Numbers: Real estate market improving
Published 1:30 am Friday, October 14, 2016
If sales are any indication of the real estate market in Covington County, the market is getting stronger.
According to Covington Association of Realtors’ MaryAlyce Outlaw, 223 homes were sold in 2015.
Already, Realtors have sold 241 from January until Oct. 13 of 2016.
The average sale price has increased from $93,133 to $104,617, Outlaw said.
Days on the market are slightly higher so far this year, up from 192 to 210.
The total volume sold has increased from $20,768,589 in 2015 to $25,212,761 so far in 2016.
Want to know what people are buying?
Forty two-bedroom homes have been sold; 160 three-bedrooms; and 41 four-bedrooms or larger have been sold.
That breakdown is pretty similar to 2015 where 31 two bedrooms were sold, 152 three bedrooms and 40 four bedrooms or more were sold.
How quickly are they selling?
Realtors have sold 17 homes that were listed on the market for 30 days or less; 44 in 31-60 days; 36 in 61 to 90 days; 20 in 91-120 days and 124 in more than 121 days.
“The real estate market is booming here,” Outlaw said. “It is a buyer’s market with interest rates still very low.”