So how is the market in Lowndes County? All the tools used to
gauge our market over the past three months suggest that it is doing great!
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 1015 houses sold in Lowndes County. That equates to an average
of 84.58 houses per month. When you divide 735 (the amount of homes currently
listed for sale) by the average of 84.58, you get an inventory of 8.7 months.
That means if no more homes were listed for sale, it would take
approximately 8.7 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.
Over the past three months, the average houses sold per month
spiked to 108.3. At that rate, our inventory supply is only 6.8 months, and that
is only slightly off of what is considered “balanced and healthy”! So needless
to say, June-August were very busy months for Lowndes County.
Another tool used to check the pulse of the market is average days
on market for a home to sell. While June-August had an average days on market
of only 99 days, the past 12 months shows an average of 110, and 110 is pretty
typical for our area.
These tools used to gauge the health of our local market suggest
that the past three months have been on fire, and the yearly averages are
looking better and better! If this trend continues, we can expect home values to keep rising and ultimately a healthier dynamic for our market!
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
www.JasonDoveRealty.com