With so much talk about bubbles "Bursting" Everywhere, it should be pointed out that they are not
"Everywhere"! Real estate is still local and ALWAYS will be!
While the market as a whole has slowed down, this is due to "Averages" which can be pulled way up, and way down by extremities!
Some areas have become "Disasterous", however, MANY areas are doing just fine, and some are even doing GREAT!
I am not going to tell you Acworth Georgia is doing GREAT, but it is doing just fine!
Here are the August stats(AVERAGES) from 2006 vs. August of 2007-taken from FMLS.
August 2006, per FMLS
- 21 Total sales
- LIST Price $164,600
- SALE Price $162,700
- Days on Market 50
August 2007, per FMLS
- 24 Total sales
- LIST Price $196,100
- SALE Price $190,300
- Days on Market 60
ARE YOU THINKING WOW?!? That is a HUGE increase! Whoa Nellie!......OK lets use the averages, but lets get rid of a few EXTREMES-the HIGH ones!
Last year there were really no extremes to be removed, but this year, there were 4 sales OVER 300K-LETS GET RID OF THEM! Now it looks like this....
August 2007, Per FMLS(minus 4 extreme highs)
- 20 Total Sales
- LIST Price $164,200
- SALE Price $161,300
- Days on Market 55
Days On Market has increased a little(5 days), but values have remained relatively stable. NO MATTER what anyone tells you, REAL ESTATE is LOCAL!!
Information taken from the FMLS and does not include FSBO's and any other sale that was NOT posted in the FMLS. There are several New Construction subdivisions in this area, however, they too are NOT in FMLS.
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