Home sales, prices inch up in Coweta

So far so good for home sales in Coweta County for the first six months of 2012. The first half of the year saw small increases in the number of homes sold and in the average sales price compared to figures from 2011.

Multiple Listing Service figures supplied by Leslie Edwards Real Estate, Inc. for the months of January through June showed 874 homes sold. The average list price was $273,802 while the average sale price was $159,614.

Coweta in all of 2011 saw 1,543 homes sold with an average listing price of $239,511 and an average sale price of $153,806. That translates into an average increase of $5,808 per sale so far during 2012.

The January-June home sales this year included 259 units that sold for under $100,000, with an average sale price of $59,531.

Homes selling for more than $100,00 were on the market for an average of 95 days while those selling for under $100,000 were on the market for an average of 74 days.

Also included in the 2012 figures were 411 homes with contracts that expired without a sale. Those homes carried an average list price of $231,013.

Next door in Fayette County during the first half of 2012 the sales results were somewhat mixed. The good news was that the number of home sales for 2012 appears to be on-track for increasing over last year. The bad news was that the average list and sale prices are down again.

The first half of the year saw 709 homes sold in Fayette compared to 1,157 sold during all of 2011. The average list was $258,035 while the average sale price was $220,639. During 2011 the average list price was $290,511 and the average sales price totaled $227,767.

For Coweta and Fayette, home sale prices during the recession have not been nearly what they were in prior years. In Coweta, the average sale price in 2008 was $195,084. That price decreased to $173,820 in 2009, to $162,244 in 2010 and to $153,806 in 2011.

Similarly in Fayette, the average home sale price was $314,342 in 2007, $297,239 in 2008, $266,228 in 2009, $255,183 in 2010 and $227,767 in 2011.

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