Byron GA Single Family Home Report - December 2017 Edition
As expected, the real estate market in Byron GA has finally started its slow winter hibernation as a combination of low inventory and cold weather drove many buyers and investors indoors this past month. With less than 2 months of available properties to choose from, new inventory is needed if this market expects to rebound this next quarter and see robust spring sales.
This is a great time for homeowners to take advantage and jump into this market. With so few homes to pick from, nearly every available property is getting long looks from consumers.
Real estate agents in Byron GA continue to show both buyers and investors all the available homes, and those properties that meet their needs are typically getting under contract quickly. If you are not sure about entering the Byron GA real estate market, this market review may help change your mind!
So, what happened in December in the Byron real estate market? This report outlines the current status and details the short-term outlook for this city too. Stay tuned for all the market analysis and details.
Active Byron GA Homes For Sale
As of this writing, there are a total of 38 houses for sale in Byron GA. The highest priced listing in this market is currently available at $260,000 and the lowest is only $27,900. Square footage of available properties ranges from 1,329 feet up to 5,504. Also, there are homes available in numerous price points to meet the needs of all real estate buyers.
Buyers and investors who are looking for a fixer-upper have 2 distressed properties they can choose from this month. Unfortunately for sellers, there has been a slight increase in foreclosure and/or short sale homes in the past quarter which can affect appraisals and future sales prices.
The highest priced home for sale in Byron is a home located at 109 Orchard Park Drive. Available for $260,000, this 2.6K+ square foot home has 3 bedrooms, 2 bathrooms, and a host of amenities worth checking out.
Sale Pending Byron Single Family Homes
Currently, there are only 14 Byron homes that are pending sale. This represents a decrease of 4 properties from the previous month. Of these 14 houses, 3 homes are distressed. There is no doubt, this market has slowed down. With an influx of new inventory, it could rebound quickly though. Time will tell how this market tilts in the coming months.
With conditions squarely in their favor, smart sellers are ensuring their home is ready for buyer views, updated as needed, and priced according to the current market conditions. While they have the upper hand in this sellers market (1+ months of inventory), properties that are not in good shape will sit on this market.
Byron GA Single Family Homes Sold For December 2017
There was a total of 24 home sales in Byron GA during the month of December 2017. This represents the sixth highest number of monthly sales in the past year (the annual average this past year is 23 sales). The average sale price for these homes that closed last month was $172K+ and they took an average of 53 days to sell! The 12-month average for both of these categories is $154K+ and 56 days. Clearly, consumers found properties in the lower price points to their liking this past month.
The average days on the market was unremarkable this past month and is a reminder to sellers to ensure they continue to market price their home if they want buyers to take interest. The sales price to list price ratio in December was 97.75%, slightly off the 12-month average of 98.27%. When their homes are market priced, sellers are reaping the rewards.
The most expensive sale in Byron real estate during December 2017 sold for $369,900. The lowest priced sale was $28,250. In addition, 4 of the sales this past month were distressed homes, which may have a slight impact on appraisal values in the affected neighborhood for the remainder of the year.
What Can Byron GA Residents Expect Regarding Real Estate In The Coming Months?
You can expect plenty of competition when you are ready to make an offer on a Byron GA home. This could mean a bidding war if you are not ready to write an offer as soon as you decide the property is the home you want. Just remember, any delay could cost you the home as plenty of other buyers are also out looking!
The amount of inventory and low pending sales will be worth monitoring for the next few months to determine if this is a trend or just an anomaly. Time will tell if a host of fresh inventory hits the market and if buyers continue to find homes to their liking in the Byron real estate market.
More Houston County Real Estate Market Reports For December 2017
This Byron GA real estate market report for December 2017 was provided by Anita Clark. Anita is a licensed residential real estate agent in Byron GA with Coldwell Banker SSK, Realtors.
You can find Anita on numerous social media networks or via her Byron Real Estate Blog. She is an active online real estate marketer who loves helping residential real estate consumers in Houston County GA.
**The information provided in this real estate market analysis was generated via the Central Georgia Multiple Listing Service (CGMLS) at the time/date this market report was published. All information is deemed accurate, but not guaranteed.**