Here are some notable facts from a recent report provided by our state association, Georgia Realtors®:
From July 2012 to July 2013 –
- Median price of homes are up 37.9%.
- Days on market (DOM) is down 21.1%.
- The number of pending sales is up 20.9%.
- The number of NEW listings is up 7.9%.
- The number of homes for sale is down 19.1%.
Other Notable Facts –
- May 2013 was the first month in more than a year that new listings increased (3%) over the same month one year ago. The number of new listings has now increased for three straight months, posting the largest year-over-year increase in July (7.9%).
- Properties are selling on average for 95.6% of listed price, a sign of high demand and low inventory.
- Median price was at its lowest in January 2012, a low of $87,000. It now stands at $160,000, an increase of 83.9%!
- The average Days on Market (DOM) is the lowest that I can remember in almost 30 years standing at 71 days. Homes are selling.
I find the numbers are directly reflective of our northern Georgia market (Macon and north) and always line up particularly well with many of our suburban markets. More than 75% of the sales for the state happen in the northern Georgia market.
Okay, enough said. It is time for everyone to take advantage of such drastic changes. If you’ve been waiting for the right time to sell your home… that’s right now!
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