Monthly Market Report: August 2010

So, each month, I’d like to give a little update on what’s going on in our marketplace. I’m going to provide statistics and information using our South Georgia Multiple Listing Service. Hopefully, the information will help to provide insight into the real estate market in the Lowndes County and Valdosta, GA areas, and help give a clearer picture about home pricing and more.


When comparing to one year ago, August 2009, last month saw just over a 3% increase in number of residential units sold in Lowndes County alone. Compared to the month of July 2010, August 2010 saw just over a 16% increase in the number of residential units sold, again, in Lowndes County only. If nothing else, just this figure shows that we’re looking up!

According to the MLS, Lowndes County has seen an 11% decrease in August 2010, compared to August 2009, in the number of homes being newly listed for sale. This may be evidence of some stabilization.

The real estate market in Valdosta and Lowndes County, like much of the rest of the country, did not see the awful numbers being reported by our national news. Several factors help to keep our market “out of the woods” and fairly stable throughout the downturn. We were seeing such high and inflated home prices before the crash that our market has simply corrected through these times, not plummeted. Our values now are pretty accurate and straight forward. We have definitely seen a decrease, but again, now the values are probably what they should be, not at rock bottom.

All of these things considered, NOW is the time to buy real estate. Home prices are low, interest rates are at RECORD lows (I’ve seen 2.75%), and the economy will not suffer forever. I read today, where forecasters are predicting an increase in the interest rates in the next WEEK!! While nothing is a guarantee, do not be one of those people kicking themselves at the end of this for not taking advantage. Americans, and our economy, will get up, dust off their shoulders, become more confident, and, even if a little scarred, will MOVE ON and MOVE UP!

So, I, and EXIT, say: BUY REAL ESTATE NOW! Stop talking about how bad everything is and realize that things are only as bad as WE make them. Refuse to let the national news form your opinion! Look at the facts! The facts are that it’s not all that bad! Chin Up, Folks!