Third Quarter 2008 South Fulton County Real Estate Update
In South Fulton County between July 1 and September 30, 2008, 631 homes sold while, during the same period, 626 homes expired unsold. According to those numbers the chances of selling a home in South Fulton County are about 50-50.
There are currently 2106 single family homes for sale in the Multiple Listing System with an average list price of $194,238 and an average 145 days on the market.
The average sales price of the 631 homes that sold was $143,712 while the average sales price of the 626 homes that did not sell was $193,795.
Of the 631 homes that sold, 293 were foreclosed, bank owned properties. The average sales price of the foreclosures was $116,255.
It is hard for a homeowner to compete with the foreclosures which are typically priced well below the market and less than a homeowner could afford to sell for.
For homebuyers and savvy investors there are some terrific opportunities to buy homes at bargain prices. Home prices and interest rates are historically low. The inventory is huge and sellers are anxious.
The market moves up and down in cycles and when the markets recover, many people moan about missed opportunities when they could have bought real estate for incredibly low prices. Don't let that be you.
Call or email me to discuss real estate. I offer FREE, no obligation, consultation for buyers and sellers.
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leslie edwards sells real estate 770.460.9448 RE/MAX Around Atlanta