October 2014 Market Report

Valdosta Home Prices

We have seen 6+ months of stabilizing home prices in Valdosta and expect things to continue to pick up.  If no new listings came on the market it is estimated that it would take 11.93 months to deplete the existing number of listings currently offered for sale. Inventory has increased slightly from last month giving us a slight increase in the absorption rate. If you are considering buying a home you can still find deals on a house in Valdosta but having a good real estate agent who understands the market is a must.  Don’t wait on the sidelines for too long, many of our listings are starting to sell within a few days of hitting the market. As you can see from the graph below, listings are not selling exactly for asking price. To make sure you don't overpay for your home, you'll want to have an agent that does a thorough market analysis of the Valdosta home on which you are making an offer.

If you are interested in how much current inventory is on the market in Valdosta you can obtain that information by clicking on the link and contacting me. High inventory will suggest that homes are sitting on the market for longer. Currently in this area of Valdosta, homes have a average time of 131 days on the market before they sell. This would suggest that buyers are in a great position to make an aggressive offer on a home. Sellers should make sure to price their home near the market value if they expect to get an offer from one of those interested buyers. Lower inventory areas in Valdosta occasionally have multiple offers coming in on homes similar to what we saw back in 2007. I wouldn't expect home prices to run up quite as fast as they did back then as banks have gotten a lot stricter on lending guidelines and are no longer giving a loan to anyone with a pulse. But, as inventory decreases over time this is one indicator that prices should continue to rise. 

Valdosta Real Estate Report Summary

The median sales price in August for single family homes in Valdosta is $135,000 which is slightly higher than last months numbers

Find Homes for Sale in Valdosta, GA

Visit my website to search for homes in Valdosta or to be notified when Valdosta homes come on the market.

To find out what you home is worth in the current market email me or call 229.834.0946.