Our market has steadily improved over the last year and we have seen 116 residential homes sell in the last 6 months under $200,000. The average time on market was 122 days, but averages can be misleading. If a home is priced right and marketed correctly, we are seeing a much shorter sales cycle. I personally have had 2 listings sell within the first month of being on the market recently.
Current sold to list price under the $200,000 price point is 93.05%, but again, this is just an average and we have seen some go close to asking or above if there were multiple offers.
Information complied through our Northeast Georgia MLS shows that 127 homes have sold in Fannin County under $200,000 YTD. The Average Days On Market (DOM) for those homes sold was 120 Days. The homes sold at 83% of the original list price, and 90% of list price.
I hope that helps you with your question. If not, or you wold like additional information, please contact me and I will be more than happy to assist you with your Real Estate needs.
Make it a GREAT day!
both were listed between 176.000 and 179,000 and both sold for 20,000 less than asking - for cash.
Your best bet is to select a realtor, descrive your specific property and have a Comparative Market Analysis(CMA) completed to compare your location and condition to arrive at a price range. The CMA will give you Days on Market information on the listed and sold comparables plus an average for each category. Good luck.
I can say that a nice cabin, in a decent location, which is correctly priced (not overpriced) can sell in 180 days.
(Though I did see one today that has been on the market for 777 days...)
If you would like for me to complete a market anaylsis on a property for you, I would be able to provide you with more detailed / accurate information.