The market in Columbus Ga MLS is typical of markets all across the country. Sales are down. That said, our economy is more stable than most and for this 
reason we have not seen the dramatic drop in home prices.
Homes priced right and well maintained are still selling quickly. Homes with any problems or that are overpriced are being overlooked.
Here is a snapshot of 2008 vs. 2009 :
- Home prices are down about 4%
- Total Homes sold are down 21%
- Home sales in the $100K to $200K level are only down 17.5%
- Home sales in the $200K to $300K price level are down 35%
- Home sales in the $300K to $450K price level are down 22%
- Home sales in the $450K and up price level are down 27%
New home sales and foreclosures account for a large portion of the sales in the Columbus GA/Phenix City home market this year. The normal resale homes are the ones really staying on the market.
So, it is very important for resale clients to price their homes aggressively and to have their homes in pristine condition when they go on the market!
Wayne will be hosting a session titled “Prospecting, Proposals, Pipeline: AgentEvaluator” at HomeGain Live Nation in San Francisco on August 3rd at 2pm. Twitter it #homegainnation.
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Great information Wayne. “Aggressive pricing” seems to be crucial in this market. Glad to see that your home prices are only down 4% from 2008 to 2009. That won’t make a lot of people give the keys back to the bank. The price decline is much worse here in Sarasota, Florida. Enjoy the conference
August 4th, 2009 at 2:09 am
Interesting perspective.
August 26th, 2009 at 9:26 am
Thanks for the info
August 26th, 2009 at 7:20 pm
Over the last four decades, Detroit has gone from boasting the highest rate of home ownership in the nation to the highest rate of home foreclosures in the US. Nearly 5 percent of the households in metro Detroit were in some stage of foreclosure last year, a rate nearly five times the national average and a 68 percent jump.
July 31st, 2011 at 1:10 am