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Each month AR runs numerous contests as a way for our members to engage in activities
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Your Homepage will alert you of new questions in your state
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These state pages or hyper-local pages provide content directly related to a specific geographical location.
State, County, City and Neighborhood pages make it easy for consumers to find what they're looking for.
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Market Report: Lake Country MLS trends for 2011 - covering Madison, Lake Oconee, Lake Sinclair
How's the market?
This is the number one question people ask when they find out I sell real estate.
With a word of caution from my late Dad, who was fond of saying "figures lie and liars figure" - let us bravely wade into the world of statistics courtesy of the Lake Country MLS.
Residential sales are
2011 sold through Sept - 350 homes
2010 sold through Sept - 314 homes
2009 sold through Sept - 315 homes
still not close to the 2007 rate of 580 homes sold in the same period, but moving in the right direction.
With 935 homes on the market - there are still plenty to choose from. But in the lower price points, inventory is getting scarce.
The average sale price year to date is $281,000 - trending flat with 2009 and 2010 - and well below the market top of 2005-7 when average prices were in the $390,000 range. The drop in average prices comes from a combination of comparable homes dropping in value, and fewer high end sales in the mix.
The average price of homes currently on the market is $512,000 - a result of sluggish demand at the higher end.
How much discount should I expect from asking price?
is another question buyers often ask. The only answer that is useful to a buyer is one that comes from assessing the value of a particular home - some of the best deals I've put together were at or above asking price. But the market stats do show an important change - during market peak, homes were selling at an average of 95% of asking price - now that number is closer to 90% for the overall market.
The average days on market has stayed pretty constant in the 180-190 days range, BUT the expired listings have soared to more than 50%. This means that sellers are letting one listing expire after the original listing period (usually 180 days) and then re-listing it to make it appear as a fresh property. At market peak, the expireds were only about 20% of the market - so I think that the average days on market has actually increased substantally.
If you have questions about what's happening in your local market - just ask a local expert. We're happy to help.
Are you thinking dreaming about a place that will nuture your soul, bring your family together, or give you a chance to give back? Whatever your dream, I'm committed to helping you explore how Georgia's Lake Country fits in. Located midway between Atlanta and Augusta, the lake country offers two recreational lakes, plus wonderful historic small towns with a commitment to sustainable agriculture. Lets talk.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.