Statistically Dallas Georgia Homes that don’t sell 90 days or less won’t sell at all. In fact homes in the $150K-175K price range Dallas Georgia Homes that are on the market longer than 90 days have a 65.2% chance of not selling at all!
If you are looking to buy and get a great deal on your purchase of a Dallas Georgia Home, you should start searching for homes on the market over 90 days. Another insider secret is to look at homes that have “expired.” These are the homes that were on the market and for one reason or another, they did not sell. The most common reason they don’t sell is because they are priced to high. These sellers are frustrated with the selling process because their home did not sell. They believe they are not going to sell and then low and behold you swoop in and get them excited about selling again.
By determining the absorption rate we can tell what you should offer on a home in this situation. Let’s look at the below example, it is a for all the homes in Dallas Georgia Homes priced between $150,000 to $175,000.
For Dallas Georgia Homes, here is the May 2011 Market Absorption for homes ranging from $150K-175K.
Current number of homes on the market :75 :____
Number of homes that failed to sell in the past 12 months :372:____
Number of homes that Sold in past 12 months :131:____
Total number of homes sold per month :10.92:__
Total Months worth of Inventory :7_ :__
Current number of homes on the market :_75 :___
Number of new inventory for this period :_18.75:__
Total Inventory :_93.75:_
Number of Homes that will sell :_32.76 :_ ___34.8%____
Number of Homes that will not sell :_61: ___65.2%____
Average Sold Price during the last 12 months _$157,000_
Based on the above information we believe you should offer 5%-10% below their asking price for your Dallas Georgia Home. For example if you are looking at the higher end of the $150,000 to $175,000 price range you will find several Dallas Georgia homes listed for $174,900. We recommend making an offer between $157,500 and $166,000.
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