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!
Find more Regional Updates here.
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