The State of Real Estate in Macon County
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The Macon County residential real estate market for the first quarter of 2020 outpaced the first quarter of 2019 by just over 40% in terms of both dollar volume and units sold. Dollar volume was up by $9 million and 79 more homes were sold as compared to the same time period in 2019. To say the market started strong is an understatement.
Average list price increased 2% to approximately $116,500 from $114,600 and average sales price increased 1% to $109,800 from $108,500. Buyers and sellers alike were encouraged as the demand was high, the inventory was low, interest rates were experiencing record lows, and financial measures were pointing upward. As a classic example of a right-side up economy: demand was greater than the supply.
Then COVID-19 hit…
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The COVID-19 pandemic has left many of today’s buyers wondering how or even if they should proceed with their home search. Questions about safety, financial ramifications, and uncertain job security linger as they question moving forward with their longtime plans.
Our nation is crying. While some Americans are fighting for their lives, other Americans are fighting for their livelihoods. No one is immune from concern.
These days, our local housing market is as uncrowded as the hand sanitizer shelf at your local grocery store.
As I am putting my pen to paper, it is the final day to vote for the Herald & Review Reader’s Choice Awards. If you know me at all, you know I am loyal to a fault and I spend a majority of my money at local businesses. I take this so far that I refuse to eat at the new Chipotle location because I’d rather go to Solsa! It’s ok. You can laugh at me. I know it’s a little ridiculous.
When you’re in the market for a new home, it’s a good idea to create a list of “Wants” and “Must Haves.” You’ll also need to think through a budget. Not only will this help you and your family get on the same page, it will better equip your real estate agent to find your perfect fit.
There’s good news for the residents of Macon County: not only is our Real Estate Market doing well, we remain the most affordable housing market in the country.
In the age of HGTV reality shows, buyers expect homes to look like they do on TV and are willing to pay more for what they want. The goal of Home Staging is to make a home appeal to the highest number of potential buyers, thereby selling a property faster and for more money. And it works!