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 home purchase. Let’s look at the below example, it is a for all the homes in Paulding County priced between $100,000 to $125,000.
Statistically homes that don’t sell 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 84.4% chance of not selling at all! These are the homes you want to focus your search on. These sellers are beginning to believe they are not going to sell. They are also getting realistic on their price expectations.
For Dallas Georgia Homes, here is the May 2011 Market Absorption for homes ranging from $100K-125K.
Current number of homes on the market _____154 _________
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 ______154 ________
Number of new inventory for this period ______51.33_______
Total Inventory ______205.33______
Number of Homes that will sell ______32.76 ______ ___15.6%____
Number of Homes that will not sell ______172.57_____ ___84.4%____
Average Sold Price during the last 12 months _$109,600_
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 $98,900 and $103,900. If you have the ability to price your home under $100,000, you should. Homes under $100,000 are the hottest selling portion of the market today!
For a FREE Weekly List of 3 Plus Bedroom Dallas Georgia Homes under $100,000 with prices, addresses, and descriptions click the link or fill out the form below.