Home Sales in Spalding County

By
Real Estate Agent with Bush Real Estate

To view the full Spalding County Mkt Watch, go to >> http://Spalding.BushRealEstateGroup.com
 
YTD 2010, Spalding County home sales are running close to a dead heat with the same 6 months last year. Like all surrounding counties, a huge portion of unit sales are a result of investor purchases of the under $100K price segment which has skyrocketed in 3 yrs by almost doubling with an 81% increase. Record breaking foreclosures have added so much inventory to this price point that it has become a dominate (over 2/3rd of the total) part of the price range spectrum.
 
Additionally, note the free fall of avg prices from $121K in '06 to $82K this year, a 32% decline. Again, that is a product of the unusual number of "under $100K" homes as a percent of total sales continuing to increase.
 
'06 1st half year unit sales v. '10 1st half year unit sales - 507 v. 279 - down 45.0% or 228 homes
'09 1st half year sales v. '10 1st half year sales - 285 v. 279 - down 2.1% or 6 homes
'06 avg home prices v. YTD '10 avg home prices - $121K v. $82K - down 31.6% or $39K
Jun 1 months supply v. Jul 1 months supply - 13.1 v. 13.7 - up 4.6% or 6/10th month - Relative position* - Avg
Jun 1 inventory v. Jul 1 inventory - 575 v. 594 - up 3.3% or 19 homes
YTD '10 Avg Sales Price v. Jul 1 Avg Inventory Price - $82K v. $147K - Balance grade - C (1 : 1.8 ratio)
Past 12 months Avg DOM v. '09 Avg DOM - 88 v. 94 - down 6.4% or 6 days
Units sold in Jun as a % of Jun 1 inventory - 9.7% (56 / 575) - avg
Sold to Expired ratio for past 12 months - 1 : 1.1 (521 / 575) - worse than avg
SFR Sell Price % to List Price for past 12 months - 92.8% ($87K v. $94K) - below avg
Increase in the "Under $100K" price range since '06 - 39.3% in '06 / 71.3% YTD '10 / an 81.4% increase
 
* Relative position = relative to the 9 southern crescent counties.
 

Posted by
Ana Williams Meridian Realty Fayetteville,Georgia

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