The Covington Georgia Real Estate Market Report - September 2009

Covington Georgia September 2009 Real Estate Market Report

• Active Listings 1024
• Pending Sales 126
• Closed Sales 79
• Week's Inventory 56 (Absorption Rate)
  

The "Weeks Inventory" indicates the number of weeks it takes to sell the current inventory of homes on the market at the present rate of sales. Inventory level in a "good real estate market" is considered to be around 24 weeks.

Since Last Month's Report:

• Active Listings DOWN 26.3%
• Pending Sales DOWN 9.4%
• Closed Sales DOWN 15%

Foreclosures:

New foreclosures in the Covington and Newton County real estate market were DOWN in September by 9.4% from last month's figure. However, for the nine-month period, foreclosures are still UP 1.4% in the county over 2008.

The Average Sales Price of homes in the Covington real estate market in September was UP 31% over August to $141,031, and UP 7% from the same period in 2008. That's good news!

It's still taking longer to seel our homes in the Covington real estate market. The Average Days On Market of homes listed in Covington was UP 9.7% over August, and 12.9% over September 2008.

DISCLAIMER: All information, photographs & content contained within this blog is the property of Bill Blair and may only be used with express written permission of the author or via the Active Rain "reblog" function, posted in its entirity with attribution to the author.

All statistical information used to create this report was obtained from GAMLS. Information Deemed Reliable but not Guaranteed.

The Covington Georgia Real Estate Market Report - August 2009