3rd Quarter 2008 Henry County Real Estate
In Henry County, there are currently 3386 single family homes FOR SALE. The average list price is $241,519 From July1st through September 30th, 2008 801 homes sold with an average sales price of $172,920 1165 homes expired unsold 41% sold and 59% expired unsold
For homes listed as foreclosures 82% sold and only 18% expired unsold. A huge difference. The average sales price of the foreclosures in the third quarter was $152,191, 12% less than all sold homes. The average list price of foreclosure homes for sale during the same period was $178,331 or $63,188 less than the average list price of all homes.
The increasing number of foreclosures selling under market, drives prices down. Anxious sellers accept low offers and the prices continue to fall. Sellers who owe more than they can sell for, often find themselves unable to make their payments, and they end up letting their homes foreclose which continues to depress values... and the cycle continues.....
Nobody knows for sure where the bottom is or when the market will turn. Thirty years esperience as a Realtor, through several market shifts, has taught me that the market always comes back. I don't know when, but I believe it will.
The downside of an upturn in the real estate market is that lots of people will be kicking themselves for not buying real estate while the market was down.
If you want to discuss buying or selling, call me for a FREE consultation with no obligation. In any real estate market, the agent you choose is important. In a challenging real estate market the choice is critical.
Call me leslie edwards sells real estate 770.460.9448 RE/MAX Around Atlanta