How's the real estate market in Madison Georgia?

By
Real Estate Agent with Coldwell Banker Lake Country 284620

How's the real estate market in Madison Georgia?

Not a day goes by when I'm not asked that question - at the grocery store, in a local restaurant, or on the phone with a buyer or seller.  Most of us are invested in real estate, or know someone who is planning to buy or sell in the near future.

The quick answer is: Improving, especially at the lower price points.

Single family home sales increased 22% in 2013, driven mainly by the increase in the median home price from $137, 325 to $158,750, plus a 5.6% increase in the number of homes sold.

Inventory of affordable homes continues to run short, and the average days on market for homes priced below $200,000 dropped from 73, compared to 114 a year ago.

Home sales increased 33% for homes priced from $200,000 to $350,000, but average days on market remained steady at 113.

Above $350,000, the market continues to be sluggish, with just 16 homes sold in 2013 and 78 listed - its definitely a buyers market.

Expansion of local business, like the Mannington Mills expansion that will add 200 jobs, and the $1 Billion dollar Baxter International facility under construction that will add 1500 jobs, promises that the market will continue to recover and potentially grow significantly in the next 3-5 years.

The Madison, Georgia area has a small and diverse real estate market - with a mix of historic homes, lakefront homes, farms, and a few subdivisions.  Buyers and sellers would be wise to consult a local market expert like me to understand how current market trends apply for their search.

If you'd like to learn more about market trends in the Madison Georgia area - please contact me today.

 

 

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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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