The local housing market is booming. See which county nearly doubled its sales volume.
The amount of money spent on Muscogee County homes has nearly doubled since this time last year.
According to the Georgia Multiple Listing Service, this total amount of money spent on homes in March went from $2.7 million in 2021 to $4.4 million this year, an increase of 66.3%. This March also outperformed every month in 2021. Since the Georgia Multiple Listing Service is one of many MLS services used by local realtors, the data provides a snapshot of sales trends in the area.
Melissa Brown, a real estate agent with Keller Williams Realty, said homes have increased in value in the past year and continue to rise. But, the increase has not affected sales. “We forecasted that when property values went higher, sales would go down, but they’re still on an incline,” Brown said.
Muscogee sells about 16 homes a month, but it only took 14 sales to reach $4.5 million last month. The price tag on the homes have risen. The median sales price last month was $211,000. In March 2021, the median price was $177,500.
According to Brown, the market in nearby Russell County is also active. She has seen a lot of Georgians making the move across state lines. “I know a lot of people that move there for tax reasons,” she said.
Down the road in Meriwether, March saw an 88.1% change to the previous year. Twenty-seven homes sold for a total of $6.6 million. In March 2021, 22 homes sold for a total of $3.5 million.
In Harris County, where the median home price was $270,000 last month, eight homes sold for a total of $2,320,800. It was a significant decrease from the previous year when 22 homes sold for $7,414,800 in March 2021. Total sales volume is down by 68.7%.
In Troup County, where the population is less than half the population of Muscogee, the housing market is way more active. Last month, 93 homes sold for a total sales volume of $20.9 million and MLS reported 125 new listings. Last year saw similar statistics in Troup.
Brown said the local housing market is fast-paced and there are no signs it will be slowing down anytime soon. “The buyers are frustrated,” she said. “But we get them in.”
This story was originally published April 19, 2022 at 6:50 AM.
