January – September 2022 & 2023
The information in this report is compiled from data obtained from the Southeast Georgia Multiple Listing Service (SEGA MLS). The purpose of this report is to compare homes in the City of Waycross and Ware County, Georgia, that were sold in the first 9 months of 2022 by REALTORS® who are members of the SEGA MLS to those REALTORS® sold in the first 9 months of 2023.
In full disclosure, the tables and charts in this article illustrate research I do as a REALTOR® when I am analyzing a real estate market in order to price a home for sale. I live in Waycross, Ware County, Georgia, and that area is the subject of this article. Even though I used MLS data taken from the Southeast Georgia MLS (because I am a member of that MLS), the same type of data can be obtained from other sources.
Exactly how I use this compiled information in order to price a home for sale is not the subject of this article. That is what I explain in consultation with sellers mostly, but also with buyers, that I consult with in my job. If interested in how I price a home for sale, let me know…… and I will write another article on that topic later.
Here, my purpose is to illustrate what is happening in Waycross and Ware County in the real estate market at this time. So here goes…..
One thing you will notice in review of the table below is that the number of houses sold in Waycross and Ware County in the first 9 months of 2022 was 332 and the number sold in 2023 was 282. That is significant!
Less homes sold in the first 9 months of 2023 than sold in the first 9 months of 2022, and the average number of days on the market in 2023 was a little higher than in 2022. Demand (# of buyers) has declined significantly in 2023 compared to demand in 2022. If prices do not decline and if interest rates continue to rise, it is my opinion that demand will continue to decline. A lot of buyers are already priced out of the market. Continued price increases are not substantiable in Waycross.
At the end of this article, additional tables provide more information comparing sales prices in Waycross-Ware County in the third quarter of the years of 2022 and 2023.
If you have any questions about the information in this article or want information on other markets or more information on the Waycross market, please don’t hesitate to contact me via my contact form on this website or just give me a call.
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