Centerville GA Home Report - November 2017 Edition
As one of the smallest communities in middle GA, it is no surprise that minor changes to the real estate market in Centerville GA can create such a large shift in this market. For instance, there are only 3+ months worth of inventory available yet this past month saw the fifth most home sales in any month this year (7).
What can buyers, investors, and sellers expect from this market? Stay with me as we peel back the layers to determine the current state and where this market is likely headed in the near-term.
Thankfully, Real estate experts in Centerville GA are quickly showing all the available inventory to consumers who are excited about calling this city their home. All the more reason for sellers to keep their home show ready and market priced at all times!
So, what transpired in November in the Centerville real estate market? Let's check out all the details and see if this market is the right one for you!
Active Centerville GA Homes For Sale
As of this article, there are a total of 25 houses for sale in Centerville GA. The highest priced listing in this market is currently available at $475,000 and the lowest is $65,000. Square footage of available properties ranges from 1,132 feet up to 4,725. Also, there are homes available in numerous price points to meet the needs of all real estate consumers.
Buyers who are seeking a fixer-upper have 4 distressed properties available in the Centerville real estate market. Fortunately for sellers, there has not been an increase in foreclosure/short sale homes this past quarter. That is good news as these properties can have a negative future effect on both appraisals and sales prices.
The highest priced home for sale in Centerville is a home located at 110 Jadestone Court. Available for $475,000, this 4.7K+ square foot home has 5 bedrooms, 3 bathrooms, and a host of amenities worth checking out.
Sale Pending Centerville Single Family Homes
This is the smallest real estate market in Houston County so do not let the numbers fool you. This past month, pending sales (7) dropped 50% from the previous month. The lack of inventory is starting to have an effect and new inventory is needed or buyers will find homes more to their liking in other middle GA communities. Of the 5 pending homes in this city, 1 property is a distressed house.
Although conditions favor sellers (3+ months of available inventory), homeowners must ensure their house is ready for visits, updated as needed, and priced according to the current market conditions.
Properties that are not in good shape will definitely sit, leaving owners scratching their heads wondering why other houses are selling and theirs is not.
Centerville GA Homes Sold For November 2017
There was a total of 7 home sales in Centerville GA during the month of November 2017. This represents the fifth highest number of monthly sales in the past year (the annual average this past year is 7 closings). The average sale price for these homes was $138K+ and they took an average of 31 days to sell! The 12-month average for both of these categories is $149K+ and 77 days from listed to sold.
The average days on the market remained steady this past month. It is a reminder to sellers that to be competitive, and ensure buyers take an interest in their home, they must market price the property. The sales price to list price ratio in November was outstanding, coming in at 103.12%, which improved on the 12-month average of 98.27%.
The most expensive sale in Centerville real estate during November 2017 sold for $235,000. The lowest priced sale was $106,000. Great news that only 1 of the sales this past month was a distressed home.
When distressed sales are present, they can have a slight impact on appraisal values in the affected neighborhoods for the remainder of the year.
What Can Centerville Residents Expect In Future Months?
In this sellers market you can expect plenty of competition. This could mean a bidding war if you are not ready to write an offer as soon as you decide the home is the property you have been looking for.
Just remember, any delay could cost you the home as plenty of other consumers are hitting the pavement and out looking too! The amount of inventory is worth monitoring for the next few months to determine if this market remains robust or starts to wane as cooler weather arrives.
Time will tell if a host of fresh inventory hits the market and if buyers continue to find homes to their liking in the Centerville real estate market.
More Houston County Market Reports for November 2017
- Bonaire GA Real Estate Market Report from RealtyTimes
- Byron GA Real Estate Market Report on LinkedIn Pulse
- Kathleen GA Real Estate Market Report via Medium
- Perry GA Real Estate Market Report at Quora
- Warner Robins GA Real Estate Market Report on Biggerpockets
This Centerville GA real estate market report for November 2017 was provided by Anita Clark. Anita is a licensed residential real estate agent in Centerville GA at Coldwell Banker SSK, Realtors.
You can find Anita on numerous social media networks or via her Centerville Real Estate Blog. She is an active online 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.**