It’s Time for Homeowners to List!

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kevin_levent_blogNo more waiting. It’s time to get your home on the market!

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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4 Responses to “It’s Time for Homeowners to List!”

  1. jglencurry Says:

    I like the NAR commercial (go to YouTube and search “National Association of Realtors”, it is the first video) where a couple is looking at a house online. She wants to make an offer on it and he suggests they wait to see if the price comes down. Then before their eyes, a Realtor walks into screen and puts a “Sold” sign on her sign, right before their eyes! The market has turned!!! For the better! Carpe’ Diem!

  2. Kristy Serkedakis Says:

    In this low inventory market, it’s not unusual for a seller to receive multiple offers on their home putting the seller in a position to accept only the very best offer. Keep in mind, the “best” offer isn’t always the highest price. Careful consideration should be given to other factors…qualification of the purchaser, earnest money amount, inspection contingencies…just to name just a few.

  3. salasocialmarketing Says:

    Great looking numbers!

  4. Pam Nixon Says:

    I sold my unlisted, personal home last weekend – Labor Day! An agent called about one of my listings and after answering some questions she had, I encouraged her to go ahead and show it, but I knew of a home that may better fit her clients’ needs 🙂 We had planned to put our home on the market in about 9 months, but we have a unique property and knew it would take a special buyer. The buyer came (from Kansas), loved it and offered us full price. We close in 6 weeks! They even want to buy one of the horses and will let our renter stay in the basement for 7 months! Shaking our heads and frantically looking for a short term rental house, while we build another one…….

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