Clayton County Market Update January 1 -April 30, 2008
There are currently 3318 active single family residential properties in Clayton County listed for sale in Georgia MLS. The average list price is $144,762 and the average number of days on the market is 133.
In the past twelve months 3161 listings sold with an average of 109 days on the market and an average sales price of $113,012 . That sounds like a lot of home sales in the past year.
However, during the same 12 months, 5110 homes expired unsold after an average of 180 days on the market and an average list price of $150,056.
38% SOLD and 62% Expired UNSOLD. One clear explanation is that the difference in the list prices of the homes that did not sell and the homes that did sell is $37,044 which indicates that the majority of the unsold homes were overpriced.
From January 1 through April 30, 2008, there were 991 homes sold with an average sales price of $97,502 a drop of $15,510 from the 12 month average.
1530 homes expired unsold during the same period with an average list price of $153,594, up $3538 from the twelve month average list price.
Average sales price goes down while the average list price keeps going up which only cause more properties to expire unsold.
There is increased competition with foreclosures that are selling well below market.If a homeowner has not been in the house for more than 5- 6 years or if they have refinanced and increased their mortgage amount, chances are the house is worth less than when they bought. Sellers are writing checks to sell their homes and many sellers, unable to write the check are losing their homes in foreclosure.
The good news is that even in the worst market the best homes sell. Best home at the best price. The market will come back so if you don't have to sell, wait. If you do have to sell, or if you really just want to sell, call me for a FREE consultation with no obligation. I want to be your resource for real estate information. Ask me how I am selling homes at a rate that is 10 times the national average prouction for real estate agents.
leslie edwards sells real estate 770.460.9448 RE/MAX Around Atlanta
Serving South Metro Atlanta 30 years experience isn't expensive, it's priceless