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Winter 2012 Market Update
If you can qualify, now is an exceptional time to buy a home in Duluth. Low rates with falling home prices makes a home purchase a great value! Call now for more information at Laura @678-517-4476 or Lonnie @678-910-1202
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| Average Home Price | $375,000 - View Graph Trend |
| Average Price Compared to Last Year | Down 10-15% |
| Average Time on Market | 60-90 days |
| Best Selling Price Range | $300,000 - $349,000 |
| Worst Selling Price Range | $1,000,000+ |
| Prices As % of Asking Price | 90-95% |
| Existing Home Prices for the past 90 days are? | No Change |
| Market Trend | No Change |
| Buyers’ or Sellers’ Market | More sellers than buyers |
| Buyer Activity for the past 90 days in Duluth is | Increasing |
| Seller Activity for the past 90 days in Duluth is? | Increasing |
| Multiple Offers? | No |
| Multiple Offers Commentary | Foreclosed homes and short sales are getting multiple offers. |
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | 15-20% |
| Is Financing Available For Qualified Buyers? | Yes |
| Comments on Financing For Qualified Buyers | We have experienced no shortage of funds for qualified buyers. |
| Housing Inventory | Good supply - Some Prices |
| Inventory Comments | There are many Million-Dollar-Plus homes in Duluth. Their average time on market is much higher than the averaged-price homes, and many of these homes that are listed reflect huge reductions. |
| Greatest Activity | Repeat Buyers |
| Reason to Buy/Sell | Lower prices with good selection and competitive interest rates creates a perfect time to buy in Duluth! |
| Nearest Metro Area | Atlanta |
| Average Sold Price | $375,000 - View Graph Trend |
Duluth Local News
Sluggish housing market in line for a better 2012, according to quarterly survey
The figures are still flat-lining, but there appears to be signs of life out there for a housing market that's dying for an upward tick of good news.
The up-and-down ride for real estate the past few years was seen again in the fourth quarter of 2011, according to a survey of HouseHunt real estate agents across the country. There are pockets of good news offset by bad, with home values and prices basically bumping along the bottom of the grid on a perceived never-ending rocky road.
Click here for full article...
The figures are still flat-lining, but there appears to be signs of life out there for a housing market that's dying for an upward tick of good news.
The up-and-down ride for real estate the past few years was seen again in the fourth quarter of 2011, according to a survey of HouseHunt real estate agents across the country. There are pockets of good news offset by bad, with home values and prices basically bumping along the bottom of the grid on a perceived never-ending rocky road.
Click here for full article...
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Mortgage Rates
– Feb 9th, 2012 –
---------------------------------
30 yr. fixed rate: 3.89%---------------------------------
15 yr. fixed rate: 3.21%
30 yr. jumbo rate: 4.66%
15 yr. jumbo rate: 3.99%
Home Values
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