Real Estate Sales in Covington County
Covington County's real estate sales have gone up slightly from last year. Real Estate officials say that local residents have purchased more homes this past year than last year at this time. For the last 365-day period home sales increased to 233 verses 226 last year. The average home sale price has decreased slightly. The average house in Covington County sold for $93,100 this year verses $99,934 last year. Properties are selling for a little less this year and are staying on the market less time as well. For the last 365 days, homes stayed on the market for 179 days compared to 182 days this time last year. In Covington County, the total volume of all real estate transactions including land sales for this year is $62,373,636 compared to $63,176,798 this time last year.
While "new" home sales represent a fraction of the housing market, they have an outsize impact on the economy. Each home built creates an average of 3 jobs for a year and and generates about $90,000 in tax revenue, according to the National Association of Home Builders. "New" home sales have fallen to an all time low. These home builders are struggling to compete against re-sale homes which are also low. Overall, Covington County's real estate market is stable with shown improvement over the past 6 months
Now is definitely the time to buy that dream home, and take advantage of historically super-low interest rates! Think you won't qualify? You may be surprised! Give us a call here at Outlaw Realty. We are here to help!
Ref:: The Andalusia Star-News Vol 105, No.241. Pgs. 1 and 5
Posted at 01:30PM Dec 09, 2011 by MaryAlyce Outlaw in Real Estate | Comments[0]
