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Market Absorbtion Rates/Fayette County

by Leslie Edwards

 

 

Market Absorption Rate Results

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Fayette County

Closed Transactions Over:            12 Months 6 Months 3 Months

Number of Closed Transactions:             990        591           298

Average Properties Sold Per Month:       82.5        98.5        99.3

Current Number of Actives:                     1,082     1,082       1,082

Months Supply on Market:                      13.1        11.0        10.9

 

 

 

 

 

 

3rd Quarter 2008 Fayette County Real Estate Market

by Leslie Edwards

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

 

Fayette County First Quarter Market Statistics

by Leslie Edwards

Comparing Fayette Home Sales 1st Quarter 2007 With 1st Quarter 2008

2007  306 Homes Sold and 312 Expired which is about 50-50

2008  261 Homes Sold and 301 Expired or 54% Expired 46% Sold

The number of Sold homes dropped by 15% from 2007 to 2008

2007  Average 1st Quarter Sold price was $325,835

2008  Average 1st Quarter Sold price dropped to $309,228

The difference between the average Sold price and average price of listings that Expired Unsold

2007  $382,393 Expired  $325,835 Sold  $56,558 Difference

2008  $396,614  Expired $309,228 Sold  $87,386 Difference

There are currently 1476 homes listed for sale on Georgia Multiple Listing Service in Fayette County.  The average price of homes for sale is $405,857.

What does this all mean?  The real estate market is own from last year.  While sold prices are still dropping, the list prices continue to increase along with the average number of days on the market.

Even in the worst real estate market, the best homes sell.  The best condition, location, features and of course, the best price.

In the first quarter of 2008 I sold 10 times the national average for real estate agent production.  I have sold real estate for 30 years, through other challenging market conditions and I know when the market comes back it is usually with a vengance.  It may not happen for awhile so if you have to sell, call or email me and let's discuss your personal situation.  If anyone can help you, I can. 

leslie edwards

30 years experience is not expensive

It's priceless

leslie@leslieedwards.com

www.leslieedwards.com

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If you hear of anyone who wants to buy or sell in any of these areas, please mention me and then call me so I can contact them. I appreciate your referrals!