During my 30 years in real estate, I have seen a few really bad markets. When Jimmy Carter was President, although the interest rates were 14% to 18%, people still bought homes. I sold 40 houses in the worst year with no help, no fax, no cell phone and no GPS.
It is never as bad as the media would have us believe. Real estate, like the stock market, moves in cycles, up and down. Buy low, sell high.
If you want to or need to sell and are willing to sell at a discount, call me. Experience pays in any maket. In a challenging market, the agent you choose is critical. I offer a FREE, no obligation, consultation to give you the information you need to make you real estate decisions. Call me. I want to be your resource.
leslie edwards sells real estate 770.460.9448 RE/MAX Around Atlanta Serving South Metro Atlanta