Posts from May 2021
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7
Listing Inventory, Still An Issue
Realtors and home buyers alike are waiting for a significant improvement in the supply of real estate listings. As of April 27th, 2021 there were only 220 single family detached homes for sale in Coweta County per the Georgia Multiple Listing Systems (GAMLS). At one point, earlier this year, this number dipped below 200 listings. While 220 is an improvement, that number is still historically low.
We are seeing the same issue across the state of Georgia. In fact, the number of new listings in the first quarter (Q1) of 2021 decreased 10% from Q1 of 2020 according to the Georgia Association of Realtors (GAR). The average days on market for a listing dropped 34% year over year. The number of pending sales, closed sales and the average sales price all increased dramatically year over year. The average sales price in the state of Georgia is $323,831. We are in a very strong seller's market.
If you have friends in the real estate business or if you are ever on so...