Posted 11 months ago

Centerville GA Real Estate Market Report - October 2017 Edition

Centerville GA Single Family Home Report - October 2017 Edition

The real estate market in Centerville GA continues to have a yo-yo effect. For instance, there are under 2 months worth of inventory available yet the most home sales this year occurred this past month (14). What can you expect from this market? Stay turned as this market analysis will shed plenty of light on what is happening and where this market is likely headed in the near-term.

Thankfully, Real estate professionals in Centerville GA continue to show the available inventory to buyers and investors who are interested in calling this city their home. All the more reason for sellers to keep their home show ready at all times!

So, what happened in October in the Centerville real estate market? Let's check out all the details and see if this market is the right one for you!

Normal 1511627445 Centerville Ga Real Estate Market Report   October 2017 Edition

Active Centerville GA Homes For Sale

As of this article, there are a total of 22 houses for sale in Centerville GA. The highest priced listing in this market is currently available at $475,000 and the lowest is $76,000. Square footage of available properties ranges from 1,435 feet up to 4,725. Also, there are homes available in numerous price points to meet the needs of all real estate consumers.

Buyers who are seeking a fixer-upper will have to be patient as there is currently only 1 distressed property available in the Centerville real estate market. Fortunately for sellers, there has not been an increase in foreclosure/short sale homes this past quarter. That is good news as they can have a negative effect on both appraisals and sales prices.

The highest priced home for sale in Centerville is a home located at 100 Jadestone Court. Available for $475,000, this 4.7K+ square foot home has 5 bedrooms, 3 bathrooms, and a host of amenities worth checking out.

Sale Pending Centerville Single Family Homes

This is the smallest real estate market in Houston County so do not let the numbers fool you. This past month, pending sales (8) went down 33% from the previous month. The lack of inventory is starting to have an effect on this market and new properties are needed to continue to pique buyer interest. Of the 8 pending homes, 1 property is a distressed home.

With conditions favoring sellers (1.5 months of available inventory), homeowners must ensure their house is ready for visits, updated as needed, and priced according to the current market conditions. Properties that are not in good shape will definitely sit on this market.

Centerville GA Single Family Homes Sold For October 2017

There was a total of 14 home sales in Centerville GA during the month of October 2017. This represents the highest number of monthly sales in the past year (the annual average this past year is 7 closings). The average sale price for these homes $158K+ and they took an average of 44 days to sell! The 12-month average for both of these categories is $148K+ and 81 days from listed to sold.

The average days on the market remained steady this past month. It is a reminder to sellers that to be competitive, and ensure buyers take an interest in their home, they must market price the property. The sales price to list price ratio in October was outstanding, coming in at 100.73%, which improved on the 12-month average of 97.75%.

The most expensive sale in Centerville real estate during October 2017 sold for $348,000. The lowest priced sale was $77,500. Great news that none of the sales this past month were distressed homes. When distressed sales are present, they can have a slight impact on appraisal values in the affected neighborhoods for the remainder of the year.

What Can Centerville GA Residents Expect Regarding Real Estate In The Coming Months?

In this sellers market you can expect plenty of competition. This could mean a bidding war if you are not ready to write an offer as soon as you decide the home is the property you have been looking for. Just remember, any delay could cost you the home as plenty of other consumers are hitting the pavement and out looking too!

The amount of inventory is worth monitoring for the next few months to determine if this market remains robust or starts to wane as cooler weather arrives. Time will tell if a host of fresh inventory hits the market and if buyers continue to find homes to their liking in the Centerville real estate market.

This Centerville GA real estate market report for October 2017 was provided by Anita Clark. Anita is a licensed residential real estate agent in Centerville GA for Coldwell Banker SSK, Realtors.

You can find Anita on numerous social media networks or via her Centerville Real Estate Blog. She is an active online marketer who loves helping residential real estate consumers in Houston County GA.

**The information provided in this real estate market analysis was generated via the Central Georgia Multiple Listing Service (CGMLS) at the time/date this market report was published. All information is deemed accurate, but not guaranteed.**