I am asked all the time, "How is real estate doing? Are things looking better for house sales in Oconee?"
Here are the sold and listed figures that show the Oconee County Residential Sold vs. Residential Listed April 2012:
Sold: 24, Listed: 606.*
We have about a hundred less houses on the market in Oconee this year and a few more selling each month than last year this time, which brings our percentage of sold to listed up to 3.96%. Compare that to April 2011 of 3.42% and April 2010 of 3.61%, and sales are improving.
In April 2012 Oconee had an absorption rate of 25 months. That means it would take us 25 months, at the rate we sold in April and if no new listings were added, to sell all the houses we have on the market now in Oconee County. Last year this time, it was 29 months.
FYI: A buyer's market is over 7 months of inventory and a seller's market is less than 5 months of inventory.
So, we are definitely still in a buyer's market.
I have a cute graph to show all of this, but don't know yet how to insert it into this blog, so email me if you would like it.
The moral to this story is: if you are thinking of buying up, now is the time to sell your house and buy the house of your dreams at a lower price. As your house price goes up, so will the other houses!!! And if you are renting, now is a GREAT time to buy. Interest rates are at a historical low and so are home prices.
*data from Residential Sold Report and Historical Active Report
If you are thinking of buying or selling a home in Oconee County, please contact me for a free consultation of your goals. Laura Leiden 706-540-4181. email: firstname.lastname@example.org.