Ready or not, 2010 is here. For the most part, 2009 was a year that will go down in the record books as a year of adjustments in the real estate industry.
Record numbers of foreclosures clogged the courthouses in the metro Atlanta area. Sellers had to adjust their sales tactics to compete with all of the bank and corporate owned homes. Purchasers had to jump through hoops to get loans. Appraisers had to relearn how to place values on homes.
So what good came out of all of this mess?
If you were lucky enough to be at the right place at the right time and could get a loan (or pay cash), the sky was the limit on what you could buy. And what could possibly be better than that? A tax incentive of course, compliments of our federal and state governments. Stay tuned for 2010, it’s sizing up to be an interesting year as well.
Last month the 400 North Board of Realtors reported 21 homes sold in the month of October. November sales increased slightly to 26 homes sold in Dawson County.
Out of the 26 homes sold in November, there were nine bank or corporate owned homes sold, 10 new homes sold, and seven resale homes sold.
The number of new homes sold is significantly up from October and reflects an aggressiveness to sell the bank owned inventories that were taken back from the builders.
Home inventory levels continue to be high, although they are down somewhat from the previous month.
We are averaging just over 350 single-family homes for sale in the county, which equates to about 13.5 months of inventory at the current sales pace.
Previously, we were at about 19.6 months of inventory available.
So let’s get down to the November numbers:
• There were a total of 26 home sales in November.
• The average home sold for $189,783.
• The average number of days the home was on the market was 216.
• At the current rate of sales, there are 13.5 months of inventory available.
Note: These figures were provided by First Multiple Listing Service and reflect all home sales that changed hands through the assistance of a Realtor.
Scott Whelchel is the public relations director for 400 North Board of Realtors.