The Reserve at Reidsboro Real Estate Market: Introduction
In this comparative analysis, Jessica Horton will explore the real estate trends and dynamics in The Reserve at Reidsboro neighborhood in Pike County, Georgia, during the first half of 2023 and 2024. Jessica’s focus will be on key metrics such as the number of properties listed and sold, average prices, and market behavior to gauge changes and potential opportunities in the neighborhood.
The Reserve at Reidsboro Market Snapshot
Reserve at Reidsboro Real Estate Market: H1 2023
The Reserve at Reidsboro Real Estate Market: H1 2024
The Reserve at Reidsboro Housing Market Overview
Reserve at Reidsboro Real Estate Market: Homes Listed For Sale 2023 vs. 2024
Listed Homes for Sale
- 2023: 15 properties
- 2024: 10 properties
The data shows a decrease in the number of properties listed in 2024 compared to 2023, suggesting a possible tightening in market inventory.
Reserve at Reidsboro Real Estate Market: Homes Sold 2023 vs. 2024
Homes Sold in Recent Years:
- 2023: 4 properties
- 2024: 7 properties
Despite fewer listings, the number of properties sold increased, indicating a higher conversion rate and possibly greater buyer demand in 2024.
The Reserve at Reidsboro Price Analysis
Average Listing Price in Reserve at Reidsboro
- 2023: $546,604
- 2024: $566,109
List Price Range
- 2023: Lowest: $498,500 | Highest: $597,914
- 2024: Lowest: $529,914 | Highest: $594,000
The average list price and the floor of the list price range increased, while the ceiling slightly decreased, reflecting a shift towards higher valued properties dominating the market listings.
Average Selling Price
- 2023: $551,664
- 2024: $591,140
Selling Price Range
- 2023: Lowest: $521,914 | Highest: $574,914
- 2024: Lowest: $542,500 | Highest: $658,750
Selling prices in 2024 not only increased on average but also showed a higher maximum, suggesting a strong market for sellers with properties achieving higher sales figures. Please Note: New constructions often command higher prices due to their brand-new features, modern designs, and potential for customization. This can elevate the average list and selling prices in the neighborhood. The uniformity in pricing might be less pronounced compared to resale homes, where factors like age, maintenance, and upgrades play significant roles.
The Reserve at Reidsboro Market Dynamics
Average List to Selling Price Ratio
Average List to Selling Price Ratio
- 2023: 100%
- 2024: 100.6%
The ratio exceeding 100% in 2024 signifies that on average, properties sold for more than their listed price, pointing to a competitive buying environment and possible bidding wars. Please note: New construction homes might sell closer to or above the listing price due to the premium placed on new features, warranties, and modern amenities. This can explain the 100% or greater list to selling price ratio observed.
Average Days on the Market
- 2023: 51 days
- 2024: 28 days
Properties sold significantly faster in 2024, nearly halving the average days on the market from the previous year, a further indication of heightened buyer interest and a dynamic market. Please note: New construction homes might sell faster if there is high demand for modern, newly built properties, especially in growing or desirable areas. The faster selling time in 2024 could be indicative of increasing popularity. pre-sale homes, or a release of highly anticipated properties.
Conclusion on the The Reserve at Reidsboro Real Estate Market
"Well-informed consumers make better financial decisions in real estate." - Jessica Horton
The real estate market in The Reserve at Reidsboro has shown remarkable resilience and growth from the first half of 2023 to 2024. With increased sales activity, higher average selling prices, and quicker market movements, the data suggests a healthy demand and a competitive environment for both buyers and sellers. To make informed decisions in this vibrant market, stakeholders should consider these trends carefully.
Please Note: Further analysis might include additional focus on the unique selling points of new constructions, the phase of development, and any buyer incentives offered by developers, such as pre-sale discounts or customization options, which could influence both listing and selling prices.
Jessica Horton
With over 20 years of unparalleled experience in the real estate industry, Jessica Horton has cemented her legacy as a trailblazer and visionary.
Experience
Jessica Horton - 20+ years experience in real estate and hundreds of successful transactions. She is consistently recognized for exceptional results.
Top-rated
Since winning Rookie of the Year in 2002 and a Top Producer each year after, Jessica's career has been a constant quest for excellence, consistently excelling from 2001 to 2023.
Industry expert
Jessica is a respected speaker for both the National Association of Realtors and the Real Estate Buyers Agency Council (REBAC), showcasing her professional credentials.
