Has the Bubble Burst in Thomas County?
I have been watching this market for 20 years and I see this time period as typical of the cyclical nature of this industry.
Real estate has it’s boom periods and following every boom period is a stagnant period. One thing that remains constant is the fact that real estate never becomes worthless. For the past few years, Thomas County has experienced a fabulous real estate market with lots of buyers and increasing inventory. As the supply increased and the demand slowed, we are now seeing decreased and more realistic pricing. Our market today reflects the current supply and demand, not last years.
Has the real estate bubble popped in Thomasville? No, we are just back to a normal market.
We had a great influx of buyers from Florida and other areas of the country. Those buyers were looking for less congestion,lower crime, lower prices, no hurricanes, less taxes and insurance. Unfortunately, many of the buyers are not making this move
because they cannot sell their homes in Florida and other areas.
The sellers market in Thomas County is history for this cycle. The Seller’s need to understand that the market determines the price that a home will sell for.
For October 2007 our Average Days on Market for residential properties is 158 days, whereas in October of 2007 it was 124 days.
Our Sales Price to List Price Ratio for October 2006 was 97.6% and in October 2007 was 95.2%.
Julie B. Bryan, GRI, CRS, ASR, Owner/Broker RE/MAX of Thomasville, Inc.





