Madison Georgia homes for sale: Market Report October 2013

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Real Estate Agent with Coldwell Banker Lake Country 284620

Madison Georgia homes for sale: Market Report October 2013

 

The Madison Georgia market continues to improve, with 120 homes sold in Morgan Country through September, and the median home price rising to $160,000 - up from $140,000 in September 2012.

The most expensive homes sold in the Madison, Georgia area this year include a lovely 4700sf 4 bedroom, 3.5 bath lakefront in the Woods of Lake Oconee, sold in June for $870,000, and an upscale 5500sf 4 bedroom, 4.5 bath farmhouse on 20 acres, sold in August for $730,000.

The mid-range included one of my listings - a 1950sf 4bedroom, 3bath ranch on a 1+ ac lot on a shared pond - plus a 2200sf 4bedroom, 2bath ranch in Madison, and a 2100sf 3 bedroom, 2.5 bath 1930's brick cottage on 2.5 acres in Rutledge.

There have been 2 homes sold in the Madison, Georgia area below $20,000 this year - a 3 bedroom, 2 bath mobile home in rough shape in the Rutledge sold for $16,799, and a 1000sf 3 bedroom, 1 bath ranch in Bostwick sold for $19,500 - both were bank-owned.

The improving market has created a scarcity of inventory below the median sold price of $160,000.  There are just 20 homes currently on the market below the median price - a 3 month supply.

Inventory in the higher price points continues to be plentiful - roughly 50% of available homes are priced near or above $300,000.

So what does that mean? 

If you're a buyer on a limited budget, you'll need to have your lender pre-qualification letter ready and be prepared to act quickly with a strong offer when you find the right home - you'll be competing with other buyers for the best properties.

If you're a seller with a premium home, be prepared to take a realistic look at how your properties compares to the ones you'll be competing with for the next available buyer. Have your home in great shape, and priced to sell.

If you're thinking of buying or selling a home in and around Madison, Georgia, why not give me a call today.  You deserve a market expert!

 

 

 

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facebook horse-and-home-georgia  Jeanne Dufort on Zillow

 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.

Jeanne Dufort

2010 Realtor of  the Year

Lake Country Board of Realtors

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