Just like any other product that is bought and sold, real estate is affected by supply and demand. By determining the absorption rate we can tell what you should realistically expect to pay for your Dallas Georgia Home. Let’s look at the below example, it is a for all the Dallas Georgia homes priced between $100,000 to $125,000.
Statistically homes that don’t sell in 90 days or less sell at or slightly below list price. Homes in the $100K-125K price range that are on the market longer than 90 days have a 45.6% chance of not selling! This is the lowest we’ve seen in a long time!
So how do you figure out what you should pay? Lets look at the Dallas Georgia market absorption rate.
For Dallas Georgia Homes, here is the November 2011 Market Absorption for homes ranging from $100K-125K.
Current number of homes on the market :89 :____
Number of homes that failed to sell in the past 12 months :480:____
Number of homes that Sold in past 12 months :242:____
Total number of homes sold per month :20.17:__
Total Months worth of Inventory :4.4_ :__
Current number of homes on the market :_89 :___
Number of new inventory for this period :_22.25:__
Total Inventory :_111.25:_
Number of Homes that will sell :_60.51 :_ ___54.4%____
Number of Homes that will not sell :_50.74: ___45.6%____
Average Sold Price during the last 12 months _$108,392_
There are only 89 homes to choose from in the $100K-125K price range. There are 20.17 homes are selling each month. At this rate it will only take 4.4 months to sell all the homes in this price range. This means the supply is low, the demand is high, and it will not be long before prices begin to rise. The average sold price during the last 12 months is $108,392. In this environment we are seeing homes that are priced close to this price get multiple offers and the price point getting pushed up. If you want to make sure you are able to purchase a Dallas Georgia home for a historically low price, you need to buy today! Over the next few months prices should not rise, be we suspect in the spring of 2012 we will see prices go up. DON’T WAIT! If you can get a home in this price range under contract for $105,000 to $110,000 you’re getting a great deal.
For a FREE List of 3 Plus Bedroom Dallas Georgia Homes under $150,000 with prices, addresses, and descriptions click the link, fill out the form below or call 877 566 0511 Ext. 4010