The Real Estate Market in GA

The latest March/April issue of the Georgia Realtor included an article which profiled buyers and sellers specifically in the State of GA. I found this information quite interesting and want to share with you some highlights from that article:

• The median age of GA homebuyers was 39
• Median household income was $73,600 compared to $74,900 nationally
• 41% of the recent home purchases were by first time home buyers
• New home purchases accounted for 32% of recent home purchases and the typical home was 2,020 sq. ft. in size
• 89% used the Internet to search for a home
• 81% of the homes purchases were detached single family homes
• Median price of the purchase was $195K compared to $204K nationally
• 67% of the buyers purchased their home through a real estate agent or broker and 72% of recent buyers said they will use their agent again and 15% will probably use the agent again or recommend them to others
• For sellers, 61% contacted only 1 agent before selecting one to assist them
• 33% of sellers had received a recommendation of a friend, neighbor or relative that aided their selection of a real estate professional
• 13% of the sellers sold their home without an agent's assistance (FSBO). Of those, 53% reported some difficulty in selling their home themselves and were most challenged in getting the necessary paperwork done, preparing the home for sale and getting it priced right
• Recent sellers sold their home for 96% of the list price and 54% offered incentives such as closing cost assistance and/or home warranties

We all know that our efforts and marketing needs to be geared to the demographics we are hoping to reach. Keeping in touch with our past clients and making sure that they feel remembered after the transaction closes is so very important. Acquiring the client and then handling the transaction is just the beginning. Gaining their respect and trust and conveying a genuine interest in their individual situation is what brings repeat business and referrals.

I love being a REALTOR® and I hope that my passion for this business is unmistakable to those I come in contact with!