Just like any other product that is bought and sold, real estate is affected by supply and demand. Supply is Extremely High for Dallas Georgia Homes. This means demand is low and prices are down. If you are thinking of selling your Dallas Georgia Home in today’s market, you MUST price your home properly when you first put it on the market. If you price your home right, it will sell quickly and with little hassle. If you don’t price your Dallas Georgia Home right, it will sit on the market for a long time while you pay additional mortgage payments and maintenance cost waiting for it to sell. In addition your home will be have fewer showings as you chase the market down because folks will see how long your home has been on the market and think it has not sold because it has problems.
How can you know what price is right for your home? By determining the absorption rate.
Let’s look at the below example, it is a for all the homes in Paulding County priced between $125,000 to $150,000. Statistically Dallas Georgia homes in this price range that don’t sell in 90 days or less have a 75.6% chance of not selling at all! You DO NOT want your home to be one of these, so let’s see where you’ll need to price it.
For Dallas Georgia Homes, here is the July 2011 Market Absorption for homes ranging from $125K-150K.
Current number of homes on the market _____141 _________
Number of homes that failed to sell in the past 12 months _____495_________
Number of homes that Sold in past 12 months _____171_________
Total number of homes sold per month _____14.25_______
Total Months worth of Inventory _____9.9_ _______
Current number of homes on the market ______141 ________
Number of new inventory for this period ______35.25_______
Total Inventory ______176.25______
Number of Homes that will sell ______42.75 ______ ___24.4%____
Number of Homes that will not sell ______133.5______ ___75.6%____
Average Sold Price during the last 12 months _$131,093_
If you want to make sure your home is one of the homes that sells as quickly as possible and with as little hassle as possible, we believe your list price should be between $117,900 and $124,500. The closer you get to $117,900 the quicker your sell will happen.
For a FREE Weekly List of 3 Plus Bedroom Dallas Georgia Homes under $100,000 with prices, addresses, and descriptions click the link, fill out the form below or call 877 566 0511 Ext. 4010