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Housing market improving

Published 12:04am Wednesday, November 7, 2012

 

 

The housing market has shown strong signs of improvement in 2012, officials said Tuesday.

In Andalusia, local Realtors have sold 78 houses so far this year, compared to 74 for the same period last year.

Additionally, the average list price is up more than $18,000, selling for around $112,958.

Average days on the market are up to 198 days from 138 days in 2011.

On Gantt Lake and Point A waterfront properties, Realtors have sold 14 houses this year, which is up 50 percent from this time last year. Average selling prices are down to $141,786 from $190,214 last year, and average days on the market was up 93 days over last year.

Out in the county, in areas such as Heath, Gantt, Pigeon Creek, River Falls, Loango, Brooklyn Road, Pleasant Home, Straughn, Babbie and other areas, home sales are up 15 to 59 this year.

The average selling price is up to $100,000, and the average days on the market is down 26 days to 193 days.

Though the majority of the county has seen improvements, home sales are down in Opp and Florala, Lockhart and Lake Jackson areas for the year.

In the Florala area, eight houses have sold this year, compared to 14 this period last year.

Still, the average selling price is up more than $43,000, and days on the market was up 34 days to 262.

Opp sales were down eight to 35 sold; the average selling price is $66,970, down from $77,988 for the same period last year. Days on the market increased 126 days to 306 days on the market.

“This year has been a good productive year for real estate,” said Covington Association of Realtors President Donna Raines. “Prices adjusted slightly and have stabilized. Lending institutions adjusted and now have really good loan programs for a wide-variety of people. I think I can say we are poised for a good beginning of 2013.”

Raines said now is an excellent time to buy, and for those thinking of selling, the new year will be a fantastic time to put homes on the market.

The housing market has shown strong signs of improvement in 2012, officials said Tuesday.

In Andalusia, local Realtors have sold 78 houses so far this year, compared to 74 for the same period last year.

Additionally, the average list price is up more than $18,000, selling for around $112,958.

Average days on the market are up to 198 days from 138 days in 2011.

On Gantt Lake and Point A waterfront properties, Realtors have sold 14 houses this year, which is up 50 percent from this time last year. Average selling prices are down to $141,786 from $190,214 last year, and average days on the market was up 93 days over last year.

Out in the county, in areas such as Heath, Gantt, Pigeon Creek, River Falls, Loango, Brooklyn Road, Pleasant Home, Straughn, Babbie and other areas, home sales are up 15 to 59 this year.

The average selling price is up to $100,000, and the average days on the market is down 26 days to 193 days.

Though the majority of the county has seen improvements, home sales are down in Opp and Florala, Lockhart and Lake Jackson areas for the year.

In the Florala area, eight houses have sold this year, compared to 14 this period last year.

Still, the average selling price is up more than $43,000, and days on the market was up 34 days to 262.

Opp sales were down eight to 35 sold; the average selling price is $66,970, down from $77,988 for the same period last year. Days on the market increased 126 days to 306 days on the market.

“This year has been a good productive year for real estate,” said Covington Association of Realtors President Donna Raines. “Prices adjusted slightly and have stabilized. Lending institutions adjusted and now have really good loan programs for a wide-variety of people. I think I can say we are poised for a good beginning of 2013.”

Raines said now is an excellent time to buy, and for those thinking of selling, the new year will be a fantastic time to put homes on the market.

 

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