Covington Georgia August 2009 Real Estate Resale Market Report
- Active Listings 1389
- Pending Sales 139
- Closed Sales 93
- Week's Inventory 65
The "Week's Inventory" indicates the number of weeks it takes to sell the current inventory of homes 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 12.8%
- Pending Sales DOWN 4.8%
- Closed Sales DOWN 34.5%
Foreclosures:
New foreclosures in the Covington and Newton County real estate market were DOWN in August by 1.8%. However, for the eight-month period, foreclosures are UP 11% in the county over the same period last year.
The Average Sales Price of homes in the Covington real estate market in August was UP 3.5% over July, but DOWN 22.3% from August 2008 prices.
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 entirety with attribution to the author.
All statistical information used to create this report was obtained from GAMLS. Information Deemed Reliable but not Guaranteed.
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Your comments and questions are always welcome
That's quite a drop in closed sales!
Jared & Amanda... You're right, but things are still pretty crazy in this market. It's hard to get a "straight-line" trend in any area of the market. Hope things are better in Ft. Wayne! Thanks for your comment.