Perry GA Single Family Home Report
October 2018 Edition
Another lackluster month of sales in the Perry GA real estate market...attributed to buyers and investors finding properties in other areas more to their liking due to the lack of new inventory in this market. For the fourth straight month, sales decreased as real estate consumers were generally unimpressed with what they saw in this middle GA city.
No doubt about it, homeowners who have been on the fence about joining this market really need to consider getting their property listed. There are 3+ months of homes for buyers and investors to choose from at the moment. Are you ready to sell?
As a top real estate agent in Perry GA I am showing homes to clients as soon as those properties hit the market. The quicker buyers and investors see homes, the better. For those that find what they like, and act fast, they are typically in the running to purchase the property. Just remember that others are also out looking and a delay could cost you an opportunity to get the home.
So, what is happening in the Perry real estate market? This review outlines the current status and what the short-term outlook for this market looks like. Stay tuned for all the important details!
Active Perry GA Homes For Sale
As of this article, there are 105 homes for sale in Perry GA. The highest priced listing in this market is currently available at $850K and the lowest is only $59K+. Square footage of available properties ranges from 952 feet up to 10,128. Also, there are homes available in nearly every price point to meet the needs of real estate buyers and investors.
Buyers who are looking for a fixer-upper may need to wait a bit longer as there is currently just 1 distressed house on the Perry real estate market. Fortunately for sellers, there has not been an increase increase in foreclosure/short sale homes in the past quarter which can affect appraisals and future sales prices.
The highest priced home for sale in Perry is a home located at 2320 N Highway 341. Available for $850,000 this 10K+ square foot home has 5 bedrooms, 4 bathrooms, and a host of amenities worth checking out. It is also situated on 33 acres.
Sale Pending Perry Single Family Homes
Currently, there are only 25 Perry single family homes that are pending sale. This represents a 6 home increase over the previous month. Of these 25 properties, 0 are distressed.
With conditions clearly favoring sellers, they must ensure their home is ready for visits, updated as needed, and priced according to the current market conditions. While they have the upper hand in this sellers market (3+ months of inventory), properties that are not in good shape will sit on this market.
Perry GA Single Family Homes Sold
There was a total of 24 home sales in Perry GA last month. This represents the third lowest number of monthly sales in the past year (the annual average this past year is 30 closings). The average sale price for the sold homes this past month was $190K+ and they took an average of 55 days to sell! The 12-month average for both of these categories is $176K+ and 69 days. Clearly, consumers found homes in the mid-tier price points more to their liking this past month.
The average days on the market was very good and it was very good to see some of the older inventory finally change hands. Sellers must ensure they market price their home if they want buyers to take interest. The sales price to list price ratio last month was 99.36%, which improved on the 12-month average of 98.44%.
As a comparison, during this same time-frame last year, there was 25 closings, an average sales price of $180K+, and it took those homes 56 days to sell on average. The sales price to list price ratio was 97.74%.
The most expensive sale in Perry real estate last month sold for $428K. The lowest priced sale was $45K. In addition, only 1 of the sales this past month was a distressed home.
What Can Perry GA Residents Expect Regarding Real Estate In The Coming Months?
You can expect lots competition when you get ready to make an offer on a Perry GA home. This could mean a bidding war if you are not ready to write an offer as soon as you decide the property is the home you want. Just remember, any delay could cost you the home as plenty of other buyers are also out looking!
The amount of inventory and low pending sales will be worth monitoring for the next few months to determine if this trend is the new norm or just an anomaly. Time will tell if a host of fresh inventory hits the market and if buyers continue to find homes to their liking in the Perry real estate market.
More Houston County Real Estate Market Reports
Check out the latest details and find the right market for your needs. Happy middle GA house hunting!
A Perry Real Estate Agent You Can Trust
This Perry GA real estate market report was provided by Anita Clark. Anita is a licensed residential real estate agent in Perry GA. She works for Coldwell Banker SSK, Realtors.
You can find Anita on numerous social media networks or via her Perry GA Real Estate Blog. She is an active online real estate 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.**
Comments(8)