Below are market statistics for home sales in Locust Grove GA comparing August 2011 to August 2010 and July 2011:
August 2011 July 2011 August 2010
Homes Sold 37 28 30
Average Sale Price $133,595 $96,021 $108,995
Average Days on Market 75 86 99
The average sales price for August 2011 seems to be an aberration. Other markets in Henry County during the same time periods have shown a decline in average sales price from August 2010 to August 2011. July 2011 had $220,000 for the highest sales price that month. That accounts for its low average sales price. August 2011 had 6 homes sold in the $200's which seems to be the reason the average sales price is higher (July 2011 and August 2010 only had one home sold in the $200's). In my opinion, the high average sales price in August 2011 is not a sign that prices are on the rise. It will be interesting to see what September 2011 average sales price does.
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