The average sales price for homes that were sold in September was $105,875, an increase of $1,600 from the average sales price in August and up $5,300 as compared to September sales a year ago.
Morgan Ayers of Re/Max of Rome said that overall, the market is seeing an up-tick.
“There seems to have been a little lull the last week or so,” Ayers said.
He expressed concern that there could be another influx of foreclosures on the market as soon as financial institutions take action against properties they’ve held off on in recent months.
Ayers said that while the process has stabilized some, “they (sellers) are not getting what they want. That’s not going to happen for a long, long time, but we are seeing some stabilization.”
He said prices are still 30-35 percent below what they were getting for comparable properties back in 2006-2007.
The average number of days on market for homes listed in Rome and Floyd County went up in September to 204, a modest increase from August, but 50 days less than the length of stay on the market a year ago.
“Demand in our local market has remained stable,” said Jason Free of Keller Williams Realty, president of the Greater Rome Board of Realtors. “When the supply was high, prices had to decrease, and the number of days on the market continued to increase. In the last six months we have seen the supply of inventory decrease. The result has been fewer days on market, and average sales price will be trending upward.”