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 sell your Dallas Georgia home. Let’s look at the below example, it is a sample of homes priced between $125,000 to $150,000.
Statistically homes that don’t sell 90 days or less sell at or slightly below list price. Homes in the $125K-150K price range that are on the market longer than 90 days have a 73.9% chance of not selling at all! If you are going to sell quickly without chasing the market down, you are going to have to get realistic on your price expectations. i’ll show you what I am talking about.
For Dallas Georgia Homes, here is the April 2011 Market Absorption for homes ranging from $125K-150K.
Current number of homes on the market _____154 _________
Number of homes that failed to sell in the past 12 months _____448_________
Number of homes that Sold in past 12 months _____201_________
Total number of homes sold per month _____16.75_______
Total Months worth of Inventory _____8.4_ _______
Current number of homes on the market ______154 ________
Number of new inventory for this period ______38.5_______
Total Inventory ______192.5______
Number of Homes that will sell ______50.25 ______ ___26.1%____
Number of Homes that will not sell ______142.25_____ ___73.9%____
Average Sold Price during the last 12 months _$133,431_
If you want to sell your home quickly with as little hassle as possible, we believe your list price should begin at a minimum of 10% below the market. In this example that would be roughly $120,000.
Sure it looks like you are going to take a hit when you sell, but home prices are at historical lows. Real Estate is having the biggest clearance sale on the planet. You’ll make up any loss you take in selling, when you buy your new home.
For a FREE List of 3 Plus Bedroom Dallas Georgia Homes under $100,000 click the link or fill out the form below.