Fayette | News

Homes stay on market longer, sell for less, say Realtors

Tue, 06/09/2009 - 4:23pm
By: Ben Nelms

Average sale down $40,000 in 1 year

There is a lot of conversation today about home sales and values in Fayette County. Included below is a home-sales comparison for comparable periods of 2007, 2008 and 2009 and a comparison of the total sales for 2007 and 2008.

Home sales figures were obtained from the Georgia Multiple Listing Service (MLS) and were supplied by the Fayette Board of Realtors.

A comparison was made for Jan. 1 through June 9 for 2007, 2008 and 2009. Home sales for the 2009 period totaled 381, compared to 477 homes sold for the same period in 2008 and 664 sold in 2007.

During the January to June period, the 2009 sales averaged 112 days on the market and sold for an average of $261,871. During the same period in 2008 the homes averaged 101 days on the market and sold for $301,694. And for the 2007 period, homes averaged 85 days on the market and sold for an average of $316,812.

Figures for Fayette County were also available for the entirety of 2007 and 2008.

In 2007, there were 1,532 home sales for an average price of $313,233. The homes were on the market for an average of 97 days.

And in 2008, there were 1,075 sales carrying an average price of $297,519 with an average of 106 days on the market.

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Appeal Now
grassroots's picture
Submitted by grassroots on Tue, 06/09/2009 - 10:53pm.

Thanks Mr. Nelms for putting back to back articles that I can use for my appeal. I can't wait for the Fed to allow banks a moratorium on paying property taxes on foreclosed houses. It's coming. That'll wake up the county dead beats like Benton and Wingo and do something proactive. With a rapid increase in the foreclosures in limbo and some of them due to taxes, the county will own a lot of empty houses because they won't be allowed to go to auction.


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Home & Land Values
Submitted by Bonkers on Tue, 06/09/2009 - 5:13pm.

Anyone know why developer's land decreases in value for tax purposes if not sold but private homes not sold do not? Why is it worth more the moment it is sold by a developer?

Is a home not less valuable if it takes twice asd long or more to sell it?

If you can't sell it at all in months is it worth less? Don't think they consider that!

Wonder f they will use exactly the same criteria as now when home prices eventually do increase again?

Is Sonny's tax increase caused by not allowing the same homestead deductions really a tax increase? Doesn't this article say it is and that we will pay 2-300 more? Sonny increasing taxes?

Is their anything more that the republicans can do to kill their party of no tax increases, no borrowing, etc.?

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Wingo Voodoo
grassroots's picture
Submitted by grassroots on Tue, 06/09/2009 - 10:43pm.

Wingo is throwing Sonny Purdue under the bus. It's his call to pass the taxes on our backs not the state. Wingo can use any raise sent to me for toilet paper.


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