January – June 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 six months of 2022 by REALTORS® who are members of the SEGA MLS to those REALTORS® sold in the first six 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.
January – June 2022 – Marketing Statistics
January – June 2023 – Marketing Statistics
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. 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 six months of 2022 was 167 and the number sold in 2023 was 130. You will also notice that a little over half of the houses sold in the first six months of 2022 sold at or above list price, and in the first six months of 2023 that declined to just a little over one-third of the houses selling at or above list price. That is significant!
You will also notice that the average days on the market and the median days on the market are both higher in 2023 than in 2022. That is also significant!
Less homes sold in the first six months of 2023 than sold in the first six months of 2022, and the average number of days on the market in 2023 was higher than in 2022. Also, in the first six months of 2023, there was a significant drop in the percentage of sellers getting at or above their list price. This tells me that prices are no longer rising and that not as many homes were being realistically priced when listed for sale in the first six months of 2023 as were priced when listed in 2022.
At the end of this article, another table provides additional information comparing sales in Waycross-Ware County in the first six months of the years of 2022 and 2023.
If you have any questions about the information in this article or want information on other markets, please don’t hesitate to contact me via my contact form on this website or just give me a call.
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