The housing market in Lowndes County in the second
quarter of 2015 is really starting to look much healthier. One of the main
tools used to gauge the health of our local market is calculating months of
inventory. Over the past 12 months, there were a total of 941 residential
houses sold in Lowndes County. That equates to an average of 78.42 houses per
month. When you divide 758 (the amount of homes currently listed for sale) by
the average of 78.42, you get an inventory of 9.67 months.
That means if no more homes were listed
for sale, it would take approximately 9.67 months to sell through all the homes
on the market. In most cases, six months of supply is considered balanced and
healthy. A market with over six months of supply is suggested to be in a
buyer’s market, and a market with under six months supply tends to favor
sellers.
Just two months ago, the inventory (using annual
averages) was 12.73 months! Over the past two months, the average houses sold
per month spiked to 100.5. At that rate, our inventory supply is only 7.54
months! So needless to say, April and May were very busy months for Lowndes County.
Another promising sign for our area is the average
days on market for a home to sell is down significantly to 107 days, and the
sales prices as a percentage of the list price is also up slightly.
All of these tools to gauge the health of our local
market suggest that the first two months of the second quarter of 2015 have
really been doing well. If we maintain this pace, you can expect home values to
rise as a result.
The numbers in this article are averages for all of Lowndes
County. Obviously, areas within Lowndes can have drastically different numbers
when calculated separately.
If you would like more information about the area your home is in
specifically or if you would like a free analysis of how your home stacks up,
call or message me anytime! I’d love the opportunity to work hard getting you
the absolute best deal possible!
Thank you!
Jason Dove
Realtor
Real Living Realty Advisors
229.563.0377
