Saturday, November 24, 2012

Real Estate in Numbers: Butts, Clayton, Coweta, Fayette, & Henry Counties

Real Estate in Numbers:
Butts, Clayton, Coweta, Fayette & Henry Counties
We're noticing a change in the local real estate pattern ... for the past few years it seemed that we were on a steady decline in home values; however, 2012 has been a much different market and in some ways, even more challenging than the previous years because of low inventory. If you're in the market for a new home, you may have noticed that every home seems to have multiple offers and goes to a "highest and best" situation in which buyers bid over the asking price for the property. These competitive situations are pushing the average sales prices up little by little. I guess it all goes back to basic economics - supply and demand. In our current market place, there doesn't seem to be enough inventory for the amount of buyers that are out there. Not such good news for buyers, great news for sellers! If we can hold this new pattern, we may just see an improving real estate market. It's hard to predict what the future will hold and there's still talk of banks releasing their "shadow inventory." While none of us hold the crystal ball to the real estate future, we can study trends and patterns to and make our best prediction as to where the market is heading... here's the scoop:

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